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Category: Uncategorized

Company Finance: How to Best Manage your Money

Posted on February 5, 2017  in Uncategorized

Sometimes the success or the failure of the business depends on how well the corporate finances are handled. Proper account management practices and cash flow management processes are essential in keeping a business afloat. Here is how to best manage your corporate finances.
Basic corporate finance needs
Every business must have a few resources at their disposal to handle the day-to-day financial tasks required to operate a successful business. Businesses just starting out require resources for everything from ordering checks to accounting software to properly manage corporate finances. Here are the most important things you need just starting out:

  • An official corporate account to process payments
  • Basic bookkeeping software to manage cash flow, receivables, payables, budgeting and reporting
  • Account management processes and procedures
  • Financial expert such as an accountant for advisement
  • Payment processing solutions if conducting business on and offline
  • Inside a proper corporate finance plan

A corporate finance plan is a strategy to maintain liquid assets to cover financial responsibilities while allocating any additional funds toward investments. The corporate financial plan takes into account the financing needs, inventory requirements and payment management for a business.
Financing needs
Consider the importance of financing in managing day-to-day operations for a company. If the company cannot produce the necessary financing to cover ongoing expenses, the business encounters problems with meeting inventory needs and seasonal expenses. Joining a credit union can be the single most important step to take with managing company finances. A credit union can provide the financing to businesses at lower interest rates. In addition to competitive financing, they also offer lower fees to members. Credit card merchant accounts with favorable rates may be available to creditworthy applicants.
Inventory management
If inventory is a requirement in operating the business, there are endless resources available to help with key functions like inventory management. Inventory management is usually a feature included in a comprehensive bookkeeping suite. Some services available online can cost as little as $10 per month. Solutions like NolaPro, QuickBooks Online, Less Accounting and Peachtree all offer accounting software packages available online. What to expect in a typical package:

  • Expense tracking
  • Accounting reports
  • Payroll
  • Quote/proposal management
  • Order entry
  • Asset management
  • Inventory management
  • Mileage tracking
  • Payment management

Evaluate how businesses must handle and manage invoices and payments. Consider the transaction needs for the typical customer. Customers require a range of payment methods available to them. Customers want the flexibility of being able to make payments online. Some software packages offer payment processing solutions as an add-on to their existing packages. For example, Intuit offer affordable payment processing options. Other common solutions like PayPal remain a simple alternative to the more expensive merchant account options available. Depending on the solution expected, one can expect to pay anywhere between 2 and 8 percent per transaction. Credit card merchant accounts allow business owners the flexibility of taking advantage of installment options. Some sites like checks-superstore permit one to download printable checks from the site. Extending the capabilities of popular products like Peachtree and QuickBooks allow you to synchronize your solution to the banking account to facilitate payment tracking.
Financial expert
A financial expert is essential to a business. Their expertise can devise an investment strategy for the company. They can assist in developing an investment plan for a 401K or retirement fund. The resource assists in maximizing company profits for the business by identifying the right timing for making investments to help the business achieve growth. For a business owner whose core business doesn’t require a solid understanding of investment, this resource can prove to be invaluable.
From the moment the business first opens its doors, the owner must have a solid corporate financial plan. The plan must be constructed in a way where all the money entering the company flows through the proper channels. Tight money management for a business expands growth opportunities for a business, ensures a healthy cash flow, and makes sure that all dollars are reliably tracked and accounted for in the books.

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Category: Uncategorized

Bookkeeping Outsourcing – Money And Time Saving Service

Posted on January 26, 2017  in Uncategorized

Account managing is an extremely tedious work of a company and requires expert assistance for overcoming the difficulties. Errors in bookkeeping are absolute no-no in tracing the success graph of the organization. Therefore, devoted and dependable bookkeeping experts are essential for each and every firm to avoid any chaos in this department irrespective of the fact the firm is small or a large one. Without bookkeeping experts the company has to find appropriate employees for this task which is a difficult task as well as very expensive also as they demand high salaries which is not possible for the companies to afford. This makes bookkeeping outsourcing an only solution to this problem.

The professionals hired are responsible for making a record of accounting transactions devoid of any mistakes. To accomplish this task perseverance, time as well as accurate collection is the key words. The bookkeeping professionals keep a track of purchase, sales dealings plus the balance sheet as well as the profit and loss financial statement of the organizations. So, you can keep your minds free from any tensions regarding the bookkeeping task and engage yourself with other areas which demand attention. With this you can make contributions in the development as well as the production made by the firm.

Making investments in the bookkeeping outsourcing can be considered a valuable worth for money. This is mainly due to the reason that the firm will be in a position to save ample money which is required otherwise to pay the individuals specifically hired for the bookkeeping task. Apart from this the company will not be required to invest money on the accounting department upholding plus the infrastructure essentially required for the employees. In bookkeeping services a subsidized sum is given to the bookkeeping firms for their esteemed services.

The professionals at these firms offer an absolutely accurate data as they are well experienced in their task. They assist you the best by saving your precious time in spotting the errors in the books of accounts, thereby devoting the time to the core activities of the business. They also provide you with the fair idea as to where excess of money is being spent that can be cut down upon and other related matters. This way these bookkeeping firms are crucial to any business as they book profit for the firm as well as optimum usage of the resources.

However, prior to making any selection of the bookkeeping firm it is essential to check out that the firm selected by you is competent enough to handle all the tasks related to bookkeeping in an efficient manner to avoid any kind of crisis in the future. For this you can ask suggestions from your family and friends who have availed the services of bookkeeping firm in the near past. A well established bookkeeping firm will offer you services which are unmatchable and gives you a convincing solutions for any accounting problem.

To find bookkeeping outsourcing services Internet is an appropriate medium. So, just log in and find the bookkeeping service which is most suitable to you.

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