Author: Jennifer Brazer

The accounting and bookkeeping structure of a company is an essential component for business operations, and there are many functions that an accountant and bookkeeper share. One of the main functions of a general accountant and bookkeeper involves collecting and maintaining financial data and its relationship with a company and the consumer.  Accounting & bookkeeping in a glance The accountant ensures that financial records are prepared in accordance with legal and accepted procedures and corporate-level policies. The financial information of any organization must be maintained since it is a key component used in the operation and management of any business. Accounting is a much broader concept that entails additional bookkeeping, analysis, and interpretation of information provided by accounting books and financial statements, information that has been possible to generate thanks to the art of bookkeeping.

With the appearance of accounting software, bookkeeping seems to have lost its validity since the program is responsible for delivering complete information ready to be interpreted and analyzed.  Accounting is a tool for analyzing and interpreting company information. Each day becomes more important at the senior management level since accounting is the basis on which administrators must make economic and financial decisions.

  Importance of accounting and bookkeeping The true added value of accounting and bookkeeping revolve precisely around the diagnosis that is presented to the company of its economic and financial reality and the projections and trends that can be identified based on that reality. This also offers the possibility of identifying shortcomings and opportunities and formulating appropriate strategies for one situation or another. Accounting tells the company how it has been financially, how it is currently, and how it will be if trends continue.  However, it is not enough to have that knowledge, but these values ​​must be interpreted in accordance with the reality of the economy.  This means that accounting should rely on other branches of economic sciences to achieve its objective, becoming a managerial tool for the company.

Correlation with other departments

You cannot make decisions without knowing sales and their behavior, the behavior of production or marketing costs, the profile and behavior of customers and suppliers, or their own employees; fortunately, all that can be extracted with accounting.  If you do not know the profit margin and the level of resource consumption in each area of the company and of each product, then you cannot decide either which strategies to follow, nor can you define where to expand, what to produce, and stop producing, etc. 

Bookkeeping and its importance

The bookkeeper, or technical accountants, plays an important role in many companies since they oversee maintaining the accounting books; therefore, they have the responsibility to register all the corporation’s financial activities.  Their work is of value to all types of companies, whether public or private, since these individuals monitor the flow of money entering and leaving the corporation. Large companies tend to have more than one Book Holder in their staff, while the rest prefer to have only one professional in charge or prefer to outsource to a specialized accounting firm.  Bookkeepers produce financial reports based on information collected from the books they carry. Based on them, the shareholders, managers, and accountants verify the company’s financial status and determine the most suitable way to proceed in future projects.

Role of bookkeepers

Bookkeepers manage and control the accounting books of the company by establishing parameters for those books. They also work to balance them, and they are trained to take advantage of programs and systems capable of simplifying work. They are called to review and record income and activities. 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

Everyone in this world wishes to achieve financial success. It is a concept that holds different meanings for every individual. For one, it could be to pay off the student loan successfully, or it could be owning their dream house or buying the perfect car. It all depends upon one’s perspective.

No matter what financial success means for anyone, they will have to walk through the same path. Having organized finances is the only path that leads one to their financial goals. Not only does it make it easy for people to achieve their financial goals, but it also provides a clear picture of the efforts required.

People do not understand, but the primary source of their financial problems arises due to disorganized finances.

This article covers the small steps that can help people improve their finances and organize them to bring them closer to their financial goals!

Creating a budget:

The secret of successful money management is creating and sticking to a strict budget. Budgeting is a common practice among the wealthiest people. Overspending and not keeping track of the expenses is one of the biggest financial mistakes. People can start by calculating the total monthly income and keeping a record of all the expenses, irrespective of their negligible. It must all include all the monthly payments for repaying the loan. It provides a clear picture of where one is spending the earnings, helping people decide which expenses to cut off.

Knowing the net worth:

Individuals can calculate their net worth by subtracting all the essential expenses, including monthly debt payments, from the total assets. If the number is positive, it is an indication that a person is doing well financially. If the number is negative, it is a sign that they are overspending and need to deal with their finance smartly.

Keeping the credit score in check:

Credit score and history hold a significant position in one’s finances. The credit score depends upon the history of all the debts, payments, and interest on loan payments. It helps in determining one’s creditworthiness. A high credit score is an indication that a person is doing well. The credit score can impact an individual’s chances of getting loans and determining the monthly payments.

