Money – Home Business Magazine https://homebusinessmag.com Home Business - Home-Based Business - Business Opportunities - Franchises - Business Start-up - Work From Home Mon, 26 Jun 2017 18:06:03 +0000 en-GB hourly 1 https://wordpress.org/?v=4.8 A Simple Guide to Accounting for Freelancers: 5 Helpful Tips https://homebusinessmag.com/money/accounting-and-bookkeeping/simple-guide-accounting-freelancers-5-helpful-tips/ https://homebusinessmag.com/money/accounting-and-bookkeeping/simple-guide-accounting-freelancers-5-helpful-tips/#respond Mon, 26 Jun 2017 14:33:52 +0000 https://homebusinessmag.com/?p=34470 The following accounting tips — from hiring a sole trader accountant to small business tax returns — will help you along the road to success.

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The modern business world is a very exciting place, with more opportunities than ever before. But setting out on your own won’t be easy, so the following accounting tips — from hiring a sole trader accountant to small business tax returns — will help you along the road to success.

An abundance of creative-minded individuals leave university every year, with the ability and skill-sets to take their industry by storm. Unfortunately, there aren’t enough company jobs out there for everyone to do the job they love or have trained for. This leads to a significant number of freelancers setting out on their own and making a serious impact on today’s business world.

While this is an exciting prospect, it requires a lot of work. You’ll need to adopt more skills and knowledge to make you productive as a business owner, many of which are financial in nature. Keep these five financial tips in mind as you build the foundations of your freelance career, and you’ll be in a strong position for success.

1. Separate Your Bank Accounts

As a freelancer, you are now technically a sole trader and should act accordingly. One of the first things you should have done (or should do, right now) is open a separate bank account for business purposes. Doing so is an organisational necessity for day-to-day accounting — and an absolute godsend if you have an imminent small business tax return.



Speaking of taxes, being a freelancer requires you to pay out for the running costs of your business (laptop, computer software, WiFi, office fees, etc.). These can be claimed as business expenses, which will add up to a taxable profit to be deducted from your tax bill.  

2. Stay Organised

The majority of your time as a newbie freelancer will be spent emailing potential clients and marketing your services, with little to no financial activity right away. With that said, when things do begin to pick up — and it will, if you have faith and work hard — you’ll have consistent ingoings and outgoings that need to be monitored and organised efficiently.

Invoicing will become a vital part of your new career. Making sure you keep track of your invoices, keeping an eye on upcoming payments and following up with clients for payment will all be essential to organise your finances. A sole trader accountant and accounting software are brilliant tools for organisation, both of which are spoken about in more depth below.

3. Prepare for Small Business Tax Returns

As the employee of a company, the annual tax return is relatively simple thanks to the P60 form you’re given. As a freelancer or small business owner, though, the time leading up to the tax return deadline and the process itself will be very stressful without the right preparation. This is where the previous tip of “stay organised” will be essential. Muddled accounts will cause you no end of bother when the time comes to file your tax return.

Preparing for a small business tax return is important for lots of reasons, but one of the most important is that if you don’t, it will cost you money. Fines for incorrectly filled-in tax forms or late fees for missing the deadline date will affect your ability to do business if you’re working on a tight budget.

4. Invest in Accounting Services

In the early days of a freelance career, you’ll be working on a tight budget, meaning you’ll be wary of expenses that aren’t deemed to be essential. While the phrase “you have to spend money to make money” is thrown around way too much, some expenses will prove to be worth their weight in gold. Hiring a sole trader accountant, for example.

Accounting for freelancers is daunting if you have minimal knowledge of finances. A sole trader accountant will have years of experience working small businesses, encountering many of the same issues you’ll face as a freelancer. This means that they’ll be your best bet for day-to-day organisation of accounts — and the ultimate ally when the time comes to tackle small business tax returns.

  1. Use Accounting Software

Organising accounts, creating and sending invoices, and preparing your bank transactions for small business tax returns can all be handled with accounting software. Not only does this make everyday finances a lot simpler, but it also eliminates many of the ways you could make errors (especially if maths isn’t your strong suit); errors that could cost you money.

That being said, accounting software doesn’t make the benefits of an actual account obsolete. An ideal way to get the best of both worlds is to use the two in tandem. So in this instance, accounting software would be used to organise all of the vital financial information and transactions, which you could then send to your sole trader accountant to work their magic.

