(Add to Favorites | View All Articles | Resource Directory)
|
|
|
Debit and ATM Card Advice for Small Businesses
Your business account comes with an ATM, Debit card. Pick a really secret pin number. Don't give it to anyone even in an emergency. Make sure you record withdrawals. If you have a bookkeeper paying your bills for you, be careful because they won't know that you took out money. They will be upset and so will you and your vendors if they mistakenly write a bad check to pay a bill because you forgot to tell them of your numerous unrecorded withdrawals from the ATM machine. Originally ATM cards had a maximum of $300.00 per 24-hour period, suppose this was incase you developed a drug habit and take out the maximum $300.00 per night in cash or incase it was stolen to minimize risk on your account. Most business accounts do allow up to $1000.00 per 24-hour period now, but most likely you will have to ask for it. If you business might need this it is a good idea to have. It is not wise to co-mingle funds such as taking $60.00 out of your business account via your local ATM to take your girl friends out to dinner. If you need $60.00 in cash then take it out of your weekly paycheck to yourself or even out of your daily cash before you put it into your bank account. Be sure however to report it as income because that's the honest thing to do. If not you have created a nightmare for your accountant and put up red flags during your tax form preparation. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
MORE RESOURCES: News provided by Yahoo! News and Google News Small business owners discuss lending problems with Patty Murray Small Business Jobs Bill: No 'Itty Bitty' Thing Health reform's impact on small biz - Marketplace (blog) Small Business Administration moves Gulf Shores, Orange Beach service center What's up with small-biz non-hiring? - OCRegister Small Business Success Story: Accounting Small business tax workshop Sept. 16 |
|
|
|
RELATED ARTICLES
How To Ruin Your Business If you're like the rest of us, you've spent a lot of time trying different things to make your online business come together. There are countless methods of conducting a viable marketing career, but there are also as many ways to destroy one as well. Modern Clear Coats, Auto Detailers and visit to Lexus of North America We visited Lexus USA, home of the Lexus North America Head Quarters to help us better understand the latest innovations in automotive clear coast. As professional auto detailers we must know our customers cars and finishes. There Are No Dumb Business Questions, Not! Q: I'm curious. What is the dumbest business question you've ever been asked? -- Norris W. Restaurant Operators - What Skills do you Need A tongue-in-cheek look at the skills required to operate a restaurant but?on he whole they come pretty close to the truth.People Skills, You need to be good with people, because you will have different customers almost every day, you will have repeat customers who have higher expectations, a high-maintenance shift-based staff to manage, suppliers who won't always meet your expectations or time frames and creditors who want their money now. Tell people why they should do business with you Here's why 'WHY' is such a profit-making marketing trigger."Stop taking two and three plates of food," my mother said to me angrily. 11 Things Small Business Owners Can Learn From Tiger 1. There Are No "gimmes" - They count two-foot putts on the PGA Tour. Getting around to doing the administrative work You've been meaning to tend to the administration part of your business, that is, the growing list of things to do that relates to your small business. You've shoved all other appointments aside and starts getting down to working on the nitty gritty details, you're ready to go all out and tick everything on the list off! But where in the world is the list?The Administration part of the small business may seem simple but unless one gets down to doing it and doing it right, nothing else will get done. Everything I Need to Know About Business I Learned From My Nametag So there I was - sitting in the audience of an on-campus seminar. Surrounding me sat hundreds of fellow students; each of us wearing one of those little, handwritten, adhesive nametags. Writing a business plan - simplified Writing a business plan for your Solo Entrepreneur business doesn't have to be a daunting project. If you can answer 10 straightforward questions about your business, you can be ready to go. Survival Tips For Your Small Business No matter type of business you operate you've got to know how to keep your business alive during economic recessions. Anytime the cash flow in a business, large or small, starts to tighten up, the money management of that business has to be run as a "tight ship. Why You Need A Virtual Assistant How much is your time really worth? Is it worth 50 an hour or 100 an hour? YOUR time is most valuable because it is your responsibility to generate new revenue for your business. Doing small and often trivial admin chores yourself does not really add value to your business and the sensible solution is to delegate those less profitable tasks by hiring someone more than capable of carrying them out, but who's hourly rate is somewhat less than your real financial worth. Promote Yourself More Successfully One of the great challenges for independent professionals and small businesses, especially when starting out, is generating visibility to ultimately lead to generating sales.One of the specific challenges, I have found, is knowing what to say about yourself and your operations and services when asked "so what do you do?"? Have you ever stumbled over your words when asked what you do?? Have you ever received the response, "Oh, I see", followed by silence?? Do you ever feel as though you do not know what to say about yourself?I am reminded of the 'elevator speech theory' (I do not know to whom to attribute its invention), which simply poses "if you were in a lift that opens on the tenth floor and in walks Bill Gates who asks what you do - what would you say, and you have only until the elevator gets to the bottom?"I have personally struggled with this at times, and equally have found that when I get it right, results flow - which initially could be as simple yet important of getting more time to converse with the person asking the question of you. Small Business and Over Regulation Over regulation of small business is so intense it is getting hard to make a buck.For my example of the type of over regulation in small business, which turns the American Dream into an American Nightmare, I will use a simple business like a car wash. Predicting Business Retirement Satisfaction for Business Owners Most business owners do not think of selling their companies as "retiring". Instead, these vital entrepreneurs see selling their business as a "transition. How to Promote Your Business by Entering Contests You are probably hard at work promoting your business (and if you're not, you should be!), but if you haven't submitted your profile to any contests yet, you may be missing a golden opportunity.Receiving an award for your business can increase your company's credibility. What Happened to the Money and Freedom? Ask anyone trapped in a cubical about their entrepreneurial dream and they will tell you, "I want to own my own business. I'll make more and have more time. Boat Cleaning Business Case Study: Entrepreneurship 101 How do marine type businesses start? Have you ever thought of turning a hobby into a business? Let me tell you a story of how I got into the Boat Detailing Business when I started our in the car cleaning business which grew into a franchise system. So often we read in business books to study markets and develop business plans when in reality it does not exactly work that way. Self-Employment: Managing Your Money: Tips for Living with a Fluctuating Cash Flow (Part One) The way you manage your money is one of the first things you'll change when you move from employment to self-employment.You are moving from an environment where you received income in equal amounts at set intervals to one where your income fluctuates. Five Quick Ways to Speed Up Cash Flow At one point or another, almost every business runs short of cash. Whether due to normal fluctuations in demand or an unexpected decline in sales, cash shortfalls are the bane of every company, and are responsible for sleepless nights for many business owners. 5 Tips for Hiring a GREAT Bookkeeper Bookkeeping?the "dreaded" word is something we all have to worry about. Business owners rarely go into business to deal with the financial aspects of running a business.
|
| home | site map | articles |
| © 2006 |