Next Level of financial success : Business Cash Flow

 Business Cash Flow is certainly the lifeblood of your growing business even your business small or large size enterprice. In fact, it's what keeps you in business. To be a hit in business, you want to be ready to keep your finger on the heart beat of this lifeblood – it are often the difference between growing stronger in your niche or faltering and falling by the wayside. income must be monitored and forecasted at the initial beginning of the business or during the start-up phase, when the business sees a rise of sales, and when the economy is during a downturn. Simply put, cash flow management analysis are often a beneficial instrument for measuring your business’ activity.

Identifying Potential Land Mines

You can easily identify potential financial land mines which will set your business back by developing a income spreadsheet. There are computerized spreadsheet programs that you simply can use to make a income analysis, otherwise you can build your own employing a basic program like Excel. There also are templates which will be used for your income analysis that you simply simply populate with the proper figures. The income analysis tool that you simply prefer to use should be utilized then monitored regularly. Most business owners report doing a weekly analysis of their business’ income , but you'll choose a special schedule if you would like , like bi-weekly or monthly. The important thing is to be consistent and regular. As a business owner, you ought to fill out this analysis yourself, or you can hire an quickbooks accountant.

How to Prepare a Cash Flow Analysis

The formula for cash analysis is: beginning balance for the amount + income = ending balance. The ending balance will allow you to spot when and for a way much your income are going to be deficient, if at all. Identifying cash shortages and once they will occur will allow you to combat the matter and take steps to usher in additional cash to the business while halting the outflow of money wherever possible. If you discover that your business may experience a cash shortage when doing all of your income analysis, you'll take steps like posing for interim payments or deposits from clients, utilizing the utilization of a retainer if your business model involves it, and invoicing customers directly when a service is rendered or a sale is formed. Business Cash flow analysis is a valuable tool for all business owners and its nessasary for the all the business.

Read More: https://www.myaccountsconsultant.com/business-cash-flow-analysis-the-blood-of-business-success/

Business Cash Flow management is next level of business success

Business Cash Flow is certainly the lifeblood of your growing business even your business small or large size enterprice. In fact, it's what keeps you in business. To be a hit in business, you want to be ready to keep your finger on the heart beat of this lifeblood – it are often the difference between growing stronger in your niche or faltering and falling by the wayside. income must be monitored and forecasted at the initial beginning of the business or during the start-up phase, when the business sees a rise of sales, and when the economy is during a downturn. Simply put, cash flow management analysis are often a beneficial instrument for measuring your business’ activity.

How to Prepare a Cash Flow Analysis

To begin preparing your cash flow analysis, start your spreadsheet by adding the cash-on-hand at the period’s beginning with the cash that's anticipated to be received from other sources. this may be a projected total of income, including receipt of assets and cash sales. 

Read More: https://www.myaccountsconsultant.com/business-cash-flow-analysis-the-blood-of-business-success/

The Blood of Business Success with Business Cash Flow

 

Business Cash Flow is certainly the lifeblood of your growing business even your business small or large size enterprice. In fact, it's what keeps you in business. To be a hit in business, you want to be ready to keep your finger on the heart beat of this lifeblood – it are often the difference between growing stronger in your niche or faltering and falling by the wayside. income must be monitored and forecasted at the initial beginning of the business or during the start-up phase, when the business sees a rise of sales, and when the economy is during a downturn. Simply put, cash flow management analysis are often a beneficial instrument for measuring your business’ activity.

Identifying Potential Land Mines

You can easily identify potential financial land mines which will set your business back by developing a income spreadsheet. There are computerized spreadsheet programs that you simply can use to make a income analysis, otherwise you can build your own employing a basic program like Excel. There also are templates which will be used for your income analysis that you simply simply populate with the proper figures. The income analysis tool that you simply prefer to use should be utilized then monitored regularly. Most business owners report doing a weekly analysis of their business’ income , but you'll choose a special schedule if you would like , like bi-weekly or monthly. The important thing is to be consistent and regular. As a business owner, you ought to fill out this analysis yourself, or you can hire an quickbooks accountant.

