Author: Complete Controller

For companies that work in development, contracting, manufacturing, or consulting, job costing is essential for the accounting process. It permits them to keep track of and estimate job costs, ensuring that they are profitable and delivered on time. It also facilitates effective project management, from direct new business proposals to project lifecycle management and closing.

Make sure your bill of materials is correct

Any business’s principal purpose is to sell and win new business. While the objectives are broad, every corporation confronts difficulties in pricing its products. Companies attempt to offer things at prices that customers will accept.

Many businesses use a work order costing method. This accounting technique makes it easier to determine how much material or component was utilized to make the final report. While this may appear to be a straightforward task, risks are involved. If the project is complicated, carefully controlling these risks is the best approach to assure anticipated rates of return through cost. Using executive costing in the firm is the appropriate solution to this problem, significantly if profit margins are not projected to be significant.

Cost Accounting’s Importance in Business

Controlling business operations without competent accounting is inconvenient. More sections, ranging from work in progress (WIP) reports to the cost of products sold reports, are necessary to account for each company’s activity. When such cost concerns develop, it is not always evident. More than one job may be running or operating simultaneously during this time; there’s a good chance you erroneously assigned the costs and discovered no problems with the costing. Furthermore, there may be a lack of proper cost control, which increases the risk of cost overruns and extra charges, threatening the capacity to assist the company in meeting its profit goals.

Advantages of Correct Job Cost Estimation

The lack of comprehensive and precise expense reporting is why businesses abandon accounting software like QuickBooks. It can appear tedious and pointless to set up and operate a work cost system. If you use accounting software, you must complete the entire procedure correctly to obtain the desired results; otherwise, it will be useless to your company’s financial success.

Financial stability of the company

When it comes to financial lenders, businesses must maintain a particular degree of creditworthiness. When it comes to linking operators and customers, companies must be able to track and predict project outcomes successfully. Organizations that cannot do so with confidence will find it more challenging to perform their duties efficiently.

Workplace administration

Business managers and executives can better track the success and effectiveness of their company operations using data from cost reports. They will be able to encourage staff to decrease costs and improve profits.

Workplace costs are actual

As a small business owner, the essential decision you will make is how to price work and services. The job costing process keeps track of the exact cost of providing a service or task so that the company may establish the right price to meet its gross margin goals. Because they have the following features, service organizations that use their employees’ work as a product can profit the most from labor costing:

• Payroll is a company’s most expensive expense.
• Time is easily squandered, and services are quickly terminated.
• They require real-time KPIs daily to make price decisions.

Support your claim

When it comes to legally enforceable claims, the labor cost can aid. The report must show the genuine worth of a recognized breed, and the foundation for such a claim emphasizes the need to account for business costs.

Increase the number of future jobs

Cost reports can provide valuable information to appraisers preparing a bid or performing work linked to pricing. These reports separate and distinguish the variable costs that need to be paid special attention to.

Payments are processed more quickly

Project-specific costs must be billed at or around the end of the project. If there is a wage gap, being willing to bill now ensures speedier payments.

Improved control of business operations

The company has an accurate cost plan for efficient bookkeeping using labor cost accounting. The work calculation fixes all violations and helps find promptly corrected errors. It can quickly identify inconsistencies and provide an opportunity to correct them. Each project is independent of other projects.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Can leadership be learned? Since ancient times, this topic has worried people, but there is still no clear answer to this question. Not so long ago, a girl named Sarah asked this question to members of one of the international HR groups on LinkedIn. The community exploded with comments, with people from worldwide sharing their thoughts and considerations for nearly two months. I can’t remember any other topic that generated so much interest, controversy, and emotion.

Opinions were divided almost in equal proportions as follows:

• Not! You cannot learn leadership; it is an innate quality. Leadership is in the DNA, in the human genes. You can see the leader in the sandbox. Leadership charisma is a gift from God, and someone who is deprived of this gift from birth will never succeed in becoming a leader.
• Yes! Everyone can learn leadership. Leadership is a skill. A good mentor or the American army will teach anyone leadership. (I involuntarily remembered Verochka from “Office Romance”: “Well, you understand, you can, of course, teach a hare to smoke. In principle, nothing is impossible”).

