Category: Content

In a matter of days, we change the year, and with it come the new purposes, both personal and professional. That is why, through these lines, we want to bring you future trends towards our professional performance as freelancers.

In the first place, all freelancers must be clear that the Internet, globalization, and social change have transformed (and continue to do so) the way of understanding our work, schedules, and times. In short, all their routine.

That is why this post aims to give a global vision to our entire professional environment so that we position ourselves towards the new goals that are set before us and, with that, assess all those advantages that can benefit us concerning two essential areas: Marketing and Internet.

Internet

In the field of technical communications, it must be borne in mind that this background race has only just begun. The network of networks entered stealthily into our lives and is now indispensable in our daily work. Concepts such as social networks, geolocation, localization, the cloud, or the already announced web 3.0 only warn us about the hopes of evolution in ICT (Information and communication technologies)

From infoautonomos.com, we bet on the fact that the trends of the following times will be:

• The cloud, cloud, and SaaS: In the coming years, we will attend the definitive migration of most of our computer programs to the “cloud,” something that will also happen with freelancers and SMEs thanks to the advantages that SaaS entails.
• The web 3.0.: The challenge is intelligent navigation, adapted to the tastes and needs of the user. The key will be in the integrated applications of artificial intelligence that will feed on the information provided by Internet users. Over time, companies will communicate individually with each client.
• Content filtering: we have already attended to a situation of over information and saturation by the Internet user. This will result in content filtering, which will be automated based on 3.0 solutions. The content will lose value to the detriment of the context, which will filter the content through new applications. And the generation of factual quality content will remain important, although this will not be enough on its own.
• Media and media integration: finally, televisions that properly integrate the Internet and TV are being marketed, so “TV on-demand” and “online video club” are already exploiting realities.
• Globalization: The Internet combines the global with the local by facilitating communication with those far away (international dimension) and especially with close (regional size). And the functionalities and capabilities to act in these two dimensions will continue to grow.
• Decrease in the use of email: this tool will lose more prominence due to the rise of mobile devices and social networks

Marketing

On the other hand, the most prominent trends in marketing and content marketing are linked to the use of smartphones, which are undoubtedly called to change the way we consume products and link to brands. So, from Infoautonomos.com, we bet on criteria such as:

• The disappearance of cash and credit cards will be gradually replaced thanks to the introduction of mobile phone payment readers.
• Apps vs. web: applications for smartphones and tablets that allow us to access the Internet more comfortably and simply and quickly consume all kinds of information (text, audio, and video).
• Social Commerce mobile: smartphones are a potent tool for “Social Commerce” by allowing the integration of third-party recommendations with offers and coupons, all based on the user’s exact location, thanks to GPS systems.
• QR or Bidis codes: this code system avoids having to type and facilitates navigation through smartphones. What it does is reinforce the versatility of the mobile phone as support. Its use goes far beyond advertising and electronic commerce, allowing the publisher to offer the possibility of expanding information on any subject and in any situation and support.
• Integration with household devices: the simplest may be the integration of opening codes that will replace the keys in the case of automated doors. And here, an exciting field for home automation opens. The key is that it is fast and elementary to use.

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.

Did you know that your mobile can become a source of extra income? And all thanks to the apps (applications) that you can install on your phone completely free of charge. With the best apps to earn money, you can get extra money in some cases, selling what you no longer want or do not need; in others, playing sports bets – always in a responsible manner; and in others, fulfilling specific ‘missions’ or offering your valuable knowledge to other people.