How to Prepare a Cash Flow Analysis

To begin preparing your cash flow analysis, start your spreadsheet by adding the cash-on-hand at the period’s beginning with the cash that's anticipated to be received from other sources. this may be a projected total of income, including receipt of assets and cash sales. 

The next a part of the business cash flow analysis consists of money outlays, including expenses and other anticipated cash which will be spent by the business. Each significant cash outlay should have its own individual line on your spreadsheet. This includes lines for rent, inventory purchased, wages, salaries, taxes withheld or accounts payable, equipment purchased, benefits paid, sales, office supplies, advertising, equipment maintenance, fuel, cash dividends, debt payments, and so on. 

The formula for cash analysis is: beginning balance for the amount + income = ending balance. The ending balance will allow you to spot when and for a way much your income are going to be deficient, if at all. Identifying cash shortages and once they will occur will allow you to combat the matter and take steps to usher in additional cash to the business while halting the outflow of money wherever possible. If you discover that your business may experience a cash shortage when doing all of your income analysis, you'll take steps like posing for interim payments or deposits from clients, utilizing the utilization of a retainer if your business model involves it, and invoicing customers directly when a service is rendered or a sale is formed. Business Cash flow analysis is a valuable tool for all business owners and its nessasary for the all the business.

Contact us here for the Business cash flow management.

online travel agency: The Next level accounting solution

23

Mar

Are you planning to start a travel agency? If so, you should be ready to meet all important aspects of running an agency successfully. Right from finding the perfect location to getting legal permission and approaching partners, there are some crucial steps to take. Travel agencies make travelling much easier for customers by eliminating all the hassles attached to purchasing tickets, picking affordable packages etc. In recent times, people have using online platforms to search for travel related information and buy tickets and packages.

This had given a jolt to offline travel agents and their businesses had slowed down. But, digital travel sales have increase. In the United States, digital travel sales have increased to $180 billion, which is expected to exceed 213 billion by 2020. The travel market is flooded with online travel agencies, including Expedia and Priceline group, which have shown that the future of online travel agencies is bright. But there is still wide scope for conventional travel agents who earn their commission by working in the field.

The survey found that in 2015, majority of travel agents, around 60 per cent of all agents, had reported growth in sales. Whether you are setting up an online travel agency or a conventional offline agency, you need to follow some basics. Remember that your new agency has many new and established similar businesses as competitors. You should also take note that people generally prefer older agencies. So, it would be a tough job for your agency to get notice in the market. These basics will help your new agency run its business successfully.

Take The Next Step

When you start a travel agency or travel agent, you need to keep accurate accounting & financial records for your business with bookkeeping for Travel Agency. These all records help you keep track of your travel agency's performance and are necessary for preparing your tax preparation & return. The most important bookkeeping procedures for a travel agency are the cash flow statement, Accounts Payables & Receivables the general ledger and the income statement.

Work on enhancing travelling and tourism experience by improving every stage of Travel Agency. Be target oriented and focus on digital and comfort-savvy clients. For Bookkeeping of your travel agency, We care our customers like no other. With the help of QuickBooks Bookkeeping Services you can manage all your business operations effectively and smoothly.

Types of Travel Agencies

Travel Agencies aren't required to obtain licensing or certification, though recognize organizations accredit and certify members. Travelers can confirm the travel agency's accreditation by looking for the accrediting body's logo on the Travel Agency's website or brochure. Asta accreditation: ASTA accreditation assures clients that the agency operates under ASTA's code of ethics and will communicate with clients about unexpected changes to travel plans. Iata accreditation: IATA accreditation provides Agencies with Sales Agency Agreements and TIDS numbers that authorize sales of international and domestic airline tickets. Unaccredited Agencies: If considering unaccredited Travel Agency, take into account that their lack of accreditation could mean they are inexperienced or have had service problems that cause loss of accreditation.