The truth is in the middle! Leadership is not a given. If a person initially has leadership potential, it can and should be developed. The Leadership Formula is Potential x Experience x Desire.

A leader has an eye for the future, who has his idea, and the determination and will to promote it, the one who is followed by people attracted by both the idea itself and the personality of the leader.

I don’t think that every child who masterfully commands their peers in the sandbox will inevitably mature into a true leader. Not every soldier succeeds in becoming a general. And the most exemplary mentor will not be able to fashion a leader if the source material is not suitable. Although, of course, to the passionate question of one of the supporters of the first approach, “Who, in your opinion, taught Alexander the Great?” adherents of the second point of view gave a worthy answer: “Aristotle taught Alexander.” The last issue of contention is closest to me: if a person has the correct inclinations, even if not ideal, and there is a desire to develop, then with the help of practice and training, he has a good chance of becoming a leader. Last year’s Oscar winner, The King’s Speech, is about just that.

What makes a true leader? Let’s look at the statements of famous people on this topic. “You must embody the change you want to bring about in the world” (Gandhi). “The leader sells hope” (Napoleon). “Dreamlike you will live forever” (Steve Jobs). “If you consider yourself a leader, look around and see how many people are following you” (Ambani).

One day, I came across a fascinating study on what competencies are least common in people and what competencies are critical to the success of top-level leaders. The rarest and most necessary qualities for success practically coincided. The list included vision, creativity, innovation, strategic thinking, the ability to work under uncertainty, and the ability to motivate a team.

In the 15th PwC CEO Survey of the World’s Largest Countries, two-thirds of CEOs said they intended to grow leaders within their companies rather than recruit them outside. Our company’s strategy also focuses on attracting young employees and developing future leaders from within. Most of PwC’s business partners came to our company during their student days. We build leadership qualities at all levels of the career ladder. In junior positions, leadership manifests itself in the initiative, active contribution to the team’s success, deepening expertise and sharing knowledge, and in senior positions, in creating new products and ideas and educating a new generation of “stars.” Partners often ask: “Is he a leader? And who did he raise?

Many people know the 70-20-10 development formula, according to which 10% of success comes from classical training, 20% of success depends on observation and mentoring, and the remaining 70% comes from experience and practice. When I first caught this approach, I thought the training department didn’t want to work. Then I remembered how I learned to drive a car: I took courses (10%) and rode with an instructor (20%), but the real skill appeared when I began to drive to and from work every day (70%).

When discussing leadership, the first thing that comes to mind is a strong-willed and tough authoritarian style, an “iron hand.” Pyotr Ustinov once said: “The qualities necessary for a leader … In German, a leader is a Fuhrer.” But still, I think that the Fuhrer, Stalin, and Ivan the Terrible do not correspond to the characteristics of authentic leaders of our time. Yes, they were powerful and decided the fate of countries and peoples, but what is their memory of them? What values did they profess? Would we like to live under such leaders? Do we want such a fate for our children? If not, we need to focus our efforts on developing leaders of a different quality.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Debit cards are registered payment and settlement plastic cards that depositors use to make non-cash payments for goods and services with reserves from their account to withdraw cash from an ATM. This payment instrument does not allow exceeding the number of funds on the card account.

There are no significant differences between the systems. The difference lies in the settlement currency, which matters if the purchase is made abroad. For Visa cards, the currency is US dollars. For MasterCard – euros in the EU countries. Differences may affect the conditions for making payments abroad, promotions, and bonuses from payment systems.

The national payment system (BELKART cards) uses the BELKART-Maestro system to pay for purchases abroad. The BELKART debit card also has advantages: it is cheaper to issue and maintain.

Plastic cards are divided into classes according to their functionality and security. The most common gradations: Standard, Classic, Gold, Platinum. The higher the course, the safer and more functional they are, for example, the ability to make remote payments and additional services (gifts from banks and their partners, various discounts). These gradations are not noticeable when paying for goods in stores, but the Standard level is not enough for payments on the Internet.

Using debit cards

In our country, the first debit cards began to appear in the 90s. Their goal was to reduce the share of cash turnover and provide the population with a convenient tool for mutual settlements.

