Fundera

MARCH 18, 2019

When you think of mom-and-pop shops, you probably imagine a quaint, family-owned drugstore fixed on the corner of a neighborhood strip mall or a general store located in the downtown quarter of a small town. Although this wouldn’t be inaccurate, mom-and-pop shops have come a long way over the last century. The term “mom-and-pop” can be applied to various types of small businesses , such as restaurants, bookstores, electronic repair shops, car repair garages, and more.

Small Businesses 111

Small Businesses 111

GoCardless

MARCH 21, 2019

From developing your plan to handling objections – here's our seven step guide to increasing your fees, without losing important clients.

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52

Credit & Management Systems, Inc.

MARCH 27, 2019

Credit & Management Systems will be at the 123rd annual Credit Congress & Expo in Aurora, CO May 19-22, 2019. A proud exhibitor at the Credit Congress since the inception of exhibits, Credit & Management Systems is also a preferred provider of the NACM’s National Trade Credit Report (NTCR). This report data can be merged seamlessly into CMS Credit Suite, making your data investment work harder for you!

Credit and Collections 40

Credit and Collections 40

Fundera

MARCH 7, 2019

If you own a business—or are thinking about starting one—you’re in excellent company: there are 28.8 million small businesses in the United States, according to the U.S. Small Business Administration , and they have 56.8 million employees. Small businesses (defined as businesses with fewer than 500 employees) account for 99.7% of all business in the US.

Credit Scoring 109

Credit Scoring Small Businesses Credit Unions Insurance Companies 109

Fundera

MARCH 16, 2019

The 8 Best Accounting Books for Small Business. Simple Numbers, Straight Talk, Big Profits by Greg Crabtree. Accounting for the Numberphobic by Dawn Fotopulos. Finance for Nonfinancial Managers by Gene Siciliano. The Accounting Game: Basic Accounting Fresh From the Lemonade Stand by Darrell Mullis. Profit First by Mike Michalowicz. The Tax and Legal Playbook: Game-Changing Solutions to Your Small-Business Questions by Mark J.

Small Businesses 106

Small Businesses Dashboards 106

Fundera

MARCH 6, 2019

The Most Important Business Finance Terms and Definitions. Accounts Payable. Accounts Receivable. Asset. Balance Sheet. Cash Flow. Fixed Asset. Income Statement. Liability. Profit & Loss Statement. Annual Percentage Rate. Collateral. Loan-to-Value. Debt-Service Coverage Ratio. Lien. Personal Guarantee. Financial Statements. Debt Consolidation. Gross Profit.

Credit Scoring 105

Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

Fundera

MARCH 26, 2019

With the warmer weather of spring fast approaching, traveling is on more people’s minds. Compared to year-end travel, spring travel season is more unpredictable, especially for business owners and executives. Whether you’re attending an industry conference, meeting a client, or combining business and personal travel during the kids’ spring break, you’ll be glad to make your journey more efficient.

Credit and Collections 98

Credit and Collections 98

Fundera

MARCH 17, 2019

Every time tax season comes around, accountants are flooded with questions for advice on taxes, and in particular, payroll advice, tips, and tricks. Luckily, s mall business income taxes are fairly predictable from year to year. From an accountant’s perspective, a small business owner’s taxes follow a pattern of calculating, reporting, and paying that repeats on a set schedule.

Small Businesses 98

Small Businesses Deductions Credit and Collections 98

Fundera

MARCH 24, 2019

EIN vs. ITIN vs. SSN. It’s safe to say that if someone is not an entrepreneur, they probably only know the definition of the last acronym in that trio. As a business owner, you, on the other hand, are likely more than familiar with all three terms. Most small business owners have an employer identification number (EIN), an individual taxpayer identification number (ITIN), and a social security number (SSN).

Small Businesses 98

Small Businesses 98

Fundera

MARCH 14, 2019

7 Steps to Eliminate Small Business Debt. Assess and rework your budget. Reduce expenses. Temporarily pay with cash (if you can). Communicate with creditors and lenders. Create a “target debt” or “stack” repayment plan. Increase your income. Hire a debt-restructuring firm. There may be no worse feeling than being crushed by debt of any kind. That feeling is heightened when you’re dealing with business debt, and you’re facing the possibility of losing your business altogether.

