Tag: Financial

Small Business Financial Tools: Free Startup Budget Template and Guide #start #your #own #business

#small business startup


Essential Small Business Financial Tools: Free Startup Budget Template and Guide

Creating a startup budget is one of the most important tasks a new business owner will undertake. A startup budget serves as a roadmap for the business. It can help you understand where the business is going and whether you’re on the right path. The cost of starting a company varies widely, so it is critical to create an accurate and realistic startup budget specifically tailored to your business.

There are many reasons to create a startup budget. The main reasons are to figure out how much money you have, how much you will spend, and how much revenue you will need to meet your business goals. A startup budget is usually a key component of your business plan and is useful when applying for a loan or pitching to investors. It explains how your business will spend its resources to reach its goals.

Business owners should always refer to their budget before making important business expenditures. This helps to make sure they can afford to spend the money. Decisions such as purchasing new machinery or whether to expand operations should only be made after checking to make sure it fits into your budget. You can adjust your budget as needed over time, but make sure to stick to those changes.

Determining a business startup costs is critical to ensure enough cash is available to begin business operations on time and within the allotted budget. A startup budget usually covers the period leading up to the commencement of operations. It should only include costs that are necessary to start the business. Use this budget to be on the lookout for areas where you can save money .

Startup costs typically fall within two categories: monthly costs and one-time costs.

Monthly costs cover expenses that are incurred each month on a recurring basis. such as employee salaries, lease payments and utilities. One-time costs are expenses that are incurred only once during the startup period. Examples of one-time costs include the purchase of a building, computer equipment and consultant fees.

This startup budget template can be downloaded and used for any type of business. It should be customized to include the specific cost items that apply to the company.

To fill out this spreadsheet, determine the number of months the startup period will cover. Next, enter the applicable costs into their respective cells. The total amounts will automatically populate based on the embedded formulas. Once completed, you will be able to view an itemized list of your business’ startup costs. An example startup budget is also included to help guide you through the process.

Starting a business can be difficult and overwhelming. By taking the time to create an accurate startup budget now, you can give your business the best chance of succeeding in the future.

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Tax, Payroll, Financial Services #business #emails

#small business services


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    Small Business Services in Atlanta, GA

    Professional business advice can make all the difference. Founded in 1990 in Atlanta, GA, Small Business Services (SBS) has emerged as a reputable and creative advisory firm, providing guidance and financial services to the owner-managed, closely held business, and to individuals who can benefit from strategic planning and goal-setting. Our business services include financial planning. consulting. tax preparation. quickbooks training. payroll. bookkeeping. accounting. and small business management solutions. Whether experiencing new challenges or starting new, SBS can serve your company with hands-on involvement.

    We work with small businesses across many industries such as Non-Profit, Real Estate, Design Creative, Retail Restaurants, and Sales Service.

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  • Student Loan Debt: How Much is Too Much? ABC News #college, #university, #graduation, #loans,




    Yahoo!-ABC News Network | 2017 ABC News Internet Ventures. All rights reserved.

    Student Loan Debt: How Much Is Too Much?

    Paul Marotta/Getty Images

    A general view of the gates of Harvard University on April 25, 2013 in Cambridge, Mass. College tuition has skyrocketed in recent years, leaving students with heavy debts.

    Some call it the Student Loan Bubble — I call it crazy. And what better time to discuss student debt insanity than now, as countless soon-to-be graduates prepare to slip on their caps and gowns? An estimated 1.8 million students are graduating this year. many with degrees that perhaps aren’t worth a damn when it comes to actually getting a job. Nevertheless, many of them will soon be paying back the tens or hundreds of thousands of dollars they borrowed to get those nice degrees, and I wonder how many will regret the decision to spend what they spent as they see their interest compound and principals skyrocket through cycles of deferment and forbearance. The college experience can be an amazing one, but is it really worth the cost? (And I’m not just talking about tuition.)