Today, citizens use a debit card to:

• Replenish the account, withdraw, store, and accumulate cash.
• Pay for goods in retail stores and on the Internet through a personal statement.
• Receive wages, pension accruals, allowances, and scholarships.
• Transfer funds from your account to other accounts.
• Pay loans, utilities, etc.

If the card is lost, a person must contact the bank with a request to block it or do it on their own through their account. You can get a new card at the bank branch where the card account is opened. It will protect the user from attacks on his funds by scammers.

Benefits of having a debit card

• Convenience – no need to carry banknotes with you, which require a separate place, and the ability to make payments outside the country.
  • When saving time, you don’t have to look for the right amount and wait for the change when paying for a purchase.
• Efficiency – You can quickly receive money at any time.
• Security – no need to worry about the safety of money. When paying through a terminal or ATM, you will need a pin code known only to the owner.
• The possibility of accumulation – many banks charge% (interest) on the card account balance.
• Gifts – banks offer loyalty programs to customers (a receipt of cashback, overdraft services, online services, etc.).

The dissimilarity between a debit card and a credit card

Externally, plastic carriers almost do not differ from each other. Sometimes, you can find the inscription Debit or Credit on the front side. To avoid unpleasant surprises, users need to know the difference, such as creating debt or writing off commissions.

• Source of income: The debit card stores the plastic holder’s own money, which he earned or received as income. A credit card permits you to spend funds that the bank lends to the user under a signed agreement. In this case, the person must return the paid money within the prescribed period. If there is a delay, interest for use is charged at an increased rate.
• Getting cards: To apply for a credit card, you need to collect a package of documents. Debit cards are issued at the client’s request, which is a private person or an employer.
• Interest accrual: The credit card owner pays interest for the use of the loan provided by the bank. With a debit card, interest is accrued on the balance of money on the card account.
• Limit: A credit card has a credit limit or an overdraft line. Debit cardholders are limited to the amount that is available on the account.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

According to a study by Graydon, 40% of bankruptcies can be prevented. This is a shockingly high percentage, and therefore it is worth looking at how one can avoid bankruptcy. According to the research, several reasons lead to bankruptcy. In this blog, I discuss the three leading causes, and we look at what you can do in advance to prevent them. Thousands of companies go bankrupt every year. This can result from an economic crisis or a sharp decline in the market, but often the cause of the bankruptcy lies within the company itself.

Incompetent entrepreneurship (27%)

The most significant cause of bankruptcy is incompetent entrepreneurship. Insufficient knowledge of the entrepreneur, little experience, no diplomas, no thorough preliminary work, too locally focused or uncompetitive; there are many reasons why an entrepreneur cannot keep his head above water. Without explanation, most failing companies are younger than four years old, and most entrepreneurs that go bankrupt are younger than thirty-six. A necessary precaution is to seek advice in those areas where you fall short. However, this requires some degree of self-knowledge and self-reflection. It is also wise to talk to customers, suppliers, other entrepreneurs, and specialists in your field. As an entrepreneur, it is necessary always to remain alert. Last year, a successful product or business model may now be outdated due to new developments. Therefore, keep a close eye on what is happening in your field of work and make sure you keep up with all products. By continuing to innovate, you prevent your company from becoming obsolete, and you ensure the continuity of your company.

Lack of understanding of the market is a common reason companies go bankrupt. To keep your business running, you must understand your competitors, customers, and market trends. If you do not keep up and your competitor does, it can cost you a lot of customers and eventually even lead to bankruptcy.

The most significant cause of bankruptcy is incompetent entrepreneurship.

Business reasons (18%)

The leading cause here is poor administration and lack of effective debtor management†. In short: the customers do not pay or pay extremely late, and you do not notice it. To please customers, overdue payments are often covered with the cloak of love. However, it is essential to have a good insight into your customer’s creditworthiness and payment behavior. You can pick up signals from changes in payment behavior, which indicate that your customer is not doing well. In addition, part of the cause for this often lies with the entrepreneur himself. Send an invoice on time, charge interest on delinquent payments, and send reminders immediately when the payment term has expired; there is often still a world to win.

Many entrepreneurs know what their cost is. However, it is imperative to know that. This applies to companies that make or sell products, but certainly also to companies that provide services. If you do not see the cost price for your product or service, you also do not know to what extent your company is profitable. Without insight into your cost price, bankruptcy can happen without you noticing it.

