A credit score is a three-digit number that can help an institution evaluate your credit history and estimate the risks of lending money or extending your credit. Credit bureaus collect all this information. Credit bureaus are credit reporting agencies that gather and research credit information of a person and sell it to creditors for a fee so that they can make decisions about who’s eligible to be granted a loan and who’s not.
In the US, three major credit bureaus, Equifax, Experian, and TransUnion, track this information. Based on your credit history, they assign you a specific credit score. These credit scores are significant in predicting whether you’ll be getting the loan or not. Credit bureaus don’t decide whether to grant you the loan; they only collect and analyze your information. This decision depends on the lending organization.
Your credit score is calculated based on your payment history, length of credit history, recently opened bank accounts, types of credit in use, and the amount of credit you owe. Once your credit score is active, it decides whether you’ll get a loan and how much the interest rate is. Companies can even evaluate it for insurance rates, Landlords, and prospective employers. However, a problem in any of the abovementioned areas will lower your score.
You can also increase your credit score; it’s not a fast process, but it can gradually lead towards progress! There are no quick fixes, but you have to manage them responsibly. For example, paying bills on time can reduce your debt load. Here are the three ways to increase your credit score:
Prepare a Credit File
You must have some active credit accounts, or you could open some credit accounts that report directly to the major credit bureaus because most credit lenders, banks, and financial institutions report to these significant bureaus. If your credit score is low, you will have a good impression as a borrower; you can start with secured cards or credit builder loans. Also, if you plan on enhancing your already good score, you can use a rewards credit card; it doesn’t have an annual fee. Being added as an authorized user on someone else’s credit card can also be helpful, only if they use their card responsibly.
Never Miss a Payment
Your payment history is one of the most crucial aspects informing your credit scores; this includes information on selected accounts such as retail accounts, loan installments, mortgages, etc. They may also go for certain public records, such as bankruptcies and foreclosures. How many one-time items on file are due, and for how long?
A long history of on-time payments will help you accomplish the perfect credit score. To achieve this, ensure you don’t miss any loan or credit card bills by more than 29 days. Payments more than 30 days late report to the credit bureau, which can lower your credit score.
As long as you are careful not to overdraft your bank account, you can also set up an automatic payment method for the minimum amount due or subscribe to reminders via e-mail or text. This will help you avoid missing a payment. If you have trouble paying a bill, discuss it right away with your credit card issuer for the available options.
Don’t Resort to Just One Type of Credit
A credit score is calculated on the number of new credits, including the number of new accounts and the percentage of new accounts versus the total number. The number of recent credit inquiries, except for promotional questions, is also considered, including the ages of new reports and their credit inquiries. The remaining part of your credit score comprises the type of credit you use, such as credit cards, mortgages, auto loans, etc.
For example, having only one kind of credit, just credit cards, can negatively influence your credit score. Using a variety of credit types can improve your score because it makes you an experienced borrower.
Conclusion
In conclusion, understanding your credit score is paramount in navigating the world of borrowing and financial transactions. Your credit score encapsulates your credit history and is critical in determining your eligibility for loans and credit extensions. While credit bureaus like Equifax, Experian, and TransUnion compile and analyze your credit information, it’s important to note that they don’t make lending decisions themselves; lending organizations utilize this data to assess risk.
Factors such as payment history, length of credit history, types of credit in use, and credit utilization all contribute to your credit score. Improving your credit score requires diligent effort, including maintaining active credit accounts, ensuring timely payments, and diversifying the types of credit you use. By adopting responsible credit management practices, individuals can gradually enhance their creditworthiness and pave the way toward achieving their financial goals.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
According to the statistics, the food service business has changed its dynamics in the past 40 years. However, there are still multiple opportunities for people wanting to start this venture. Therefore, from Italian to continental, several restaurants are starting daily operations. Opening a restaurant is the most expensive and profitable business one can have. And the harsh reality is that many restaurants fail in their initial year of business. However, this article aims to provide some handy tips to run a successful restaurant business.
