How your accountant can help you fund your business

A successful entrepreneur will accelerate the growth and success of the business by tapping into team of experts, a "mastermind alliance". One key the key members of this mastermind alliance will be the firm's accountant.

An accountant who is wired into the operations of the business can perform other beyond producing balance sheets and income statements periodically. The accountant has unique insight into areas that can help the company grow.

The accountant will have insight into benchmark costs which will be crucial information for constructing a credible and bankable business plan. The accountant will also be able assist the business owner in projecting believable organic growth projections. Many business plans are rejected summarily by potential lenders and investors because of a lack of believability in the growth or cost projections.

The accountant may also be able to provide an introduction to a potential equity investor in the business by virtue of the potential investor also being a client of the accountant. Such an introduction can be very valuable as some the accountants professional reputation will imputed to the business seeking funding.

It is a highly advisable for a business that is looking to get funding in the near future or is currently seeking funding to look upon the firm's account not as a cost but an asset.

SOURCE:
http://wwww.helium.com/items/534835-how-your-accountant-can-help-you-fund-your-business

Starting an Ebay Business --- An Online Business Model that Works

Millions of people are still coming online each year, and many of those people come to the Internet with dreams of making their financial dreams come true.

The truth is that building a website to sell products and services is not the easiest way to make a living online. A lot of specific knowledge or money will be required to be successful with a standard website.

You must acquire skills --- or pay someone who already possesses those skills --- in the following areas:

Graphic design
Copywriting
HTML design
Perl or PHP programming
Database programming
Marketing research
Promotions


When this is understood, most people throw their hands up in frustration and walk away from their entrepreneurial desires.


Maybe cash is the problem; maybe the desire is just lacking.

If you have reached this point yourself let me offer one piece of advice...


DON'T THROW AWAY YOUR DREAMS JUST YET

More people than I can count are making a successful living online, and none of them own their own website or send a single commercial email to anyone.

How is this possible?

Two words, "Ebay auctions."


EBAY MAKES IT EASY

Ebay covers all of the difficult technical issues. And more importantly, Ebay already has floods of visitors eager to purchase your wares.

Ebay has provided everything you need to operate a successful business online with three exceptions:

1. Products to sell
2. Time to list the products in the Ebay database

3. Cash to acquire the products


CHOOSING THE KINDS OF PRODUCTS

Before choosing your products, you should ask yourself what you enjoy the most. You may enjoy cats, NASCAR or even antiques. You should select products consistent with what you enjoy for two reasons.

First, you bring to your presentation a real appreciation for the products your are offering.

Secondly, a job you hate is one you will quit. A job you enjoy doing will be one that you will want to keep forever. If you are starting your own business, the hope is that you will be doing it for a very long time.

I personally know people who have generated a nice living on Ebay selling cat-related items, NASCAR memorabilia and antiques.


SOURCE:
http://www.articlealley.com/article_1188208_15.html

Business Startup - 3 Critical Business Financing Mistakes To Avoid Read more: http://www.articlesnatch.com/Article/Business-Startup---3-Critical-Busi

f you were to start committing any of the following 3 business financing mistakes too often, you would greatly reduce your chances of long-term business success. And to be a success in business you have to think long-term. Track record and reputation in business is earned over time. A good business track-record is largely judged on financial success and financial success in business is assessed largely through the examination of business accounts. Good business accounts demonstrate to banks, financiers, colleagues etc., that you are a bankable business person and will lead them to put their faith and money into you and your business ventures.

By not committing any of the following 3 business finance mistakes you will, at the very least, have good financial indicators and be able to respond to the businesses financial position in time. The key here is to understand both the causes and significance of each.

Business Financing Mistake # 1 - No Monthly Bookkeeping.

Regardless of the size of your business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and business decision making. In a word, your business is doomed if you are not doing monthly bookkeeping.

Bookkeeping services are dirt cheap compared to most other costs a business will incur. Bookkeeping should be done on a monthly basis along with Management Accounts so that your financial records are always up to date and you can view the financial status of the business (Profit and Loss, Balance Sheet etc.,)

Once a bookkeeping process gets established, the cost and time involved usually goes down. By itself, this one mistake tends to lead to all the others in one way or another and should be avoided at all costs.

Business Financing Mistakes # 2 - No Projected Cash Flow & Budget

Having no meaningful bookkeeping creates a lack of knowledge on where you are. And having no projected cash flow and budget creates a lack of knowledge about where you're going.

Without keeping score, a business tends to stray further and further away from its targets and, invites a crisis that eventually forces the business to change it monthly spending and cash-management habits.

A projected cash flow first and foremost needs to be realistic. You should project both a best-case and worst-case scenario based on projected sales and business expenditures. Its a good idea to aim for the best-case scenario but know how the business would respond should the worst-case scenario transpire.

Business Financing Mistakes # 3 Inadequate Credit Control

Theres nothing worse than making sales, doing the work, sending your customer an invoice and then not getting paid on timeor worse still not getting paid at all! Its a well-established fact that the longer a debt isnt collected the less chance it will be collected. Typical credit terms in most established business are 30 days. However, due to a culture amongst some customers of paying late and small business not operating strict credit control, a business can often not get paid on time and fast run out of cash. So how do you avoid this? Well, there are numerous steps you can take but the following 3 steps will help ensure you always get paidand paid on time.
1.Appoint someone in the business to be in charge of credit control. Its vital that someone is responsible for sending out invoices and statements; reminding the customer that payment is due, handling queries on invoices etc.
2.Reinforce your payment terms and conditions on your contracts, on your website, on your invoices etc. Its important that customers are aware of your payment terms and the consequences of late payment (cessation of service, interest charges etc.,)
3.Send your invoices on time and include a statement of the account with each invoice. If you dont send your invoice out at the end of each month how can you expect to get paid before the end of the following month.

In a world of tightening credit from banks, strict business finance practices are required even more. You cant expect your bank to extend your overdraft or facilitate a term loan if you are guilty of any of the 3 above financing mistakes.

Theres so much more to business finance and money management than I have covered in this article that I could write a whole book on it! But for the moment if you are starting out or taking over the running of a business and are experiencing working capital or cash-flow difficulties than I would first start investigating these 3 key areas and see that they are being managed diligently. If you do this, than many of your cash-flow difficulties will begin to disappear and your business finances will improve quickly (assuming your business proposition is sound in the first place and sales are strong).


SOURCE:
http://www.articlesnatch.com/Article/Business-Startup---3-Critical-Business-Financing-Mistakes-To-Avoid/1098635

Merchant Account Services— Ultimate offer for business owners

Now-a-days, it is crucial for all small or big businessmen to adopt best ways to run their business successfully. In this way, they should open a merchant account for availing instant mode of money transfer or payment as well. This is an incredible option to grow the business and make the strong relationship with clients by paying amount with immediate effect.