Financing problems (15%)

Problems with financing often arise in companies that are already not doing so well. Banks have tightened the reins since the monetary crisis and want the extra security of the funding. When a company is already in trouble, not getting enough financing is often the death toll. An entrepreneur can prevent this by committing to the budget for a longer time in good times, ensuring there is always some room for setbacks, and delving into the different forms of financing. To increase as an entrepreneur, capital is needed. The bank often provides wealth in the form of a current account area. These are short-term debts. However, these debts are often used for far too long, so entrepreneurs must deal with high-interest rates and financing costs for a long time. Instead, you want to pay off your current account as quickly as possible.

Other causes of bankruptcies are still fraud (11%), personal circumstances (9%), competition (6%), and outdated business operations (5%). About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The Five Advantages of Franchise

Benefit1: Remain your boss!

Starting independent entrepreneurs often have a desire to run entirely independently. This is also possible when you join a franchise organization. You are your boss. As a professional and entrepreneur, you build up your clientele and make your own choices.

So, you remain your boss and become part of a greater whole. How about that? If you join a franchise organization, you benefit from the franchise organization’s brand, knowledge, and skills. You are often asked to go along with the image of the franchise organization. The typical appearance of you and the other professionals ensures recognizability among customers.

Benefit 2: Boot support

A franchise organization has many years of experience supporting them in starting their own business. As a result, she knows exactly which steps must be taken to successfully start up her own company. As a professional, you benefit from this. You will receive comprehensive support and advice when starting up your business.

Many franchise organizations also research the feasibility of the new business before starting a new business. Based on this research, the success of your new business is predicted. That way, you know a little bit about what to expect.

Benefit 3: National brand awareness of your company

Most franchise organizations are active nationwide because the affiliated companies are located throughout the country. This gives your company national name recognition.

All affiliated professionals benefit from national brand awareness through national marketing campaigns. The customers know the national marketing brand and see your company in their area. This creates recognition and trust for many people.

Benefit 4: Business support

Both the franchise organization and the professional strive for the same goal: to make the company successful. A franchise organization relies on the success of the affiliated companies. Without excellent and successful professionals, a franchise organization cannot be successful.

Franchise organizations can provide support in several ways. Below we describe three typical examples.

• Operational

management General operational management is one of how support is offered. General business operations mean everything that has to do with running a business successfully. Usually, these are things like sales and calculation. These parts of business management help you earn a good living from your work as a professional.

• Marketing

Earlier in this article, it was about national marketing that you can benefit from as a professional. In addition, franchise organizations also offer support for your marketing as a professional. Usually, you get ready-to-use tools that you can use for local marketing. This is intended to promote your business locally.

• Administration

An entrepreneur always has to do with keeping the administration. This while many (starting) entrepreneurs have had little experience with administration. Therefore, a franchisor can provide administrative support. This can be done, i.e., by taking care of the entire administration, a permanent partner with knowledge of the market, or by offering administrative tools suitable for you as an entrepreneur.

Benefit 5: Always be able to fall back on the bigger picture

Affiliated with a franchise organization, you are an independent entrepreneur, but not alone. You are part of a greater whole. You can use the knowledge and skills of the bigger picture. Because you are affiliated with a franchise organization, you have many fellow entrepreneurs who represent the same brand. This ensures that you can always fall back on these fellow entrepreneurs.

Extra Tips

SMS marketing

SMS is the most effective channel to employ if you are having a sale or want to update your clients about their orders. SMS ensures that your subscribers get and read your messages even when they are offline, thanks to its quick delivery and excellent engagement rates.

For your food business, SMS is an effortless way to get started. The channel is ideal for deals and discounts that you must complete within a specific time. To begin delivering SMS, install a Shopify SMS marketing tool like TxtCart.

Apart from time-sensitive offers, SMS promotions may upsell clients by suggesting things they are likely to buy based on recent purchase patterns.

Loyalty program

Loyalty programs are a tried-and-true Shopify marketing approach. Customers that remain loyal are worth ten times more than those who make their initial purchase. However, how can you persuade your clients to keep communicating with you?

