Abrigo
JULY 19, 2019
Last week, the Federal Reserve hosted a stress testing conference in Boston, MA. The conference brought together regulators, bankers, economists, and others to discuss the most important annual check on the stability of the banking system. The initial stress test conducted in 2009 was described as a “wartime” test meant to reassure the public that the system was solvent, and it was very effective.
Fundera
JULY 16, 2019
Business travel is essential for business owners, executives, and employees in a number of industries. Whether you’re attending a conference, meeting a client, or staking out a new business location, work sometimes requires you to be away from your company’s home base. . According to research by Expedia, more than 60% of travelers extend business trips for leisure purposes.
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GoCardless
JULY 18, 2019
Learn everything you need to know about Strong Customer Authentication (SCA), and how you can prepare your business in our on-demand webinar.
Eastern Credit Management Services
JULY 15, 2019
More often than not you may wrack your brain when you are trying to make contact with a customer who has a past due account. If you can easily reach them wonderful, but if they keep breaking their promises to pay they can be as frustrating as a customer you cannot reach. Fret no longer, as this entry in our blog is going to explore how to deal with customers who keep breaking promises to pay on their past due invoice and how a collection agency can help.
Abrigo
JULY 17, 2019
One of the most important business relationships you will have is the one you maintain between your institution and your examination staff. This is not a relationship that only needs attention during the exam process. Instead, this relationship should be nurtured by both sides on an ongoing basis. In order to establish and maintain a strong, communicative relationship with your examiners, these five tips should be followed: Utilizing examiners as subject matter experts : Many compliance profess
Fundera
JULY 18, 2019
At one point or another, small business owners find themselves faced with the opportunity or need to travel to pursue new partnerships, build relationships with customers, and ultimately grow their businesses. The costs of business travel can quickly pile up, especially with purchases you weren’t expecting. (Overpriced cup of coffee at the airport, anyone?
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
JULY 15, 2019
Having a side business on top of a day job isn’t necessarily easy, but it is becoming pretty mainstream. Whether you dream of starting a business one day and hope to grow your side business into a full-time gig or want to supplement your income or pursue a passion in your free time, a side hustle can be a great solution. In fact, as of 2017 over 44 million Americans had a side hustle ; and thanks to an increasingly mobile or freelance-based workforce, the side hustle trend isn’t likely to slow d
Fundera
JULY 15, 2019
The Best Ecommerce Platforms for Small Business. Shopify : Best ecommerce platform for overall functionality and usability. BigCommerce : Great Shopify alternative with better options for themes, design, and accepting payments. 3dcart : Best Shopify alternative for built-in features and payment options. Volusion : Simpler Shopify alternative with cheaper processing rates.
Fundera
JULY 15, 2019
For all its functionality, from handling onboarding to performance reviews, training, and benefits administration, one thing HR management software can’t handle all on its own is building a highly engaged, collaborative team. The responsibility falls to company leadership to unify employees across departments and to encourage teamwork and a collective commitment toward a shared goal.
Abrigo
JULY 17, 2019
Cybercrime is on the rise within financial institutions and other businesses and continues to be at the forefront of the minds of those in the fraud prevention field. Bad actors are staying one step ahead of detection creating serious hard dollar losses for financial institutions. Cybercrime is defined as a criminal activity (such as fraud, theft, or distribution of child pornography) committed using a computer especially to illegally access, transmit, or manipulate data.
Abrigo
JULY 17, 2019
Small public banks, privately held banks, and credit unions will get extra time to get CECL right, based on a move by the Financial Accounting Standards Board Wednesday. The FASB took the first step toward providing at least an extra two years for smaller public companies and an extra year for all private financial institutions to implement the current expected credit loss standard, with members saying they expect the longer timeframe to promote a higher quality, smoother implementation.
Abrigo
JULY 15, 2019
After more than a decade of steady economic expansion, many experts are forecasting an impending economic downturn. Nearly half of CFOs in the U.S. expect a recession by the end of 2019 – and 82% believe a recession will have begun by the end of 2020, according to the Duke University/CFO Global Business Outlook survey. Would your institution be ready for this?
Fundera
JULY 18, 2019
As a child care professional, you know that there is far more to setting up a daycare than playing with kids all day. These types of businesses require big capital for big purchases, which often require loans for child care businesses or daycare equipment financing. No matter whether your needs for daycare loans are big, such as renovating a building and transforming your center—or smaller, like making sure your assistants get paid, there’s a capital solution that’s right for you.