Setting monthly savings account:

Saving is an essential step when it comes to achieving financial success. People can set a monthly savings account. Every month a fixed amount from the income will be transferred to the savings account. An individual can try to transfer fixed monthly amounts or can vary the amounts based on their expenses. A person must develop a habit of transferring an amount every month into a savings account.  

Make debt payments on time:

It is important to make debt payments regularly. Sometimes, it becomes difficult to make a payment; people should try to pay the minimum amount in such cases. Not paying adds to the existing balance and creates a difficult situation. Being punctual with debt payments helps in maintaining financial stability.

Saving for retirement:

One of the most determinative factors in reaching financial success is to save for retirement. Saving for retirement provides people with peace of mind. People who fail to save for their retirement end up in a bad financial state and are drowning in debt even in their last days.

Reviewing account beneficiaries:

Account beneficiaries are the people who will get financial benefits from insurance policies. Moreover, it will be these people who will get access to the accounts. These names should be reviewed regularly, especially if an individual goes through a major life event such as marriage or childbirth.

Using employer benefits:

Many companies offer 401(K) benefits and fund matching to their employees. It is a smart move to use these benefits as they can serve as extra wealth-building tools.

Reviewing the W-4:

The W-4 form is an essential document, and it is something many people do not realize. The W-4 form gives details about how much an employer withholds for taxes. It is a document that is very beneficial at the time when people get tax refunds.

Buying life insurance:

Buying life insurance is important for people who have dependent family members. It is a smart investment that can help one’s family if they die an unexpected death. It is something that people must do for the financial security of their loved ones when they are not around anymore.

Social security:

Social security benefits help in reducing the load of saving for retirement. It is not a wise choice to depend on these benefits because the element of uncertainty surrounds it. Before retirement, these benefits can increase, drop, and even get eliminated. But keeping a check on it will provide a sense of financial security.

Setting yearly financial goals:

Working towards a lot of financial goals paves the way for financial chaos. It is better to work for a single goal at one time. The smartest approach is to set yearly goals. It reduces the overall financial loads and makes the efforts result-oriented.

Take a short break from spending:

Cutting down the costs is tough and challenging. Trying to take a short break from spending can benefit people in numerous ways. They help in stabilizing the expenses and accelerates the efforts to maintain a balanced financial situation. People should try to trim their daily expenses, and they will be surprised to see the results.

Emergency funds:

No one can know what the future holds for them. But to stay prepared for the worst is a genius move. Before starting any other savings, it is best to save for an emergency fund. The ideal amount is to save 60% of one’s annual income for an emergency. Once an individual has saved the amount, they can start saving or investing in other places.

Planning and strategizing:

Planning is the most important and fundamentals step for anyone who wishes to reach financial success. Planning helps in improving finances. It will also provide a clear image of where they stand financially. Smart planning and strategizing boasts numerous benefits for people who wish to improve their finances.

People can incorporate these small steps into their financials, and they will observe a stable situation. By using all these, an individual can easily reach their financial goals at a faster pace. Moreover, it can help them set newer goals and build a financially stable life for themselves and their loved ones!

 

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

We all face changes financially; it is no news. Especially with the recent COVID-19 pandemic. More and more of us have had to face financial struggles, including finding interesting and new ways to earn extra income to cover our financial responsibilities. Your business may make a lot of profit for one month and go crashing down the other. Such is life. In such cases, people tend to find ways to make quick money with little resources. Sometimes you find ways to earn money in many creative ways. When you find yourself without or less money, then you should give one of these a shot.

Sell jellyfish!

Jellyfish is a weird way to make money. Jellyfish are not considered the cuddliest pet, but they are used for selling and making money. The least-exclusive kit on JellyFishArt.com costs $330. In that, a customer gets one jellyfish, a little tank, and enough food to last for three months. It may seem odd, but it will bring in some extra income and that is the point, right?

You can win cash as an eater

There are many contests on TV, many I am sure you have heard of and/or watched at some point, that gives you money when you win their eating contest. If you are a big eater, you may want to go to that type of contest. Firstly, look and check out the list of competitive eaters on Wikipedia or upcoming events on MajorLeagueEating.com. in that type of competition, many people have won more than $100,000 as prize money. However, be sure to prepare yourself because professional eaters that participate in these contests take it very seriously and can consume a crazy amount of food.