    To get at the heart of this question, I recently commissioned a poll that asked adults of all ages about student loans. We asked how much student debt is okay, and how much is too much. One in five senior citizens and almost a quarter of adults between the ages of 35 to 49 agree that $20,000 to $50,000 in student loan debt is too much to borrow. Maybe that’s because they are in the age range of folks in a position to hire young people. Maybe it’s because college didn’t used to cost so much. At any rate, people of college age, between 18 and 24, disagreed with the old folks; only 16 percent said graduating with that much debt is too much.

    Many respondents believe there should be no limits at all. Among recent graduates, 22 percent agreed that students “should borrow as much as they need,” and “no amount is too much.” Baby boomers and seniors overwhelmingly disagree — only 7.9 percent of people age 65 and up agreed that college students should borrow to the hilt. It seems the marketing of “Don’t Worry, Pay Later” has been a success — at least in younger demographics.

    Clearly, many college students and recent grads take a more cavalier approach to student loans than their parents and grandparents. Research shows that many even consider high debt loads to be empowering and give them higher self-esteem. Conversely, young adults—folks who have labored a few years into the real world — are less enthusiastic about borrowing so much; 73 percent say they owe more in student debt than they can manage.

    “It’s not surprising that the generation that has to borrow a lot more for college believes it’s a necessity for others,” says Lauren Asher, president of the Institute for College Access and Success. “There’s been a big structural shift in how Americans pay for college, and the cost that students and families have to pay has increased.”

    Young adults back their beliefs with more student debt. Just shy of half the respondents — 46.8 percent — between ages 18 and 24 said they have borrowed money to finance a college education. That’s the highest level of any age group. About 40 percent of adults aged 25 to 34 took on student loans, and under a quarter of all Baby Boomers did.

    Loan totals are going up, too. Young adults reported a median debt of $38,100. That blew all other age groups out of the water. Middle-aged adults said they borrowed about $25,000 for college. The average college student has about $26,600 in debt, according to the Project on Student Debt, a 40-percent increase since 2002, and it’s time to find a way to start paying it down.

    Today’s bad economic climate makes this pretty scary. The unemployment rate for Americans dipped to 7.1 percent in April. But joblessness among adults ages 20 to 24 remains mired at 12.5 percent, according to the Bureau of Labor Statistics. When you add in all the college grads working as baristas, waiters and other jobs that don’t require a degree, about 1.5 million bachelor’s degree holders — 53.6 percent — under age 25 are unemployed or underemployed, according to a study by the Associated Press.

    High college debt mixed with low job opportunities equal economic fallout. And if you are wondering why young people are taking on the debt: high school graduates face a jobless rate twice that of college grads.

    Signs of stress are already showing. More than half of all student loans are now delinquent or in deferral. according to a recent study by TransUnion. Further, according to the latest report from the U.S. Department of Education, over 13 percent of graduates default on their loans within three years of leaving college.

    So, riddle me this: how do you buy a car, a home, or start a family (i.e. put the “consumer” into our “consumer economy”), if you can’t even afford a monthly student loan payment. You already know the answer. And so the economy will continue to stagnate, with demand flagging along with everything else.

    As President Obama and the Congress dither over federal Stafford loan rates possibly doubling to 6.8 percent, they have done nothing substantive about the real problem: The Great Recession and a competitive technology job market that colleges and college lenders aren’t catering to. This is the problem that has already killed millions of middle-class jobs that are never coming back. And until our lawmakers get busy on a solution, it’s only going to get worse.

    The new economic age of big, portable, sharable data is here, yet many American students today are still preparing for the economy of the past. Rather than slashing investment in higher education and scientific research, we should be adding to it. We should also be seeking innovative ways to keep a lid on tuition increases while simultaneously working to help millions of American graduates win the kinds of good-paying jobs they’ll need to pay their loans.

    This work is the opinion of the columnist and in no way reflects the opinion of ABC News.