Small Businesses 92

Small Businesses Bankruptcy Credit and Collections Debt Collections 92

Fundera

MARCH 15, 2019

A business model is an outline of how a company plans to make money with its product and customer base in a specific market. At its core, it explains what product or service a company will sell, how it intends to market that product or service, what kind of expenses it will face, and how it expects to turn a profit. Because there are so many types of businesses out there, business models are constantly changing; there is no one-size-fits-all model that can be applied to every business.

Retail Companies 81

Retail Companies 81

Fundera

MARCH 29, 2019

With the effects of global warming ramping up—including rising sea levels, vanishing wildlife and their habitats, and increased precipitation and severe weather patterns—it’s imperative that businesses retain social responsibility in their operations and key decision-making. But whether you’re already running a green business, you’re planning to start one, or you’re planning to join the ranks of major companies like Google and Dell in going green in 2019 , at a certain point in your development

Credit Scoring 81

Credit Scoring Investment Firms Small Businesses 81

Fundera

MARCH 9, 2019

7 Reasons to Incorporate Your Business. Easier to raise capital. Allows you to issue stock options. Protects your personal assets. Easier to sell and transition. Saves on taxes. Easier to open a business bank account or credit card. Enjoy added credibility with customers. Most small business owners start out as sole proprietors. As a sole proprietor, there isn’t much distinction between you and your business.

Deductions 81

Deductions Credit and Collections Small Businesses 81

Fundera

MARCH 14, 2019

The thought of business tax deadlines might cause some small business owners to run and hide. Unless you’re in accounting or finance, filing small business taxes probably isn’t something that you look forward to. However, keeping on top of what you need to file—and when—will save you from costly IRS penalties and back taxes. We’ll take a look at 10 essential business tax deadlines to save in your calendar.

Electronic Funds Transfer 81

Electronic Funds Transfer Small Businesses Deductions 81

Fundera

MARCH 31, 2019

Whether you’ve been running your home-based business for a while or are just starting out, you may be wondering about incorporating your business. That is, forming an official legal business entity, such as a limited liability company (LLC), to help to project your business and personal assets. Even if you work alone and intend to keep your business small, there are still advantages to incorporating.

Law Firms 81

Law Firms 81

Fundera

MARCH 16, 2019

The 7 Best QuickBook Apps. TSheets Time Tracking. Expensify. Billbeez. Transaction Pro Importer. Bill.com. Webgility. Tax Planner Pro. QuickBooks is one of the most popular business accounting software options available with millions of customers because of its suite of abilities to track income and expenses, manage invoices and payments, and more. Despite its many features, customers still want integrations with other tools they use through the QuickBooks app marketplace.

Transactions 76

Transactions 76

Fundera

MARCH 9, 2019

A business budget template is one of the most important tools you can use to run your small business. Unfortunately, many small business owners skip this vital business management step. There are a lot of misconceptions about budgeting. It seems difficult and time-consuming. But with a good business budget template, the process can be much less daunting.

Small Businesses 75

Small Businesses 75

Fundera

MARCH 11, 2019

16 Legal Requirements for Starting a Small Business. Designate the proper business entity. Check which licenses, permits, and registrations your business needs. Make sure you are paying proper business taxes. Do proper bookkeeping. Get a founders agreement in writing. Set a vesting schedule for all founders and early employees. Get your employer identification number (EIN).

Small Businesses 75

Small Businesses Transactions 75

Fundera

MARCH 24, 2019

What Is Commercial Auto Insurance? Commercial auto insurance protects your business from legal claims of bodily injury or property damage that occur during the operation of a company vehicle, or when using a personal vehicle for business reasons. This insurance can pay for repairs, medical expenses, and legal fees that personal auto insurance won’t cover.

Insurance Companies 75

Insurance Companies Deductions Small Businesses Medical Billing 75

Fundera

MARCH 5, 2019

What’s the SBA Loan Timeline? The SBA loan timeline is about 60 to 90 days from initial application to release of funds. The exact timeline depends on the size of the loan, the length of the term, the purpose of the loan, and the experience of the lender. Gathering documentation is the most time-intensive part of the SBA loan process. If you’re a small business owner in search of financing, odds are that you’re hoping to get approved for a loan sooner rather than later.