Playing the lottery

Playing to Lotto. It is a weird, amazing, and a game of chance in possibly winning an incredible amount of money. Many people happily take the chance because they consider the jackpot to be an amount of money that could make you rich. An amount that could set you up for the “good life”. However, you must realize the odds of winning the lottery and realize this is a game of luck. Also, there are ways to play a lottery with better chances of winning but also smaller jackpots. There are many free online apps like the app called Lucktastic. You will try free scratching on that app. They provide you a new variety of digital scratch-off tickets every day. There is a range of winning about 1 dollar to $10,00. 

You can sell your trash! 

Americans throw away about 266 million tons of waste every year; then, it turns into money for you to collect. In recent years, “dumpster diving” became so popular because it is a way to collect items of value and sell them to make money. So essentially instead of losing some profit toward a product, you get to keep all the money you make. You may think that it’s gross and there is no possible way that you can make enough money from the valuable things your find in the trash, but you would be wrong. Americans throw out a lot of valuable things, very often never used or opened. Your empty wine bottles, or your old magazines, things that could be sold online and earn money.

Use online banking!

Online banking services are easier to use than traditional banks. Even better they are also accessible, cheaper, and have better incentives.

Our one of favorites, Aspiration, offers that you will pay no monthly fees, and you will earn on your savings up to 2.00%. You can get access to an online account for saving and spending. You can easily access your money when you need it. Your spending account comes with a debit card that earns 5% cashback plus free ATMs. 

Now, you can easily make an online account keen on money-saving and using your money to work.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

Where the market is flourishing or facing a downfall, a good trader knows how to make a profit in it. Even in a bear market, a good trader generates profit every day. Trading is an art that can only be learned by making mistakes. Therefore, this article is lining the three most common mistakes that investors or traders make.

1. No Trading Plan: Many investors jump in with their investments without any specific investment plan. They follow the other traders or investors or invest solely based on their recent FOMO trend. All the investors talk about the opportunity in which they should have invested three to four years ago, including cryptocurrency. However, making the decision on which commodity to invest in next is a tough decision. Since no one knows the future, technical and fundamental analysis is done to predict the market’s next move. Jumping into a market, an investor must lay out an investing plan first. It will help the investor make a wise decision and hold their investment for a good future instead of making the wrong investments.
2. The Problem with Stop Loss: One of the biggest mistakes an investor can make is not to put a stop loss on his trades. Whether the position is long or short, the trader must stop losing to save himself from any unpredicted situation. The trader might sometimes put the stop loss and then cancel it in the hope of seeing his portfolio grow just before it falls. Such greed destroys all the profit, snatching the capital investment of the trader too.
3. Following the Herd: The most common mistake found in the new investors or traders is that they invest in holding the short positions into the stocks that have already risen to their point or are about to turn around. They don’t have a good or credible understanding of the market regarding when to invest and when to take out the investments. Experienced traders know the strategy of taking out the investments when the stock gets too crowded. However, new investors fail to realize the time when the investments should be taken out. They hold a long position instead of getting a larger amount of profit. It is always advised to invest only when the profit or the value of the stock is growing. As soon as you see a lot of crowd gathering in the pool, take it all out! That is the time when big fish in the sea move to another one.
4. Wanting all of it at once: One of the biggest mistakes an investor can make is becoming greedy for the returns and wanting all of it at once. The essential virtue of an investor is patience. An investor should be anything but impatient. Becoming greedy and wanting quick and big sums of returns can make an investor more vulnerable to making wrong decisions and causing a loss in the long run in exchange for a little short-term profit and return. Greed can decrease the financial visibility of an investor and their ability to project profit and loss. There are two common approaches in an investment market, the bull and the bear approach. It is said that investors with either of these approaches will make a profit. But the greedy investors will not be able to make a profit and always be at a loss.

Although there are many other mistakes that an investor or a day trader must know about before investing their investments into a stock, these three are the most common ones around. An investor must keep these mistakes in his mind while investing in stocks to make a good profit out of his capital. The best that an investor can do is to make an investment plan before jumping into the market. For the day-traders, they should make regular plans and should invest with a proper strategy. They must implement stop loss and should avoid canceling it. A good trader never follows the herd. He makes decisions considering past trends and moves his investments accordingly. He knows when and where to invest and never follows the advice of others. A good investment is always made after a good research on that particular program or stock. 

