Close Your Accounting Books Fast With a Month-End Checklist .

By Wade Anderson

The month end close checklist is a system that allows a company to facilitate the end of month accounting department closing process. A comprehensive month end close checklist will contain much useful information that is exhaustive in its detail and may cover the following areas: bank reconciliation, budget versus actual, cash flow analysis, accounts payable, accounts receivable, fixed assets, debt reconciliation and a host of other items.

When using a month end close checklist, it is highly recommended that most small to medium size companies prepare six binders, one each for Accounts Receivable, Sales Orders, Accounts Payable, Purchase Orders, Payroll and General Ledger. The binders should be 3 or 4 inches thick and can be obtained from the office supply stores with each binder having twelve dividers, one for each month. In each of these binders place the completed month-end checklists and month end reports as printed out by the accounting.

Once these procedures are followed diligently, the month end close checklist system will assist the company auditing department, which must provide relevant information to the IRS and to other state tax auditors. In addition, this system acts as a fallback in case of a disastrous system or backup failure.

There are two types of closing checklists. Those that pertain to year end (hard closes) and those pertaining to month end (soft closes) and each is useful in providing managers in the organization with important financial information, especially for internal use. With the growing use of computers, the month end close checklist has now found its way into software packages that automate the whole process for the current month and for the next month.

An important aspect of month end close checklists is the presence of closing process controls which can be either preventive or detective and which are used to produce company financial reports for each month. Usually companies formulate their own regulations to ensure that the procedures that they use are effective and that the reports accurately provide month end information about the financial position of the company. The checklist is there to provide a method of keeping accurate financial records that are both consistent and well maintained.

There are a number of vendors selling month end close checklists that, after a lot of research and expert advice, have been diligently prepared and which take into account all aspects of the company's accounting procedures. The checklist can also be tailored to suit individual needs as required. The cost is not more than ten dollars and the benefit to the user is tremendous as there is no need to do much more than fill in the relevant information and once that is done, the month end close checklist is ready to be used for the individual company's accounting system.

Wade Anderson is a CPA and operates DigitalWorkTools.com
Legal Forms and Business Documents. Click to view a Month End Close Checklist

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How to Start a Business - Announcing 6 Fast Methods to Jumpstart Your New Business.

Are you seriously considering starting your own business? Well, then let me congratulate you as you have taken the biggest step to get a bit closer to your financial freedom. Here are the fast methods to keep in mind if you want to get started on the right foot:

1. What type of business? The first thing that you need to do is to determine what type of business you are going to open. When deciding, consider your passion or your interests and those things that you are an expert on. Based on research and personal experience, you'll have a great shot at succeeding in this endeavor if you like the business that you are running. You'll be excited to go to work everyday because you'll find it fun.

2. Online or offline? With the advent of the internet, you now have a choice aside from running a brick and mortar business. When deciding, write down and weigh all the pros and cons. Personally, I would recommend that you build an online business as it is not as costly as an offline business. In addition, it's also profitable because you'll be able to tap the global market.

3. Do your research. After knowing the type of business that you are going to open, the next thing that you need to do is to research. Read and learn as much as you can about the business. Take advantage of relevant seminars and training programs. If possible, work together with industry leaders to obtain valuable techniques and tips. The more information you gather, the better.

4. Competition analysis. Check your competition before you totally sink your teeth into this endeavor. What you'd like to happen is to build a business where you have little or no competition at all. Check the existing supply and demand within your target niche. If the demand is greater than the supply, this will tell you that you are on the right track as you've got great chances of making a sale.

5. Permits and licenses. Depending on the type of business that you would like to run, you maybe required to secure various permit and licenses. As this process may take some time, make sure that you put this on your priority list.

6. Marketing campaign. As early as possible, plan an aggressive and highly targeted marketing campaign. It pays to know ahead of time how you can promote your products and how you can connect with your target market as this is the key to boost your sales and revenue.

Do you want to learn more about how I do it? I have just completed a brand new free guide.

Download it free here: Internet Marketing

By Sean R Mize

Do you want to learn how to use articles like this to drive targeted traffic to your site?

Click here: Article Writing Guide

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Sean Mize teaches coaches, consultants, and small business owners how to package their knowledge and sell it in high priced coaching, consulting, and online class packages, and is an expert at using articles like this to drive traffic to his website, and has taught hundreds of clients his secrets. Sean says "If you have an existing marketable service or skill that you can teach others, I can teach you to package it into a high-priced class or coaching program, guaranteed"

Article Source: http://EzineArticles.com/?expert=Sean_R_Mize

A Guide to Modern Payment Solutions

By Gino Hitshopi

When it comes to the fluid movement of funds around the globe, there are a range of payment solutions that assist in making international commerce easier than ever. There are so many payment solutions, however, that it is difficult to decide which one is best, for which particular situation.