Credit Scoring 75

Credit Scoring Small Businesses Default 75

Fundera

MARCH 11, 2019

How Large of a Business Loan Can You Get? How much of a business loan you can get is primarily a function of your business’s annual gross sales, existing debt, and creditworthiness. Most lenders won’t lend more than 10% to 30% of a business’s annual revenue. Your company should be cash flow positive after accounting for all debt payments.

Credit Scoring 75

Credit Scoring Credit and Collections Small Businesses Credit Card Payments 75

Fundera

MARCH 12, 2019

As a small business owner, have you ever thought about how inclusive your workplace is? Although it can be hard to measure, cultivating an inclusive workplace is a proven way to increase your business’s profitability and performance. According to a study by McKinsey, racially and ethnically diverse companies are 35% more likely to financially outperform homogeneous ones.

Small Businesses 74

Small Businesses 74

Fundera

MARCH 10, 2019

Are SBA Loans Personally Guaranteed? SBA loans require a personal guarantee from anyone who owns 20% or more of a business. When you sign a personal guarantee, you authorize the lender to seize any of your personal assets to repay the loan, if business assets aren’t sufficient to cover loan payments. Small Business Administration loans, or SBA loans , are some of the most best loan products out there for small business owners.

Default 74

Default Credit and Collections Small Businesses Business Bankruptcy 74

Fundera

MARCH 22, 2019

Law firm accounting poses some unique challenges. Attorneys have many of the typical business accounting needs like billing, payroll, and accounts payable, but law firms must also be able to maintain and reconcile Interest on Lawyers Trust Accounts ( IOLTA ) and accurately track and bill time spent on client work, producing detailed invoices that are easy for clients to understand.

Law Firms 72

Law Firms 72

Fundera

MARCH 5, 2019

Recurring Payments Definition. Recurring payments are payments made to your small business in accordance with a predetermined schedule that you create. These types of payments are processed electronically, typically from a customer’s credit or debit card. Depending on who you use as your merchant or payment service provider, you can expect a special fee for setting up and processing recurring payments.

Credit and Collections 72

Credit and Collections Dashboards Transactions Credit Card Payments 72

Fundera

MARCH 6, 2019

What Is a Business Tax ID Number? A business tax ID number, also called an employer identification number (EIN) or federal tax ID, is a unique nine-digit number that identifies your business with the IRS. Owners of most types of business entities need a business tax ID number to file taxes, open a business bank account, obtain a business license, or apply for a business loan.

Nonprofit Organizations 71

Nonprofit Organizations Small Businesses Bankruptcy Transactions 71

Fundera

MARCH 10, 2019

The 3 Main Types of Intellectual Property Protection. Trademarks – Used to protect brand logos, company names, phrases, and symbols. Patents – Used to protect manufacturing or design processes. Copyrights – Used to protect original works, such as art, dances, or literature. Most entrepreneurs are very protective of their businesses.

Small Businesses 71

Small Businesses 71

Fundera

MARCH 11, 2019

8 Free QuickBooks Training Resources. The QBO Show. QuickBooks products videos. Fundamental QuickBooks video tutorials. Firm of the Future for QuickBooks certification. QBO Chat. QB Power Hour. The QuickBooks Vcon. Intuit QuickBooks Community support. QuickBooks training exists in many forms and fashions: From expensive QuickBooks certification courses to informal QuickBooks chats, your options are diverse and seemingly endless.

Accounting Firms 70

Accounting Firms Small Businesses Transactions 70

Fundera

MARCH 23, 2019

The Cost of Debt Formula. Cost of debt is the total amount of interest that a company pays over the full term of a loan. The cost of debt accounts for tax deductions that the company can claim on interest expenses. Business owners can use cost of debt to evaluate how a loan can increase profits. The most common cost of debt formula is: Cost of Debt = Interest Expense (1 – Tax Rate).

Deductions 69

Deductions Credit Scoring Small Businesses 69

Fundera

MARCH 16, 2019

APR vs. Interest Rate: What’s the Difference? When you take out a loan, your interest rate represents the interest percentage you will be charged for borrowing the money, but does not include origination fees, closing fees, documentation fees, and other finance charges. APR, on the other hand, gives you a more comprehensive look at how much you’ll pay when you borrow money for a loan by factoring in these costs and expressing the total price of borrowing money in terms of an interest rate.

Credit Card Payments 68

Credit Card Payments Credit Card Companies Small Businesses Default 68