This can be easily done through credit cards, which are meant as vital tools to pay the amount anytime and anywhere.
It is must to carry credit cards for every businessman to get instant mode of payment at any point of time. For this purpose, every businessman needs to open a merchant account that lets the consumer to avail the profit of credit cards with immediate effect.

Under the merchant account services, a businessman may grab several benefits like easy mode of payment, get rid of carry heavy cash in pocket, liberty to pay the amount through online credit cards and lots more. So, by having a merchant account, a businessman is free to do shopping and get the easy mode of payment through credit card. But the amount will be detected through the merchant’s account.

Generally, the credit card processing is too fast and gives flexibility to the consumer to purchase desired items without worrying about payment. This is because the payment through credit cards is convenient, so no need to carry heavy cash in pocket. But the must condition is to open a merchant account that must be filled with enough money that can be utilized through consumer’s credit cards as per requirement.

There are several merchant account providers available in the market. Such merchant account providers usually offer a range of reports that help the consumers to keep accurate records of consumer’s credit card transactions and other account fees. They have also offered services for small businessmen and open small business merchant accounts for them as well.

Now every small businessman can utilized the credit cards as per convenience and also maintain the record of every transaction of money from account. Every merchant must have to give legal details for opening a merchant account and keep eye on every transaction of money to maintain the record of account.
Apart from that the consumers may also avail the profit of electronic credit card processing under this merchant account services as well.

This is another advantage of merchant’s account that permits the merchant to experience electronic mode of money payment by using electronic credit cards. This is also a safe mode of money payment that can be utilized through credit cards anytime and anywhere. In nutshell, merchant account is a good deal for every small or big businessman that allows him to experience easy mode of payment through credits cards

SOURCE:
http://www.articlerich.com/Article/Merchant-Account-Services--Ultimate-offer-for-business-owners/867519

Inexpensive Merchant Accounts, the need for today's business

Enhanced purchasing power of the people even in the developing countries like India has resulted in people spending more on merchandise and various lifestyle products. Further with the growing dependability on the credit cards, it has become all the more important for any business to have a Merchant Accounts. More than 80% transactions accounts for Non-cash forms of payments and thus businesses that are not accepting credit cards are losing 4 out of every 5 sale conducted.

If you are opening a new business then it is strongly recommended to have a Merchant Accounts that can help your business to grow as credit card transactions can cost your business less in transaction charges. The reason for this is that cash and cheques require more handling by financial institution staff whereas credit cards tend to be processed electronically and thus easier to process.

The cost of a merchant account varies extremely, based on the perceived risk associated with the business and the nature and area of business they are involved in. The providers customize their pricing as per the services avail by the clients. Anybody would prefer Inexpensive Merchant Accounts to start with so as to find out the effectiveness of the same on his business. With high number of Merchant Account Services to decide from, selecting one is not an easy task. There will be lot of question in the mind while you are selecting a particular Merchant Account Services. If the service provider is successful in providing you with the easy to grasp and understand information about their service, then it is expected that their company are easy to work with. Majorly all the established companies have a demo account to help their customers to understand the process they would require to follow. In such demo accounts, one can log in and see it for himself the entire technical set-up. When you look at a system, it's important to consider simplicity as well as functionality as you will be required to deal with the system on the daily basis. Also keep in mind; if you decide for a very simple system for eases sake; you may leave out on some important functionality and if you have comparatively complex registration needs, you will require Merchant Account Services that have more robust setup and thus a bit complicated to use. However
Deciding factor will definitely be the needs and the nature of business you are in.

Furthermore, If you are involved in online trading and thus have an online merchant accounts, the security of the personal information becomes all the more pivotal. The personal information of the merchant can be misused and due to this anti-fraud software are installed by the Merchant Account Services. So this also becomes a deciding factor while opening Inexpensive Merchant Accounts.

SOURCE:
http://www.articleclick.com/Article/Inexpensive-Merchant-Accounts-the-need-for-today-s-business/997977

Business savings account – Keep your business funds in the safe hands

Uncertain times are knocking on the door of our economy. A need for security has never been greater. When it comes to your business funds you definitely need to feel secure that they are in the safe hands.
A business savings account is an option for you if you want to make the most out of your company’s spare funds. Keeping your company running at full speed and still having a savings account is hitting two flies with one hit. As you continue earning it is nice to continue saving what you can since it will pay off eventually.

What should I look for in an savings account for my business?
A good business savings account needs to offer you flexibility, security and high returns. Finding the right bank is a must so start searching and comparing straight away. Your goal is to find the suitable bank where your business funds will be safe while at the same time you will be offered the most competitive rates.
Having a business savings account is basically making the best use of your business’ spare funds and making sure you don’t have any cash problems at a later stage of your business. It is a possibility of using the most and gaining the most out of your business. Don’t let it pass you by.


SOURCE:
http://www.a1articles.com/article_1022157_19.html

Opening Bank Accounts

Choosing a Bank Account

There are a dizzying number of banks out there, and they are not all the same. Taking time to choose the right bank account can be difficult, but it is worth the trouble. Here are some things to consider:

Convenience. It’s important that the bank be accessible, particularly for people who move or travel a lot. Features like online banking and direct deposit can help. Some people even prefer to have a fully online bank, while others want to know there is a bank branch they can actually walk into if they have any questions or concerns. Neither option is better than the other—it is an individual choice.

Minimum balance. “Free” checking accounts are very popular these days. Unfortunately, sometimes “free” really means something like “free is you keep at least $500 in your bank account every second of the month.” Before opening an account, people need to determine whether there is a minimum balance requirement, and what the fee is for going under the limit.

Service charges. All banks charge for certain things, like bouncing checks, even ones with “totally free checking”. But some banks charge for a lot of little things, like writing too many checks in one month or seeing a human teller. Checking accounts (as opposed to saving accounts) can be particularly costly. People should ask to see a schedule of fees before opening up any bank account.

ATMs. These little machines can be convenient, but they can also be expensive. Many banks charge for using another bank’s ATM, and the other bank charges as well. Each visit to an ATM can easily cost $3-5, which adds up over the course of a year. People who plan to use ATMs a lot should make sure their bank has free ATMs nearby or that the bank reimburses ATM expenses every month.

Credit Unions. Credit unions are non-profit cousins of banks. While credit unions sometimes offer fewer services than bank, they usually charge fewer fees and give out more interest. Not everyone can join a credit union; to open an account, people must be eligible for membership. Many large colleges, employers, and even cities have credit unions. People can also often join a parent’s or spouse’s credit union.