One of the best known payment solutions in the United Kingdom is the BACS system. This originally came about as an acronym of Banker's Automated Clearing Services. The process takes 3 days to complete; the 1st day is when the payment is entered into the system, the second day they are processed and on the third they are cleared. It is a very commonly used system, by which BACS Direct Debits and BACS Direct Credits are also implemented.

Faster Payments is a new payment solution recently introduced to the United Kingdom. As the first payments system introduced to the country for 20 years, it offers some advanced features; most notably that it can transfer funds almost instantaneously. It is set to make all manner of financial dealing considerably easier.

CHAPS is a payment solution introduced in 1984, standing for Clearing House Automated Payments System. At its inception it handled 7000 transfers a day, and by 2004 it handled a whopping 130,000 transfers - worth 300 billion pounds. 19 settlement banks in the UK use the system.

Apart from these longer established payments systems, there are a whole range of new payment solutions that make buying and selling much easier - particularly online. One of the best known is the Paypal system. Paypal came about in 2000 with the merger of Affinity and X.com. It was later acquired by eBay in October 2002.

It works by allowing payments to be made for all manner of goods and services, and is the most used method of payment on eBay (UK sellers must offer it). The person receiving funds has a small percentage based fee taken from the amount. There are thought to be 184 million accounts of which 73 million are active.

3V is another of various payment solutions that have gained prominence over recent years. It has been marketed by Alphyra and Permanent TSB - and operates in Ireland, Germany, Spain and the United Kingdom. It allows people to buy a voucher which in real terms is a VISA branded debit card. Anyone over the age of 16 can get one of these vouchers, which are essentially pre-paid credit cards.

They are only valid for cardholder-not-present purchase - such as those over the phone or the internet. They have the advantage of not requiring any credit checks, and so might be useful for those who have run up some bad debts, or who do not have a credit rating sufficient to get a standard credit card.

Gino Hitshopi is highly experienced in the realm of payment solutions, having worked in the banking industry for many years. For more information please visit: http://www.bemac.com/products/payment

Article Source: http://EzineArticles.com/?expert=Gino_Hitshopi

Diposkan oleh Article di 05:34

Indian SMEs Carving a Niche in Namibia

By David K Parks

Namibia's economy is characterised by its heavy dependence on mineral export earnings. One of the leading exporters of diamonds in the world, Namibia is also the fifth largest uranium producer. According to the World Economic Forum, Namibia is one of the top five competitive economies in Africa.

India maintains cordial trade relations with Namibia. India exports pharmaceuticals, transport equipment, fine chemicals, rubber, ferrous and non ferrous metals and cotton to Namibia. Alternately, Namibia exports pearls, metal ores, raw hides and skin to India.

Advantage Namibia

Over the years, this African country has implemented some important policies to promote bilateral trade and investment with India. Indian SMEs eyeing expansion abroad have thus found an attractive market for growth and expansion in Namibia. The strategic location of the country makes it an ideal gateway to the thriving South African market.

Namibia's business-friendly environment has attracted several foreign investors from across the world. Its Foreign Investment Act of 1993 provides equal opportunities of growth for foreign investors. The country also provides tax benefits and special incentives to promote foreign investment.

Sectors of growth

Prospective sectors for trade and investment in Namibia include gems and jewellery, leather, textiles, energy and telecommunications.

Namibia's burgeoning tourism industry is also an ideal segment for Investment Guide. In recent times, Namibia has become a popular tourist destination in Africa. The government of Namibia is thus focusing on upgrading its infrastructure to boost tourist inflows. Indian SME in the hospitality segment can make inroads into the industry by catering to the increasing demand for luxury hotels, spas and resorts in the country.

To increase economic cooperation between the two countries, the Indian government has initiated its 'Focus Africa' policy. It has also announced financial aid for Namibia through the recently formed association - New Partnership for Africa's Development (NEPAD).

The Indian government is also considering setting up SME clusters in Namibia to provide an impetus to Indian SMEs targeting Namibia for trade and investment. With total trade between India and Namibia growing at around 63% per annum1, Indian SMEs can look at making a mark in this African country in the near term.

1 Ministry of Commerce, Government of India

David Parks is a well known author and has written articles on IT Companies Directory B2B Portal, Home Appliances Manufacturers suppliers, Manufactures and many other subjects.

Article Source: http://EzineArticles.com/?expert=David_K_Parks

How to Use Barcodes to Track Your Inventory.

By Neil T Jones

Every business has a stock or inventory of goods and products that it deals with. Inventory management helps to ensure that the stocks maintained help in providing customers with the goods they ask for in the quickest time possible. This will help in enhancing customer satisfaction, but can work effectively only if the entrepreneur is able to predict his customer's future requirements. This can be done manually but would prove to be an extremely complicated system. An efficient system of inventory management helps all businesses give better service to their customers.

Tools of Inventory Management

Inventory management is possible by using various types of tools like mobile computers and barcode printers. These help improve the productivity levels of the labor force and extremely accurate records can be maintained. The tools are also inexpensive and easily usable to provide quick solutions to customer requirements. Efficiency is the buzzword of this system of inventory management.