    Adam Levin is chairman and cofounder of Credit.com and Identity Theft 911. His experience as former director of the New Jersey Division of Consumer Affairs gives him unique insight into consumer privacy, legislation and financial advocacy. He is a nationally recognized expert on identity theft and credit.

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    Welcome to oXYGen Financial Inc #financial #planning #programs


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  • IT Financial Management: What vs #internet #businesses

    #business finance


    IT Financial Management: What vs. How

    If you don t know where you are going, then any road will get you there.

    Lewis Carroll, Alice in Wonderland

    Most enterprises understand the benefits that can be derived from increasing IT cost transparency, managing IT like a business, and improving the interaction between IT and business units. Yet, despite the inherent understanding behind these admirable goals, many IT financial management initiatives and implementation projects fail to live up to expectations. They either miss their expected goals, or worse, completely fail.

    Industry analysts have substantiated this claim for years, indicating that on an IT management maturity scale of 1 to 5 (with 5 being highest maturity), the average U.S. large or mid-market enterprise hovers around a dismal 2 on this scale. Clearly, there is a gap between desired goals and operational execution; expectations are not met.

    Applying discipline to the IT financial management what you are implementing and how you and your team are going to implement it. Just as important for everyone on your team is to grasp which one comes first. In other words, an enterprise needs to fully understand the imperative (the what ) versus the means (the how ) to effectively increase maturity in IT financial management processes in order to attain a desired stage of IT maturity.

    So let s start by discussing the difference between the what and the how. Many times enterprises believe that what they are implementing is an IT financial management software application tool. This perception is incorrect and seriously flawed. What they are implementing is a set of IT financial management processes. The software application or tool is how this process will be delivered. Simply stated, the what is the process or set of processes that are being implementing, and the how is merely the tool that will be used to facilitate and support the processes.

    Next, let s discuss the order in which the what and the how need to be addressed. In most aspects of life, a person decides on what they want to do before they determine how they will do it. Stated another way, we define what our goals are, and then we plan how to achieve those goals. Normally, we decide where we want to travel before we decide if we want to take a car, a plane, a train, or simply walk. It is a simple, logical flow. Implementing an ITFM process is simply an aspect of an enterprise s life. It should follow the same logic what before how. The single most important factor in having a successful ITFM implementation is having a thorough understanding of what needs to be implemented before deciding on how to implement it.

    Figure 1 depicts the range of stages of an ITFM maturity model. It is important to understand that a company must fit its goals to the appropriate level of maturity. In other words, a stage 3 level Manage Cost may be desired over a Stage 4 level Competitive Advantage since the incremental efforts and cost to achieve stage 4 may not, for a specific organization, justify the benefits achieved in order to achieve this stage.

    Let s briefly mention some of the considerations that need to go into determining the what :

    Senior leadership must lead an ITFM project. There must be a good understanding of who is sponsoring the project IT, the business units, finance. ITFM maturity is a top-down initiative.

    What are the current ITFM-related processes? Mapping existing processes will help determine gaps and areas for improvement.

    How readily available are current cost and usage drivers?

    How are business and IT performance currently being measured?

    Who will be the winners and the losers with a change of ITFM processes? Can the losers also be turned into winners?

    The answer to these questions will differ by enterprise. That means the what will be different for each enterprise.

    We started this discussion by asking why so many IT financial management projects fail to meet expectations. One primary reason is the lack of a full understanding of the difference between what process or processes are being implemented versus how a change in process will be implemented.

    We have begun the presentation of a course of action and related framework and if followed, the chance of meeting expectations and realizing the business benefits of ITFM will be greatly enhanced.

    In Part 2 of this series of articles, we will describe how you determine the what, which is a rather extensive subject in itself. In Part 3 we will describe the how. Similar to uncovering the what, deciding the how is a detailed process.