Do not miss these apps to earn money

• EBAY: It is an excellent option to get an extra performance to what you no longer need and is in perfect condition. You can sell your second-hand products at a fixed price or through an auction. The forms of payment are secure (through PayPal), and you will only have to pay eBay 10% of the final sale price, with a maximum limit of two hundred euros.
• MOBEYE: Can you do something better than making money when you go shopping? This is the philosophy of this app, which proposes missions of “research” of products and their placement in certain stores. We can earn up to fifteen dollars per store where we have performed the assigned task.
• WALLAPOP: In the last five years, it has become one of the reference applications for selling second-hand items. Here you can put all kinds of products on sale – although there are limitations for ethical and legal reasons – and wait for someone – almost always from your geographical area – to be interested in it. This app is already used by more than forty million people worldwide. It also has a service for the urgent sale of products.
• FRIENDZ: If you have the soul of a photographer and you want to earn extra money, this is your app. Upload your photos to social networks like Facebook or Instagram. Each time you upload a snapshot, you will accumulate credits that can be redeemed for money in stores of major brands (Zara or Decathlon among them).
• SHARING ACADEMY: This app has come to revolutionize the traditional market of private lessons. Suppose you are an expert in any academic subject. In that case, you can join the network of more than 1,500 private teachers and charge for teaching your classes (University, Baccalaureate, or ESO) at a distance or in person.
• APP TRAILERS: This is one of the simplest and most fun ways to make money with your mobile. You must watch videos and movie and game trailers—the money you receive immediately through PayPal.
• FOAP: It is the best app by which photography and videography business owners can earn sound money. This app makes selling photos, videos, signing related contracts, and marketing easy and possible. You will need to upload all your photos, portfolios, drafted videos, event certificates in this app. But, before this, you will have to download the app. If agencies, brands, other business owners (users of Foap) buy your work or hire you for their events, you will have to share your 50% profit with Foap. You will charge reasonable fees for this. Let us suppose, if this app is selling your photos or videos at $100, you will have $50 in your account. That would be your total earning for each contract. I sell more than one photo or video, and it would be an excellent plus point of your earning rate. There will be a great chance of selling hundreds of your videos and photos via Foap through a process called Missions.
• ACORNS: This app is best for investors that wish to invest in your money-earning app. Only you need to download the Robo-investing app and link your bank account with it. This app rounds up to the next dollar with each purchase. It also automatically invests your spare transformation into a portfolio of ETFs. They diversified beyond 7,000 plus stocks and bonds. You can sign up for this app for recurring investments. You will only need to invest five dollars and watch your portfolio grow. Acorns charge a $1 per month fee as a factor in your earnings. Also, you will have investment support from its support team, automatic rebalancing, a diversified portfolio, and mobile access to all your accounts.

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.

Do you have to be a little business genius to start a business? Not at all! If you are tired of being an employee and have long dreamed of carrying out a project, now is the time to start your own business! It is one of the main tips for becoming an entrepreneur: dare to begin! It is not a question of going headlong but trusting yourself and thinking that you can carry out your boat. Here are some ways to help you create your company.

What are your strengths and weaknesses?

It is essential to know yourself well before setting up a business. Some people are very good at all business aspects, while they are more difficult for the central part. You must be aware of the strengths and weaknesses you may have so as not to advance blindly. Try to ask yourself what motivates you to carry out this project and consider if you have all the necessary skills to carry it out. It may then be wise to follow training delivered by an expert to create a business under the best possible conditions. If you do not have time to move or your geographical situation does not allow it, you can, without any worry, follow a video training developed by a professional who will accompany you in your professional learning.

What is your financial situation?

Some companies don’t need a significant financial investment, but other projects do. For example, the status of micro-entrepreneurs does not require start-up capital. Starting a business involves gauging the capital needs and the situation of your future business as well as possible. Perhaps in the first months of your business, you will not generate enough turnover to get paid. Still, by using the proper techniques, you can boost the development of your company.

If the investment is essential, it may be wise to look for partners. Projects made up of several people are often more ambitious but still require choosing the right people. Choose partners with complementary skills who have the same vision as you to develop your business. It is also important to compare your project with other points of view, to see the possible improvements and the changes to be made.

Make a proper business plan

An effective business plan is necessary if you want to grow your business remarkably, leading to long-term success. It must include a good discipline that makes you think about how to make your business activities sustainable, mid to long-term.

Initially, prepare a plan for the initial business phase then, gradually develop a perfect roadmap for upcoming months and years. Remember, you will not plan as they read it like the topic of War and Peace. It would be best to add the executive summary of 2 to 3, 10 to 20-page plan, and appendices as your plan.

Ask for help to start your business

Avoid isolating yourself to launch your project! Get inspired by other business founders, take training on the Internet, and ask people who have been there before. Specific organizations will also be able to support you in solidly building the foundations of your company.