Accounting for freelancers is one of the most vital aspects of your business. Organisation and efficiency will be crucial and the tips above will put you on the right track to make sure you achieve it. From the basics of separating your accounts and staying organised, to attaining the services of a sole trader accountant, all of the above are worth taking on board.

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Unconventional Ways of Making Money Trading from Home https://homebusinessmag.com/money/unconventional-ways-making-money-trading-home/ https://homebusinessmag.com/money/unconventional-ways-making-money-trading-home/#respond Mon, 26 Jun 2017 14:08:53 +0000 https://homebusinessmag.com/?p=34467 Selling products online is not a sustainable way of earning a living for many people. Fortunately, market-savvy individuals have learned a trick or two about trading financial assets.

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For many folks, the concept of trading from home is associated with selling products on an online auction platform such as eBay. This is certainly a viable proposition, given the large and growing presence of conventional ‘trading’ on eBay, Alibaba and others sites. However, if you don’t have an assembly line, or a limitless supply of products to sell, eBay is not a sustainable way of earning a living for many people. Fortunately, market-savvy individuals have learned a trick or two about trading financial assets. There are multiple categories of trading assets available today, including currencies, commodities, indices and stocks.

Conventional wisdom states that you would go to a broker, buy a futures contract, stock or currency and wait for it to appreciate/depreciate accordingly. Unfortunately, there are many flaws in this thinking. For starters, trading is not about investing. They are entirely different words, verbs and actions. Trading is defined as, ‘Frequent buying and selling of underlying assets to generate superior returns than holding the investment.’ Investing by contrast is buying and holding financial assets over a prolonged period of time with reinvestment, compounding and dividend growth.’ Time is one fundamental difference between trading and investing, but it’s much deeper than that.

Direction of Price Movement

A trader is not interested in holding assets for the sake of holding assets. A trader is interested in generating returns without any encumbrances. Traders spot opportunities and act quickly to generate profits. Investors are not interested in the cyclical movements of stocks, commodities, indices or currency pairs. They hold for the long term seeking appreciation. ‘As a trader, your turnover of cash is going to be incredibly high. That’s why it’s important to choose trades with short-term expiry times in the form of call or put options,’ says 24Option trading expert Michael Divinuto Sr.

When you trade, it doesn’t matter whether the asset appreciates or depreciates – what matters is that you call it correctly. Traders often short stocks, or go long on stocks. With derivative trading options like CFDs, the only thing that matters is that you get the direction of price movement correct. The actual profits that are generated are dependent on the size of the price movement and the volume of the asset that is traded. Fortunately, the Internet of things has made it possible to access a smorgasbord of trading options from the comforts of home. Conventional brokers are often eschewed by the modern-day trader. For starters, not only do they levy high fees, commissions and charges on opening accounts, trading and maintaining accounts, there are also broker fees to contend with.

Understanding Interaction Between Macroeconomic Variables

To obviate such blatant charges, home-based traders are switching to regulated brokers with contrarian investment options. These include the option to place call or put options on underlying assets without taking ownership of those assets. As a day trader, scalper or casual trader, derivatives trading serves a useful function in your financial portfolio. Investments are important, but contrarian revenue streams can also be used to boost a financial portfolio.

With options trading, it is possible to profit off your understanding of the financial markets. When interest rates rise, certain things happen in the economy. The cost of credit increases, but it also benefits those with savings in the bank. Likewise, when the oil price rises, this has an inflationary effect which benefits financial markets to a degree. It’s important to understand the broader interrelationships between these macroeconomic variables because it can help you as a home-based online trader.



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Barclays Are the Latest to Jump on the Robo-Advisor Bandwagon https://homebusinessmag.com/money/personal-finance/barclays-latest-jump-robo-advisor-bandwagon/ https://homebusinessmag.com/money/personal-finance/barclays-latest-jump-robo-advisor-bandwagon/#respond Fri, 16 Jun 2017 15:57:02 +0000 https://homebusinessmag.com/?p=34069 Top High Street bank, Barclays, is the latest to jump of the "robo" bandwagon. But is investing your savings into an automated savings platform the best thing to do?

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Finding the right platform for your savings can be quite difficult – especially if you know little or nothing about finance. One option is the growing trend for something called “robo investing,” and top High Street bank, Barclays, is the latest to jump of the “robo” bandwagon. But is investing your savings into an automated savings platform the best thing to do?