    Mike Stiglianese is a managing partner of TMO Partners . where he advises Fortune 500 companies on management of their strategic technology, financial, risk, and shared services initiatives. He is a chief IT risk and financial executive with extensive experience in leading financial and risk management solutions for global organizations. His career includes 25 years in Citigroup s financial control function, where he held a leadership role in identifying, developing and implementing global, cross-business expense reduction efforts and was recognized as a key contributor to capturing $3 billion in savings at Citigroup.

    Lawrence Maisel is president of DecisionVu Group Inc. . a management consultancy specializing in corporate performance management, financial management and IT value management. He has successfully demonstrated abilities to provide leadership in strategy and financial management, and information technology with numerous experiences in financial services, insurance, communications and media, and pharmaceuticals industries. He has developed business strategies, managed and improved business performance, implemented business systems, and designed solutions to increase operating performance and shareholder value. Recently, he co-authored (with Gary Cokins)Predictive Business Analytics Forward-looking Capabilities to Improve Business Performance(2014, John Wiley Sons), and authored IFAC s International Good Practices Guidance on Predictive Business Analytics.

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    FASB Home #financial #accounting #class #online


    A standard that simplifies and improves how a not-for-profit organization presents information in its financial statements.
    Feature Pane – NFP Financial Reporting More Link

    The Conceptual Framework

    The Conceptual Framework is a body of interrelated objectives and fundamentals that provides the FASB with a foundation for setting standards and concepts to use as tools for resolving accounting and reporting questions.
    Feature Pane – The Conceptual Framework More Link

    Credit Losses

    A standard that improves financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations.
    Feature Pane – Credit Losses More Link

    FASB Outlook

    The FASB Outlook is a quarterly e-newsletter designed to keep stakeholders informed about key FASB projects and activities. Click here to subscribe .
    Feature Pane – FASB Outlook More Link

    Implementing Revenue Recognition

    A standard that improves comparability and reduces complexity in how revenue is recognized. The Joint Transition Resource Group for Revenue Recognition (TRG) looks at potential implementation issues.
    Feature Pane – Revenue Recognition More Link

    Taxonomy (XBRL)

    This page provides access to the GAAP Financial Reporting Taxonomy and supporting materials. Information about current Taxonomy projects, ASU Taxonomy changes, and implementation guidance is also available.
    Feature Pane – Taxonomy – XBRL More Link

    Financial Instruments: Hedging Recognition and Measurement

    Improving reporting of financial instruments in recognition measurement and hedging.
    Feature Pane – AFI More Link

    The New Leases Standard

    Issued on February 25, 2016, the Accounting Standards Update (ASU) improves financial reporting about leasing transactions and affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. Feature Pane – Leasing More Link

    Disclosure Framework

    A project to improve the effectiveness of disclosures in notes to financial statements by clearly communicating the information that is most important to users of those financial statements. Feature Pane – Disclosure Framework More Link

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    Vantiv Wins Best Processor at 2017 CNP Awards, eCommerce Analytics and Reporting Solution Cited


    Vantiv Wins Best Processor at 2017 CNP Awards, eCommerce Analytics and Reporting Solution Cited

    CINCINNATI. June 2, 2017 /PRNewswire/ — Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and technology for merchants and financial institutions of all sizes, announced today that it has won the 2017 Card-Not-Present (CNP) Award in the Best Processor category as both a Judges Choice Award and Customer Choice Award recipient for the second year in a row—the first time a company has swept both those designations in a single category in successive years in the history of these awards. The Best Processor Award honors the company that most effectively responds to the special needs and requirements of merchants that operate online businesses.

    “Winning the Best Processor Award—for the second year in a row, no less, and this time with our Vantiv iQ for eCommerce analytics and reporting solution—clearly demonstrates that our customers see the impact our value-added online payments products make in their businesses,” said Greg Worch. Head of Enterprise Sales at Vantiv. “This is a tremendous honor that pays tribute to the deep expertise and hard work that our dedicated team of payments professionals brings to our customers every day.”