The Chamber of Commerce and Industry (CCI)

The CCI is a public body managed by the State, established in local networks, which you will find in your department or region. Its primary purpose is to support new projects and companies at the dawn of their creation. She will inform you of the administrative procedures you must carry out as part of your activity. It is also an aid to acquire new skills and develop your know-how.

Wage portage

Are you worried about going it alone? Wage portage can be a step to test your activity and see if it is viable. The carrier company offers to sign a tripartite contract. You thus become an employee of the company, but you remain free to choose your customers and organize your days. The portage company prepares a salary slip for you and takes care of billing, customer reminders, and settling your contributions.

Wage portage offers flexibility and greater security than self-employed status. When you feel that your business can work, you get started as an entrepreneur! Wage portage opens the doors to a solid network of professionals, and it is an opportunity to seize opportunities that you might not have had by launching yourself immediately. It would be best to calculate whether this solution is profitable based on your turnover.

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 brand story is fuel to drive a socially conscious business. Therefore, 93% of brands market their products and services through a compelling brand story. Make sure it is purposeful and relatable to your business. In this way, you can understand the level of your brand recognition in the market.

The compelling brand story creation should rely on true business intentions. It is not something that you have a piece of paper, and you write everything about your brand, services, and products. You create emotions in your story that help build timeless ties with your targeted audience. It requires diligent effort and passion for work.

Let’s learn to create an engaging brand story that can provide maximum conversion rates. Your brand story should be a mixture of the following factors.

Brand’s mission

Understand your brand’s intentions well and diligently explain them to your audience. According to OnBrand, building an audience is more valuable than direct sales for over 70% of brand managers. Ideally, articulate all your brand offers in a couple of sentences with carefully chosen words. Also, evoke your brand’s personality and explain your value proposition. All these things will serve as a guide for all of your content. Your brand mission must reflect the audience’s values, interests, needs, and aspirations.

Consider the following while creating a brand story:

• Use your own words, explain your brand mission, and make it unique and intuitive.
• Write company offers, products, services, and define what sets your brand apart from your competitors.
• Select fittest keywords that describe your product and services, such as innovative, stylish, intelligent, transparent.
• Decide an engaging tone and personality you wish your brand conveys.
• Figure out your business’s values, interests, needs, aspirations of your clients, including the existing and potential ones.

Play with all these steps until you have completed a written mission statement. Make sure it is compelling, concise, and true to your product, services, and brand.

Add emotions and make it a motivational model

The audience’s emotional attachment to your brand is necessary for business success. No matter which industry you are in, there is always a story that defines your business journey and experiences. Adding emotions and making your brand story a motivational model causes infinite conversions. Here are the ideas for this kind of addition;

Origin stories – Introduce your company founders and their intentions.

Customer stories – Explain how your company serves its clients, their feedback, your sales progress. Showcase how you solve all customer problems. Explain why customers choose your company and what outcomes they got.

Employee and business stories – Talk about your employees with their level of satisfaction. Explain how your machinery works. Share your business experiences and what perplexities your company has faced throughout the journey.

Storytelling elements

Create compelling brand storytelling rather than making epic and drama-packed tales. Add essential storytelling elements to make your brand story engaging and memorable. The component includes struggle, turning point, or descriptive words that paint an image.

Start your work by setting the scene and introducing the main characters first by using storytelling elements. Get to the conflict quickly and use a better source to purchase gear. Define all these things in detail and tie everything by explaining the present-day business operations. You can gather all information through the necessary storytelling tools. Tap it into the ethos of their brand and speak directly to your targeted audience.

Some essential steps you will need to follow while creating an engaging brand story;

• Decide on one concept and start your work using notes and content ideas for interviews or research.
• Determine the main character’s problem and how it solves the issue (turning point or revelation). Wrap up the story by binding everything, including business activities and value proposition.
• Go through your whole brand story again and make sure it is intuitive with good readability. Make sure it flows well so that your audience gives you candid feedback for creating a remarkable brand story.

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.

Making the taxes yourself is less demanding than a person might suspect. A few projects make tax-exempt and charge readiness, and programming encourages them to spare cash by documenting charges. A person can save some money by not paying a bookkeeper and making their assessments. In this guide, we indicate to you progressively that it is so natural to do the duties themselves.