Fully automated robo investment platforms

Many robo investment services are fully automated. There is no human intervention. This makes it very easy from the saver’s point of view, because their savings portfolio will be chosen for them automatically.

The way it works is that you have to complete a registration form that asks you various questions about your financial circumstances and your attitude towards risk. Your portfolio will be decided automatically by the robo process algorithms, based on the information you’ve provided. The advantages of these fully automated systems are that they don’t attract hefty management fees because there is no human intervention, and the amount you have to invest is minimal.

One size doesn’t suit all

Some people are very happy with this type of arrangement, purely and simply because they don’t have to get involved. Beyond filling out the initial application form, there is simply nothing else to do. You will not be contacted or consulted in any way; your savings fund will be fully, robo-managed. This doesn’t however, suit all people.

If leaving your savings to decisions made totally automatically by robo-investment service makes you nervous, you are not alone. Just last month, new research found that so-called robo-advice is less popular than getting financial advice from financial professionals, friends, or going online.

ING survey highlights doubts in 91% of people

The survey, which was carried out by ING took in almost 15,000 people across 15 countries. It found that 91% of people were not prepared to let a robo-advisor handle their savings. However, when asked if they would be happier if they were given the final say-so on decisions, 26% of people said that this would be an option. When quizzed further, only 3% though, would be willing to give a robo-advisor total control.

Robo investment platforms with a human touch

The new platform launched by Barclays does however, goes further than simply offering a fully automated robo service. They are one of the few banks who are joining wealth management specialists Moneyfarm, the first company to offer robo-advice that is augmented by expert human advice.

The Barclays robo-plus offering is called “Ready Made Investments.” It is designed to permit customers to assemble a savings portfolio through investing in one, single Barclays fund. Clients will be able to opt for growth and/or investment funds, according to their personal appetite for risk, and dependent on their goals. This new service is available to their Smart Investor clients. Charges for the new service will in addition to the existing Smart Investor fees.

The management fee of growth investment funds is set at 0.45%, while the management fee for the income investment option is between 1.45% and 1.48%.

Take expert advice about a range of savings vehicles

Of course robo investment platforms, either totally automated, or with human-friendly intervention, are not the only vehicles to be considered when it comes to saving money. Whether you are saving for a rainy day; for some sort of special event like a wedding, to get a deposit on a property, or to put money aside for your retirement; there are other options you need to check out – the wide range of ISAs for example.

The big attraction with ISAs is the fact that they are tax friendly. New directives issued by the government in March this year, mean that here in the UK, you can save up to £20,000 per annum, tax free, by investing in a number of ISA products. Any interest that accrues is also tax free.

Whichever route you decide to do down, deciding the right platform for you as an individual, can be quite complex. For that reason, you should get expert advice from an FCA approved wealth management specialist.



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How QuickBooks Can Help SMBs https://homebusinessmag.com/money/accounting-and-bookkeeping/quickbooks-can-help-smbs/ https://homebusinessmag.com/money/accounting-and-bookkeeping/quickbooks-can-help-smbs/#respond Wed, 14 Jun 2017 12:37:07 +0000 https://homebusinessmag.com/?p=33906 Not many may realize it but Quickbooks can contribute to the success of SMBs. How? Go over these points.

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QuickBooks, an accounting software developed and marketed by Intuit, is primarily intended for small and medium-sized businesses (SMBs). It’s a proprietary software that can be used as a typical locally-installed or cloud-based application and comes with functions for accepting payments, managing bills, and handling payroll. Not many may realize it but this accounting software package can contribute to the success of SMBs. How? Go over the points below:

1. QuickBooks helps create a going concern and expansion mindset.

A small business that invests in business software is one that is most likely investing in its future.  It is a company that is meant to continue operating and expand. It is one that is meant to be a going concern. After all, why would a company spend on software if it does not intend to commit to long-term goals? It’s arguably a better mentality to invest on ensuring efficient operations to drive success instead of holding back on spending for fear of failures to minimize the potential losses.

