Thursday, December 23, 2010

Before Appointing a Business Advisor

To choose a perfect business advisor is always a most important and serious decision for the business. As there will be lot of legal and confidential matters will be handled by him/her efficiency, honesty and knowledge is the main things to consider while hiring a business adviser.

There are various kinds of business advisors like financial, legal, insurance etc. These people have specialized to solve the problems related to their fields. Almost all business owners sometime face a kind of problem in any issue like financial, legal etc at that time he/she needs an advisor to solve out the problem.

With respect to business as a business owner you have already taken a risk by starting your own business. The business always can’t profit if you don’t have a specific plan or business strategy. Sometime when business start to loss business owners may not be able to find out the exact reason for the loss. A professional business advisor can be a benefit not only finding out but also solving the problem by his/her expertise. The business advisor can guide you how to reach to your business goal.

A business advisor is like a doctor for any company. He/she has the expertise in finding out the disease from the business system and provides remedies and precautions to cure the business from the disease. To choose a perfect business advisor is always a most important and serious decision for the business. There some key points that a business owner should keep in mind when he/she like to appoint a business advisor for the company.

First you should do is to ask to your friends, co-workers, your CPA, your attorney, your banker, and your insurance agent etc who have already appointed or know a business advisor After collecting recommendations from the business network you need to investigate about the advisor more as much as you can. It will help you to analyze the efficiency and credibility of the business advisor. It is important that you select a business advisor who is competent, experienced and has both integrity and expertise-an individual that you can trust in this newly formed fiduciary relationship.

Find out the services offered by the business advisor because services likely to change from advisor-to-advisor. You should keep in mind your business goal and evaluate the best services for your business. You should also compare services provided by them as compare to their charges. It should not be out of your budget.

You should find out his/her interest in your business. If he/she is not giving enough importance to your business as needed, than you need to change the advisor as early as possible.

Before appointing a advisor you should also be able trust him. As some of your very confidential documents will be handled by his/her, you should discuss the bonds of confidentiality with him. To sign a confidentiality agreement is recommended.

You should ask about the strategy that he/she going to advice you for your business. You should ask them about the analysis done by them for the strategy. Asking questions about the strategy can help you to find out his/her potential or sometime it can also save you lot money that may wasted by that strategy.

Monday, December 13, 2010

How QuickBooks can be beneficial for a Business?

What Is QuickBooks?

QuickBooks is a software program that allows you to better run your business. You can easily track your customers, vendors and employees. By making the proper collection of this information you can accurately total your taxes at the end of the year and you will know how profitable your business was.

QuickBooks is an effective productivity tool designed to help to manage financial information more easily & more accurately. This software helps in accounting, bookkeeping and managing income and expenses. QuickBooks can be accessed directly from desktop or online, depending on the type of account that you want.

In brief we can say that QuickBooks is a complete accounting software package that is easy enough for a business owner with no accounting experience to use and thorough enough to help the business owner complete difficult and lengthy record keeping, tax filings and budget forecasting.

QuickBooks eliminates the need for a full-time bookkeeper and enables the business owner to complete some accounting tasks. By using QuickBooks business owner can save a lot of money in many areas.

Benefits of Using QuickBooks:

Keep the record of Transactions:

QuickBooks make the record of your each transaction into a single larger collection of transactions, so you can easily access or assess your all transaction from a single resource. You don’t need to find out from different resources. Your all transactions are well managed in QuickBooks so you not need to ask anyone about the records you can easily inspect all you transaction ever of the whole at a single click. You will be able to print checks, email invoices, and complete payroll in less time than attempting to do it all manually.

Payroll & Tax Management:

Payroll is a service that includes the calculating, filing and paying of each payroll tax form. Using QuickBooks-assisted payroll means that the software will assist with the busywork of filing and paying taxes along with issuing W-2 and 1099 forms at the end of each year. You don’t need to work out for the rules it will automatically cut off taxes as per rules once it is entered into the software.

Online Business Facility:

QuickBooks helps small business owners to create and maintain online stores so that they can sell their merchandise online 24 hours a day and 7 days a week. All transactions are entered into your QuickBooks file automatically with invoices, receipts, and so on automatically entered into the company file.

Creation & Management of Reports:

QuickBooks software generates various reports in no time as per the requirement specifications entered by the business owner. It’s very accurate that when business owner wants to see transactions he/she can see that with full detail & with no extra time to spend in making reports of those transactions. Today most of the QuickBooks software also provide e-mail facilities, so that it can be easy to send mails at a time with no effort in making them.The formats for business mailing are also provided in some of the softwares.

Design & Assess Business Strategy:

With the QuickBooks business owner can assess the business precisely & make the strategies for the business. One can accurately assess from by which strategy he/she can be more profitable & can grow business more effectively.

More information for QuickBooks Accounting