Personal Business Cards » Accounting

Finding Business Resources

admin — Fri, 30 Apr 2010 08:43:32 +0000

There are all kinds of business related information readily available in various websites. Everyday millions of web pages are updated in internet related to small scale businesses. Entrepreneurs seems to search all kind of information through yahoo or Google and solve their problem in minutes.

A few years ago, businessmen have to depend on books and from the teachings that they have learned from their business degrees to learn of business resources that they can use to manage and boost the growth of their businesses. Liquidating the profits of the business, for example, needs some knowledge in accounting. With the introduction of the computers and related technologies, however, business resources for entrepreneurs become more readily available. A number of online business resources and tools, for example, are now available for any businessman who wishes to take advantage of business resources to improve the sales and profits of his business.

Important functions in a business organization such as preparing the payroll and accounting items for sale also becomes much easier given the number of business resources and tools that can be downloaded or used through the world wide web.

You will therefore find the internet a very useful source of different business resources and tools if you are looking for business resources for your company. Never underestimate the importance of learning from your business colleagues though and the value of reading materials such as books and magazines that can provide you with business resources information that you can use. Many businessmen also learn of better business resources by enrolling in business degrees.

By: Janaki Patro

Free Business Study Courses

admin — Tue, 09 Mar 2010 11:28:43 +0000

Although it may sound strange that you can actually get something for nothing, there are some free business study courses available on the internet these days. It is possible to be instructed by business professionals about how to start up in business and all the information that you could need to run a successful company.

There are courses that will cover everything that you need to know right from the ground floor of evaluating the potential for your business all the way to understanding international trade, obviously for once your business has grown a little! These courses are absolutely free and presented by members of the business community who have been through all the trials and tribulations of staring and running their own companies. Now they are keen to pass on the knowledge that they have accumulated and do what they can to help the next generation of business entrepreneurs make a success of their enterprises.

Usually the courses are split up into topics which will include the legalities of a business such as licensing and insurance. They will teach you all about accounting and finance, advertising and marketing, absolutely everything that you could ask for. Free business study courses such as these are doing a lot to give people the confidence that they need to set out and make a success of what was previously just a dream. It is very hard to launch yourself into the commercial world of running a business when you have no experience and it is easy to make costly mistakes.

With free business study courses such as these you will often get special features such as templates for writing business plans and cash flow forecasts etc. It is not easy to walk into a bank and ask for financing for your business idea without something written down by way of financial projections and cash flow forecasts. Most people who are inexperienced in the world of business would have no idea where to start, but with a course such as these giving you templates to construct your business plan you will have the confidence to walk in and convince the bank that your idea is credible.

Some of these free business study courses offer a more advanced level course as a follow up to the basic course which unfortunately does not come free. Also they will make available text books available at a cost. Although this may sound as though they are only offering half of what you need, this is not really true. They do offer a vast amount of information absolutely free in a carefully presented and invaluable course which will give you the knowledge and confidence to take that step and start your own business.

By: Ian Pennington

Credit Cards for Small Business

admin — Wed, 14 Oct 2009 20:43:41 +0000

When you decide to start a small business, you find out pretty quickly that it takes more than skills and dedication in your respective area of work. Besides being good at what you want to do, you also need to known your accounting and financing issues, no matter how annoying and boring these may be. And the credit card problem for small businesses needs careful handling, just like that of a regular, personal credit card.

Choosing the right type of credit card is vital for the success of a small business. Even if you don’t have access to a corporate credit card, a small business card can be a major tool on the path to success. When you apply for a small business credit card, lenders will analyze your request from a variety of points of views. While their evaluation of the risk may vary according to various local factors, they will all take into account the “five Cs”: capital, capacity to make the payments, collateral, conditions and character.

Capital, meaning your personal investment in the business, outlines not only the size of the business, but also how much risk you are willing to take. Balance risks carefully – too much means you will be rated reckless, too little, and the lenders may think you are not serious about this. The capacity to repay the loan is, of course, critical for the lender and will be carefully analyzed. The collateral or the guarantees will show that you have a backup plan for returning the loan, in case things go wrong. The conditions represent the general situation in your geographical area and your respective line of business – mostly things that you cannot control (but you can make them look better in carefully planned business plan). Last but not least, character is the impression you make on the lenders – how trustworthy and business-oriented you appear to them.

If you take all these into account, your application is more likely to be successful right from the start. Of course, you also need to consider, carefully, which type of business card suits your needs.

Many small businesses rely on cash flow to pay for suppliers or contractors, because they need to purchase materials and services before their own clients pay up. You need to calculate the difference between the date when you purchase the materials and the date when the clients pay you back. If this is shorter than 30 days, go for a card that doesn’t charge you interest for the respective period. If it is two, three months or longer, go for a low interest card.