Opening a Bank Account

Once someone has selected a bank, opening up an account is easy. Bank accounts can usually be opened in person or online, though an online account might require that a signature be mailed to it. The requirements can change a bit from bank to bank, but basically people must:

* Fill out and sign paperwork
* Show government-issued identification (like a driver’s license)
* Show proof of residency
* Make an initial deposit (can be cash or check)

SOURCE:
http://personalbudgeting.suite101.com/article.cfm/opening_a_bank_account

Importance of Accounting Records and Companys Accounts For Business Read more: http://www.articlesbase.com/finance-articles/importance-of-accounting-

The main importance of accounting records lies in the fact that it holds true for all uneven situations and keeping a proper note of financial transactions can prove useful for you in times of problematic conditions. So whether business is big or small accounting records prepared in the proper manner will never loose value and is always recommended so that the business can potentially grow and outgrow others and stand as a reputable organisation.

Importance of Accounting- A Helping Hand in Outsourcing Business

In this growing age of money oriented society one generally opts for becoming an entrepreneur rather than slogging for hours as an employee in a company owned by others and there arises the need and importance of accounting records. If you are someone who wants to break into a new business, the importance of accounting should never be ignored. Accounting and finance are two very useful terms in business whether you are working on the day to day accounts activities or the longer term strategies that face you when setting up and running a company. Accounting software is always an option as it can mean low setup fees along with helping you begin your business with good bookkeeping and accounting principles from the outset.

Accounts for business and accounts formats help in managing a company well. A company's accounts records held on an accounts ledger give the detailed description about its profits and losses in a cash spread sheet format. Auditors study the financial statement and thus determine the accuracy and integrity of your business and an accounting statement distinguishes the success ratio of your present business from past progress using accounts formats that are recognised by other companies and bodies.

The importance of accounting can be discovered from the fact that accounting principles such as double entry bookkeeping are compulsorily to be followed by all companies to avoid any future mishaps and this is clear when you look back at larger company crisis, small businesses can suffer more than larger companies through accounting ledger errors as they are less likely to have the assets available for sale should finances go wrong. Accounting asset of a company is calculated so that banks can easily provide loans and fund any projects you wish to take on in future. The strategy to be followed to establish a new business varies with accountant planning. With this in mind, if you wish to have a well established business then you need to take accounts for business very seriously from the start.

Knowledge of accounting software can help expand your business and help in building a bright future in accounting and finance. Accounting asset can include your employees, monthly input, services offered by them, products being produced. Accounting statements can track the entire positive and negative aspects of your company's growth therefore having knowledge of accounts formats can help you in reach new heights and in turn business success.

Referral to accounts for business is a great way of keeping a note of the entire accounting asset, liabilities, profits and loss occurring in any organisation in a form of account ledger. It records all the transactions taking place in a company so that you can always have a check on the losses if required and according to generally accepted accounting principles, the basic framework of accounting should always include finance and accounting records. This is because accounting is relative to finance and goes hand in hand with it. Finance talks about the happenings of a company the profits and losses that it is facing. So importance of accounting plays a vital role in determining your goals and objectives.

SOURCE:
http://www.articlesbase.com/finance-articles/importance-of-accounting-records-and-companys-accounts-for-business-858973.html

Why Use Out Accounting Or Accountancy For Business?

A lot of people who do not understand business will tend to ignore accounting of the business. So why use accounting or accountancy for business?

I have a close friend (with an accounting background) who is married to a man who sells computer components and DIY desktops. She was working in an events management company at first, but because their marriage was on the rocks, she decided to resign from her job to help out with her husband's business.

At first, the computer business was getting less than 20,000 dollars profit per month, but since her entry into the business, the profit began to grow monthly. It eventually exceeded 300,000 dollars profit within her first year of taking over the business. When I asked her how she did it, she answered that all she did was to make sure the accounts was recorded daily. She also ensured that costs were kept under tight control.

Most important of all was that the husband / wife relationship grew as well.

My friend's story taught me a lesson. In running the day-to-day operations of a business, it is necessary to keep track and document all your income and expenses. If marketing and sales activities are always the top priority in any business, then accounting and bookkeeping statements will come as the second most important element.

I have been reading books about entrepreneurs outsourcing accountants and bookkeepers for their business transactions, and this decision has given them a great amount of extra time to focus on the marketing and sales aspects of the business.

Do not even try to Do-It-Yourself by getting accounting software especially so if you do not understand accounting. Even if you do understand accounting, you will not be able to focus on growing you business.

By engaging an outsourced accounting or bookkeeping firm, you will be able to cut down a lot of your costs. At the same time, a third party outsourced firm will be able to verify your business transactions for the whole work year, thus further decreasing the cost in auditing services.

Always have the attitude of outsourcing and not the DIY mentality. While we must try to be an all-rounder in our business, we must also acknowledge the fact that we are not always able to do everything. Instead, delegate tasks that are not directly generating in income to the business.

This is the new generation of doing business - knowing where exactly costs can be easily reduced.

In summary, if you do not take the time to properly analyse your accounts, you will be unable to assess how your business is doing.

With proper bookkeeping to ensure that every transaction is properly filed, you can be assured that generating a quarterly profit/ loss statement and monthly cash-flow statement will be easy and most important of all, accurate and up-to-date.


SOURCE:
http://ezinearticles.com/?Why-Use-Out-Accounting-Or-Accountancy-For-Business?&id=1799163

Internet Merchant Account Tips: Make Your Business More Convenient and Profitable

Are you running – or planning on starting – an online business? Then you’ll need to accept credit cards. Consumer research indicates more than 90 percent of all online shoppers use their credit cards when they make a purchase from an online retailer. With figures like that, it’s easy to see why accepting credit cards for your online store or business is not just an optional luxury – it’s a business necessity.

Opening a merchant account is simple, and today’s accounts are much less costly than they were even just a few years ago. With literally hundreds of merchant account providers vying for your business today, deciding which one to choose for your business needs can seem difficult. But it doesn’t have to be. Equipped with knowledge and understanding of what services are available, the search process can be much more tractable.

Here are a few things to consider when looking for a merchant account provider for your own online business:

Real-time vs. Delayed Processing: Which Is Right for Your Business?

One of the primary decisions you’ll have to make when you open a merchant account for online credit card purchases is whether you want to use a real-time processing system or a delayed processing system. There are advantages – and disadvantages – to both.

In a real-time processing system (probably most familiar to customers today), credit card transactions are processed “instantly” after an order is submitted. Customers enter their credit card and other billing information into your web store’s online shopping cart system, and that information is transmitted to the card issuer via a special connection called a gateway.

The gateway is a separate layer of security for your transactions, helping to limit your business’ exposure to fraud and also helping to facilitate the transaction and card validation. In some cases, you merchant account provider will offer its own gateway system, but some merchant account providers will ask you to find a system on your own.

In those cases, it’s essential you ensure the software being used by the gateway provider is compatible with that being used by the merchant account provider. Software incompatibility can cause serious delays in processing your credit card sales, resulting in a loss of sales and possibly customers.

Once the card is validated and the transaction is approved, a virtual receipt is issued and the transaction is complete. The funds from the credit card are earmarked for withdrawal at the end of business, at which time the proceeds from all your credit card transactions will be transferred to your bank account. To all appearances, this type of transaction occurs almost instantly, within just a few moments’ time.