Many food businesses use Shopify to set up loyalty programs to encourage customers to act and earn incentives. This immediate pleasure enables customers to keep connecting with the company to win additional incentives.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Traditionally, people have misunderstandings about mortgages, which make them suspicious when it decides. There are many unknown truths about mortgages, and learning them can benefit everyone. Five benefits of a long mortgage are as follows: 

Building Equity

This equity can be utilized for various purposes, such as weddings or education fees. As a result, consumers believe that a larger mortgage will reduce the equity they attempt to establish. On the other hand, a large mortgage loan can have a minor impact on a home’s overall equity. Consider a $50,000 down payment on a $400,000 property. The remaining $350,000 is the loan balance, which you must repay in 30 years at 4%. The ‘down payment’ represents the initial equity, and if the house’s value increases at 3% per year, it will be worth $722,444 in 20 years. Even if the person can only pay $200,000 of the $350,000 initial payment, this is a significant sum. The difference of $572,444 represents the house’s overall equity. This is accomplished by subtracting the residual loan amount ($150,000) from the home’s overall value. As can be seen, the size of the mortgage has no bearing. This means that you can develop equity regardless of the size of your mortgage.

Low-Interest Rate

Mortgages are one of the cheapest loans a person can get. However, some may argue that credit cards offer 0% interest for six months. But interest rates exceeded 18% in the first six months, and if someone wanted to borrow $100,000 at that high-interest rate and if they needed to repay, they would not be able to repay. It was paid over 30 years. You are only suitable for a loan if you can prove to your bank (or mortgage company) that you can repay the loan within the allotted time. The higher the bank’s confidence in an individual’s repayment ability, the lower the interest rate. In this case, the mortgage is the type of loan that has the least risk on the part of the bank. The bank can claim a mortgage if the borrower fails to repay the loan. So, interest rates are so low that it makes sense for people to take advantage of them.

Tax-Savings

Mortgage interest is beneficial for tax filing, as mortgage interest is tax-deductible. For example, interest paid up to $1 million to buy a home is tax-deductible. If the borrower buys a 5% mortgage with a 33% tax rate, the cost of the loan will be 3.35% tax. On the other hand, if he invests 5%, the profit will be taxed at 20%, and the profit after tax will be 4%. Therefore, the investment can return less than the amount paid by the loan, increasing the profitability of the loan.

Easier EMIs in long-run

For most borrowers, it can be challenging to pay a mortgage in the initial stages of the loan being first withdrawn. However, in the case of a fixed interest rate loan, the amount will be less than the monthly income. Such loans do not increase your monthly payments, but your income grows steadily. On the other hand, the value of a home can also increase significantly over time. Borrowers who buy a home with a single down payment may be missing this vast profit.

Allows Better Investments

Consider a scenario where a person buys a second home for money he received from the sale of the first home. For example, if he gets an amount of $300,000, should he consider spending the total amount to buy a new home for $500,000, or with a down payment of $50,000 and use the rest as an investment? Is it wise to do it? Most people will argue that spending the total amount is applicable. In this case, you only must repay $200,000, and it is easy to do. However, the second option is one that individuals need to consider if they want to build wealth eventually. By investing the remaining amount at a much higher interest rate, he can get enough income from his earnings and enjoy a more significant tax credit. With the tax savings thus saved, you can repay even large loans at slightly higher interest rates. Borrowing a considerable loan and using the return on investment to pay for EMI is always better than a small mortgage with no return on investment.

These are some ingenious reasons borrowers may benefit from a large mortgage. People usually ‘pity’ someone who has a large loan because PITI (Principal, Interest, Taxes, and Insurance) characterizes mortgages. On the other hand, these advantages may function as a wake-up call.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When advanced computers began to appear in the 1980s, and the prospect of the development of the Internet echoed in the air, many thought that digital technologies would make work easier, leaving more time for personal life.

After 20 years, not a single office could do without computers. The digital technology revolution has not just happened but triumphantly marched around the world, covering all areas of activity. But the next massive leap in computer technology was yet to come. Today, a person’s life in a developed society is unthinkable without a smartphone or other portable device that provides Internet access everywhere. And this means that your work accompanies you around at any time of the day, not just in the office for 8 hours a day. As a result, technology did not make life easier but only increased work productivity, distributing it in a thin layer over a sin. Home dinner must be combined with business correspondence with the chef and walking with a girl; you suddenly remember that you must check your e-mail urgently. And so, it becomes increasingly often until your life turns into routine maintenance of your career. Subsequently, this can lead to burnout and stress. You can avoid this if you find the right balance between work and personal life.