Make the taxes yourself: when you should pronounce your changes independent from anyone else

Many people don’t know that it is so natural to make their expenses. Because of expense projects, for example, [Key word], [Key word], and [Key word], you can record levies for nothing much of the time.

When you get a W2 form, presumably a government form is anything but painful to round out since the numbers required is printed on this. Moreover, the prescribed projects to make the assessments enable them to locate the most reasoning and credits for which a person qualifies. Not all bookkeepers will improve the situation you.

Make the expenses yourself: recommended programs

A few organizations offer projects to do the assessments; however, not all are prescribed. We dissect every single one of these organizations in detail.

The product of these organizations is basic, shoddy (now and again free), and simple to utilize. These projects enable a person to do the duties yourself rapidly, effectively, and without migraines.

Why do you have to do the expenses yourself?

A person requires the same data they would take to their bookkeeper to do their duties. The most spurring part is to make your expenses: do half of the bookkeeper’s work without acknowledging it. Underneath, we demonstrate the means to take after pronouncing the taxes for yourself.

Stage one – make the duties yourself: gather your archives

When making taxes, a person requires similar libraries and evidence to give to the bookkeeper. Ensure they have the essential structures and records to help with their announcement.

Get verification of wage. It incorporates W-2 shapes that a manager gives and any 1099 frame if a person fills in as an independently employed individual or has speculations. On the off chance that a person has not discovered their W-2 shape, they can visit our guide: How to make charges without W2.

It will be helpful for you to duplicate your expense form from a year ago since it will be substantially more straightforward to have your data and other valuable data.

Stage two – make the assessments yourself: gather your receipts

If a person intends to assert certain credits (for example, assess confidence for youngsters) or derivations, they will likewise require receipts to demonstrate sure buys or installments. These incorporate restorative costs, changes to their home, and expenses if a person is independently employed.

A person ought to likewise have the conclusion shapes on the enthusiasm of an obligation (if a person has understudy advances or a home loan credit), even though the product to make the assessments will help them remember the minute they should enter this data.

Stage three – make the expenses yourself: help accessible

It is impossible that a person requires it since the expense programs are incredibly total; however, it will be valuable to realize that the IRS gives assistance and clarifications on the most proficient method to round out the tax documents on their site.

These are accessible and are anything but trying to explore regardless of whether their English is constrained.

Stage four – make the expenses yourself: choose a duty programming

Choose a program that is not awkward to utilize and direct during the time spent doing these duties deliberately.

One that also consolidates a collaborator responsible for finding the derivations and extra credits for which qualify with the goal that you can get more cash in the charges. It implies they work to support you with the intent that a person pays fewer fees.

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 definition of financial transparency is the open and reliable disclosures about a company’s financial performance so that investors can make an informed investment decision. In other words, investors go for companies whose financial statements, business operations, and strategies are easily understood, clear, and reveal rather than hide information. Not only this, lack of transparency or visibility is generally a significant concern and causes problems for the business in the long run. Transparency creates openness between managers and their employees; this builds trust and good communication and leads to a successful organization.

Financial transparency or business transparency has various advantages. Some might even say transparency is a glass door between a struggling workforce and an innovative team. Effective teams will eventually need transparency for collaboration, cooperation, and collective decision-making within the firm. Some of the benefits are as follows;

Increased Employee engagement is one of the most critical factors in employee satisfaction in workplace transparency. It shows the employees that their feedback and contributions have value, and their hard work brings rewards. Employee Engagement increases productivity as employees can see the inner workings of the company and its strategic plans. Workplace transparency also builds trust between the managers and the employees and welcomes open conversation. All of this combined results in increased employee engagement, improved morale, and better employee performance.

Improved workplace culture with increased employee engagement and trust among the employees and management comes to improved workplace culture. Trust plays an essential part. Employers have to make a conscious effort to show their employees that they are honest leaders willing to engage in open conversation and can be trusted; this can only be done by providing the proper transparency to the employees. Clarity gives the employees the security that co-workers or managers won’t steal the credit for their work, and they will be able to set and achieve realistic goals. As a result, you will see a strengthened workspace environment.