    Vantiv iQ for eCommerce provides unparalleled value to users by offering visibility into payments data, allowing users to measure the overall performance of their transactions. The unique iQ for eCommerce experience gives users extensive insights and analytics into their business not available anywhere else. Three distinct views—financial, operations, and chargeback management—help streamline costs, improve operational efficiency, and enhance revenue. On-demand reporting supports extensive drill-down, pivot, and expansion capabilities that help merchants analyze all facets of their payment transactions.

    “As eCommerce and mobile payments continue to grow, retailers have a growing array of companies—new and old—bringing new technologies to bear to meet the challenges of accepting card-not-present transactions,” said D.J. Murphy. editor-in-chief and co-founder of CardNotPresent.com and the CNP Expo. “That range of potential partners is reflected in this year’s CNP Awards. The CNP Awards have become the standard by which companies, programs, and services around the world are being recognized for excellence.”

    Vantiv is one of just two companies at this year’s CNP Awards that were recognized by judges and customers as tops in the same category. The CNP Awards named two winners—Judges Choice and Customer Choice—in each of 12 categories. All Judges Choice winners were selected by a panel of independent experts chosen for their deep experience and professional reputations in payments and the card-not-present industry. The Customer Choice Awards were given in each category based on inputs from customers through an online voting process.

    Vantiv continues to find new ways to provide valued services to clients, like with its latest acquisition, Paymetric, adding B2B payments solutions to its catalog of services. To learn more about Vantiv’s extensive portfolio of eCommerce payments solutions, visit vantiv.com/online-payments .

    Vantiv, Inc. (NYSE: VNTV ) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure, and more successful. Vantiv is the largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company’s growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at www.vantiv.com. or follow us on Twitter. Facebook. LinkedIn. Google+ and YouTube .

    © 2017 Vantiv, LLC. All rights reserved. All trademarks, service marks, and trade names referenced herein are the property of their respective owners. Vantiv and other Vantiv products and services mentioned herein as well as their respective logos are registered trademarks or trademarks of Vantiv, LLC in the U.S. and other countries.

    SOURCE Vantiv, Inc.

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    Vantiv Wins Best Processor at 2017 CNP Awards, eCommerce Analytics and Reporting Solution Cited

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    ERP 101 The ERP Go To Guide #erp #information, #enterprise #resource #planning #software, #hosted


    ERP 101 | The ERP Go To Guide

    The ERP 101 Go To Guide provides the basis and baseline for Enterprise Resource Planning (ERP) research, reviews and recommendations.

    Table of Contents

    • ERP Defined
    • ERP History
    • ERP Benefits
    • ERP Pitfalls
    • ERP Total Cost of Ownership (TCO)
    • ERP Implementation Approaches
    • Top ERP Implementation Failure Factors
    • The Future of ERP

    ERP Defined

    Enterprise Resource Planning (ERP) software applications act as the central company-wide information system. ERP systems integrate all of an organization’s departments, divisions, lines of business and geographical locations into a single, shared, unified and enterprise-wide information system.

    In order to bind this organizational definition with the plethora of new and expanding commercial ERP software applications, in the early 1990’s some of the more notable analyst firms proposed a more quantifiable software definition that continues to be frequently referenced. This definition advocates that for a business software application to be a true ERP software application, the software must include the five integrated business software suites of:

    • Financial or accounting software | General ledger, Cash Management, Accounts Payable, Account Receivable and Fixed Assets
    • Distribution or supply chain management software | Procurement, sales order, e-commerce, inventory management, product configurator, supply chain planning, supplier management and claims processing.
    • Manufacturing software | Bill of materials, work orders, engineering, capacity planning, capacity scheduling, quality control, requirements planning, manufacturing flow
    • Human resources and payroll software | HR management, payroll, employee self service, time and attendance, commissions calculations, benefits administration
    • Customer relationship management (CRM) software | sales force automation (SFA), marketing, customer support, call center

    To many of the industry pundits, only when a business application includes the above five core suites in an integrated fashion and leveraging a single data repository (relational database) is the true ERP software definition achieved and the best opportunity to realize the benefits of ERP software possible. Continue ERP 101

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    10 things anyone dealing with a debt collector should know – ABC News #debt



    Yahoo!-ABC News Network | 2017 ABC News Internet Ventures. All rights reserved.