Mobile Computers are useful for receiving orders from customers, tracking inventory and the final picking up of the required product. The problem solving process in inventory management gets easily with the aid of computers. On receiving an order, the computer is able to track all the relevant customer information and the product details for the order.

Barcode Printers bring far more accuracy into inventory management and are able to eradicate errors that may crop up at any step. The barcode printer is equipped to print clear and crisp receipts in no time. This facilitates the process of stock verification with the required accuracy.

Both mobile computers and barcode printers enhance levels of accuracy and efficiency by issuing receipts, labels and invoices, along with details about orders like delivery dates, all of which can be useful as reference tools. The label formats can be varied and sizes of barcodes can also be modified depending on the purpose they are supposed to be used for.

The information stored by the two is convenient for maintaining business efficiency and helps in providing customer support facilities. The coordination between the sections taking orders, dispatching the product and delivering it to the customer also becomes easier and can be easily monitored. Time saving is a natural consequence and a streamlined process can be put in place more easily.

Mobile computers and barcode printers as tools of inventory management fit in perfectly with technology-driven systems that allow precision, efficiency, time-saving and accuracy. In short, they assist in creating a smooth functioning base for businesses.

Asset Management and stock control is vital in making any business work today, any management team must know exactly how much stock is on hand and how much that stock is worth. Buying and selling stock is at the heart of most businesses today and is essentially how most make their money, having inaccurate stock figures can have a detrimental effect on your end of years figures.
Mobile computers are becoming more and more popular as they allow for more functionality than an ordinary barcode scanner and they will allow you to make changes to inventory and stock levels on fly.

Article Source: http://EzineArticles.com/?expert=Neil_T_Jones

Minority Business Grants - How to Get Free Government Money You Never Pay Back.

By Austin Warty

Starting a business is an exciting time, but lining up all of your financing can be stressful. With minority business grants, individuals who are starting a new business or expanding an existing business can obtain as much as $50,000 to help their business succeed. As a result, minority business owners can reduce their financial risk and give back to the community by launching a profitable venture that could provide jobs, attract competition and bring in more tax dollars to the state.

The biggest advantage of obtaining minority business grants over traditional loans is that the money that is obtained never has to be paid back. Grants are provided by government agencies and private foundations as tax-free cash awards with no repayment terms, regardless if your business succeeds or not. To get approved, however, you better be sure you have a solid business plan in mind that can turn a profit.

While minority business grants may only be one of the many financial resources you'll need to tap into in order to make your business a success, any money you can obtain through grant funds can help with future profits. Private funding and traditional venture capital, for example, often requires giving up some ownership of your business, which puts your profits and control of your company at risk.

But by searching and applying for free minority business grants, African American, Hispanic, and Asian American citizens can obtain the money they need to lease office space, hire employees, buy new equipment, or source their products. These programs are provided to help American small business succeed and should not be overlooked as a real opportunity to partner with the government and put your tax dollars to good use.

Get minority business grants and find the money you need to start a new business or expand your existing business. Apply and and you could you could have your cash grant in as little as 7 days.

=>> Grant for Minority Businesses

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Business Development - Uncover 5 Compelling Development Tips For Your Business

By Sean R Mize

Do you want to grow your business exponentially? Here's what you need to do:

1. Widen your reach. Don't be content with the number of your potential clients. Identify additional group of people who might be able to find your products and services appealing or useful without major development or design changes.

2. Keep yourself posted on the every-changing needs and demands of your customer base. Invest on research to discover new market pain/problem that can easily be converted to great product/service idea. However, make sure that your prospects are willing to spend their precious dimes on your new offerings before you go to the development and production stage.

3. Improve the quality of your products. Buyers simply love it when they get what they pay more. Continuously improve the quality of your offerings to make them more useful and more enticing to the eyes of your potential clients. You may include new features or make them more user-friendly.

4. Check on your competitors. Make it a habit to check on your competitors on a regular basis. As an entrepreneur, you need to know what these people are doing so you can easily device a plan on how you can outplay them.

5. Marketing strategy. Don't stop looking for ways on how you can effectively promote your products and services without burning your pockets. If you are operating online, I recommend that you use free but efficient online marketing tools that are guaranteed to help you capture the attention of your potential clients. These include article marketing, blogging, social media marketing, forum posting, email marketing, and ezine publishing.

Do you want to learn more about how I do it? I have just completed a brand new free guide. Download it free here: Internet Marketing

Do you want to learn how to use articles like this to drive targeted traffic to your site? Click here: Article Writing Guide

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Sean Mize teaches coaches, consultants, and small business owners how to package their knowledge and sell it in high priced coaching, consulting, and online class packages, and is an expert at using articles like this to drive traffic to his website, and has taught hundreds of clients his secrets. Sean says "If you have an existing marketable service or skill that you can teach others, I can teach you to package it into a high-priced class or coaching program, guaranteed"

Article Source: http://EzineArticles.com/?expert=Sean_R_Mize