2. QuickBooks ensures efficiency.

As one of the leading accounting software at present, QuickBooks is without a doubt a tool for efficiency. It makes accounting way easier as compared to doing things manually or traditionally. With less paper to track, QuickBooks prevents the need for more storage space for physical documents while making access to business information faster and more convenient. It makes it easier to record and calculate the financial aspects of business operations. Similarly, it makes it easier to generate reports or presentations useful when analyzing or discussing various issues or decision points. Also, QuickBooks makes it possible to create invoices instantly. Even better, QuickBooks also supports integration with several other business software to make it easy to share and process business data. For those who are dealing with a lot of checks for their business, using QuickBooks can lead to a simpler and significantly faster process. As some users testify on QuickBooks’ web page, they save 5 hours or more a week in managing their accounts by using QuickBooks.

Moreover, the benefits of Quickbooks are not limited to just a few industries. It can be used in virtually every type of business as it can work with various specialized software for added efficiency. For instance, those in the heating, ventilation, and air-conditioning business can enjoy the advantages of this top accounting software through the ability to integrate with QuickBooks HVAC software to ensure fast and accurate accounting.

3. QuickBooks facilitates informed and dynamic business data analysis and decision making.

With all business information easily accessible through QuickBooks (and with automatic backups at that!), business owners or managers can more quickly make decisions especially when it comes to addressing urgent matters. Businesses today need to be highly dynamic and be capable of adapting to the constantly changing business environment. QuickBooks makes sure that SMB owners or managers can easily access the information they need to arrive at informed and well thought out decisions.

4. QuickBooks can provide warnings for financial troubles.

No, this is not to say that QuickBooks has a feature that flashes an alert or notification for potential financial problems. The point here is that QuickBooks is a great way to see the bigger picture of a company. It makes it easy to have an overview of the financial health of a business, promptly informing business owners or managers about possible problems. QuickBooks comes with the Company Snapshot function which quickly provides a summary of a company’s financial trends so potential problems can be anticipated before they evolve into a full-blown crisis.

5. QuickBooks reduces workload through automation.

Businesses that rely on the usual paper-based documentation of transactions and business records will greatly benefit from using QuickBooks. Similarly, those who are still using Excel to record transactions will find their workload becoming significantly easier with QuickBooks involved. QuickBooks can automate several aspects of the accounting and record keeping process in a business. Business data can be automatically sourced, copied, stored, and backed up with the use of this leading accounting software. Paper checks, bills, invoices, and other documents can be easily generated and maintained while automatically keeping all pertinent details in the company’s database for access anytime they are needed.

6. QuickBooks helps ensure compliance.

Government requirements for businesses can be major encumbrances. If you do things manually, you may miss a thing or two, which can affect your compliance and pose serious problems later on. By using QuickBooks, you get to record everything that needs to be recorded and be reminded of the important documents your business should maintain. With all your data and records properly kept and reflected in reports, it becomes easier to meeting regulatory requirements, especially when it comes to taxation.

It’s also worth noting that you may be billed lower by a CPA if you simply give the CPA your QuickBooks file instead of handing out stacks of receipts and other business documents. Additionally, if you are applying for a loan, the process should become easier as all details needed are already in your QuickBooks file.

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There certainly are many advantages in using QuickBooks. Essentially, for small and medium-sized businesses, the advantages of using QuickBooks can be summed up by the following words: efficiency, informed decision-making, automation. This accounting software makes it easier and faster to handle business record keeping and accounting.



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Why You Should Have an Account with FCA UK Regulated Forex Brokers https://homebusinessmag.com/money/account-fca-uk-regulated-forex-brokers/ https://homebusinessmag.com/money/account-fca-uk-regulated-forex-brokers/#respond Tue, 13 Jun 2017 16:55:22 +0000 https://homebusinessmag.com/?p=33849 In order to sustain your forex trading business, you need to protect your hard earned money. It is, therefore, imperative that you work with an FCA regulated forex broker in the UK so as to achieve your financial goals.

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In the U.K., the Financial Conduct Authority (FCA) is the independent body that is vested with the responsibility of overseeing and regulating the operations of financial services companies, including the forex brokers. The FCA, formerly known by the name the Financial Services Authority (FSA), was set up in 2013 on the basis of the UK Government’s finding that the FSA was not adequately equipped to deal with financial irregularities. The agency’s inadequacy became very evident during the 2007-2008 financial crisis.