Some of the perks of real-time processing include: ease of use, nearly instant transaction completion and the ability to handle high daily sales volumes

The disadvantages include a higher cost than delayed processing system and the potential inconvenience of selecting your own gateway provider and dealing with software compatibility issues.

In a delayed processing system, the customer still enters his or her credit card and other billing information through your web store’s online shopping cart. But instead of transferring that information instantly to the credit card issuer for approval and validation, the delayed processing system holds the information, storing it until later in the day when you or your business staff will need to access the information and enter it into your own computer or virtual terminal for processing. Only then will a virtual receipt be issued, which can be emailed to your customers.

Delayed processing advantages include lower cost than real-time system, and the ability for the business owner to oversee each transaction personally

However this system requires a business representative to process each transaction manually, and is generally useful only for businesses expecting small daily sales volumes that can be easily processed by hand.

Choosing an Account Provider

Whether choosing a merchant account provider for an online business or a retail establishment, most of the considerations are the same. When comparing providers, look for a merchant account provider with:

* Experience in working with Internet businesses. The needs and processing steps used for online businesses are different than those for other types of accounts. Make sure your account provider has the experience to help you run your online venture successfully.


* Great technical support. If your system breaks down or experiences an error in processing credit card transactions, you want the peace of mind of knowing the technical staff is on hand and easily accessible, to handle and correct both minor and major problems that can result in a loss of sales or customers.


* Excellent customer service. As with tech support, you want to work with customer representatives who are courteous and prompt in dealing with your own questions and concerns. Check with the Better Business Bureau for any outstanding complaints.


All businesses can benefit from accepting credit cards, but having a merchant account is essential if you’re operating your business – in whole or in part – online. Take some time today to learn about the account providers that can help your online business grow.

SOURCE:
http://www.articlerich.com/Article/Internet-Merchant-Account-Tips--Make-Your-Business-More-Convenient-and-Profitable/829253

Checking Accounts for Bad Credit

Having a checking account gives a consumer a safe place to store his money in addition to providing the individual with convenient features such as online banking. Banks want to protect themselves from the financial losses they incur when consumers accrue high overage charges on their bank accounts and fail to repay their debts. Thus, most banks require individuals to submit to a credit check prior to allowing them to open up a new account. For those with bad credit, this can be a deal breaker.

See: Bank Overdraft Fees and Credit Reporting

Second Chance Checking Programs for Bad Credit

Second chance checking programs are specifically designed to help those with bad credit or those who have a debt in Chexsystems. These checking accounts are often basic and lack all of the bells and whistles that standard checking accounts have, but they do offer individuals with poor credit the opportunity to open a new checking account without worrying that their bad credit rating will result in a denial of their application. Some second chance checking programs don’t require a credit check.

See: No Credit Check Banking

Demonstrating responsibility with a second chance checking account can be extremely beneficial to an individual. Some banks use second chance checking accounts to evaluate those with bad credit before offering them a standard checking account. Thus, a bad credit checking account at some banks is nothing more than a “trial run” to determine whether the consumer’s debt management skills merit a standard checking account.

Banks That Offer Bad Credit Checking Accounts

Although second chance checking accounts may be hard to come by, some banks don’t actively advertise their available programs. The FDIC estimates that 37% of all banks offer special financial outreach programs to individuals who are not eligible for a standard checking account.

The following banks all offer checking accounts to individuals with bad credit.

* Bank of America
* Household Bank
* BBVA Compass Bank
* Transportation Alliance Bank
* Bank of Texas
* Woodforest National Bank

Potential Drawbacks of Bad Credit Checking Accounts

Bad credit checking accounts often carry higher fees than standard checking accounts due to the higher risk individuals with poor credit present to banks. In addition, some second chance checking accounts are only available online. Because of this, the deposits that consumers make must often be mailed to the bank’s headquarters and then deposited--resulting in as significant delay in the availability of funds.

Still other bad credit checking accounts place limitations on how the account may be used. For example, some banks don’t allow individuals enrolled in second chance checking programs to write checks from their accounts. If the bank doesn’t have numerous branches, restricting an individual to only using his debit card may result in the individual accruing multiple fees using the ATM services of other banks.
Second Chance Banking is Only Temporary

Second chance banking programs may cost a consumer more in fees or place restrictions on his banking activities, but, for most consumers with poor credit, having a restricted checking account is far preferable to not having one at all.

See: Techniques to Build Good Credit Fast

Fortunately, credit scores change over time. Most credit report entries only remain on file for seven years before dropping off a credit report. Once a debt no longer appears on a consumer’s credit report, it has no effect on his credit score. As long as a consumer pays his debts on times and monitors his credit reports for errors, he can gradually build the good credit he needs to be approved for a standard free checking account.

SOURCE:
http://consumereducation.suite101.com/article.cfm/checking-accounts-for-bad-credit

Business Accounts Mean Business

Business accounts are as simple to manage as regular current accounts but come with a few extras - some good and some not so good. Here we take a look under the bonnet of business banking. Unsure about business finance? We explain what they are, why they charge and what they are good for business.

Why should I have a Business Account?

If you are self-employed and own your own enterprise you may want to consider opening a business bank account. Corporate banking is serious business and many of the high street banks now offer accounts tailored to suit your needs.

Many business accounts offer software packages designed to kick-start your start-up. Using corporate computer packages can help you structure your business in line with short and long term strategies. Then there is of course Internet and telephone-banking facilities. Banking over the phone or online allows you to pay bills and make transfers at a time which suits you. After all, standing in a bank queues is what we did in the 1990s.

Perhaps the biggest bonus to be gained from having a business account is your very own account manager. An account manager can be of enormous value to your business. A good account manager can offer years of experience in dealing with business finance and can suggest ways to get your business booming. Any account manager worth their salt will also double as a business consultant whenever you need an expert opinion. For more information on business accounts see the link below.

Are there any charges?

Business accounts incur many of the same charges as regular current accounts. You may already be familiar with charges for unpaid direct debits, bounced cheques or exceeding an overdraft limit. This type of account will likely penalise you for any of these plus a few more for good measure, such as paying in cheques for example or making money transfers.

How will I be charged?

How you will be charged will depend on where you have a business account. You may pay for charges on a one-by-one basis or alternatively over a monthly or quarterly term. Some banks will only enforce a charge when a specified amount of transactions has been exceeded.

How can I avoid charges?

The best way to avoid unnecessary charges is to understand the rules. You should agree with your bank at the outset how, why and when you will be charged. Based on that knowledge you can implement banking practices that will avoid most or at least the worst kind of charges.

Some tips:

1) Consider Internet banking as a way to avoid charges on transactions and money transfers.

2) Use direct debits and standing orders wherever possible - automated transactions incur very few labour costs.

3) Avoid using cheques.

How do I open a business account?