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

If you are considering starting a business and hope to achieve success, it is best to take on your venture well-advised. Having an entrepreneurship coach will be a determining factor in the success or failure of your new project.

It is not necessarily a matter of how good you are, but how can you be better? In this sense, the guidance and advice of an expert can make a significant difference.

In general, a coach is a person with years of experience who has an advantage that you can put in your favor.  They can be a guide or a counselor who can help maximize your potential and boost your business to accelerated growth.

Why is it necessary to have a coach?

Despite numerous workshops, courses, and studies you can complete, it may become clear that entrepreneurship elements can only be achieved through experience.  Generally, there is no book that can offer you what the professional development coach can give you based on his trajectory in the business world and his preparation in Mentoring methodology.

Consider coaching as a developmental tool within the business industry, where the coach gathers the experience and capacity to transmit their knowledge to your own experience.  This often generates the confidence necessary for professional development and growth and, on special occasions, will provide you with the tools to solve specific needs.

It is worth noting that the training obtained from a coach is beneficial, both for the worker and the company, as it grants the development of certain skills to solve problems and boost productivity.

Benefits of having a coach

Coaching is a tool that adapts as much as possible to the entrepreneur’s specific needs and his business project and is a powerful instrument to accompany and guide your venture in its development and path to success.

In each work environment or business reality, the accompaniment of the coach plays an important role, both for the entrepreneurial process and for the performance of the business.

Among the many benefits that a good coach brings are:

1. Create a functional plan

Creating a functional plan serves as a support to structure a clear model for your project or business. Coaching promotes your creativity, helps you employ and develop ideal strategic thinking to overcome crises, adverse situations, and failures, and find the best solution to each situation or problem.

2. It allows the identification of the objectives

This plan allows for the identification of relevant objectives, establishes the best action plan to achieve them, and generates greater profitability based on objectives focused on business productivity.

3. Increase the chances of success

Thanks to harmonizing the objectives with the principles and values ​​of your business, generating greater confidence and encouragement increase your chances of success. With the advice of a good coach, you will fully enjoy doing what you love. It is impossible to achieve success if what you are doing does not bring joy or lacks value.

4. Help strengthen your winning attitude

A coach can strengthen your attitudes and help drive you to achieve greater mastery over your ideas, thoughts, and emotions so you can discover and make the most of your talent as an entrepreneur, develop your skills, and work on minimizing your weaknesses.

5. It allows the development of leadership capacity

Having a coach generates confidence, supports risk management, and can help effectively change business needs. Coaching help expand your horizons, which will allow you to cope and adapt to new circumstances and changes to achieve success.

6. Elevates the skills of an entrepreneur

Through the experience of a coach, it is possible to optimize communication skills, negotiate, and resolve conflict. Coaching promotes the support of a positive attitude to recognize and respond to situations of uncertainty, unfavorable and unexpected, which allows you to reach a greater understanding and better relationships with your environment.  Building these relationships can have positive and lasting alliances for your business.

7. It allows to use the experience and knowledge

Experience you have accumulated as an entrepreneur and helps you apply your knowledge in complex situations and problem resolution, use opportunities, and manage your emotions. Coaching helps you overcome your internal barriers, overcome your limiting thoughts, and learn to strengthen optimism and creativity.

These are not the only benefits of having a coach, but it is worth noting that they are the most widespread because coaching is applied personally according to the entrepreneur’s needs and his project.

Having a coach for your endeavor is an option that generates value to the business model structure and provides you with the tools to grow your business.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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 term e-commerce refers to anything bought or sold online; it is your online store.  

The e-commerce industry is growing quickly every year.  In 2016, only 58.3%  of internet users worldwide shopped online. In 2019, the number grew to  63%, and in 2021 it is expected to increase even more to 65%. Therefore, it is essential that your business products and services are available online and that your platform is user-friendly for both you and the customer.  

Which one do I choose???

There are many options to choose from, and you can easily become overwhelmed.  Here are some characteristics to consider when choosing which e-commerce platform will help you to grow your business.