Whats a travel agent?

High street travel agents have been around for a long time. Up until only a few years ago, high street travel agents were the most popular and most common types of travel agents. High street travel agents are typically found in major shopping areas, such as local high streets or in shopping malls. High street travel agents typically have area where holiday brochures are displayed and desks for consumers to sit at and talk than travel agent. Travel agent staff are generally very knowledgeable about products and services they are selling and offer high standards of customer service. Many people continue to prefer house high street travel agents because they enjoy face - to - face interaction. However, fewer and fewer people have been using travel agents in recent years. This has led to the closure of many high - street travel agents.

Top Business Travel Management Companies

1. Expedia

2. Booking.com

3. American Express Global Business Travel

4. BCD Travel

5. CWT – Business Travel Management Company

The relationship between companies and travelers is changing and we understand our travelers are your employees. CWT helps organizations deliver a travel program that engages employees.
Website: www.mycwt.com

Read More: https://www.myaccountsconsultant.com/how-to-start-and-grow-your-online-travel-agency/

How online travel agency help you in grow your traveling business ?

The survey found that in 2015, majority of travel agents, around 60 per cent of all agents, had reported growth in sales. Whether you are setting up an online travel agency or a conventional offline agency, you need to follow some basics. Remember that your new agency has many new and established similar businesses as competitors. You should also take note that people generally prefer older agencies. So, it would be a tough job for your agency to get notice in the market. These basics will help your new agency run its business successfully.

Take The Next Step

Work on enhancing travelling and tourism experience by improving every stage of Travel Agency. Be target oriented and focus on digital and comfort-savvy clients. For Bookkeeping of your travel agency, We care our customers like no other. With the help of QuickBooks Bookkeeping Services you can manage all your business operations effectively and smoothly.

Whats a travel agent?

High street travel agents have been around for a long time. Up until only a few years ago, high street travel agents were the most popular and most common types of travel agents. High street travel agents are typically found in major shopping areas, such as local high streets or in shopping malls. High street travel agents typically have area where holiday brochures are displayed and desks for consumers to sit at and talk than travel agent. Travel agent staff are generally very knowledgeable about products and services they are selling and offer high standards of customer service. Many people continue to prefer house high street travel agents because they enjoy face - to - face interaction. However, fewer and fewer people have been using travel agents in recent years. This has led to the closure of many high - street travel agents.

Top Business Travel Management Companies

1. Expedia

Your one-stop travel site for your dream vacation. Bundle your stay with a car rental or flight and you can save more. Search our flexible options to match your needs.

Website: www.expedia.com

2. Booking.com

Big savings on hotels in 120,000 destinations worldwide. Browse hotel reviews and find the guaranteed best price on hotels for all budgets.

Website: www.booking.com

3. American Express Global Business Travel

AMEX Travel provides end-to-end corporate travel management services, meetings and booking solutions. We provide business travelers with managed programs.

Website: www.amexglobalbusinesstravel.com

4. BCD Travel

We simplify the conversation around managed business travel, showing you how to combine capabilities and services to deliver or improve on your program goals.

Website: www.bcdtravel.com

5. CWT – Business Travel Management Company

The relationship between companies and travelers is changing and we understand our travelers are your employees. CWT helps organizations deliver a travel program that engages employees.
Website: www.mycwt.com

Read More: https://www.myaccountsconsultant.com/how-to-start-and-grow-your-online-travel-agency/

Grow your Traveling business with online travel agency

 

Are you planning to start a travel agency? If so, you should be ready to meet all important aspects of running an agency successfully. Right from finding the perfect location to getting legal permission and approaching partners, there are some crucial steps to take. Travel agencies make travelling much easier for customers by eliminating all the hassles attached to purchasing tickets, picking affordable packages etc. In recent times, people have using online platforms to search for travel related information and buy tickets and packages.