Once you have compared business accounts and have found the right one for your business, you are ready to open an account. To open a business account you will need:

* Certificate of Incorporation (Limited Companies)
* ID
* List of people authorised to co-sign cheques

If you are a start-up business you may be asked to bring a business plan. Opening a business account should not be difficult.

How can I borrow for my business?

If your business needs a little buoyancy it may be time for a cash injection. Your account manager should be able to advise you which credit option best suits your requirements. When you need to find extra cash for your company, you could consider one of the following:

An overdraft - a business overdraft allows you to repay money borrowed at a time that suits you and can give you financial flexibility when you need it most.

Overdrafts, however, can be recalled at any time so it is never advisable to completely drain it of funds.

Business loans - you may consider a loan if you already have an overdraft or you need to borrow more than an overdraft would allow. Loans are agreed over a repayment term so the bank cannot recall the amount at a moment's notice. A business loan will in all likelihood be secured against your home of business premises.

Government grants - are especially suited to start-ups or businesses without security. See the link below for details of how to apply for a Small Firms Loan Guarantee Scheme.

SOURCE:
http://ezinearticles.com/?Business-Accounts-Mean-Business&id=1625417

Capital and Revenue in Accounts for Business ? Taking Care of Your Profit Account

Capital and revenue always go hand in hand with your business and they are two broad categories which are highly essential for success of your business in any accounting period and help your small business to earn and improve profits. When you utilise the accounting asset of your business to earn money and gain revenue it can be termed as expenditure. Good practise in accounts for business would be to use an accounts ledger book which gives a general overview about all the happenings of your business in addition to making ease of regular processes such as wages and items held on a profit account.

Accounting standards state that an accounting period is used to calculate expenditures occurring in the field like that of prepaid ones. Capital expenditures are not confined to just one accounting period and instead are spread over many, so capital, wages and profit account information should be held on your accounts ledger. Any accounting asset earned can be important in the operation of the business and serves the main purpose of accounts for business. The sum of all the national insurance charges, installation and setup costs and customs duty comes under capital and revenue.

Capital is generally based on the process of adding a new accounting asset to your existing business and acquiring those for expansion and your earning capacity and profit account is also calculated on this basis and is usually recorded over years of accounting periods. So if you want to determine whether an asset falls under the revenue or capital just thinking about its profit and the period it was of benefit to your business may help. Revenue also varies with your companys size, so starting to familiarise yourself with this type of accounts for business now in small company will assist you in future business expansion and when this occurs you will already be confident with how and why the accounts ledger and profit account are recorded.

Revenue expenditures are based on the fact that they are calculated under profit account and loss systems. Revenue is debited on an accounts ledger, when you have put your accounts for business into a loss and profit account a good piece of accounting software may calculate depreciation for you. These expenditures are restricted to just one accounting period and will also calculate present earning and turnover of your small company.

Revenue unlike capital starts from the time you purchase your raw materials until conversion into finished goods, so the cost of producing a finished product or complete service, advertising it, delivering it to your customer with tax and wages, property rental etc all form a very important aspect of accounts for business, in addition to capital you gain as you progress the company. A good example of this would be buying machinery to manufacture a product, the revenue is generated in each accounting period after the cost of the machinery is deducted, so buying something to use for five years would see you divide the initial outlay into five, anything listed on the profit account over and above this figure counts as revenue and makes the machinery profitable, making it an accounting asset to your company and is therefore capital to you and your business, and of course your customers.

SOURCE:
http://www.articlesbase.com/finance-articles/capital-and-revenue-in-accounts-for-business-taking-care-of-your-profit-account-937105.html

Fight a Frozen Checking Account

A bank levy occurs when a creditor freezes a consumer’s checking account and subsequently removes the amount it is owed. According to the U.S. Department of the Treasury, unless the creditor in question is a government creditor, such as the IRS, a judgment and court order are required before an individual’s checking account can be frozen and a bank levy executed. Certain forms of income, however, are exempt from being seized.
Funds that are Exempt from a Bank Levy

* Government benefits - Benefits that individuals receive from the U.S. government as a means of support, such as Social Security, Social Security disability, government retirement benefits, unemployment payments and welfare are all exempt from being garnished by private creditors.
* Child support - Child support is received with the understanding that the funds will be directed to the care of a minor child. As such, child support is exempt from garnishment.
* Life insurance benefits - If an individual has received life insurance benefits due to being the beneficiary of a deceased loved one, those funds cannot be intercepted or garnished.

How to Declare Funds that are Exempt from Garnishment

Should a creditor win a lawsuit against a consumer, that consumer should immediately inform his bank which funds within his account are considered exempt by the U.S. government. In many cases, it is beneficial for the consumer to move any exempt funds to another checking account, as the checking account containing the exempt income may be frozen prior to non-exempt income being seized

Most banks have a form available for consumers to fill out stating their exempt assets and the amount of income they have coming into the account each month that should be neither frozen nor seized by a judgment creditor. If an individual knows that he may be the subject of a frozen checking account and garnishment order, it is in his best financial interests to request this form from the bank and fill it out promptly so that the bank knows how much of the individual’s income must be legally withheld from the judgment creditor during a bank levy.
What to Do if Exempt Income is Seized from a Bank Account

Debtors who suffer a seizure of their exempt accounts via a bank levy should immediately contact the court that awarded the judgment and file a claim for wrongful garnishment to have the funds returned to the checking account from which they were garnished (See Government Garnishment Laws).

In most cases, however, individuals are informed ahead of time that they will be subject to bank levy either by a certified letter or by the simple fact that their checking account has been frozen at the request of a judgment creditor. It is at this point that all consumers who fear a bank levy should inform their banks of their exempt assets. Any proof that a consumer can provide detailing the amount of exempt assets he is entitled to each month will help prevent those funds from falling into the hands of a judgment creditor.

Individuals should keep in mind as well that not all states permit judgment creditors to garnish checking accounts in order to recover an old debt. The attorney general’s office of each state can inform residents of specific state laws concerning bank levies.

SOURCE:
http://personal-debt-management.suite101.com/article.cfm/fight-a-frozen-checking-account

Employing Merchant Credit Card Machines To Increase Business

Utilizing merchant credit card machines is something that many merchants do in today's world of credit card purchasing. But learning about them isn't as simple as it used to be. With many new manufacturers and many new models being produced, it takes some time to sift through them to find the right one to meet your business needs. You'll find that they come with different functions and features. You have to choose between what you want and what you need.

We all know that the basic job that these credit card machines perform is in processing credit cards, and debit cards, and also electronic checks. A good example of a credit card machine is a credit card terminal. When you take a look at these terminals, you'll find that they have evolved somewhat with technology, but that a lot of the old models are still around.

These old models were initially designed for operation through a phone line connection. But today, we have some that are wireless, and some that operate through DSL connections or high speed Internet connections. These all will vary in the price department. There are merchants who opt for leasing their credit card machines, and there are those who decide to just purchase their machines outright. This will depend on which one works out best for your situation.