1. User Friendly

First, prioritize your comfort by looking into which platform is easy for YOU, the business owner, to set up and not require much extra effort in designing. Look into the templates offered by each platform so that you can decide which one would fit your unique brand perfectly.

2. Customer Friendly

Not only should it be easy for you to utilize, but the platform should be beginner-friendly and easy for a customer to navigate through. Online shopping should be simple, easy, and convenient. Pages should load quickly. You want the customer to be satisfied with the whole process so that they come back again and again.

3. Safe and Secure

Make sure to choose an online platform that is reputable and secure. A customer needs to feel safe entering his credit card information without the fear of it getting stolen. For security purposes, you should choose a platform that supports HTPPS/SSL.

4. Integrative Features

The e-commerce platform should be able to function with your existing marketing systems and software and offer the appropriate level of tools, plugins, and extensions for your specific product and business needs.   For example, if you rely heavily on ads from social media, your platform software should successfully integrate with Facebook and Instagram.

5. SEO-Friendly

Your e-commerce should be SEO-friendly, especially if your business is new. You want to make sure that when a potential customer is doing a Google search that your business pops up first and that they are drawn to your site.

6. Mobile Friendly

It is no surprise that with the advances in mobile technology such as the iPhone, a good e-commerce website should be mobile-friendly. A good platform should provide easy access to your business while also being fully functional for shopping on the go.

7. Analytics

Different platforms provide different types of analytics and data tracking. Make sure to look into which type of data would be the most resourceful statistics to keep you on top of consumer trends.

8. Payment Options

The availability of easy payment options is one of the most important things to consider when choosing your business e-commerce site. Square, PayPal, Stripe, and Apple Pay are the most common transaction gateways.

#1 E-Commerce platform is…..

Shopify is rated highly and is one of the most popular e-commerce platforms available. aIt addresses all of the necessary features mentioned above. It consists of step by step guide, so it is very easy to set up. The dashboard makes it easy for the business owner to access and manage all of the analytics. It is customizable for a wide range of services and offers more than 70 templates.

It is PCI compliant and has a 256-bit SSL certificate which makes it very safe and secure. It integrates with more than 2500 apps, has proper SEO built-in, and the URLs can easily be edited. The platform is mobile-friendly as it uses HTML 5.

You can also choose between Shopify Plan and Shopify Plus. The latter allows for more advanced and upgraded features and technical support via phone, email, or live chat.  Thus, SHOPIFY will cover all of your new online store’s business needs.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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 average person living in America will not have enough money saved by the time they reach 40 years old. The number of families that are not financially prepared is shocking. I have found multiple ways to start saving money for your family. In this article, I will show you how to save money and how much you should save by the time you are 40 years old.

Statistics on saving people are scary

The average savings of someone living in America is 6.1% of their income. 40% of the American population is not able to save anything at all. Families save between 30% and 50% of their salary. This means there are families that save 0% from equaling an average of 6.1%.

There are many people who miss the opportunity to save accordingly. If you do not have a proper plan in place to save money, you will reach the end of your thirties with nothing saved for the future. Upon doing further research, I found that more than 1,000 people Google how much money to have saved as an adult. With this many people hungry for knowledge, I decided to find the facts and share them to help others prepare.

How much must be saved at 40 according to experts

How much money should be saved according to age? There are many different theories surrounding this question. Thankfully, I came across a formula that I found simple enough to highlight. This formula was prepared by finance expert Kimmie Green. She states that someone who is 40 years old should have saved the equivalent of 3 times their annual salary.

This means, if your annual salary is $20,000, then you should have $60,000 saved by the time you are 40 years old. According to Green, at age 30, you should have saved your annual salary. Once you have the correct amount saved, you should add that amount to your account every five years. I know this seems like a lot, but with some self-control, it can be done. 

Thus, at 40 you will have three times your salary, at 50 you will have five times your salary, and at 65 you will have eight times your salary. To achieve a goal like this, you must save 20% of your annual salary without investing your money.

However, the amount of money you have saved at age 40 or any other age is not the only matter of importance. What you do with that savings is vital for the future.

When saving money over a long period of time, there are a few things to look out for—one of those being inflation. Inflation is the steady increase in the price of goods and services over time. In return, this lowers the value of the currency. Keep an eye on the monetary value of your savings account. Inflation is not always a bad thing. For an economy to be stable, it needs a stable amount of inflation.