What does work-life balance mean?
The modern rhythm of life of many people looks like some interests are superimposed on the framework of other goods. You will not surprise anyone with the phrase “I’ll be late at work,” “let us meet next weekend. Otherwise, I am working this”, etc. There can be several explanations why a person imperceptibly refuses his personal life. Lack of money and career ambitions are one side of the matter, material and therefore more meaningful. But there is another – psychological. A forced workaholic can cause dissatisfaction with personal life. The cause and effect are flipped, but the negative impact on the person remains the same. Balance allows you to equally appreciate both components of life – work and pleasure, which not only do not mutually ban each other but bring additional meaning.

How important is the balance?
The fact is that high professional employment in our time is no longer perceived as a forced sacrifice. Violation of the balance between work and life in favor of the first is becoming increasingly popular, turning into a fashion trend that indicates the demand or success of a person. It has gotten to the fact that many perceive the intervention of work in personal life as the only way to secure a high working status and remain competitive in the eyes of the head. This opinion is erroneous and resembles an attempt to justify the inept distribution of working time or unwillingness to do something else. We do not intend to discredit overtime work as such. You are working above the norm. For example, at the rudimentary stage of a career, the initial stage of a business, or when managing a complex project. But when it becomes an endless series of filling in the gaps, we are talking more about the wrong approach. Your productivity in the workplace is unlikely to improve if you give yourself carte blanche to fix things at home. In addition, by reducing attention to other aspects of life, at some point, you may believe in their lesser significance. If you push into the background, say, the relationship with your girlfriend, then in return, you will receive a corresponding negative response. And this will be another erroneous argument for the importance of work over personal life.

Instead of personal life, we choose work. The catchphrase often justifies excessive devotion to one’s profession: “Choose a job you love, and you won’t have to work a day in your life.” This statement can be accepted as accurate, with the only amendment that the love of one’s work does not exclude the significance of everything else. If your favorite dish is fried chicken, then this does not mean that you should exclude all other foods from the diet.

Other parts of your life require just as much attention. It is great luck to find your favorite thing, for which, moreover, you can get good money. But think about whether you would agree to this if it deprived you of the other pleasures of life. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Having a business is a challenging task for every entrepreneur. We often choose to take responsibility for areas that are not exactly our skills out of a desire to oversee all parts of the firm or just to save money on operating expenditures.

We have seen how some folks have chosen to keep their own accounts on their own initiative. At first look, it appears that purchasing a reputable accounting software license and attending a brief course is all that is required. The reality, on the other hand, is different.

Accounting is a serious matter that should not be treated lightly. Although it is true that learning new skills is a valuable discipline to have when running a business and that accounting knowledge assists you in better understanding the company’s operations, some things must be managed by experts.

We present to you the five reasons to hire a trained accountant

You save time

It takes an average of 10 to 15 hours each week to do your own bookkeeping. Consider what you could accomplish in your company if you put those resources toward other strategic goals, such as cleaning up your organizational structure, building a marketing plan, and so on. This is the most crucial guideline in personal finance. You must spend smaller than you make and save the difference so that you can continue to exist and prosper when you are older and no longer have the opportunity or energy that you do now. You cannot attain significant financial success without some time if you do not follow this guideline, but you should never rely on your own. Your payment details are usually hidden in in-depth facts and other enclosed documents, making detailed cost analysis difficult and time-consuming unless you have a CPA.

Peace of mind

Accounting is much more than just filling out paperwork and spreadsheets. An accountant is a tax law specialist who can assist your firm remains on top of its tax obligations. This should be your ultimate priority if you do not already have an emergency fund in a savings account at your local bank. Peace is one of the most common means of resolving all of life’s issues. Without having mental peace, your life will fall apart, and everything will get out of your hand. So, if you are a successful businessperson but still cannot manage your life due to overburden, then it will be a shame.

