Fundera
MARCH 14, 2019
Every small business owner wants to cut costs and save money for their small business. Why spend your hard-earned cash when you don’t need to? But if you’ve ever sat down and tried to cross off items on your list of expenses, you know that cutting costs is easier said than done. Looking for tips on how you can cut costs in your small business?
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.
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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.
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.
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.
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).
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
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.
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.
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.
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.
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.
Fundera
MARCH 11, 2019
What Is APR? APR is essentially the annual cost of borrowing. It differs from an interest rate in that it includes other fees associated with borrowing, such as origination fees and closing costs. There are multiple types of APRs, such as promotional APRs and variable and non-variable APRs. The lower the APR, the lower the cost of borrowing. Having a high credit score can help you get a low APR.
Fundera
MARCH 13, 2019
Amortization Table: Definition. An amortization table is a data table that details the process of paying off a business loan. Specifically, the amortization table shows how much you are paying toward the principal and how much you are paying toward interest in each scheduled payment. The amortization table is essentially a visualization of the amortization schedule.
Fundera
MARCH 14, 2019
How to Maximize Profit. Leverage discounts. Maximize efficiency. Burden your expenses. Manage your cash flow. Grow responsibly. Profit maximization might be the most misunderstood concept in business. After all, doesn’t it make sense to increase sales as much as you possibly can? Won’t profitability automatically come with those increased sales? It seems counterintuitive, but the answer to that is actually no.
Fundera
MARCH 13, 2019
QuickBooks questions—and the answers that follow them—can open up some pretty amazing features in your small business accounting software. Through face-to-face conversation with QuickBooks users—new and seasoned—we’ve compiled some common QuickBooks questions to ask—then answer. . With this article on 11 of the most common QuickBooks questions, we’ll answer the questions you have—and those you didn’t even knew you had.
Fundera
MARCH 10, 2019
There’s something strangely exciting about setting up a business bank account as a new business. It’s cool to have something with your company’s name on it—it feels totally legitimate. As you go through the process, though, you could run into a few stumbling blocks with the details, with questions including Can I open a business bank account without an EIN ?
Fundera
MARCH 9, 2019
Setting up payroll for small business seems easy, but there are a number of steps involved that growing small businesses need to be aware of. Missing one of these steps can lead to costly fines and penalties. That’s why we’ve created this easy-to-follow, nine-step guide on how to set up payroll for your small business. As you learn how to set up payroll, you should check with your accounting professional to make sure you are meeting all the requirements for your particular situation
Fundera
MARCH 9, 2019
How to Make a QuickBooks Journal Entry in 7 Steps. Select the + icon at the top right of the QuickBooks Online file. Navigate to Journal Entry under the Other column. Enter the transaction date in the date field. Enter the account to be debited and the account to be credited. Fill out a description as a reminder of what the transaction is. Continue adding debit and credit amounts until the entry is balanced, i.e. the difference between the debit column and the credit column is zero.
Fundera
MARCH 15, 2019
Looking into opening a joint bank account with a business partner is a big step. It requires a level of trust with your finances between each other. Making sure you feel the same way about money can be a tough chat. But, luckily, that just might be the hardest part about opening a joint bank account with a business partner. That’s because actually opening up the account isn’t hard at all.
Fundera
MARCH 14, 2019
More than one entrepreneur has found themselves wondering if there are Quicken small business loans. Quicken is one of the biggest names in lending, and s ince they seem to offer fast and dependable service, Quicken Loans sounds like the perfect place to go to request funding for your new or established small business. . That said, it may not be immediately clear whether a Quicken small business loan is even an option—let alone whether going this route for funding would be a good choice for your
Fundera
MARCH 9, 2019
How Is a FICO Score Calculated? Though Fair, Isaac and Company (FICO) is pretty secretive about how exactly a FICO score is calculated, there are certain criteria that they look at including payment history (35%), amount of debt owed (30%), length of credit history (15%), types of credit (10%), and new credit (10%). The higher your FICO number, the more likely you’ll be to qualify for low-interest credit.
Fundera
MARCH 14, 2019
If you have employees—whether full-time, part-time, hourly, or contract—then processing payroll is one of your most important tasks. You also know that payroll requires much more than tracking your employees’ time and handing them a check, and that it’s crucial that you handle this process accurately , as mishandling payroll taxes can result in fees (and no one wants to get into hot water with the IRS).
Fundera
MARCH 12, 2019
Life as a trucker isn’t a walk in the park. You spend long hours on the road, days on end behind the wheel, and don’t always have the luxury of driving your rig over local roads just to hit a bank branch when you need to withdraw or deposit cash. The last thing you want to find out is that your current banking provider doesn’t have a local branch at the town you’re in, leaving you to pay outrageous ATM fees.
Fundera
MARCH 15, 2019
Securing business financing from a bank is no easy feat. But that’s often an even taller order for businesses that operate in low-income areas, as traditional lending institutions often consider these businesses too high-risk to take on debt at an affordable interest rate. Luckily, platforms like Lendistry, a California-based CDFI (Community Development Financial Institution), make business loans more accessible to just such organizations. .
Fundera
MARCH 13, 2019
One of the best ways to protect your company is by buying the right small business insurance. Business insurance protects your company from unexpected situations, such as natural disasters, theft, and product defects. Without insurance, small business owners might lose profits, or even worse, be forced to shutter their doors. Chubb is a well-known name in the insurance space.
Fundera
MARCH 13, 2019
Leasing is a cost-effective way to acquire the use of a fixed asset without purchasing the asset outright. But you must be cautious before entering into a lease agreement. Not understanding the differences between a capital lease and an operating lease can be costly. You might be confused about the differences between a capital lease vs. an operating lease.
Fundera
MARCH 12, 2019
If you’re a new user, it’s easy to become overwhelmed by all of the QuickBooks terms that you will encounter throughout the platform. Especially if you’re also new to the world of accounting. But don’t worry. Below is a list of QuickBooks definitions that every user should know to the most commonly used terms. It’s worth being familiar with these Quickbooks definitions when talking to your accountant or QuickBooks tech support.
Fundera
MARCH 12, 2019
How Much Are PayPal Fees? There are three costs associated with PayPal merchant services: software costs, hardware costs, and payment processing fees. Most PayPal software is free to use, although there are monthly fees for providing a self-hosted checkout experience. In terms of hardware, PayPal sells a variety of mobile credit card readers ranging in price from $14.99 to $99.99.
Fundera
MARCH 12, 2019
If you’re a new user, it’s easy to become overwhelmed by all of the QuickBooks terms that you will encounter throughout the platform. Especially if you’re also new to the world of accounting. But don’t worry. Below is a list of QuickBooks definitions that every user should know to the most commonly used terms. It’s worth being familiar with these Quickbooks definitions when talking to your accountant or QuickBooks tech support.
Fundera
MARCH 11, 2019
Stripe vs. Braintree: Choosing the Best Online Payment Option. If you’re looking for a flexible online payment platform for your developers, go with Braintree. If you want to conduct more international commerce, go with Stripe. When you’re looking to accept payments online as part of your ecommerce or small business website, you’ll have a series of decisions to make along the way.
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