Really important

• Make a plan!
• Control your finances.
• Save and invest money to be free!
• Follow your own path, and you will accomplish your own goals.
• It is not the amount of money you have, but the freedom that it gives you.
• Having money saved gives you freedom and peace of mind. This alone is priceless.

All in all

There are many reasons to save money. The future is unpredictable! Having a healthy amount of money in savings will give you a cushion to rest on. You never plan on a trip to the emergency room or a flat tire.  These unforeseen circumstances can be detrimental to finances.

The only way to save ourselves from worst-case scenarios is to start saving today!

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

From the scenario mentioned above, it appears to be a very quick and hassle-free process for the onlookers. However, how much effort that a crypto mining rig consumes cannot be overlooked. Encrypting the transaction, creating a blockchain, validating the transaction, generating an algorithm (secured), transforming the value of the coin from Litecoin to Bitcoin, and producing a QR Code in less than a second is worth applause.

Just the other day, one of the video clips went viral on social media regarding the purchase of a coffee and sandwich in Australia (consumer-related). The video shows that a woman strolls into a coffee café and buys herself a cup of coffee with a tomato and basil sandwich. There is this small standee at the counter, which reads “Bitcoin Accepted Here.” The woman does not have Bitcoin but has Litecoin. The teller evident gives a positive nod by saying that it is not a serious issue. The teller (through some computer application, the teller transforms the payment or the amount into a QR Code, appearing on a tablet, and requests the woman to go to her mobile app of crypto and take a snapshot of the QR Code. She exactly does that, and instantly the transaction is made, authenticated, and validated in less than a second. No exchange of fiat currency takes place.

The only drawback of this blockchain management technology in this scenario is that if the onlooker or the parties involved were invisible, it would not be easy to identify the transactions. In other words, such ghost transactions would not be acceptable by many governments as the payment mechanism is not regulated or centralized. However, it is an efficient payment process. Still, due to its proof of identity, many drug cartels, money launders, black marketers, and unauthorized parties can take this intrinsic feature to their advantage. The corruption watchdog will have no access to such transactions. Furthermore, cryptocurrency should only be crafted through the application platform of cryptography for the sole purpose of maintaining security. One of the benefits that a cryptocurrency has is that it is nearly impossible to forge, unlike the circulation of fake currency notes, just because cryptocurrency is fully secure. Another benefit of cryptocurrency and, questionably, its most appealing charisma is its natural fauna. It has nothing to do with the subtleties about the monetary policy, as it is not issued and nor in control by any federal or central regulator.

In the end, the outlook of cryptocurrency will be dividing the Litecoin block by two. It will be, perhaps, the foremost happening and an erratic era in the overall history of Litecoin. The concept of block (set of transactions) reward halving was built into the genetic structure of Litecoin by its developer, following the legacy of Bitcoin. In essence, its purpose is to make Litecoin vulnerable to devaluation. Primarily it implies that the number of tokens of Litecoin, currently in circulation, will be reduced. It is something inevitable to the fate of Litecoin. Therefore, in essence, it can be predicted with time, the value of Litecoin will increase, and the coin in circulation will decrease.

However, it is also imperative to mention here that, unlike conventional trading of shares in a stock exchange, it will be challenging for the users of cryptocurrencies. The prime reason is that they need to have the awareness and knowledge related to technology and need to understand the mechanics of mining, exploiting opportunities in crisis (in the event of arbitrage), and be extremely cautious in trading crypto in the futures market. Conducting exchange through hedging or in futures can be a financial bubble in disguise. The situation of cryptocurrencies, such as Litecoin, can drive the investor from the roof to the streets in a matter of hours. Therefore, it is suggested that the portfolio mix should not be concentrated on one coin or token. Predominantly, the value of crypto behaves well as per the essence of a capital market instead of a commodity or money market. In other words, the future trend can lead to panic, but it does not mean that an individual goes berserk. Stay calm, provided you have tailored your mindset as per the knowledge and become well-versed in all kinds of connotations.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

Workers’ Compensation laws have evolved considerably in the course of the 20th century. Initially, the Worker’s Commitment at the state level was voluntary, and the injured employees had to prove that their injuries were the responsibility of the employer.

