Accounting/Banking/Credit

Accounting/Banking/Credit (92)

Small Businesses Look to Fintech to Change How They Seek Financing

The rise of artificial intelligence, big data and machine learning is changing the way small businesses are doing things. Banking institutions are in a hurry to collaborate with fintech providers to find solutions that offer small businesses an opportunity to seek financing. In countries like the United States, for example, there are more than 30 million small businesses that make up about 99% of all businesses in the country. They offer employment to millions of citizens and contribute immensely to the economy. As the gig economy continues thriving, financial institutions are seeing a booming market that can generate massive returns from small businesses.

Read more...

The Importance Of Establishing Payment Terms

Do you see yourself in the following? Your customer base is starting to increase, you’ve shipped your product on time, invoiced you customers, and now it’s time to get paid. But, wait—Did you establish payment terms? Many new businesses leave payment up to inertia, believing that payment will follow work provided, but not all customers will observe that formula. For the most part, clients and customers want to do the right thing and pay, but things happen. Sometimes, you find that exception who doesn’t pay timely or avoids payments.

Read more...

Managing Your Cash Flow

Have you ever tried to paddle a boat with no oar? Well, trying to operate a business without  proper cash flow management is like doing this. Even if you succeed, you will have faced an uphill task that is not worth it at all. Delays in paying your suppliers and employees and failing to collect cash from your customers on time can be a big issue to your business and the only way around it is to have a proper cash flow management.

Read more...

Tune up Your SMB Bookkeeping to Avoid Costly Mistakes

The combination of vision, gumption and hard work can bring small businesses to life. Keeping them going, however, can be more of a challenge, especially if management doesn't have a solid handle on financial reporting. That begins with accurate, timely and dedicated tracking of financial transactions and proper handling of various tasks that are essential for a business to thrive, such as invoicing customers, managing payroll and paying the firm's bills on time.

Read more...

How To Prepare For The End Of Your Fiscal Year

Whether your fiscal year matches the calendar year or ends in the middle of September, at some point, you must close the books on this year and open them on next year. What’s the best way to prepare for the transition from last fiscal to the next fiscal year? That depends on the goals for your business.

Read more...

Business Lending: What is a personal guarantee?

 In business lending, a personal guarantee is a very crucial element. It is a legal promise by the owner or owners of a business that in case a business fails to repay a loan, they will personally repay the outstanding debt. Although a loan can help to fund your business, in most cases, personal finances can end up being dragged into the picture in the form of personal guarantee. The banking institutions or other parties that lend money often demand a personal guarantee from the borrower to ascertain that the loan will be repaid even if the company does not have assets that assure repayment on its own.  

Read more...

What Should you Include in Your Corporate Credit Card Agreement?

Well-established companies generally provide their Sales and Executive team with corporate credit cards to use for travel expenses and networking activities such as dinners and Happy Hours. Company-issued credit cards allow employees to expense work-related expenditures without having to rely on their personal credit card alleviating the stress of incurring late fees. If you are looking into the benefits of a corporate credit card, there are a few things you should know before making a decision.

Read more...

Creating a Promissory Note

A promissory note is a crucial document for large transactions. It is used by businesses in consumer lending and other businesses. Some other examples of transactions where the promissory note can be used include home purchases and student loans. Owing to the importance of promissory note, it must be created correctly so that it serves the purpose for which it was intended. It must specify the method of payment and at the same time be simple but reflect the terms of the agreement. These components make the note legally enforceable. Below are some tips t you should consider when writing a promissory note:

Read more...

Best Mileage Cards for Small Business

Small business credit cards are becoming an increasingly popular option for business financing. This is particularly useful for small businesses which do not qualify for traditional loans and lack access to funding organizations.

Read more...

Ask Yourself 3 Questions To Help Find A Financial Advisor You Can Trust

When it comes to financial planning, most Americans take a do-it-yourself approach. In fact, various surveys and studies over the years have shown that anywhere from 60 to 70 percent or more don’t have a financial advisor. But does that mean the remaining minority who do hire someone are more confident about what the future holds for them financially?

Read more...

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline