Categories
Finance

Bookkeepers Should Make The Most Out Of Accounting Reports

Typical bookkeeping operations may include these items: cash processing, payables processing, inventory accounting, debt accounting, sales and collection activities, fixed assets and depreciation, payroll activities, payroll taxes, income tax filings, etc.

Financial Reports

Whether bookkeepers are still mostly solving their daily problems with spreadsheet, or cloud-based accounting software such as Xero or Quickbooks, it is important for the book-keeper to have the ability to compilethe key financial reports from scratch or through the Quickbooks/Xero software. Such key reports usually include the balance sheet, income statement, and cash flow report.

A business that provides services to customers may often have to monitor unpaid invoices and/or upcoming invoices through the accounts receivable aging report (also known as a schedule of accounts receivable).

An Example

For example, a typical accounts receivable aging report would display line by line the customer name as a summary with these metrics in the column: 0-30 days, 31-60 days, 61-90 days, total amounts, etc.

Assume the report is generated through software such as Quickbooks or Xero. The columns that show the date ranges (such as 0-30 days, etc) may be re-configured or re-arranged in a way that suits the accounting requirements of a particular company.

The report would contain invoices in the majority, but may display credit notes.

A typical use of this report is to view the current payment status of all the outstanding invoices.

Auditors may use the report to select invoices in which they are to issue confirmations as an exercise of the year-end activities of the business.

A business with many vendors in which services are received may have to monitor through the accounts payable aging report. Bookkeepers can always apply the similar concept (mentioned above) to customize this report.

The Bookkeeping Skills

When you go back to the basics, the book-keeping work of a typical bookkeeper person on a daily basis may involve the person knowing most or all of the following items:

Have the required practice experience in the principles of accounting and the nature of the accounting cycle.

Have the ability to identify the scenarios when different structures of the chart of accounts are used.

Have the ability to identify and use different types of subsidiary ledgers.

Understand and have practice experience working with the steps involved in closing the books.

Have the ability to review all the financial statements and provide the necessary insights to the business owner.

Have the knowledge of all the different formats where the financial statements can be presented.

Have the practical experience to deal with the processing of billings, cash receipts, payables, expense reports, payroll, and more.

Understand how to work with the reimbursement rules that would translate into expense reports.

Understand the types of inventory tracking methods, and be able to estimate the cost of ending inventory.

Categories
Business

What Kind of Services do Proposal Writing Companies Offer?

The Government is the largest buyer in the United States, and they use Federal Contract as the main tool to acquire services and goods from vendor businesses of all sizes.

Companies participating in the Federal marketplace need to be prepared, understand well the procedures, and be able to submit a persuasive solution. Many businesses, no matter the size or level, choose to get professional help in order to improve the quality of their competition.  There are many proposal writing firms capable of producing irresistible products, and you can count on them to respond properly to an RFP.

Although services offered vary depending on the firm, most of them comprise:

Business Development Management

This service is provided by highly professional business experts who will analyze your capabilities and develop a unique winning strategy for you. They will implement sophisticated techniques to secure resources, determine how you’ll make your offer to the buyer (Federal agency), and ultimately guide to make the right decision.

Bid/No Bid Decision

One of the first steps that have a decisive impact in your P-Win is the right decision to bid or not to bid for a contract. Experienced firms have the knowledge and the ability to weigh your potential of win; therefore, they’ll guide into making the decision based on a realistic assessment. The most common practices to understand your winning chances are:

  • Bid/No Bid Matrix
  • Bid/No Bid Checklist

Capture Management

Once you’ve decided to pursue a Federal business opportunity, you need to prepare in order to gain competitive advantage. This is probably the most important process of proposal preparation. In this phase, you must conduct intelligence assessments, gather data about everything that concerns and influences the result of your project. Here you qualify your leads, establish relationships with your customer and determine the key points you should focus your solution while writing the proposal.  The process includes capture:

  • Consulting
  • Planning

Proposal Development 

Finally, we’ve arrived at the final step. However, it’s a very big step. It’s time to put to work everything you have collected from your research, resources and start planning the content and the solution you’re going to give to the problem issued in the final RFP solicitation. This is a service that requires extensive expertise, excellent writing skills in order to create a compelling and convincing proposal. Analytic/critical thinking is also necessary in order to review the proposal from the perspective of evaluators/decision makers.

  • Consulting
  • Writing
  • Review
Categories
Business

Why do small businesses require Professional Tax Preparation Services?

Taxes are an important thing in the lives of individuals and companies. It is especially hard for small companies as they have to deal with a lot of things. Most of them try to get the tax return done by their in-house accountant, or the owner may choose to do it by themselves. But often it may get tricky and result in chaos. Hiring a professional will help a lot in case of trouble. They are also able to advise that an accountant may not be able to give. It is easy to get the services these days. One has to type in something like ‘tax preparation services Lakewood CO’ on Google or any other search engine. It would lead to several choices in their desired area.

Benefits of getting professional help for taxes:

  • The best part about getting professional help is that it reduces the pressure. Small business already has a lot to deal with. People who aren’t savvy with taxes may find it very difficult. So, hiring a professional will help them do that quite easily. Professionals also know the necessary steps to file the tax returns. The also give analysis on the yearly estimated tax and other things related to it.
  • Errors are a huge thing when it comes to filing taxes. An error can even cause a legal issue which a small company will never want. Every individual who does not do taxes regularly is prone to these mistakes. A small calculation error can also be bad for the company. A professional will go through the information several times to make it happen without any error.
  • Professional Tax assistants know what they are doing. Unlike a novice, they know the intricacy, and they assist in getting the deductions and returns. For a small business, it is extra important as they are always on a budget. They will know the right way to present it and which things to use.
  • Legal consequences are the last thing a small company wants to deal it. If any fault is found in the taxes during an audit, it may lead to fines. They will make sure that everything works out perfectly. They also hear people out if a mistake is found by the client.

A small business should always be on time for taxes. A professional package from toronto tax accountant often includes all necessary advice and other things to do with it. It helps any business in keeping themselves out of any tax troubles.

Categories
Insurance

How to File Claims for Medical Negligence

When you visit a doctor, get treated in a hospital, or go to the dentist, you entrust them to provide professional care and treat your condition appropriately. Unfortunately, that is not always the case and sometimes your condition may worsen due to receiving the wrong care. Medical negligence cases can be complicated, but if you have received the wrong or careless treatment, then you may be able to receive compensation.

What Is Clinical Negligence?

Cases of negligence on part of the provider are assessed by what care you should have received compared to what you did receive. When trying to prove the case in court, the standard is not if the care you received is what other doctors would do, but what should have been done. The court may take into consideration alternative courses of treatment that may have provided a better outcome to consider if the provider acted negligently.

Filing a Claim

Although some outcomes may not be settled immediately, a claim should be filed by a medical negligence lawyer in Middlesbrough as soon as the negligence and its effects are evident. Since most cases will be against NHS, as they are the largest provider of medical services in the United Kingdom, they can take 12 months or longer to decide.

Although the NHSLA, or the National Health Service Litigation Authority, pledges to settle cases of negligence in 12 months, they can take much longer. Providers will often deny they committed negligence, which leaves the burden of proof on the plaintiff. A solicitor will bring in medical experts to try to show the course of treatment a patient received was not what should have been done and the damage it caused.

Filing for a Family Member

If the person who received the care is under 18 or cannot represent themselves due to their mental state, the injuries they received, or if they are deceased, then you can file as a “litigation friend”. If the patient died due to their care, then the focus of the case will be on the emotional stress, pain, and impact of their loss on the family.

Otherwise, the negligence case will focus on how the injuries received affected the life of the patient and how it may impact the rest of their life. If you win your case, the court considers two elements when awarding damages: compensation for the effects of the injury, which includes pain and suffering, and compensation for financial losses the patient, or family, incurred.

If you think you may have a case for clinical negligence, you need to consult a solicitor. They can determine if you do have a case, and then file it for you.

Categories
Branding

Reviews and your Revenue

Online reputation management is a service that can help hide the negative internet content that is harmful to your brand. Using several techniques that work behind the scenes of search engines, a professional team can pinpoint the most harmful negative content on the web that is reaching your target audience and harming your bottom line. After figuring what the problems are, they work in tandem to ensure the visibility of said content is lowered, lowering the possibility of future clients ever seeing it.

Perhaps there has been a negative review written by an unhappy client that is visible on the first page of search engine results, right alongside your brand’s website. Or maybe one of your top level employees or investors has a past incident that is impacting your business’ bottom line. Maybe a journalist wrote a scathing review about your brand that got tons of visibility simply because of where it was posted, and not because it rings true. These are all instances of negative internet content that can affect your brand. However, these are all problems that have solutions.

While there may be no quick fix, there is definitely merit to an ongoing campaign that targets the root of the problem. Wherein the problem is that negative content about your brand has high visibility in search engine results, counteracting that with positive content, as well as creating more channels that lead to your page, will change search engine results over time. This means that clients, potential clients, and partners will no longer see the unfavourable content. Rather, they will be subjected to your personal website, and reviews, media pieces, and blogs that speak highly of your brand.

Another issue that often plagues brands are personal stories about employees or investors. Whether or not the story is relevant to your brand is not the issue. The issue is the negative connotations that derive from the negative content and the link with your company. With the nature of the internet and the connections that are easily, and quickly, made; One small blip in a person’s persona and your company can feel the effects. Let a team of online reputation managers work diligently to hide the negative press, therefore easing the burden it has left on your brand. 

Managing your brand is more important today than it was thirty some odd years ago, and the reaches of it can be felt more far and wide than ever before. Let the internet be a friend to your brand and reap the benefits of positive visibility!

Categories
Marketing

What Different Kinds of Promotional Banners are there on the Market Nowadays?

If you walk down any high busy street in nearly any country on the planet, you will invariably see them on display. Promotional banners can vary in their shape, material, and design.

  • A number of them are created for particular events and occasions, but a lot of promotional banners of this kind can be reused for other events in the future.

A small number of folk will make their very own promotional banners with the use of kits and lettering, but the majority of people utilising the most striking banners, are those designed and made by professional companies that are experts in printing for businesses.

Popular Vinyl

One of the most typical sorts of promotional banner you will see used nowadays involves the printing of the message on sturdy vinyl.

A rectangular banner of this design is normally made to hang over a large area, like a shop front, and can involve a number of grommets that are used to hang and prevent banners from tearing apart.

And Lighter Kinds of Materials

There are also other types of banners which are constructed of lighter materials that can come in a number of various designs.

  • For instance, sail banners are much favoured for events such as trade shows and other indoor areas, but are not really suitable for outdoor usage.
  • Standing retractable banners are portable friendly and can be made up in a number of styles and designs.

Typically, nearly all promotional banners which are constructed to be used at occasions like trade shows, are much lighter and more portable than others which have been made for fitting at a shop.

Some Differences are indeed Minimal

Differences between a promotional banner and a promotional flag are somewhat minimal, although a number of folks do differentiate between such items by the method in which they are held in place.

  • Banners are commonly hung from both sides, whereas a flag can wave in the wind or can only be supported on the one side.

Whilst rectangular shapes are mostly favoured, you may have seen sometimes some curved designs used for banners and flags.

Printing Methods

There is also a big difference in printing techniques for various styles of promotional banners. Modern style graphics printing has made it much easier to design and create banners (including photos and other intricate designs), even though a lot of banners make use of vector graphics due to the size of the job.

Best Advice and Service

  • Nowadays, a lot of banner printing companies provide professional design consultation and superb advice should any design not be of a high enough quality to print to a specific size.

Anybody who is considering and seeking such promotional banners should contact and consult with seasoned experts in the business for the very best results.