Also, you should think of how often you will have to travel for business-related purposes, and how a special type of credit card can help you with this, or how you will handle unprepared emergency situations that hustle small businesses constantly.

Some of the offers for credit cards for small business include Blue for Business Card – no annual fee, 0% intro APR for the first 9 months, credit line of up to $50,000 or Blue Cash for Business Credit Card – up to 5% cash rebate, no annual fee, 0% APR for up to 15 months. Advanta Platinum with Rewards, featuring cash back bonus, offers 0% intro APR for balance transfers, up to 50,000 credit line and various types of rewards for the things you buy most often (gas, office supplies and so on), bonus miles or cash back.

The CitiBusiness card has 0% APR for purchases for the first 6 months, no annual fee, a generous credit line and additional cards for the employees, with a credit limit set by you. The Platinum Business Credit Card from American Express has no annual fee and 0% APR for the first nine months on purchases and balance transfers.

Other options include Business Green Rewards Cash – no fees for the first year and no pre-set spending limit, and the Business Cash Rebate from OPEN: the Small Business Network, with up to 5% cash rebate, no annual fee, 0% APR for the first six months, no limit for cash back and no minimum spending requirements.

By: Jeremy Zongker

Business Credit Cards – A Way to Help Track Business Expenses

admin — Thu, 20 Aug 2009 03:56:24 +0000

Whether you’re starting up the new business or have been established for a number of years, the use of business credit cards can be a great benefit to your business. These cards come in handy when it comes to handling operating expenses or unexpected costs. On top of that, paying off the credit card bill on our regular basis can also help a company build its credit standing and improve its ability to obtain loans for future expansion and growth.

Virtually all business credit cards are going to be a under the name of the owner of the company. The credit card issuer requires this information and holds that cardholder responsible for the payments. Various financial institutions, as well as banks, will require a name and other personal information before even considering issuing you a card for your business. Interestingly enough, even if the business has an outstanding track record and has a good credit rating, if the owner of the business has a lousy credit rating, the rates offered to the business will be higher.

Many card companies will offer various programs for businesses and will also supply detailed billing information that can be used for accounting purposes. Having detailed billing will provide the business owner with information on every purchase made as well as providing proof when it comes to tax deductions. The majority of business credit cards require written authorization for charges being made by someone other than the business owner. This is a good safety mechanism to have because it will protect the business from fraudulent use.

Business Credit Cards Can Help Preserve Cash

Depending on the interest rate of the business credit cards that your company is being charged, if you need to upgrade assets and equipment, it may be cheaper to purchase them on your credit card instead of using your business cash. Of course, there will be certain business expenses that you will not want to charge on the card, such as payroll. However, assets such as office furniture or equipment, treated as an asset investment and with lower credit card rate, can make better economic sense that paying with cash. The tax deduction could be
higher then the interest you will pay.

Once you have received your business credit cards, care and caution will be required. One thing for sure, you do not want to use these cards for personal use. First and foremost, it will be necessary to keep your personal and business expenses separate for both tax and accounting purposes. You do not want to have your business paying interest on your personal stuff, such as a family’s night out at the movies or a trip to the supermarket store. Any personal charges inadvertently charged on your business account will have to be well documented in order to maintain proper legal separation. That being said, a business credit card is a great tool for any business to have. Just make sure that the card is used for business purposes only.

By: Kerry Ng

New Business Credit Card

admin — Fri, 14 Aug 2009 08:10:00 +0000

If you have a new business and are thinking of the best ways to manage your money, then maybe you should consider getting a new business credit card for your company needs. If you have a credit card for your business, it makes money management and purchase monitoring so much easier for your accounting purposes. This may mean that you will have to make extra precautions on paying bills on time and choosing the right trustworthy employees to use them, but in the end the advantage will be that you will have better records.

Having a new business card has several advantages. First, itemization of expenses is done automatically by the credit card company which makes monitoring easy for you. Second, you can prevent mixing personal and business money by using the credit card for purely business expenses.

Third, this is a good way to manage the expenses of the business and to control the purchasing that your employees will do for you. Because of the transactions records that will come to your business regularly from the credit card company, expenses are easily traceable and accountable. Fourth, getting a business card will also help your business build up its credit history and credibility as an entity.

By creating and maintaining a good credit history for your company, you can be sure that banks will be more than willing to extend your business a good loan at low interest when that time approaches. Fifth, by availing of a company credit or store card, you can be guaranteed that many banks and companies will give you great deals and rewards whenever you use your card to purchase supplies and equipment.

By: Elija James