Accounting Success Tips For Start Ups}

Submitted by: Peter Holtz, CPA

When starting up a small business, even if solely owned and home based, requires good accounting to keep it going and flourishing. Here are some success tips that can be valuable for startup business owners and entrepreneurs:

Choosing the right entity

There are various legal entities to choose from. The structure you choose will depend on various factors such as if you will have:

Partners or investors

Employees

Independent contractors

Substantial customers with big orders

The need to protect intellectual property and personal investments

Exposure to any lawsuits

There are tax and legal benefits and drawbacks to each of the entities so making the right choice at the beginning is very important.

Record keeping

Why bother to keep records? Is it in order to comply with the tax requirements, or is it so you know where you stand financially? The answer is – It is for both. A separate accounting system has to be set for the business. There are various accounting software programs that can help you do so very efficiently. You should consult with a competent CPA before you choose a program to work with. Inputting records might have to be done on a daily or a weekly basis, depending on the volume of transactions.

Banking

Set up a separate bank account for your business, even if you are working alone out of your home. It will help you manage your cash flow more easily and the records will be separate from your personal ones. Choose a bank that is conveniently located. Some banks have computerized check deposits for a minimal fee that could save you time.

It is important to have separate credit cards for the business and do not mix them up with your personal ones. This will simplify the record keeping. If you do happen to make a mistake and use a business credit card to pay a personal expense, immediately reimburse the amount.

Billing and collecting

Make sure you are careful about extending credit to customers. Your cash flow is your life blood and depending on the industry you operate it in, try not to extend the payment term to more than 30 days.

Your invoices should go out immediately so your customers can pay them as soon as possible. If you can manage to get prepayment before the work is done or the shipment delivered, that is even better.

When a customer is regularly late in paying his bills, consider cutting him or her off. That is very hard to do, especially if this customer brings in a lot of business, but it may be a decision that could save you time and money in the long run. Charge late fees to make up for the lost time and interest and if they still dont pay, hand the matter to a collection agency. It would cost you a few dollars, but on the other hand the agency reports to the credit bureaus and will affect the customers credit score. Have a policy and a procedure in place you can refer to when you have this kind of problems

Payroll

When you hire workers, know the tax code regarding employment. It might be smart to outsource payroll. Penalties and interest can be steep for late filing of your payroll tax returns and remitting the appropriate taxes to the various authorities.

About the Author: Peter Holtz, CPA specializes in providing accounting and tax services to small business owners and professional practices in Stockton, CA. For more information, go here:

financialperformancecenter.com

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Benefits Of Using The Right Sports Management Software}

Benefits of Using the Right Sports Management Software

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srininvas siddireddyA sports club should focus on what matters most, that is bringing the best sports training to all the players and help the players to develop with memorable positive experiences. To achieve this, they need to handle a lots of operations and in this process they could easily get lost in the paperwork, fragmented data in multiple systems, disconnected staff members, out of control email chains, missed payments, among other problems. So they need a right sports management platform to manage, monitor, schedule, communicate and finally serve their members with the best possible service.468x60fA right sports management software saves time, improves player registrations and revenues, allows to manage teams and schedules easily. Also allows efficient management of players, staff, fields, documents and finally allows to delivers services as promised.Here is a quick summary of the benefits of using the right sports management softwareImprove Program RegistrationsSave Time & Stay OrganizedImprove RevenuesConvenience with Online and Mobile AccessSecured Data and Secure AccessImproved Communication and Member SatisfactionSupport to Scale and GrowNo Need for IT DepartmentHelp and Support when neededHere are more details on the benefits in each area.Player Registrations: It is easy and efficient to process registrations with a right sports management platform. For players and parents it would literally save time by eliminating unnecessary paperwork. They don’t have to travel or wait on the phone for hours. The registration status and other relevant details will be made available immediately. This allows clubs to control the registration process more tightly to achieve the desired results, including recruiting right players, improving registrations and revenues.Payments Processing: A right sports management software allows to streamline payment collection, upto date record keeping, payment reports and payment reminders. Also allows to minimize errors and automate alerts. Helps to generate financial reports easily and efficiently. For added convenience, allows parents and players to pay online using credit cards or bank accounts. This allows clubs to collect payments early, avoid late and missed payments, which will result in improved revenues.Team management: A right sports management software allows to create and manage teams from the program registrations with right roles assigned to each team member. All team members are notified immediately and also allow to login into their team portal and manage their team independently. Allows to add and manage schedules both by the team staff or club staff. Helps to bring all the team members on to same page quickly. At the end, this will simplify team management and communication, which leads to better teamwork and success.A right sports management software helps to manage fields efficiently with the teams without any conflicts or confusion. For the practice and matches, right field information will be included with the schedule. You can well imagine the sheer confusion that could arise with the misinformation on the fields. Extra information on the fields including pictures, map, and parking details can be included as part of the field. Club staff can also manage the procurement and allocation of the fields. Advanced sports management platforms also allows coaches and other members to request a reservation for the field, which the club staff can approve or deny.A right sports management software allows to manage club staff and players efficiently. Also empowers club members with role based access to right resources at the right time. Club staff can manage and assign right roles for various personnel including players, parents, coaches, volunteers, club officers and staff members.Advanced sports management platforms allow to visualize their data, so they can find trends and problems which allows to fix any issues before they become a big problem.Sports management software allows efficient communication between all the parties including organization staff, parents, players, coaches, and volunteer on channels including emails, social media, online messages, text messages, and mobile notifications.On top of club management and team management, a good sports management software also helps with player development. The progress of each athlete could be tracked and monitored almost on a daily basis. Allows players to track their performance and also compare with peers. Allows players to build their profile which can be shared with coaches or scouts. Also allows athletes to manage their complete schedule, and even build their sports network. At the end, helps athletes to bring best out them.Convenience and security usually does not go together. But a right sports management platform provides convenient online and mobile access to the system and at the same time takes care of security with right security measures in place which will protect the data and prohibits any unauthorized access.Most sports management platforms offers plans to start slow and then allows you to grow as your club grows. They also provide self service based help center and also phone and email based customer support to address any issues with their platform.A right sports management platform like THAPOS is a huge cost saver, along with time and energy. It will certainly help you and make you look good.

