Money Management – 6 Tips for Optimising Your Invoicing System

Are you being paid on time? When do you mail out invoices to clients? Invoicing can seem like a never-ending job, especially if you do not have a reliable system in place to maximise your accounting practices. If you are struggling with invoicing and billing within your business, you may need to make a change in the way you charge.

Business invoicing

photo credit: ClearFrost / Flickr

If the employees that you have completing the invoicing process are struggling with getting them out on time or appear to dislike the time of the month when invoicing occurs, you need to make a change in your company to speed up the process and make it more efficient.…

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Q&A with Brian Madgett, VP of New York Life on Small Business Insurance Coverage Gap

Many small business owners view business insurance as the necessary evil, and thus they are reluctant whether they should take more coverages or not. In reality, nobody really knows (except the insurers, perhaps) until the disaster happens; in that case, it’s all too late.

The result of the reluctance is the gap between the coverage they have and the amount they actually need.  But how bad is the gap? What should small business owners do in response to the gap?

Brian Madgett, New York Life VP

We converse with Brian Madgett, The Vice President of New York Life – the largest mutual life-insurance company in the U.S.…

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How Your Personal Financial Decisions Could Affect Your Business

Life is rough all on its own. When you add money too it, sometimes it can be too much. However, as a business owner, you must learn how to balance your own finances before you can create success in the finances of your business.

New business financial meanagement

With so many businesses going bankrupt, it might be a wise decision to invest in a little know how when it comes to money. Below are a few things that might occur in your company if you don’t.

Stay Ahead Of The Bills

Paying bills is my favorite thing to do, said no one ever. Yet, it must be done.…

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SMB CEOs: You Need More Than Just Health Insurance

There’s been a lot of talk about health insurance in America lately. Is the Affordable Care Act (aka Obamacare) staying? Is it going? If it goes, what, if anything, will replace it, and when will those changes kick in? Will Congress ever make up its mind?

Health insurance for CEO

Plenty of people are worried about the state of their healthcare lately, and for good reason. It can be hard to think about other things when the state of health insurance seems so tenuous, but taking care of yourself doesn’t begin and end with health insurance. You need other types of insurance as well: dental insurance for yourself, and life insurance for you and your family’s peace of mind.…

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Aspiring Entrepreneurs Can Now Get Additional Startup Funds Through Government Grants Offered

One of the major problems upcoming entrepreneurs face is a shortage of funds to effectively chase their dreams.

Fortunately, the problem of lack of financing that most upcoming businesses face has been minimised thanks to government’s new found willingness to help start-ups by providing financial assistance through grants.

Government grant funding

But first, what is a government grant?

You can think of a grant as money awarded by the government to finance your business. But unlike other financing options, you don’t have to pay back the sum received as a grant. The fact that the sum received via a government grant is something that you don’t need to pay back makes it a very tempting offer.…

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5 Alternative Financing Options for Startups

Lack of funding is one of the biggest hurdles startups face. Banks are reluctant to lend to a brand-new business – or even an established business. Even loans from the Small Business Administration can be tough to secure.

Alternative financing options

If you’re struggling to get the capital you need for your startup, consider these four alternative financing options.

1. Crowdfunding

Crowdfunding can be an extremely effective way to raise capital. Platforms like Indiegogo and Kickstarter have helped countless startups get up and running.

The idea behind crowdsourcing is simple: everyday people make small investments in your project, or business.

Maybe you have an innovative new product.…

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What Makes Up a Development Finance Funding Process?

One of the major problems with property development lenders is that it can be a little awkward to stay abreast of all the different nuances, developments and changes.

Constant comparison and monitoring can prove a tall order, but it can be rewarding in the form of insights into the different lenders’ pros and cons, and getting the cheapest deal. Most importantly, you need to understand how the lenders operate, so here’s a breakdown when it comes to property developer finance.

Property developer

Pre-Approval

Standard property lending is calculated via a percentage of the property value, with the value dropped to 80%, to take into account repossession and low resale value risks.…

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5 Things Your Accountant Should be Doing

Is your accountant giving you more than just tax advice? If not, it may be time to find a new one.

Happy accountant

Your accountant should be helping you with these five important things:

1. Helping You Prepare for Tax Season – Well in Advance

Most business owners hire an accountant purely for tax purposes, although they can offer assistance in other ways as well.

Ideally, your accountant should be helping you prepare for taxes well in advance, so there are no last-minute surprises. He or she should be helping you understand:

  • Which credits to claim
  • Which deductions to claim
  • Tax laws that can maximize your write-offs

Tax opportunities, like the R&D credit, can help reduce your tax burden, and your accountant should know if you qualify for such opportunities.…

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3 Accounting Tools to Drive Your Small Business

Small business owners often scramble come tax season. There is a lot to worry about as a business owner, and the last thing most businesses want to think about is paying their taxes. Keeping the lights on is far more important to a business owner.

Using online accounting software

But you don’t have to scramble last minute to figure out your taxes.

There are tools that can help make tax season a little less taxing on a small business owner.

1. QuickBooks Online

Quickbooks website screenshot

Quickbooks offers an online version that is ideal for small businesses. The “standard” for small businesses, this software makes bookkeeping systematic. The good news is that you can use QuickBooks and then allow access to the account to your accountant.…

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