There are IP compatible terminals out there that will enlist the aid of a high speed Internet connection. What they do, is hook up an 'Ethernet cord' directly to your terminal that will give you one of the fastest transaction times going. They actually can cut the time in half when compared to a phone line connection. They are extremely effective in both speed and convenience.

There are a lot of merchants who want to be able to provide the service to people who only have debit cards and ATM cards. In order to accommodate these customers, they have to add a 'PIN' pad to their machines. This will enable the customer to input their pin number just like at the ATM in order to complete a transaction and pay money from their account.

Online merchants can find what they call 'virtual' terminals. These terminals function exactly like the standard terminals you see at the mall, but they're online. It gives them the ability to process all the major cards and take electronic checks just like a real store. They are a necessary piece of equipment for any online merchants.

You can also find the WiFi machines for processing credit cards too. Most will utilize a Linux-based operating system that gives you interchangeable modems and a modular format. When it comes to speed, these are top of the line. They also offer mobility and a universal connectivity. All you need is to be within close range of an existing Internet connection that has a wireless router with it.

Utilizing merchant credit card machines has become a necessary part of eCommerce as well as regular store business. This is the credit card age, and if you can't process them, then you're not doing business. Our society is nearly a cash-less society, with hundreds of thousands of people taking advantage of the convenience of carrying credit or debit cards. These machines have therefore become an invaluable asset to the business merchant.

SOURCE:
http://www.articlesnatch.com/Article/Employing-Merchant-Credit-Card-Machines-To-Increase-Business/1099060

How Account Payable Services affects the profits of Business?

One of the most controlling department of cutting cost is invoice processing in account payable. The trend of outsourcing account payable has many advantages for any business
in terms of reducing the labor cost and working quickly. A result came out from a survey that account payable is the most broadly outsourced finance and accounting function.

Today, BPO
industry is the fastest growing industry in the market than the other industries such as KPO and ITO industries. It gives the outsourcing company an opportunity to prove themselves and show the expertise in the particular field.

If we see the overall market condition, we find that the largest countries like Europe, Africa and other countries are pioneers in the field of outsourcing account payables. At the other end, USA is forecasted as the largest finance and accounting BPO market.


The benefits of outsourcing Account Payable are as under:


* You can reduce the annual accounts payable ledger costs up to 25% to 50% with out any investment

* Greater centralized control over payable across the enterprise

* You can take time-to-time updates of the statement and according to it take the necessary decisions for the business

* By outsourcing your account payable requirements, you can get the superior quality work

* The experts are doing the work systematically and ultimately it will affect your business with regards to profit factor

* You can remove the headache of real-time tracking and reporting. As you are outsourcing your needs to other company or an individual, you don’t need to making and maintaining the various accounting reports

* You can also avoid the task of recruiting, hiring and managing the clerical staff

If a company wants the better account payable services for your business, you should have to take initiatives to outsource your requirements to the company, which are providing such services at affordable rates, by using latest technologies and have professionals for such services.

As states earlier, account payable process have a major impact on the profits of business. Any business invests a major portion of its business amount on the invoices. If the accounts payable system is not effective, the business has to bear the penalties of late payment charges, missed discounts and duplicate payments.

SOURCE:
http://www.articlealley.com/article_1005285_15.html

Why you need a business banking account

Starting with a business is a good step, but to start it well is also more profitable. Even if, the business is small and earnings are insignificant, that is no excuse not to have a business banking account separate from your personal banking account. It is the like mixing up your personal affairs with the affairs of your profession or business. You of course do not broadcast your personal affairs, so the same approach can be applied to the banking accounts.

Money is something not to be played or toyed with, so banking accounts are something to be done with utmost care. It is imperative, wise, better and healthier too in the long run to have a business banking account as soon as you open a business as you save a lot of unnecessary tensions, worries which shall in turn spoil your health and goodwill too.

Businesses are organized into different departments to keep track of the functioning and the on-goings of each, as it makes it easier to have control and keep a check on what is going on. Like-wise, having different banking accounts makes sense as the taxes, deductions and other financial aspects are different for both business and personal.

Moreover, when you started your company, you have been wise to start it out small along with your regular earnings, so do apply the same approach in the banking accounts. Keep the business banking account separate from the personal one and the benefits are multi-fold and shall accrue in the coming years as the business grows.

Benefits are the ease of accounting, book-keeping and auditing of business banking account as all business transactions are in one place. Moreover, the separate bank accounts reflect your professionalism and increase your credibility, integrity in the eyes of the clients.

It is also easy to separate the business and personal expenses, earnings and the Government and Income Tax personnel do not require any explanations for the type of the transactions. Separate banking accounts make it easy to claim deductions from the personal and business transactions separately without any hassles and proof.

Therefore, having separate banking accounts for personal and business is not a headache but a boon instead. Although, the business banking account has a fee but it is small compared to the peace of mind, time, energy and efforts saved. As, instead of spending these valuable resources figuring out the personal and business transactions and convincing the Government or the Tax officials on the same; the same resources can be used to improve and progress your business and see it grow.

SOURCE:
http://wwww.helium.com/items/754459-why-you-need-a-business-banking-account

The Benefits of Using an Online Business Account

Once cash or cheques were considered the ultimate way of dealing with money when running a business. Today there is a better way and those who are not making use of it are really doing their business a disservice.

Once upon a time, businesses depended on sending and receiving a hand-written document for their invoicing needs and for paying their bills. Their money was kept in a leather bag - probably under the floorboards. The next step up was using banks, cheques and printed invoices and the postal service. Nowadays, the businessman who does not have an online business account is doing his business a disservice.


An online business account has many benefits; not least is the speed with which you can send an invoice. The quicker you can get your invoices sent out and the money in your account, the better cash flow your business will have. Having an online business account will ensure that the invoices go out quickly and - hopefully - are paid just as quickly, thus your accounts will be kept up-to-date.

With an online business account you have the financial records all there at your fingertips. You can see at a glance what your business owes or is owed. You can send your invoices quickly, but you can also receive payment much more quickly than by cheques that must come via snail-mail. This is particularly important if it has to come from overseas, or if your business is conducted in a place that is relatively isolated, with an irregular mail service.

Another benefit of an online business account is that you can access it at any time of the day or night. There is no waiting for the doors of the bank to open before you can find out the state of your finances. So if you haven't made use of an online business account yet, maybe it is time to upgrade your business and start making use of technology.

SOURCE:
http://www.a1articles.com/article_1257137_19.html

Now You Can Keep Your Restaurant Business Running Smoothly and Efficiently

If you have a restaurant business, you should consider opening a merchant account. Merchant accounts are set up for businesses to accept and process credit card transactions. It is important to note that most people prefer to pay for their meals with credit cards or debit cards, so a merchant account will help you take your restaurant business to a new level. A merchant account is convenient for customers and it will increase your profits. You can obtain a merchant account through a credit card company, bank, or another payment processor.