Over time, federal and state Workers ‘Compensation laws were altered to balance the interests of workers’ needs that require adequate medical coverage and salary reimbursement benefits while establishing the limits of liability and the cost of Predictable Insurance for employers. Although the mandate was for the federal government, Workers’ Compensation is administered individually by state, and state laws for benefits and medical treatment vary.

Unless there is a physical or mental impairment, the injured must report the injury to the employer within four days after the accident. If the injury or discomfort is not life-threatening, the employee may select one of the providers designated by the employer for treatment.

The employer must then notify his insurance provider within 10 days of being notified by the injured or having knowledge of the accident that caused the damage. If the injured employee loses more than three days of work, or if the injury will result in permanent impairment, the insured must file a report with the Workers’ Compensation Division CDLE.

Employees who cannot work for at least three days may be eligible for a type of salary replacement known as “temporary disability.”  Temporary disability payments begin on the fourth day lost and are paid every two weeks.

Worker’s Compensation Benefits

Benefits vary based on the injury and the employee’s responsibility to return to work to their previous capacity. Worker’s Compensation benefits may include but are not limited to:

• Necessary and reasonable medical costs
• Replacement of two-thirds salary will leave seminal average at the time of injury
• Vocational rehabilitation or re-training if the injury prevents you from doing your current job
• Benefits of death for family members if the injury results in death

Types of Worker-Committed Lesions

Worker’s Compensation covered most, but not all, injuries sustained at work regardless of whether or not they were paid. Injuries covered include but are not limited to:

• Injuries related to an accident suffered at work
• Diseases caused by exposure to substances or activities related to work
• Repetitive conditions of stress such as carpal tunnel syndrome
• Injuries that occur while at work traveling outside the workplace
• Related injuries caused by work like heavy lifting

Injuries that typically are not covered by Workers Compensation include:

• Self-injurious injuries, such as fighting at work or not using equipment properly
• Injured injuries while committing a crime
• Injuries while the employee is not at work
• Injuries otherwise related to a violation of the company policy

If you have any questions about your eligibility for Workers’ Compensation benefits, it is recommended that you discuss your case with a lawyer before submitting a claim.

How can a Workers’ Compensation lawyer help you?

Some Worker’s Compensation claims can be resolved quickly and easily. However, some claims are more complex than others, and claims are occasionally denied by insurance companies or employers.

Working with a Workers’ Compensation attorney, you can be assured that your claim is fully documented and receives benefits that belong to you. In some cases, insurance providers try to limit or deny their legitimate benefits. If you think that a reasonable Worker’s Compensation claim has been denied, a lawyer can review your case and help you with an appeal. Appeals must be made within 45 days after the denial.

A Workers’ Compensation lawyer can also help you protect your rights in the event that an employer threatens to compensate for an injury at work. Employers cannot fire, retaliate, or discriminate against an employee who has submitted documents for Workers’ Compensation benefits.

What to do if you reject your workers’ compensation claim

Each year, workers’ compensation claims are rejected for various reasons, especially in the state of New York. In 2014, more than 165,000 new claims were filed in New York for work-related injuries, of which 11,175 were contested. Unfortunately, this means that many workers do not receive the benefits they need to sustain themselves while recovering from an injury.

Why do they reject workers’ compensation claims?

There are many reasons a workers’ compensation claim could be rejected; below

are the most common reasons:

• If you did not notify your employer of your injury within the required timeframe
• If you did not receive medical treatment after the injury
• If you did not submit your application on time
• If you did not provide all the necessary information in your claim

3 steps to follow if your claim has been rejected

If your claim has been rejected, continue fighting. In fact, many people manage to obtain benefits through an appeal or by requesting other benefits. Below are three steps to follow if your claim is rejected:

1) Review your request

First, you should review your workers’ compensation application. Sometimes, these claims are rejected simply because documentation is missing or there are errors in it. If you cannot understand why your claim was rejected, you should seek legal assistance.

2) Contact a lawyer

An experienced lawyer could be a valuable resource to appeal your case. In addition to reviewing your application, a lawyer may file an appeal for you.

3) Gather evidence and file your appeal

If you think your claim should have been approved, you should appeal the decision. However, you should be prepared for the appeal process if you want to change the decision. One of the first steps is to gather information and additional evidence to present and reinforce your case. A lawyer can help you gather all relevant evidence and prepare for your appeal.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.