    10 things anyone dealing with a debt collector should know

    If you are having trouble with debt collectors, here are some tips to help.

    Getting a debt collection call is never fun. Even in a best-case scenario — it’s your debt and you can pay — that outstanding account can cause a headache or two. And if the debt’s contentious, not yours or just too darn high, the situation can become (or at least feel) a lot more dire. But knowledge is a superpower when it comes to dealing with a debt collector in any shape or form.

    Here are 10 things anyone who’s gotten a debt collection call should know.

    1. You Have Rights Yes, a debt collector has every right to collect on a debt you legitimately owe, but there are rules and restrictions — formally known as the Fair Debt Collection Practices Act (FDCPA) — that govern how they can go about their business.

    2. Old Debts Expire Each state also has laws specifying how long collectors have to sue you over a debt. In most states, these time limits last for four to six years after the last payment made on the account. You can consult this chart to determine your state’s statutes of limitations (SOL) — and if you get a call about a very old debt, you should really consult this chart, because.

    3. Zombie Debts Are Real. Collection accounts get resold all the time, and it’s not uncommon for someone to get a call about a debt that’s outside the SOL or no longer owed. The latter is illegal, but the former may not be: The SOL applies to how long a collector has to sue you over a debt, but, in many cases, they can still try to get you to pay.

    4. And You Can Wind Up Reanimating Them If the old account is legit, you can unwittingly restart the clock on the SOL by paying part of the debt or even agreeing over the phone that it’s yours. If you get a call about a debt, be sure to get all the details before saying you owe. That due diligence is doubly important because.

    5. There Are a Lot of Scammers Out There That’s not to say you’re talking to one, but you’ll want to stay on guard. “Ask the caller for their name, company, street address, telephone number and if your state licenses debt collectors, a professional license number,” according to the Consumer Financial Protection Bureau (CFPB), which has more tips for spotting a debt-collection scam on its website.

    6. You’re Entitled to Written Verification In fact, FDCPA requires a collector to send a statement outlining the specifics of the debt within five days of contacting you. That notice — which is basically step one in determining whether a debt’s legit — must include the amount of money you owe, the name of the original creditor and what actions to take if you believe the information is wrong.

    7. You Can Dispute the Debt Debt collectors must investigate a debt so long as you file a dispute in writing within 30 days of their initial contact — and they’re to cease contact until they verify (again in writing) that you owe the amount in question.

    8. Collectors Can’t Just Inflate What You Owe Regarding that amount: A debt collector can charge interest, but only up to the amount stipulated in your contract with the original creditor. Most states also cap the amount of interest and fees a debt collector can charge.

    9. You Can Ask Them to Stop Calling Per FDCPA, a collector must cease contact if you send a letter requesting they do so. That letter won’t absolve you of a legitimate debt, but it can curb incessant and heated phones calls, which is important because.

    10. Too Many Calls Are Illegal Another facet of FDCPA: Collectors can’t call you too early in the morning (before 8 a.m.), too late at night (after 9 p.m.), too many times a day or at work once you tell them not to. They’re also not allowed to use abusive language — no cuss words or name-calling.

    Want to know more ways to effectively handle debt collectors? You can see the full list of 50 things anyone dealing with a debt collector should know on Credit.com.

    Jeanine Skowronski is the executive editor of Credit.com.

    Any opinions expressed in this column are solely those of the author.

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    Online finance courses, e-Learning tutorials and CPD for Accountants, Banking, Finance and Business #cpd,



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    Online management, finance and business courses to suit you’re learning needs, budget and schedule. As well as the merit of their content, courses can count as structured verified, CPE / CPD for accountants.



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