The FCA is not dependent on Government funds to carry out its functions. However, the agency is answerable both to the Treasury and the Parliament. The FCA operates with the help of membership fees paid by financial companies that are registered with the agency and by raising funds through other channels. As a result, the FCA is forced to maintain a fair code of conduct as far as all the firms providing financial services to residents in the country.

FCA Regulation – How Does It Work?

The FCA has been vested with a great deal of power to ensure that all financial services companies operating in the UK follow certain operating standards. The FCA can revoke the licenses financial services companies, scrutinize promotional and marketing material, audit the accounts of companies, and make sure that the clients get a fair deal when availing the services of these financial companies. The agency is also given the power to suspend the activities of any firm for a period of up to one year if allegations of fraudulent activities are raised against the company. The agency also has the power to suspend licenses of companies indefinitely if they feel it is necessary. As a result, firms that operate under the regulatory purview of the FCA would often ensure the safety and security of their clients. They will never work against the interests of their clients.

FCA Regulated Forex Brokers Are Reliable

A forex broker in the UK is required to be licensed and regulated by the FCA as per the law. As such, the FCA regulated forex brokers are highly reliable because they are bound to follow or comply with the various laws that are outlined in the code of conduct section of the 2012 Financial Services Act. Further, the FCA has the freedom to amend the laws as and when they deem necessary so as to safeguard the interests of the traders and investors.

FCA Regulation – Benefits To Customers

As the regulating authority for overseeing the functioning of financial companies, including forex brokers, the FCA’s main focus is protecting traders against different types of frauds as well as financial crimes. Further, the FCA guarantees the market integrity by monitoring the activities of all of the registered financial service providers and ensuring the health of the U.K. financial system.

Additionally, the FCA promotes healthy competition within the market by enabling companies to attract customers in a fair and honest manner. Moreover, the agency enforces stringent rules and carefully monitors the activities of the members so that the companies do not take advantage of the loopholes in the system.

Final Thoughts

Now that you have some idea as to the FCA operates, let us understand the three reasons why you should have FCA, UK regulated forex brokers:

#1: An FCA regulated forex broker in the UK is obliged to provide customer-centric services

You can expect regulated brokers to treat you fairly and without any discrimination, ensure clear communication and cater to your needs rather than focusing on their profits.
You cannot expect unregulated brokers to behave in the same manner. Sometimes, even the most highly recommended but unregulated brokers do not serve their customers properly.

#2: The FCA provides a solution to globalization

Globalization has resulted in rogue brokers setting up operations in the U.K. The FCA works with overseas regulators to curtail the activities of such brokers.

#3: An FCA regulated forex broker in the UK is accountable

The regulated forex brokers in the U.K. are required to comply with certain standards set by the FCA to maintain their status. Although the agency cannot guarantee total protection, those brokers that do not comply with the regulatory requirements are held accountable for their actions.

In order to sustain your forex trading business, you need to protect your hard earned money. It is, therefore, imperative that you work with an FCA regulated forex broker in the UK so as to achieve your financial goals.



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Finance Tips All Small Business Owners Should Know About https://homebusinessmag.com/money/how-to-guides-money/finances-tips-small-business-owners-know-using-deluxe-checks/ https://homebusinessmag.com/money/how-to-guides-money/finances-tips-small-business-owners-know-using-deluxe-checks/#respond Fri, 09 Jun 2017 15:46:13 +0000 https://homebusinessmag.com/?p=33770 Within this comprehensive guide, you will discover financial tips that can help any small business owner.

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As a business owner, you’ll often find yourself feeling overwhelmed with the tasks you must juggle on a daily basis. Keeping your clients happy, increasing your revenue, and keeping up with your finances can be enormously difficult. Your primary goal should be to ensure that you’re able to generate enough revenue to keep your company afloat. Within this comprehensive guide, you will discover financial tips that can help any small business owner.

Never Procrastinate

Many business owners make the mistake of putting things off until it is too late. This will only make the problem worse in the long run. Over a period of time, debt can accumulate, due to interest and even late payments. Whether you’re trying to pay your monthly bills or keeping track of your annual taxes, you should always get things done as early as possible. Get things done as quickly as possible. This will give you plenty of time to fix problems that may occur along the way.

Avoid Excessive Spending

It is absolutely vital to know how to differentiate between necessities and luxuries. Do not fall into the trap of purchasing too many luxury items, as this could cause your business serious harm. It is absolutely vital to make sure your necessities are purchased and paid for first and foremost. Luxury items, such as televisions, can be put on the backburner. These items are not necessities for the mass majority of businesses. Make sure your lights remain on and save as much money as possible to keep your company afloat.

