Abrigo
APRIL 30, 2020
Key Takeaways Borrowers must document how their PPP loans are used Borrowers must maintain employee and compensation levels At least 75% of the loan must be used for payroll and other permissible expenses Borrowers must have "economic need" for a PPP loan. This week, a new round of funding was made available for Paycheck Protection Program (PPP) loans.
Fundera
MAY 1, 2020
Positive cash flow is critical to your business’s financial health. Without adequate cash flow, your business will cease to exist—even if it’s profitable on paper. . There are many good ways to improve cash flow for your business. There are also short-term cash flow improvement strategies that could harm your business in the long run. The best ways to improve cash flow maximize your business’s profitability and your available cash at the same time.
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GoCardless
APRIL 30, 2020
What do payment service providers do? Read on to find out.
Abrigo
MAY 1, 2020
Key Takeaways The process for how PPP loans will be forgiven is developing, but lenders can look to guidance so far for key information. Borrowers will be able to request forgiveness eight weeks after the loan is funded; they must provide evidence that expenses should be forgiven. A lender has 60 days from receiving an application for borrower forgiveness to make a decision on the request.
Fundera
APRIL 26, 2020
In the wake of the coronavirus outbreak , the mandated closures of non-essential businesses, a dramatic decrease in foot traffic to essential businesses, widespread layoffs, and an overall decline in consumer spending has had a seismic impact on the global economy—and small businesses have been hit the hardest. . Special small business loan and funding programs like federal grants, disaster relief loans , and the Paycheck Protection loan have all been developed to provide small businesses with a
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
GoCardless
APRIL 29, 2020
When do you have to start paying taxes? Read our guide for more information.
Abrigo
APRIL 30, 2020
Key Takeaways Federal and state banking regulators have eased coronavirus workout pressures. There are several criteria a borrower must meet in order for a loan modification to be eligible. Lenders should develop a comprehensive workout strategy. The federal government, agencies, and financial institutions (FIs) have been working diligently to mitigate the impact of the coronavirus on businesses and individuals.
Fundera
APRIL 26, 2020
Payment apps have become an essential financial tool for businesses and consumers alike. After all, as a business owner, you likely have customers who want to pay with contactless payments, vendors who prefer to invoice online, and competitors who are moving all of their payment processing onto smart devices. In short, if you’re not currently using a mobile payment app to accept, process, and monitor payments, you’ll want to consider how one of these products can benefit your busine
Abrigo
APRIL 28, 2020
Key Takeaways. You must be able to explain any artificial intelligence used in your BSA program. BAM+ includes five machine learning scenarios that are fully transparent. AI will never replace the necessary human element of BSA. Abrigo introduced five new machine learning scenarios. Abrigo recently introduced five new scenarios to BAM+, their industry-leading AML software, that utilize artificial intelligence (AI) and machine learning (ML) to help BSA departments catch more suspicious activity.
Abrigo
APRIL 27, 2020
Key Takeaways The FFIEC updated four sections of the 2014 BSA/AML Examination Manual. The updates are not revisions nor do they include changes to current regulatory expectations. Your BSA/AML examination should be based on risk as justified in your enterprise-wide risk assessment. . BSA/AML professionals have been anxiously waiting revisions to the 2014 BSA/AML Examination Manual (Exam Manual) published by the Federal Financial Institutions Examination Council (FFIEC) , the interagency body
Fundera
APRIL 29, 2020
If your business website runs on WordPress and you use WooCommerce as your ecommerce platform of choice, you may be wondering how to enable the WooCommerce QuickBooks integration to sync your sales information with your accounting software. While there’s no built-in integration for Quickbooks and WooCommerce, you can use a third-party solution to connect the two.
Fundera
APRIL 28, 2020
In the wake of the coronavirus outbreak , restaurant owners are heavily relying on food delivery to keep their operations running. But as a restaurant owner , you probably know how stressful it can be to get a handle on the logistics of those deliveries. No reason for you to stress over that: Food delivery software is here to help. Working with third-party delivery platforms like Postmates, Seamless, GrubHub, UberEats, and Caviar is a great option for boosting your restaurant’s visibility, but
Fundera
APRIL 27, 2020
Braintree Review, Summarized. Pros: Limited fees. Simple, straightforward solution for online payments. Can accept a variety of payment types and currencies. Great developer tools. Included dedicated merchant account. Cons: Not well-suited for brick-and-mortar businesses. Expensive to use an existing merchant account. Some of the world’s largest tech-forward companies, like Uber, Yelp, and Dropbox, use Braintree Payments as their payment platform.
Fundera
APRIL 25, 2020
Worldpay Review, Summarized. Pros: Full-service payments solution. Scalable for growing businesses. International reach. Provides dedicated merchant account. Cons: Pricing. Lack of transparency. Negative customer reviews. Worldpay (formerly Vantiv and currently owned by FIS Global) is one of the largest merchant acquirers in the United States, but is it right for your business?
Fundera
APRIL 25, 2020
Online commerce is quickly and steadily on the rise, especially for younger consumers. Not to mention, in times when access to in-person retail operations are challenging, it’s more important than ever to learn how to start an online store. Whether you’re just starting a business or want to bring your existing business into the ecommerce age, you can easily learn how to set up an online store.
Fundera
APRIL 25, 2020
Revel POS is a full-service, iPad-based point of sale system well-suited for larger, high-volume businesses—particularly restaurants—who are looking for advanced software with a wide range of capabilities. Pros of Revel POS. Powerful POS software. Restaurant-specific features. Included payment processing. Customizable hardware. Open API. Cons of Revel POS.
Fundera
APRIL 30, 2020
7 ADP Alternatives. Gusto Payroll. Paychex. QuickBooks. Square. Patriot. OnPay. Wave. Properly running payroll keeps employees happy and committed to their jobs, but it can be quite a process for business owners. That’s why payroll services for small business owners can be particularly helpful. . However, with a variety of software options, each offering a host of different features at different price points, it can be hard to choose the best one for your business. .
GoCardless
APRIL 29, 2020
Our comprehensive guide for how to complete a VAT return.
GoCardless
APRIL 29, 2020
Learn more about the importance of requisition forms with our handy guide.
GoCardless
APRIL 29, 2020
Find out how to measure customer loyalty and retention with our useful guide.
GoCardless
APRIL 28, 2020
Learn more about establishing a line of credit for small business, right here.
GoCardless
APRIL 28, 2020
Learn more about the retained cash flow formula with our definitive guide.
Fundera
APRIL 27, 2020
IRS Section 179 Deduction. The Section 179 deduction allows businesses to deduct the entire amount of an asset in the year it was purchased, rather than deducting a smaller amount over a number of years with the depreciation method. The maximum deduction cannot exceed $1,040,000 for the 2020 tax year or the business’s taxable income for the year. To take a Section 179 deduction, businesses must file IRS Form 4562 with their federal income tax return.
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