Attract investors

Before extending funds to a business, investors consider all significant financial statements of the business. Investors review these financial statements to judge the company’s financial health and then decide whether to invest in the company or not. These financial statements help them analyze the company’s plans. Transparency makes this analysis more accessible and lowers the risk for investors when investing in stocks. If a company withholds information, it will be perceived as trying to hide something; hence the investors will automatically back off.

Attract quality candidates

You are more likely to attract quality candidates in your recruitment efforts when you are open and honest about your company’s structure, priorities, financial position, culture, and salary range for the position. This clarity will allow the candidates to have an insight into your company. You will attract genuinely invested candidates in your mission and can genuinely make a difference by working in your company for both your company and themselves. If the company information is hard to obtain, worthy candidates might apply somewhere else. Once hired, these employees will be welcome to workplace transparency, making them feel valued and heard creating a sense of trust and loyalty. This culture will also work in your favor to retain employees.

Well-managed expectations and financial transparency provide a clear picture of the company’s goals and expectations to both the employees and the employers; this prevents any misunderstandings or false assumptions regarding the company or the employee’s job. It also avoids setting any unrealistic expectations, which lead to unmet goals. Greater clarity also keeps everyone within the company on the same page.

Boost brand reputation

Accountability and transparency build the credibility of a business. A company in the public view is more likely to enjoy a positive image and boost its reputation by giving financial transparency to its employees, competitors, and the market in general.

Better shot at getting a loan

If you own a small business or require a loan from a bank for your business, you will have to show a clear picture of your financial statements. Transparency is necessary for such instances. The lender will analyze your financial position using these statements and then decide whether to extend credit or not.

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.

Small businesses are easy to manage, but it is not as easy as you think. Keeping track of expenses can be challenging when the correct methods are unknown. Bookkeeping is an excellent way of keeping track of things daily as it helps to calculate all the costs at the end of the day.

What is bookkeeping?

As the name says, bookkeeping includes keeping day-to-day records of all the financial transactions taking the place of a company. The work of a bookkeeper is to record bank transactions, cash, expenses, sales in a general register.

For a small business startup, a bookkeeper needs to know the importance of the ledger. Keeping it updated and accurate is the crucial aspect of understanding the company’s finance. Transaction recording is posting a bookkeeper’s work that might also include invoice generating or/and completing payroll.

The bookkeeping complexity process depends on the business size and the monthly, weekly, and daily transactions.

What are the bookkeeping methods?

There are two ways of bookkeeping:

1. Single-Entry
2. Double-Entry

Many businesses use the double-entry method where every record to an account needs a matching and opposite entry to a varying account. For example, a cash sale of $10 would need posting two entries: a $10 debit entry to a “Cash” account and a $10 credit entry to a “Revenue” account.

You can also do bookkeeping on a lined piece of paper or spreadsheet. Moreover, much of today’s bookkeeping is automatic. The software also includes some accounting process components.

The crucial aspect of a great bookkeeper is being strict about precision and completing the record. As humans are bound to make errors, a bookkeeper is usually under the supervision of an accountant to deal with the matters.

Key points to remember for bookkeeping as a small business

Given below are a few key points that are important for any small business’s bookkeeping:

• Dedicate a business account precisely to all revenue and expenses. When a company draws a bank statement to do bookkeeping, everything is in one place.
• It is essential for a business to use statements and mark things as they are entered into a spreadsheet. With the marking off eliminating all items on the bank statement, it becomes clear what expenses have been used.
• Keep a record of all the money earned by the business, including the loans and investment funds. It is essential to keep the investments and loans in different registers and not be kept as revenue. The incoming revenue is generally recorded with related database categories, such as category, date, memorandum, and payee payments.
• Keep an upcoming payment timetable for all the payments to be received in the future by business-like utilities, rents, and other frequent payments. It is known as AP Account Payable.
• If there is an expected one-time expense in the future, it can also create a budget from the same ledger.
• Many businesses book their AP with two dates: the due date and the deadline, expected before the penalties are suffered.

How to manage bookkeeping?

Starting with bookkeeping can be easy when performed accurately; however, you can manage the stats with books or simple spreadsheets. As the business grows, considering more advanced techniques taking QuickBooks and bench into account is essential.