Reliability

Having an accountant on staff helps you to have access to fast, accurate, and usable financial data to aid decision-making and control outcomes. Every month, the entrepreneur must get Financial Statements from their accountants, whether external or internal, to understand their company’s genuine financial status, economic results, and how their business’s flows are managed.

Professionalism

An accountant is required to stay current on tax issues, giving you the assurance that the individual in charge of the project has the information, skills, and talents necessary to best meet the client’s needs. You are engaged with the day-to-day activities of running your firm as a business owner. An accountant, on the other hand, can take a step back and objectively assess the broad picture to determine the best strategy for ensuring your company’s long-term viability.

The life of a business owner may be lonely, especially when you are faced with a mountain of invoices and receipts at the end of the month or year. It does not have to be this.

Ease of obtaining funding

Banks and credit institutions are two types of financial institutions. To be able to grant any credit, they typically want financial statements. You will be able to get up-to-date financial statements whenever you need them if you hire an accountant.

When I speak with business owners, they frequently express their desire to be able to quickly analyze the possible costs and effects of making a large office purchase or recruiting more personnel. Having an accountant as a financial advisor who can assist you with budgeting and cash flow monitoring on a regular basis will enable you to oversee any obstacles that arise in real-time.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

As an entrepreneur, you do most or even everything yourself, which makes it so nice that you understand your bookkeeping program inside and out. You cannot do bookkeeping easily if you do not understand the parts of the program.

You must be able to understand what you are doing anytime, anywhere. And only a few programs are capable of providing that accessibility.

Below is the only overview you will ever need as it provides the most accessible accounting programs of the moment. These programs are capable of everything you could ever need from an easy program.

Your bookkeeping becomes easier because you can pleasantly manage your books. And that will also make your life as an entrepreneur easier. Read on for the entire top five!

Easiest accounting program: Reeleezee

Reeleezee says it all with the name: Easy bookkeeping. As easy as Reeleezee is as an accounting program, it is not in the top three. And that is because it is a young player who has the right intentions but is not there yet.

Would I recommend Reeleezee right away? No, the other players in my top five are too good for that. No accounting program insists on the most accessible aspect that you would expect the absolute best from Reeleezee. Unfortunately, that is not the case, which causes some disappointment when I dive deeper into the accounting program.

In addition, Reeleezee is pricey compared to some alternatives. If you want to be able to book properly, you will lose at least $25 per month. And that is absurd for what you get.

Easiest accounting program: DigiBTW

DigiBTW manages all this a lot better. Although DigiBTW is not a very extensive accounting program, which you do not expect from this, it is a lot more for your money than Reeleezee.

What DigiBTW does well is that it is just incredibly easy. Super simple and super affordable, according to DigiBTW. And with € 10 per month, you really cannot complain. For this, you get a user-friendly accounting program that has no limitations. So, you get access to all functions of the program. You can count on the support of this company if you are unable to find a solution.

DigiVAT is a great stepping stone for those who want to be able to book easily and quickly. Not the most professional program, but a more than deserved fourth place. Especially for that $10 a month.

Easiest accounting program: Red tape

Rompslomp has scored several times in the top three of my most popular accounting lists this year. In my overview of accounting programs with the best value for money, it even has a top ranking. Not a deficient performance for a program that has only been around for some time. For now, Rompslomp is simply worth a top three listing. However, it would not surprise me if Rompslomp also ranks higher here within a year.

Red tape wants to make bookkeeping as pleasant as possible. It does this for as many branches as possible, whether that is the construction or design sector. Everything is kept simple so that you can easily find your way in the accounting program. This is for a very reasonable price of $10 per month. And if you want to do it entirely cheaply, you can opt for the free package. This package is equipped with a surprising number of functions that you do not have to pay for.

Easiest accounting program: Moneybird

Moneybird is, according to the latest figures, the most popular accounting program among sole traders. Entrepreneurs know where to find Moneybird because Moneybird is recommended first in many large Facebook groups. And Moneybird does not owe that to the fun name.

Everyone can use this accounting program. As a beginner, you can easily explore the accounting program by means of balloons, extensive manuals, and FAQs. An explanation can be read for each function so that you subconsciously learn how parts work. This strengthens your knowledge of the accounting program and accounting in general—quite an achievement from Moneybird.