The First Step

In order to accept credit cards, you must subscribe to a business credit card network or processing firm. After you subscribe to a business credit card network, you will receive a merchant identification number, a business credit card processing account, and the equipment that you need to swipe credit cards.

Retail merchant accounts are ideal for restaurants, small hotels, and grocery stores. This type of account is best for merchants who do not plan to conduct business online or through the mail. Retail merchant accounts offer the lowest transaction fee.

What Happens When a Customer Pays For an Order?

When a customer pays for an order, the cashier will use the cash register to enter the sales information and get the total cost of the order. The cashier will swipe the customer's credit card. The total amount, card number, and merchant identification number will be sent to the business credit card processing firm. The service will then submit the information to the credit card company. The credit card company will check the available balance on the card and approve or deny the transaction. If it is approved, an authorization number is sent to the merchant electronically. The process is finished when the customer signs the receipt.


How to Claim the Money You Receive

In order to claim the money you receive, you must submit a summary of the transactions that were made to the credit card processing firm. The credit card processing firm will deposit your credit in your merchant account for the total amount in sales, minus the processing fees. You will receive a credit in 2 to 3 business days.

Accepting Debit Cards with a Credit Card Terminal

A customer's debit card can also be processed with a credit card terminal. A debit card is processed like a credit card, but the money gets deducted from the customer's checking account.

How Credit Card Processing Will Boost Your Business

If you do not accept credit card payments, you will lose a significant amount of business because some people only carry debit or credit cards with them. In order to accept a debit card as payment for an order, you need a credit card terminal. Don't lose business to another restaurant that accepts many different forms of payment. If you use a credit card processing service, your customer base will grow quickly and you will increase your sales.

Also, keep in mind, debit cards and credit cards give your customers a chance to purchase whatever they want, and they will spend more money. If you accept many different forms of payment, you won't lose any customers, so a merchant account will give you peace of mind. A merchant account will also keep your business running smoothly and efficiently, and it will keep your customers happy.


What You Need Before You Apply For a Merchant Account

If you get your information and paperwork together before you apply for a merchant account, you will breeze through the process quickly. In order to apply for a merchant account, you will probably need a checking account. Some providers will require that you open a new checking account, but some will let you use the checking account you have now. If you use your checking account to accept the funds you receive from customers, you will also need a copy of a voided check.

You will also have to prove that you have a legitimate business, so you will need an article of incorporation, reseller license, or business license. You will have to provide your return policy details too. Even if your return policy is “no refunds,” you must give that information to your merchant account provider.

You may need a copy of your recent tax returns, but that will depend on the provider you work with and the sales volume you expect to make each month through your merchant account. If you do not have a business license, you may need a copy of your driver's license.


SOURCE:
http://www.a1articles.com/article_1639730_15.html

Do You Need a Merchant Account for Your Business?

There are so many decisions to be made when opening a business. How many products will be sold? What kind of advertising media will be utilized? Where will the business be located? What types of employees will be needed? And perhaps most importantly, what forms of payment will be accepted?

If the business will be accepting credit cards from customers, then some sort of merchant account will be required to authenticate and process those transactions. This may sound like another daunting task on your list, but rest assured that setting up a merchant account will greatly benefit almost every type of business that exists today.

There was once a time where the majority of people paid by cash or check for their goods and services. A few decades ago, credit cards were usually reserved for major purchases only, while day-to-day transactions were paid for with personal checks or hard currency. But times have changed drastically in the 21st century — and so have buyers’ spending habits.

A large number of consumers do not carry much (or any) cash on their person because they feel they may be singled out for theft or burglary. Similarly, many businesses are shying away from cash transactions for fear of becoming targets of robbery. As for checks, the emergence of fraud and forgery has led companies and retailers to refuse this type of payment in order to avoid the aggravation of bounced, stolen, or counterfeit checks. Because credit cards are standardized and widely distributed, business can feel secure in their transactions without worrying about being targets of crime.

There are specific merchant accounts that are best suited for various types of businesses. Most retailers utilize one or more retail swipe terminals to process credit card transactions. These devices are set up at cashier stations for use by clerks, salespeople, or customers. Businesses that provide services at remote locations often prefer a mobile account. This type of arrangement allows credit card payments to be accepted using a portable swipe terminal, a laptop system, or even a cell phone. Other merchant service provider options include point of sale software or touch tone technology, which utilize computers and phone lines respectively to handle credit card transactions. Though most types of businesses can use these two alternatives, they are especially attractive for companies that accept orders and payments via telephone, fax, mail, or email. Internet businesses accept credit cards almost exclusively.

Some business owners avoid enlisting the services of a merchant provider in an attempt to keep costs down. What they do not realize is that the decision to not accept credit card payments likely chases off customers. For the sake of convenience, many consumers will patronize a competitor that accepts credit cards. While overhead costs may be a bit lower, revenue will be significantly worse in the long run. Also, business proprietors can determine which merchant account is the most cost-efficient for them simply by doing a little research. Shopping around for processing equipment or software can help businesses obtain a system that has only the features they want at the lowest possible price.

It also pays to compare the discount rates and fee structures of several different merchant providers to see which one is the most affordable for the volume of credit card transactions the business expects to process. And thrifty business owners can minimize their merchant account costs by keeping a watchful eye on their credit card traffic. This attention to detail will enable business owners to stay away from penalty surcharges, avoid increased discount rates, and limit the possibility of chargebacks — which in turn will keep costs lower.

Other company owners overemphasize simplicity in their business approach, which may cause them to avoid credit card processing. They may not realize that most of today’s merchant accounts are straightforward and user-friendly. Retail swipe terminals guide the clerk and/or customer through each step of the process, while computer software comes with intuitive procedures and simple formatting to expedite both credit card data entry and recordkeeping. In all cases, funds are automatically transferred into the company’s account, thus eliminating the need for an employee to make a trip to the bank. Finally, credit card processing systems usually have strong support networks to assist their clients. These “help centers” allow businesses to ask questions and receive assistance via email, telephone, or online instant messaging — often 24 hours a day, seven days a week.

There is really no good reason why any business should avoid setting up a merchant account to process credit card payments. Though the application and setup process may take a few weeks, the processing system itself usually operates with minimal oversight from the business owner. But the sharp increase in revenue that results from the increased convenience for customers will surely be noticed every time the business owner checks the company bank account.

SOURCE:
http://www.articleclick.com/Article/Do-You-Need-a-Merchant-Account-for-Your-Business-/1275080

Merchant Accounts - Which Option Fits Your Company?

If you are the owner of a company that has yet to set up a merchant services account for credit card processing, odds are your company is either very new or very old.

For new companies just getting started, there are so many other things to worry about while getting set up that credit card processing can seem too confusing and intimidating to jump right into. On the other hand, there are plenty of older businesses that have been thriving for years which may have an "if it ain't broke, don't fix it" attitude.