This had given a jolt to offline travel agents and their businesses had slowed down. But, digital travel sales have increase. In the United States, digital travel sales have increased to $180 billion, which is expected to exceed 213 billion by 2020. The travel market is flooded with online travel agencies, including Expedia and Priceline group, which have shown that the future of online travel agencies is bright. But there is still wide scope for conventional travel agents who earn their commission by working in the field.

The survey found that in 2015, majority of travel agents, around 60 per cent of all agents, had reported growth in sales. Whether you are setting up an online travel agency or a conventional offline agency, you need to follow some basics. Remember that your new agency has many new and established similar businesses as competitors. You should also take note that people generally prefer older agencies. So, it would be a tough job for your agency to get notice in the market. These basics will help your new agency run its business successfully.

Take The Next Step

When you start a travel agency or travel agent, you need to keep accurate accounting & financial records for your business with bookkeeping for Travel Agency. These all records help you keep track of your travel agency's performance and are necessary for preparing your tax preparation & return. The most important bookkeeping procedures for a travel agency are the cash flow statement, Accounts Payables & Receivables the general ledger and the income statement.

Work on enhancing travelling and tourism experience by improving every stage of Travel Agency. Be target oriented and focus on digital and comfort-savvy clients. For Bookkeeping of your travel agency, We care our customers like no other. With the help of QuickBooks Bookkeeping Services you can manage all your business operations effectively and smoothly.

Types of Travel Agencies

Travel Agencies aren't required to obtain licensing or certification, though recognize organizations accredit and certify members. Travelers can confirm the travel agency's accreditation by looking for the accrediting body's logo on the Travel Agency's website or brochure. Asta accreditation: ASTA accreditation assures clients that the agency operates under ASTA's code of ethics and will communicate with clients about unexpected changes to travel plans. Iata accreditation: IATA accreditation provides Agencies with Sales Agency Agreements and TIDS numbers that authorize sales of international and domestic airline tickets. Unaccredited Agencies: If considering unaccredited Travel Agency, take into account that their lack of accreditation could mean they are inexperienced or have had service problems that cause loss of accreditation.

Whats a travel agent?

High street travel agents have been around for a long time. Up until only a few years ago, high street travel agents were the most popular and most common types of travel agents. High street travel agents are typically found in major shopping areas, such as local high streets or in shopping malls. High street travel agents typically have area where holiday brochures are displayed and desks for consumers to sit at and talk than travel agent. Travel agent staff are generally very knowledgeable about products and services they are selling and offer high standards of customer service. Many people continue to prefer house high street travel agents because they enjoy face - to - face interaction. However, fewer and fewer people have been using travel agents in recent years. This has led to the closure of many high - street travel agents.

Top Business Travel Management Companies

1. Expedia

Your one-stop travel site for your dream vacation. Bundle your stay with a car rental or flight and you can save more. Search our flexible options to match your needs.

Website: www.expedia.com

2. Booking.com

Big savings on hotels in 120,000 destinations worldwide. Browse hotel reviews and find the guaranteed best price on hotels for all budgets.

Website: www.booking.com

3. American Express Global Business Travel

AMEX Travel provides end-to-end corporate travel management services, meetings and booking solutions. We provide business travelers with managed programs.

Website: www.amexglobalbusinesstravel.com

4. BCD Travel

We simplify the conversation around managed business travel, showing you how to combine capabilities and services to deliver or improve on your program goals.

Website: www.bcdtravel.com

5. CWT – Business Travel Management Company

The relationship between companies and travelers is changing and we understand our travelers are your employees. CWT helps organizations deliver a travel program that engages employees.
Website: www.mycwt.com

Get Travel Agency Bookkeeping Consultation:

Professional Accountant help in managing your books of accounts. lets you focus on delivering best-in-class travel bookkeeping Services to your clients. we look forward to designing custom accounting solutions for travel agency to help you make the most out of your business.