Easiest Accounting Program: Tellow

Tellow shows that it can be done more beautifully and easier. After using Moneybird for the first time in 2015, I never expected that in 2020 there would be a more straightforward accounting program. Tellow has proven otherwise. Everything you would like to see from a sole proprietorship accounting program can be found in Tellow. Functions are excellently developed and beautifully and user-friendly designed.

If Moneybird is the obvious choice for Windows, surely Tellow must be for Apple. Everything feels intuitive and natural. This allows you to float through the functions, as it were, and your accounting is done in no time! 

The main reason Tellow earns the label of easiest accounting program is that it helps you with everything. Every aspect of your accounting is taken care of by Tellow. Without you distancing yourself from your accounting. You take every step yourself. This gives you complete control without investing a lot of time and energy in your accounting.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

True crypto enthusiasts regard Bitcoin as the money of the future, while skeptics predict it will inevitably crash. The debates are quite extensive, and there are conflicts of opinion even on many basic matters. Bitcoin, for example, appears to have been created as a form of payment in the past, but increasingly people today perceive Bitcoin as primarily a new investment category. People also disagree on whether Bitcoin will replace the current system or whether it will just be a new financial product alongside all the others.

For some, cryptocurrencies are an elusive form of payment. However, several currencies, including Bitcoin and Ethereum, have recently seen a surge in popularity. Companies are increasingly investing a portion of their money in cryptocurrencies. Bitcoin and other cryptocurrencies are no more frowned upon; in fact, the first e-sale of a property in the Netherlands was completed using Bitcoin. Is cryptocurrency, then, the currency of the future?

The Price of Cryptocurrency

Cryptocurrencies have been around for around ten years, although it has received greater attention in recent years. This is also because the market price of cryptocurrencies has shifted dramatically in a good direction around 2020. People were seeking new investment methods because of the recession and low-interest rates on savings accounts. Moreover, more prominent organizations’ faith in cryptocurrencies grew, driving the worth of the coins to skyrocket. Since the price of cryptocurrencies is determined by the value given to them. The trust in currencies increased significantly, and Bitcoin, Ethereum, and Ripple reached new highs earlier this year, resembling those seen earlier this year on their way to new highs. This boosted faith in these currencies even further.

Do not want to miss the boat

The concern as to whether cryptocurrencies will eventually replace traditional currencies is a major one. That will be something that lasts a long time. Nonetheless, there have been some exciting advancements in the area, and cryptocurrencies are becoming more widely accepted as legitimate money in the future.

The European Union, for instance, implemented several restrictions for the crypto industry in 2020. These restrictions ensure that future inventions and advances will be more readily adopted. Because of the rising confidence in crypto technology and its improved security, the future of cryptocurrencies appears bright.

Would you like to avoid missing Bitcoin, Ripple, and other crypto coins? After that, you may create a new account with a dealer like Litebit. After that, you can invest a portion of your wealth or savings that you are willing to invest in cryptocurrencies. Remember that these are highly volatile currencies. As quickly as the coins increase, they could also fall precipitously due to negative news.

As a result, ensure that you may lose the wealth you spend in terms of investing and that you are up to date on any crypto-related events.

Can you borrow in Bitcoin?

Bitcoin is difficult to utilize because it has zero-sum game characteristics. You can lend and deposit simultaneously with ordinary money, besides paying. In the case of Bitcoin, the return, whether positive or negative, is ultimately determined by the Bitcoin price. Therefore, the fortune of someone who takes out a Bitcoin loan is, by definition, inverted to that of the investor. People who bought Bitcoin at the start of 2020 and can collect their earnings at a much higher price are receiving a lot of attention. However, someone who would have taken out a home loan in Bitcoin, for example, has seen the value of his debt in ordinary money skyrocket and is very certainly insolvent. I am not aware of how many individuals have taken out a Bitcoin loan.

The underlying issue is that there is no core Bitcoin economy in which all revenue and costs are represented in Bitcoin. Ethereum (or any other crypto, for this kind of matter) can only do a poor job of fulfilling the role of money if people’s daily income and spending are in traditional money.

Extra tip

However, Bitcoin does serve as an asset, although one with a significant level of risk owing to its tremendous volatility. As a result, the most significant probable function for Bitcoin in the upcoming financial system appears to be that of an asset.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.