But the plain fact is that the ability to process credit card transactions is only going to become more necessary as the years go on. And while business may be booming without using merchant services today, it may not be that way in the years and months to come.

Luckily, there are merchant service accounts for companies of all types and sizes, and with just a little bit of research you will quickly realize that credit card processing is not nearly as complicated as you may suspect. For starters, let's take a look at the different types of merchant accounts and figure out which one is the right fit for your company.

Retail Swipe Terminal

Does your company deal with the customer face-to-face? Do you have a real "bricks and mortar" business and handle most of your transactions in real-time? Then you are a perfect candidate for a retail swipe terminal.

These are the machines you see at any grocery stores or retail outlets where you simply swipe your credit or debit card. One of the advantages of this type of processing is that it has the lowest merchant account processing fees. This is because you can actually see the customer and swipe their card.
Since you can do things like ask to see identification to compare the name on the card with, merchant services companies believe that there is a much lower risk of fraud. This is why they charge the low processing fees. It is less of a risk to them.

Retail swipe terminals are becoming more and more popular and necessary to businesses today. People expect to be able to pay on their card when they go shopping, and many of them aren't going to be willing to go walk around and find an ATM when they realize they can't pay with their card. Even if they do go out of their way to get cash the first time, in the future they may choose to do their repeat shopping with a company that will accept their card.

Real-Time Processing

Does your company do a lot of business over the Internet? Do you have or wish to set up an online store where your customers can easily search for products and order them with a few clicks of a button? Then you should consider real-time processing.

Everything is done completely automatically with this type of processing. Your customers simply enter all of the applicable information and the money will be processed by your merchant account and deposited in your business checking account within a few short days.

Real-time processing is completely secure and in most cases there is no need to buy a secure certificate. This way of processing credit cards over the Internet is almost a necessity when it comes to setting up an online store. It is a great way to expand your business across your region, around the country, and maybe even throughout the world.

Virtual Terminal

Do you sell on the Internet, but expect to receive some of your orders over the phone, through the mail, or by fax? Then you are going to want to set up a virtual terminal in addition to your real-time processing.

The virtual terminal is, in fact, very simple. It is just a secure website where you can login and type in your customer's credit card information. After that it is processed through the merchant account and the funds are transferred to your account within a few days.

One of the nice aspects of the virtual terminal is that it can be accessed from any computer that is hooked up to the Internet. This allows the virtual terminal to act as a mobile processing solution as well. A lot of real-time processing plans already include virtual terminals for free, or at a very small price.

Wireless Merchant Solutions

Are you a merchant who is literally "on the go"? Do you own a vending cart or do you your sales while on the road? There are two types of mobile solutions that can help to grow your business.

The first is a touch-tone solution. This is a great option for smaller merchants who can't afford a high start-up cost. You simply take your customers credit card information and process it manually over a touch-tone phone.

If, however, you can afford the startup cost then the best way to go is to actually buy a wireless swipe terminal. This pays off in the long run because many of the free terminals have high termination fees. After you have purchased the wireless swipe terminal it works just like any normal retail swipe terminal.

The time to take advantage of the world of merchant services is now. More and more businesses every day are discovering credit card processing solutions that are allowing their businesses to grow beyond their wildest dreams. Don't get left behind. Get on board today.

Scott Strubel is a freelance writer who writes about a range of topics including business reviews such as North American Bancard reviews.

Facebook Marketing That Will Monetize Your Business Bank Account

Wow! Facebook Marketing. So you say you hate Facebook...It's just a place for kids. NOT!! Did you know that Facebook has several hundred million active users? Are you aware that it is rapidly growing by over a half million users every single day? Anyone and everyone from every walk of life are using Facebook today. No matter what you are promoting or selling, whether it is an opportunity, a product, or a service, many of those potential clients are on Facebook. If you are not there it is highly probable that your competitors are...

So think about it.... If there are 350,000,000 (million) people on Facebook and only 1% of them have an interest in what you are working with that is still 3 1/2 million people with whom you might have something in common. If only 1% of those 3 1/2 mil. people are interested in your page that is still 35,000 people or potential followers. If you can convert just 1% into sales or new distributors that is 3500 new sales/distributors. What would that mean to your business? That is a huge FREE marketing arena that anyone would be foolish to ignore. After all, massive companies and small companies alike are starting to also recognize the power and advantages of marketing on Facebook. Companies like Coke, Microsoft, Sylvan Learning Centers and many others are using it as a revenue stream for their business. If you are smart you will get your piece of that pie.

So what are the secrets to monetizing Facebook? There are many tips, strategies and methods that will build your relationships and eventually your income. But where do you start?

It definitely pays to start networking with people who have like interests. But whatever you do-do not step in and start throwing up your opportunity all over them. You need to get out of "pitch mode" and Stop MLM Recruiting! In the words of the famous Mike Dillard "No one wants to be sold, so stop selling them." You must focus on attraction marketing when using Facebook as a method of marketing. Give helpful tips and comments. Participate in conversations and make posts that add value and that others will find interesting.

Make sure that you join groups that relate to your objectives. If it is your goal to help people learn marketing skills then participate and join in groups who are like minded. If you market a travel product join groups with similar interests. If you are focused on a product like MonaVie or Starscapes then join in groups dealing with health and wellness or room decor. Give a few good tips in some group conversations and people will begin to add to your friend lists. Eventually people will begin to ask what exactly you do and then you can gently lead them into what you are actually focused on without barfing your stuff all over them.

You can even start your own groups. People will see the group and join. As long as your comments are truthful and honest and don't come across as spammy then you will again start to attract like minded people. Do not be afraid to share trade secrets. When you do share though make sure you lead them on and somehow gather a name and email for your information. For instance, give them some good ideas and lead them well down the road to exactly what they are looking for and then get them to opt in for complete information.

This leads to another good way to build your list and start getting some juice from Facebook. Be sure to have an opt in box on your Facebook page. That process goes beyond the scope of this article but you can easily Google "how to put an opt in box on Facebook" and I am sure you will find exact instructions. A simpler way, if adding opt in boxes is way beyond your expertise is to put a link that leads directly to a capture page that further sells them and gives them more reasons to opt in.

Lastly, make sure that opt in box or capture page is tied to an autoresponder. An autoresponder "automatically" "responds" and sends emails on autopilot to whoever opted into that box. That follow up can and should include ongoing information Of Value to the prospect. It of course should also contain the rest of the information that they opted in for in the first place.

If you look at the numbers...the numbers of people on Facebook... you can easily see that Facebook is a viable form of advertising. Other great things about Facebook are the fact that you can build relationships with people and even a friendship. It is common knowledge that friends who recommend a product or service are listened to 5 x as much as that salesman who is there to pitch a product. Find those people you have a common interest with, befriend them, join their groups, and participate in their conversations. Give them a way to opt in to hear more from you and use autoresponders to follow up with programmed messages as well as broadcasts.