With the growth of a business, it is vital to keep reviewing the time spent on books. It is also important how much time is putting a cost on a business. The right bookkeeping solution helps a company be more focused and precise about the cost and aids in saving more money for the business.

The most important part of a business is to have a hassle-free payment method. It will help the company generate a smooth payment acceptance method that can either be a merchant account or a third-party payment method like PayPal.

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.

We will never tire of talking about the importance of establishing and maintaining good credit. In the FICO score range (300 to 850), the average national score is around 690. The higher your score, the better concessions and financial offers you will receive. For example, you will get better interest rates on mortgage loans, car loans, and credit cards. You also get lower auto insurance premiums, housing rents, and it opens doors for you to find specific jobs.

To benefit from this, you must know the factors that influence your score and learn to read your report so you can detect and correct errors in your file.

Five factors influence your FICO credit score directly:

• 35% Payment history: the timeliness of your payments and if you have ever failed.
• 30% The amount owed: how much you owe on each line of credit concerning the total of your available credit.
• 15% The antiquity of the credit history: from when you have and maintain your history.
• 10% New credits and applications: how many times have you applied for new credit in the last two years?
• 10% The mix types of credits: the diversity of credits, fixed fees (car payment), or rotating (credit cards).

Although no one knows precisely the formula used to obtain your score, at least we know the percentage in which these factors influence your credit. Therefore, you can implement strategies to increase your score.

Understanding your credit report is a bit more complex, and it may be a little harder for you if you do not know English. But do not worry, here we are to help you and offer you a guide to interpret it.

How to read your report

The three leading credit agencies and issuers of your report are Experian, Equifax, and TransUnion, which should offer you the same information in a different format. If you find discrepancies once you get your reports, you must make a dispute so that you can fix the error and if it is something that your score is affected, eliminate it.

The credit reports contain the following information:

• Personal information: your name (and its spelling variations), current and previous addresses, work, and others.
• Public records: your public and legal information on foreclosures, liens, and bankruptcies.
• Collection or collection agency activity: if you have some collection account.
• Credit history: the types of accounts you have, the amount due and credit available, the history of the activity in each account, and in what state it is an account
• Credit requests: compilation of your high-impact requests (made by a creditor to give you credit) in the last 24 months and those of low impact that you request (which do not affect your score).

Fix errors in your credit report

If you discover some incorrect information on your credit report, you are responsible for fixing it. You must submit a dispute directly with the credit bureau that issued the report with the error. Remember that sometimes you will write your name with different spellings. Still, it is not recommended that you correct this error since doing so can eliminate part of the positive history connected to that name.

Once you inform the credit bureau, it must contact your creditor to determine if an error has been made. The Fair Credit law guarantees that the creditor and the credit bureau must solve your request within 30 days. If they have not done so, they should delete the information in question. This law has led many companies to “fix” the credit and “guarantee you remove all negative information in 30 days.”  These companies do not tell you that if the credit bureau and the creditor verify that the damaging information is correct, it is included in your credit report again, even if the 30 days have already passed. That is, it is temporarily removed, and only the creditor has the power to change the information reported in your credit report.

Remember that the information of your accounts stays in your credit report for seven years and bankruptcies up to ten years.

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 country and local governments are responsible for enforcing property taxes. They utilize it to fund public service and community projects. High property tax can be highly burdensome. Annual property tax bills tend to rise steadily over time despite on-time debt payments. Most people are conversant with their income taxes, but they are unaware of their current property tax value. Unfortunately, Natural Taxpayers Union reports overvaluation affects 60% of all homes during property tax payments.

As O’Connor Property Tax Reduction Experts reports, only 7% of property owners file appeals that challenge their annual property tax evaluation. It means 90% of property owners pay excessive taxes.

Generally, the local authority has the power to alter your property taxes. But even you can reduce your property taxes with a bit of research and a lot of determination. For this, let’s consider these ways that will help you a lot.

Go through real estate websites

Typically, checking your neighbor’s property tax records is not an exciting prospect. Going through some real estate websites is the best alternative to get the information before appealing to property assessment. You need to check which property the real estate has sold nearby your area.

If you need to know the actual rate of the property:

1. Don’t look at the automatic listings.
2. Remember, the evaluated costs of your property will not always match the fair market prices. You can find some calculations on home sales while remaining by replacing the value of your home with the taxation of the land that it stands on.
3. Remember that if your house is not more than a dump between expensive mansions, it still has the same worth due to the surrounding area.