In organizations, it is common for a certain target audience to be chosen to work. In some moments, that makes us think and consider that the company limits its actions and, consequently, not making money.

But, if we think a little more, we will realize that this definition improves the company’s results.

What is market segmentation?

Market segmentation is used by companies to separate the target audience with which they wish to work. Considered a market phenomenon, the technique consists of defining the marketing strategy by identifying the target market.

Segmenting this market means dividing it so that consumers are grouped according to a series of characteristics, needs, or preferences. A segment must have people with homogeneous factors, and these depend on the objective of the segmentation.

This separation into groups of consumers allows the company to identify and privilege one or several segments according to a range of objectives or products.

The segmentation process requires that the criteria that affect or affect purchase decisions be identified. There are various segmentation criteria: social, geographical, demographic, economic, social, lifestyle, etc.

Normally, in market segmentation, it is necessary to address several criteria to better guide the marketing actions to follow. The more aspects used to characterize an audience, the easier it will be to develop a marketing strategy.

There is no way to segment a target audience without knowing what characteristics you need to have for the strategy to be correctly defined. A study or market research needs to contemplate an objective such as creating a product, optimizing the concept of a brand, or another that has strategic relevance.

Benefits of market segmentation

Undoubtedly, one of the main benefits of segmenting the public and selecting a group of personnel to reach is the high possibility of reducing costs. This decrease in costs is caused by the administration of smaller groups of consumers.

As a result, it is possible to devote more attention to the target audience and generate higher profits.

Market segmentation becomes even more important in small companies because this size has limited resources to meet high demand. Besides, it cannot maintain the high costs required by a high logistic and administrative capacity.

In general, the segmentation of micro and small organizations is carried out considering geographical location, age, sex, and some feature that brings the company closer to the target people.

No major disadvantages have been detected when talking about segmentation, but one aspect that could be evaluated is the difficulty of obtaining clear information about the behavioral characteristics of people.

Is market segmentation cost or investment?

If you were to answer this question, what would be your argument?

Well, here we must make you think a little bit. When you do segmentation, you need to know people, which requires previous market research. OK, this was already mentioned in the article!

We have not yet said that to make this study, it is fundamental to put money in play. That is, you must pay to get to know people. According to this point, segmentation could be considered a cost.

On the other hand, if we think about the integral situation generated, we realize that the segmentation requires investment and that this can be recovered in a short time. Calm down; if you did not understand, we would explain it to you.

By making a segmentation, we reduce the probability of carrying out a marketing campaign so that nobody sees it or spends money on a product without knowing if the public is going to accept it. Segmentation guides the actions of the company to reduce production and administrative costs.

Seen that, it can be said that segmenting is an important investment. Moreover, it can be said that it is possible to obtain more profit by making a good market segmentation for various reasons.

• The company knows its target audience better.
• The company recognizes the needs of the group it chose to serve.
• A closer link is created between the company and consumers.

Arriving here, you will already have a defined position about segmentation. If, on the one hand, it reduces the public for which the company will work, on the other, it broadens the chances of success within that group. That is, it allows actions to be addressed and not be lost in the attempt.

5 steps: How to make a market segmentation

Consider general criteria

This criterion allows the recognition of the socioeconomic and demographic characteristics of the prospects or clients. It is easy to do since it considers age, sex, residence, and income.

Choose the target market

It is fundamental to define the group for which we want to offer the product / s or what can buy what the company provides. For example, if we want to sell a high-level cosmetic product, the target market will be composed of segments of middle-aged women with a higher income.

Consumption profile

Here is considered how the sector relates to the market. Besides, it recognizes how it defines the behavior of consumers when it comes to buying a certain product or contracting a certain service. At this time, the study should consider variables such as:

• Lifestyle.
• Tastes and preferences.
• Opinions
• Consumption habits.

It is important to highlight that the investigation of the consumption profile must be done considering the segment selected in the previous point.

Design of the marketing strategy

This must adjust to the needs of the company and the market so that there is a coherent relationship between production and consumption. For that, it is necessary to consider the marketing mix.

Sale of the product/service

If all the previous steps were completed, it is time to sell the product or service in the market segment. It is also time to expand sales and seek new horizons.

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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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.