Always Ask For Discounts

Another thing to remember is that your company has more buying power than the average consumer. This is the case, because your company will purchase items in bulk and more frequently than normal customers. Therefore, your partners will be more eager to negotiate to keep your business. With this in mind, you should never be hesitant to ask for discounts. Contact your suppliers and ask them about discounts. If they care about your business, they’ll be happy to provide you with a lower fee. Be sure to check out www.thingsmenbuy.com/finance/ deluxe-com-checks/ to learn more about Deluxe and its benefits for small business owners.

Setting Financial Goals

The truth of the matter is that some businesses will lose money during their first few years. It can take time and money to establish a brand and a good foundation. Therefore, you need to be realistic with yourself. Do not believe that you can become a millionaire within a few years. This is highly unlikely. Instead, you should set realistic financial goals for yourself. Always make decisions that will help you make progress towards these goals.

Monitoring Cash Flow Habitually

Your company’s cash flow will prove to be enormously important. This is where your money is coming from and where you’re spending the most. Make sure you’re well aware of your incoming and outcoming cash flow. This will allow you to be more aware of problems, while giving you more of a chance to capitalize in areas where you could make ever more.



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How to Manage Your Business’s Budget https://homebusinessmag.com/money/money-management/manage-business-budget/ https://homebusinessmag.com/money/money-management/manage-business-budget/#respond Thu, 08 Jun 2017 17:13:41 +0000 https://homebusinessmag.com/?p=33740 If you are lacking in knowledge and understanding when it comes to budgeting then you will most certainly benefit from the following straightforward tips that will have you feeling like a business budgeting pro in no time!

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When starting your own company, it can sometimes be easy to underestimate just how difficult certain parts of the process can be. This is something that is continuously true when it comes to managing the budget of your business. If you are lacking in knowledge and understanding when it comes to budgeting then you will most certainly benefit from the following straightforward tips that will have you feeling like a business budgeting pro in no time!

Industry Standards

It is important that you do some research when it comes to budgeting your business and this is best done when finding out more information about the industry, local businesses etc. Smaller businesses can often find it hard to fight against the larger industries so it is helpful to ensure that you build up an image of your business budget by looking at the average figures on this occasion.

Spreadsheet

Before you do anything else, it is important that you create a spreadsheet that will allow you to estimate how much of your money will need to be allocated to different areas and costs within the business. It may also be worthwhile to get in touch with suppliers so that you have a more accurate picture of the figures before you continue. The same will also go for rent, taxes and insurance etc.

Factor in alternative situations

While you may already have some idea as to how your numbers will be once you begin trading, it is important to remember than an initial budget is just an estimate. By allowing for wiggle room you will find that you will have a more realistic and workable picture of how your business will operate from a financial standpoint.

Cost cutting

If you are short on money and have to find the funds to support a particular situation, it would be a wise decision to consider cutting costs wherever possible. This typically involves looking at areas where you can control the costs in a way that is strict but also does not negatively impact on the day to day running of your business.

Review

While businesses tend to establish their budgets early on, it is certainly worth reviewing your figures frequently to ensure that your business is able to adapt to changes and not be thrown off course when it comes to budgeting as your business grows.

Software solutions

Because of the demand for support when it comes to helping businesses with their financial matters, the wealth management industry has introduced some exceptionally helpful new software options to help you make your money go further. Research the best possible solution for you and compare the services each offer and you could find that budgeting becomes far more straightforward in the future.

Budgeting is an essential part of any business ad can be used when it comes to forecasting and then matching up the current to future revenue and expenditure. With the help of our guide you should find that you will be able to make enough money to keep your business running smoothly and successfully, allowing your business to grow and compete against competitors.



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Startups That Make Running an Accounting Department Easier https://homebusinessmag.com/money/accounting-and-bookkeeping/startups-make-running-accounting-department-easier/ https://homebusinessmag.com/money/accounting-and-bookkeeping/startups-make-running-accounting-department-easier/#respond Tue, 06 Jun 2017 22:30:16 +0000 https://homebusinessmag.com/?p=33671 Check out these six startups that make running an accounting department easier.