Try to reduce your tax bills

Authorities decide the property tax rate at the state level, and they use it for schools, streets, and public safety. While purchasing a house, you already know that you will have to pay property tax. But you will not know its exact amount. So, do something for tax reduction rather than fume over the high tax bill. Find the actual value of property tax and check it up regularly so that you won’t have to pay an excessive tax bill.

Eliminate errors from your property tax card

A property tax card contains the official record of your property. The information includes:

• Your home evaluated value.
• Square footage.
• The year of its construction.
• The multitude of bedrooms and bathrooms.

But this card often has errors. Get a copy of your tax card from the local state assessor’s office. Then, check it thoroughly and eliminate all mistakes from it.

For example, you can find the error like your card reveals you have more bedrooms than reality. If you detect such errors, inform the assessor immediately and send him a request for reevaluation for tax. It will save the money that you usually spend on excessive property taxes.

Send a request for immediate tax evaluation

Many assessors limit a particular time to send a request for tax evaluation. As per some rules, the amount of time is minimal, as 30 days. It would be best to appeal as soon as possible because you will miss this opportunity. As a result, you will have to pay an excessive property tax. You will fill out a form to send a request and explain why the demand or the assessor’s valuation is too high. You would have to pay 50% of the fee if you sent a request for a tax reduction for the first time.

Hire a third-party company

There are lots of ways by which you can successfully reduce your property taxes as like the above ones. You can also get help from a law firm for property tax reduction. It will offer you a professional advocate that will handle all your filing deadlines. Don’t select the attorney that doesn’t charge an upfront fee. If you need to pay the bills of their services on your first year of tax savings, hire them. 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.

What are Clearing Accounts?

A clearing account, in short, is an account that is used as a temporary location to keep money before transferring it to another account. A business owner might be getting rid of his business accounts by the end of the year. To move the finances into a new account, they must have a safe place to keep all the money before making the big move. For this purpose, clearing accounts are helpful. It serves as a temporary place to store your monetary funds before you are ready to shift them into a new account for a fresh start.

Clearing accounts serve as a temporary location to keep your money for a short amount of time. During this time, business owners may be waiting on some financial data to deduce the performance of their business during that year. Some business owners may also use this time to prepare Balance sheets and other financial statements.

Now, consider two things when one uses a clearing account. The first point is that the financial health highlighted in the clearing account is not in use in the balance sheets.

The second point to ponder is that a clearing account is not synonymous with a suspense account. Both are two entirely different things and are not to be confused with one another.

Difference Between a Clearing and a Suspense Account

As explained, clearing accounts’ primary use is to store monetary funds for a company as the accounting year concludes. A business owner may be waiting to process some data before shifting the amount to a new account. For this purpose, they would make use of a clearing account. They would store all their money for a short period as they waited for their new account to become active.

On the contrary, a suspense account also stores your money for you but only caters to the difference not covered by the debit and credit, meaning that it holds the trial balance in this account. On the other hand, a clearing balance keeps all the finances in a ledger without a difference.

Why Do You Need a Clearing Account?

Clearing accounts generally have three uses.

The first use would be as explained above. A business owner uses a clearing account when they are waiting for specific financial data before transferring it into a new account. Once they can retrieve the required data, the business owner would empty the clearing account by transferring the funds to the new account.

The second use would be utilizing a clearing account as an asset clearing account. An asset clearing account is needed when a business owner is waiting for an incoming payment. Once the invoice amount is received, the business owner can empty the clearing account.

Businesses use payroll clearing accounts to clear out payrolls. Payrolls clear from the bank as well as a ledger.

If you have learned a thing or two by reading this article, you will now know the importance of using a clearing account. A clearing account should always be discreet and could aid the business owner in their financial maintenance.

It is essential to note the difference between a clearing account and a suspense account. A business owner must understand the kind of account they need for a short period while figuring out their financial situation.

You do not have to be an accountant to know how to use a clearing account. You should be aware of your financial data. Using a clearing account would assist you in maintaining a presence in the market as you would be able to keep your finances clear.

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.