Srinivas Siddireddy, Founder & CEO of Thapos Inc. Thapos is a sports management platform for sports clubs and leagues. Thapos helps to manage the website, registrations, payment processing, schedules, teams, and athletes. Thapos is a one-stop solution for clubs/leagues, teams, and players.

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Secure Disk Erasure Made Easy With Kill Disk Desktop}

Secure Disk Erasure Made Easy with KillDisk Desktop

by

James Vaughn

Every day people all over the world fall victim to identity theft and other fraudulent activities that involve a criminal gaining access to their personal and/or financial information. It’s an increasingly common concern in the digital age, but it’s also one that a lot of home and business users alike don’t pay enough attention to. One of the most common mistakes that people make is failing to properly wipe their digital storage devices before donating or selling them. Emptying the Recycle Bin in Windows, for example, is not going to securely get rid of any data, and just about any third-party data recovery utility will be able to retrieve it intact, particularly if the contents of the disk are not extensively modified beforehand. What you need is a way to securely erase the data to make sure that it’s never going to be retrievable.

Businesses and consumers alike often simply discard old hardware without a second thought, but no one should ever do so until any data-bearing components, such as hard drives, flash drives or solid state drives, have been securely wiped. From a more technical perspective, the process simply involves overwriting the original content, including space marked by the file system as available or unoccupied, with zeros. This is where Active@ KillDisk Desktop comes in, a complete tool for securely purging all data on any writable digital storage device. This innovative and easy-to-use tool supports all hard disks and solid state drives, USB flash drives and external USB or eSATA disks, regardless of the file system currently used on them. In all cases, it provides industrial-grade data sanitization.

Ideal for Business UsersActive@ KillDisk Desktop is a hardware solution designed with demanding business users in mind who often work with multiple terabytes of data on a regular basis, spanning over lots of different physical storage devices. For example, it is ideal for those using storage area networks or network-attached storage devices featuring multiple hard disks installed. It allows you to automatically erase up to five disks at the same time simply by plugging them in to the data erasure workstation. A certification can also be printed for additional peace of mind. The program supports many data security standards, including the U.S. DoD erasure. Jobs are also compliant with the HIPAA standard. In layman’s terms, once a disk has been erased using this powerful program, it’s never coming back. No exceptions.Powered by the latest Intel Atom processors, the compact system runs cool and quiet, drawing minimal power in the process. It’s designed to get the job done quickly and efficiently while issuing all the necessary documentation you need to be sure that the data is gone. No matter how many hard disks you have and how much data is stored on them, Active@ KillDisk Desktop offers the ultimate digitalized version of a paper shredder for businesses of all sizes. It’s also exceptionally easy to use, and it’s shipped as a complete system that operates completely independently of your other devices. Find out more by pointing your browser to killdisk.com/killdesk.htm

James Vaughn is the administrator of a large IT department where secure disposal of digital data is a regular part of the hardware deprecation routine.

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