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Accounting is a necessary business task, but it’s time consuming and stressful. Many businesses don’t know that there are plenty of options beyond Intuit QuickBooks that can save you a lot of financial stress without spending a lot of money. Check out these six startups that make running an accounting department easier.

Smacc

Image via Flickr by 401(K)2013 (http://401kcalculator.org)

Smacc uses AI to automate accounting for businesses. The company takes receipts and turns them into machine-readable formats that are then encrypted for accounting departments. Smacc’s system checks invoices for accuracy and even learns how to deal with frequent suppliers automatically. This saves accounting departments a lot of time. There are all sorts of cloud-based accounting and finance companies, but Smacc stands out for its automation integration.

Sol Partners

Sol Partners is a financial services company that helps startups and established businesses with new product launches, predictive risk/fraud monitoring, back office servicing platforms, and risk analytics. This is made possible because of Sol Partner’s smart executives and the software the company uses. For instance, Sol Partners uses Fintech to track data, speed up accounting processes, and handle payments. Sol Partners is a great place to turn for accounting consulting.

Xero

Xero is an excellent accounting software solution for small businesses that don’t have a lot of money to spend on financial tasks. It’s an alternative to QuickBooks that’s easy to learn and just as versatile. The company has already secured more than 500 thousand clients and is growing daily. Xero wants to become the go-to accounting software for all business-related financial tasks, and the company stands out for its real-time view of cash flow that’s secured in the cloud. With Xero, your company can reconcile fast and process invoices and quotes with ease.

Audit File

Auditing is how businesses keep their accounting departments in check. Audit File streamlines the audit process for CPAs and other financial professionals. It’s a great tool to help companies perform more efficient reviews and audits without worrisome or clunky software.

inDinero

inDinero handles bookkeeping, payroll, taxes, and benefits to free up time for business owners. Along with all of these back office functions, the company provides financial tools and data to help your small business grow. The company has easy-to-use software that can be integrated across platforms and it’s more affordable than most competitors in the industry. inDinero can manage your books and take all the stress out of handling business finances.

Wave

Wave is a cloud-based software company that handles practically all financial tasks for your business. It’s backed by Charles River Ventures and has raised over $10 million to perfect its software. Wave takes care of accounting, invoicing, payroll, and payments and changes the way that accounting departments work. The company has also integrated financial tools to handle your entire portfolio, making Wave a one-stop shop for business owners.

Your business won’t be able to skip the accounting process, but you can choose a company that makes the process easier. Before turning to Quickbooks, look into the benefits of the companies listed here. You have more options than you think.



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How You Can Save Money with Home Automation https://homebusinessmag.com/money/personal-finance/can-save-money-home-automation/ https://homebusinessmag.com/money/personal-finance/can-save-money-home-automation/#respond Tue, 06 Jun 2017 21:47:58 +0000 https://homebusinessmag.com/?p=33666 Home automation is becoming increasingly popular as a money-saving gesture precisely because it allows people to save money without sacrificing many home comforts.

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When people look into how to best save money around the home, they normally think about taking such measures as reducing the amount of time the heating is on; making sure to put lights off when leaving the room (not to mention leaving the house); and using less water. Home automation steps in to fill the gap when people are trying to save money, both in helping them to gain better control over their house through the use of remote devices and other forms of automation, but also because home automation in itself can save homeowners money. Home automation is becoming increasingly popular as a money-saving gesture precisely because it allows people to save money without sacrificing many home comforts.

Home automation is something which has gradually incorporate linear actuators into more and more designs over the years. Progressive actuators in particular are often used in camera lifts, chair lifts, TV, and the various other uses to which linear actuators can be put.

Remote Control

Remote control over the house and what is in it can help to save money, as it eliminates the need for constant oversight of lights, heating, and water, among other things. Before, having people wandering around and using the lights and the water needed care to make sure that everything had been turned off – with a remote control, or remote device, homeowners can simply press a button and have the lights turn off, and the heating go off. This saves energy because it means that everything can be controlled from one spot, and it also means that a light left on is not going to be using electricity until someone can reach the area and turn it back off – simply press a button and it is off.

Timed Thermostats

Every boiler has a timer on it which can be used to control the heating to a greater or lesser extent. Home automation has given us smart thermostats, the next step in the evolution of heating control. Smart thermostats give a greater degree of control over a boiler because they can be more accurate, and also because they can be linked to a mobile device to allow the homeowner to control the heating even when away from the premises. Having this amount of control over the boiler can save a lot of money, as it means that changes in plans which take people away from their houses will not result in wasted electricity.