Contact us here for the Bookkeeping services for Traveling agency.

Best Practices To Improve Accounts Receivable Processes

 

Accounts Receivable For Business Owner

If you re new business owner, or have recently switched accounting methods from cash to accrual accounting, you may not be familiar with accounts receivable. Accounts receivable plays an active role in the accounting cycle.

Accounts receivable totals directly affect your net income since they are considered revenue, but subsequent collection of any receivables balances do not affect your retained earnings, since they are already part of your revenue total. In addition, accounts receivable is permanent account and is not affected by closing entries. Sending an invoice to your customers promptly helps to ensure that payment will be made promptly.

Send invoice immediately: Dont wait week before sending invoice. Once the purchase is complete, invoice should be completed as well.

Use accounting software If you can: One of the nice things about using accounting software is that once a sale is process, you can immediately invoice your customers.

Be sure terms are front and center on your invoice: If you expect payment in 30 days, be sure that note is prominently on the invoice. Remember, your customers ca pay you on time if they do know when payment is due. Note that sales tax is not included in this journal entry, because sales tax remittance is handled in a separate transaction. The easiest way to post customer payments is by accepting payments online. However, many people still have their customers remit payments through mail.

Here are some tips to manage customer payments properly:

Multiple payment options:

Quickest way to receive payment is to provide your customers with numerous payment options. While online payments offer greater convenience, some businesses still prefer to pay bills by check. Make sure your customers have the option to do both.

Online payments are posted accurately:

If your accounting software automatically posts payments from your bank, be sure that payment is posted properly. In most cases, automatic posting is complete without issue, but there are times when payments are put in limbo or even posted to the wrong account.

Read More: https://www.myaccountsconsultant.com/accounts-receivable-process-8-steps-for-improving/

The step of Accounts Receivable process For Business Owner

If your business accepts credit cards, credit card company manages risk. But if customers are going to pay with cash or cheques, you must manage verification of payments and risk. X Trustworthy Source US Small Business Administration, US government agency, focuses on supporting small businesses. The Go to Source accounts receivable services includes setting up procedures for extending credit, generating invoices, maintaining records of payments due and payments receive, and performing accounting functions.

What Is an Accounts Receivable?

Its vital that you stay on top of your Accounts Receivable balances. This way, you can make sure that customers are reminded when payment due dates draw closer as well as follow up when payments are late.

If you are using Accounting software, you can run a weekly Accounts Receivable report to see which accounts are past due and which will soon be due. This can help you collect past due accounts. Proper Management of your Accounts Receivable balances is important.

Accounts Receivable For Business Owner

If you re new business owner, or have recently switched accounting methods from cash to accrual accounting, you may not be familiar with accounts receivable. Accounts receivable plays an active role in the accounting cycle.

Accounts receivable totals directly affect your net income since they are considered revenue, but subsequent collection of any receivables balances do not affect your retained earnings, since they are already part of your revenue total. In addition, accounts receivable is permanent account and is not affected by closing entries. Sending an invoice to your customers promptly helps to ensure that payment will be made promptly.

8 Best Practices To Improve Accounts Receivable Processes

See More : https://visual.ly/community/Infographics/business/8-best-practices-adopt-improve-accounts-receivable-processes

Here are some tips to manage customer payments properly:

Multiple payment options:

Quickest way to receive payment is to provide your customers with numerous payment options. While online payments offer greater convenience, some businesses still prefer to pay bills by check. Make sure your customers have the option to do both.

Read More: https://www.myaccountsconsultant.com/accounts-receivable-process-8-steps-for-improving/

Simple 8 Steps for Improving your Accounts Receivable Process

 

You need to set up procedures for accounts receivable if you extend credit to your customers. Account receivable arises when you allow customer to take immediate possession of a product or receive service in return for a promise to pay in future. In other words, this means you allow them to take possession of your products before they pay you.