Fundera
JULY 16, 2019
Accounts Receivable Turnover Ratio. The accounts receivable turnover ratio is used to measure how effective a company is at extending credits and collecting debts. You can calculate your business’s accounts receivable turnover ratio by dividing your net credit sales by your average accounts receivable. This accounts receivable turnover formula, in other words, looks like: Net Credit Sales / Average Accounts Receivable.
Fundera
JULY 19, 2019
How to Set Up Square Online Store in 7 Steps. Create your Square account and provide your business information. Customize your online store website. Add your products. Choose a domain name, if applicable. Set up shipping, taxes, and checkout options. Launch your online store. Promote and manage your store. If you’re a small business owner, you’ve more than likely heard of Square.
Fundera
JULY 19, 2019
Shift4 Payments Review. Shift4 Payments is a large payments technology provider based in Pennsylvania. Their flagship product is the Shift4 payment gateway, which can integrate with a wide variety of POS tools and features advanced security features. Shift4 Payments also sells restaurant POS systems, business intelligence tools, POS hardware, and gift cards.
Fundera
JULY 17, 2019
Starting a Business in PA: An 8-Step Guide. Step 1: Choose a business name, and the type of business entity you want to start. Step 2: Create a business plan. Step 3: Register your small business with the state of Pennsylvania. Step 4: Register for tax and employer accounts with the state. Step 5: Complete any local taxes, zoning requirements, licenses, or permits.
Fundera
JULY 13, 2019
You might have heard money talk show hosts talk about a business that is a “going concern.” The term “going concern” even comes up in everyday conversation from time to time, or, more likely, if you’re talking about business accounting with your fellow small business owners. The going concern principle is one of the key assumptions under generally accepted accounting principles (GAAP).
Fundera
JULY 18, 2019
Harvest Review. Harvest is a software designed to help small business owners better manage their time and finances. It includes time tracking, expense management, invoicing, team management, and scheduling tools. Harvest offers a free subscription as well as two paid subscriptions that each cost $12 per month. When your business’s financial operations are running smoothly, it makes everything—including managing your business accounting needs—that much simpler.
Fundera
JULY 17, 2019
What Is a Corporate Resolution? A corporate resolution formally documents the decisions of a corporation’s board of directors. The board votes on resolutions during a board meeting or in writing. All states require corporations to use corporate resolutions to record important business decisions. Without proper corporate resolutions, owners could lose their limited liability protections.
Fundera
JULY 17, 2019
The 6 Best Employee Scheduling Software. When I Work. Humanity. Ximble. Deputy. Shiftboard. HotSchedules. Say you operate a restaurant and you’re making a schedule for the week. Your job is to allocate your workforce in such a way to maximize productivity while ensuring labor costs don’t exceed sales. You also have to comply with regulations regarding minimum wage, overtime, and local worker “ Bill of Rights ” measures that have been enacted in some cities.
Fundera
JULY 15, 2019
AccuPOS Review. AccuPOS is a POS system that is best known for its powerful accounting integration with both QuickBooks and Sage. With AccuPOS, you can essentially combine the functionality of your accounting software with the functionality of your POS software. AccuPOS offers solutions for both retail and food-service businesses. Pricing is quote-based.
Fundera
JULY 14, 2019
Your small business is your livelihood, meaning you need to make sure you actually get paid for the goods and services you’re offering. Small business owners, including freelancers, know good invoicing software can be a key part of your business accounting plan and to staying organized and keeping your business operating smoothly. . Luckily, there are plenty of invoicing software options, one of which is Invoice Ninja.
Fundera
JULY 13, 2019
As a service-based business owner, you know how beneficial it can be to outsource your appointment scheduling system to a cloud-based software, as it saves both your staff and your clients valuable time—and Appointy is just one of several powerful appointment scheduling software options on the market today. . Appointy is scalable, online appointment scheduling software that enables customers to schedule appointments, classes, workshops, events, tours, rides, and/or activities with your business.
Abrigo
JULY 19, 2019
With all that AML professionals must do each day, sometimes important advisories and updates get overlooked. On July 12, 2019 FinCEN issued an advisory referencing the June 21, 2019 Financial Action Task Force (FATF) publication which updated its list of jurisdictions with anti-money laundering and combatting the financing of terrorism (AML/CFT) deficiencies.
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