Smart Sockets

There are now smart sockets which can be controlled from a mobile device, or which can function on their own, much like timers. These sockets allow home owners a greater amount of control over the appliances which are plugged into them, as many smart sockets can be controlled remotely – they can be switched off if they are no longer needed, and switched on a few minutes before they are, therefore saving lots of energy rather than sitting around using up electricity when no one is around.

Smart sockets could also help homeowners to reduce energy consumption by another means: they can sometimes record the amount of energy used by the appliance which is plugged into them. This knowledge can be used by homeowners to make changes that cut down on electricity usage.



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Why Is Meta Trader the Most Popular Trading Platform? https://homebusinessmag.com/money/meta-trader-popular-trading-platform/ https://homebusinessmag.com/money/meta-trader-popular-trading-platform/#respond Tue, 06 Jun 2017 20:57:47 +0000 https://homebusinessmag.com/?p=33660 MetaTrader 4, developed by MetaQuotes Software Corp, is a highly flexible and scalable platform, designed for different types of traders and investors, with different skills levels.

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Trading platforms have changed the way investors and traders open and close market positions. As a software, it makes trading easier, allowing season business owners and casual investors to place trades remotely, and even monitor accounts through advanced features like charts, news and statistics. Although all trading platforms take away the usual stress that comes with traditional trading and investing, not all platforms are created the same. MetaTrader 4, developed by MetaQuotes Software Corp, is a highly flexible and scalable platform, designed for different types of traders and investors, with different skills levels. Although a trading platform at its core, MetaTrader 4 is considered the most popular, thanks to the inclusion of advanced analytics in the form of charts and graphs that can help promote an informed investor. Market information and trends are critical pieces of information for a trader and investor, and clearly the designers and makers of MetaTrader 4 understand this requirement. On top of the graphs and charts following the rise and fall of stock values, this platform also features alert tools and financial news to help investors stay on top of their game, and make informed trading decisions. Many brokers are aware of this popularity of this trading platform and offer it to their users, for example you can find metatrader 4 at Avatrade.

MQL4 and 5- At the Core of the Trading Platform Operations

At the core of the operations of this trading platform are MetaQuotes Language 4 (MQL4) and MetaQuotes Language 5 (MQL5), all programming languages that develop trading robots, scripts and other functions. It is through these languages that the platform allows for automated trading and analysis of data. Also, traders and users of these programs (the MetaTrader platform) can easily analyze blocks of information, thus allowing users to gain insights from data and statistics. Specifically, these languages can inform users about an event, provide custom indicators and execute a trading action.

Automated Trading Possible with MT4

Although MetaTrader 4 is a full-featured platform, it is best known for its automated trading feature. Its language, the MQL4, allows for the creation of ‘Expert Advisors’ or trading robots and other helpful indicators within its ‘Meta Editor. This is the platform where the Expert Advisors and custom indicators are designed and developed for adoption within the trading platform. Also, there are ready-made apps that are pre-installed, and ready to be launched.

With its algorithmic trading, different kinds of strategies can be drafted and tested using its ‘strategy tester’, including running EA strategies in more than 50 forex Contract of Difference (CFD) markets, all implemented in behalf of the investor. Also, the same automated feature allows users to design custom indicators, and assign different kinds of orders, from stop to partial orders.

To improve the functionality of the platform, seasoned and casual investors can use trading robots which can be designed, purchased online or downloaded from a library of free trading robots. Code Base is the main source of free trading robots for Meta Trader 4, and users can choose from more than 900 trading robots and 2,000 indicators. The great thing about this paid and free library of trading robots is that it displays screen shots and short descriptions, allowing a trader to assess if each robot or indicator is the right fit for an identified strategy.

Summary

Meta Trader 4 is designed as a highly scalable and flexible trading platform that can work for all types of trading strategies, and for investors with varying skills set. At the core of the platform are analytical functions and easy access to the Meta Trader 4 market that lists free and paid trading robots and custom indicators. In short, the Meta Trader gets all bases covered when it comes to an informed trading experience. With Meta Trader 4, trading becomes easier thanks to a platform that gets the job done, for you.



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