If your business accepts credit cards, credit card company manages risk. But if customers are going to pay with cash or cheques, you must manage verification of payments and risk. X Trustworthy Source US Small Business Administration, US government agency, focuses on supporting small businesses. The Go to Source accounts receivable services includes setting up procedures for extending credit, generating invoices, maintaining records of payments due and payments receive, and performing accounting functions.

What Is an Accounts Receivable?

Its vital that you stay on top of your Accounts Receivable balances. This way, you can make sure that customers are reminded when payment due dates draw closer as well as follow up when payments are late.

If you are using Accounting software, you can run a weekly Accounts Receivable report to see which accounts are past due and which will soon be due. This can help you collect past due accounts. Proper Management of your Accounts Receivable balances is important.

Accounts Receivable For Business Owner

If you re new business owner, or have recently switched accounting methods from cash to accrual accounting, you may not be familiar with accounts receivable. Accounts receivable plays an active role in the accounting cycle.

Accounts receivable totals directly affect your net income since they are considered revenue, but subsequent collection of any receivables balances do not affect your retained earnings, since they are already part of your revenue total. In addition, accounts receivable is permanent account and is not affected by closing entries. Sending an invoice to your customers promptly helps to ensure that payment will be made promptly.

Send invoice immediately: Dont wait week before sending invoice. Once the purchase is complete, invoice should be completed as well.

Use accounting software If you can: One of the nice things about using accounting software is that once a sale is process, you can immediately invoice your customers.

Be sure terms are front and center on your invoice: If you expect payment in 30 days, be sure that note is prominently on the invoice. Remember, your customers ca pay you on time if they do know when payment is due. Note that sales tax is not included in this journal entry, because sales tax remittance is handled in a separate transaction. The easiest way to post customer payments is by accepting payments online. However, many people still have their customers remit payments through mail.

8 Best Practices To Improve Accounts Receivable Processes

See More : https://visual.ly/community/Infographics/business/8-best-practices-adopt-improve-accounts-receivable-processes

Here are some tips to manage customer payments properly:

Multiple payment options:

Quickest way to receive payment is to provide your customers with numerous payment options. While online payments offer greater convenience, some businesses still prefer to pay bills by check. Make sure your customers have the option to do both.

Online payments are posted accurately:

If your accounting software automatically posts payments from your bank, be sure that payment is posted properly. In most cases, automatic posting is complete without issue, but there are times when payments are put in limbo or even posted to the wrong account.

Contact us here for the help in improve your business accounts receivable process and receivable query.

Convert your QuickBooks Desktop data to Online Version: The Guide

This step by step guide will help you convert from QuickBooks Desktop to any version of QuickBooks Online, except Self-Employed. If you don’t have QuickBooks Online, new subscribers can choose between 35% off for three months or a 30-day free trial period.

For starters, there's no direct way to move your client's account from QuickBooks Online to QuickBooks Desktop.

Here the step by step guide for QuickBooks Online to Desktop data conversion

1. Login to your client's QuickBooks Online account.

2. Go to the Gear Icon.

3. Choose Export Data.

4. Enter your reason why you're exporting your client's data.

5. Click Continue.

6. Under Moving to QuickBooks Desktop?, select Learn more.

7. Under Download company data, choose Learn more.

8. Review your data from the export overview screen, then click Get Started.

9. In the Exporting from QuickBooks Online page, select Continue to Download.

10. Follow the rest of on-screen instruction to complete the exporting process.

You follow the above steps or guideline for the convert QuickBooks Desktop to Online, but still if you have any difficulties or doubts then need to hire an accounting firm like MAC who can help you in converting your data from QuickBooks desktop to online with QuickBooks Bookkeeping Services.

Contact us here for the Convert your current QuickBooks Desktop data to Online Version.

Read More: https://www.myaccountsconsultant.com/step-by-step-guide-for-export-quickbooks-online-to-desktop/