Work in a Restaurant
Getting a little experience before starting a restaurant business is always better. It reduces the risk rate and helps the restaurateur work like a pro. The researcher has identified that the best way to own a restaurant is to experience work in the eatery field. By working in a restaurant, one can learn menu development, restaurant marketing, and other critical aspects of the food business. Learning about this business is the first step towards being a restaurateur.
Know Your Target Market
Knowing the target market will help owners decide on the menu according to their customers’ priorities. It will also help identify the restaurant’s location and overall ambiance. Before starting this new venture, knowing whom this restaurant will serve is essential. A restaurant that deals with parents and kids must not be attractive to teenagers. On the other hand, a restaurant with a calm and cozy atmosphere will not be appealing to family-friendly customers.
Select a Service Style and Food Concept
Before getting into this business, one of the first things that an owner should consider is what kind of service style they want to offer. The restaurant can specialize in morning brunch or breakfast if the target market is morning people. You can also arrange the setup for late-night dinner. The service style that restaurateurs may offer can be fast food or full-course meals. However, choosing the food concept for the restaurant business and the service style can go hand in hand.
Develop a Business Plan
Like any other business, a restaurant must decide its business plan. The plan must include the complete vision and mission of the company, the overall concept of designing the restaurant, and the target market. It should also have a market plan, advertising strategy, market-entry, and exit plan.
Create a Menu
The menu can decide the future of the restaurant and should define its overall theme. The menu should be within budget and attractive to the target market. When making the menu appealing and affordable, it is essential to keep revising the business plan. For instance, if a restaurateur plans to open a family-friendly restaurant, he must include a kids’ menu.
Choose a Location and Layout
After deciding on a target market, choosing the best location for them is essential. The best location is critical for the restaurant, including convenient parking and a continuous traffic flow. After deciding on the area, you must consider the ambiance and theme. The theme of the restaurant will attract the target market. Before deciding on the kitchen layout, a restaurateur must consider their menu.
Conclusion
In conclusion, while thefood service industry has significantly changed over the past four decades, aspiring restaurateurs still have ample opportunities to launch successful ventures. Despite the high costs and potential risks associated with opening a restaurant, with careful planning and strategic execution, individuals can increase their chances of running a thriving business.
This article has outlined several essential tips to help navigate the complexities of the restaurant industry. By following these tips and implementing a strategic approach to restaurant management, entrepreneurs can enhance their chances of running a successful and profitable restaurant business in today’s dynamic food service landscape.
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.
Anyone in the world can face the dread of bankruptcy. Bankruptcy is a legal procedure against a person who cannot repay the loan taken from the bank in a given period. Sometimes, the bank takes over every bankrupt person’s property and assets. The afterlife of the same can be daunting if you do not use your presence of mind to recover from the legal embarrassment. However, bankruptcy doesn’t mean your credit or bank account has crashed completely. It strictly depends upon the amount of unpaid debt. Here are the ways to help you swim hassle-free from the situation.
Analyze Your Credit Reports
Credit reports are crucial to running a stable and successful business. To save your business from potential losses, make it a habit of checking your credit report every month. If you were careless about doing so, pledge to stick to the convention in your post-bankruptcy period.
Take a follow-up of your activities like paying the bills, taxes, and many more on time. Being careful can save you from getting stuck in the tornado of bankruptcy. Take every possible measure to improve your business actions.
Ensure To File An Accurate Credit Report
Make sure that you file your credit report accurately. It will inform you about the amount of paid and unpaid debts. There is a probability that the liquidation you face is just a mistake or misunderstanding around the mark.
Review each detail very carefully. Ensure that your financial record covers every detail of the paid debt. An error of a missing entry can ease your bankruptcy claim.
Clear Your Payments on Time
Adopt the habit of clearing all your bills on time. It will help you uphold the trust of your vendors, bank, and business partners. Your payment history makes up 40% of your financial records and graphs. Don’t be a lazy bone; clear your bills as soon as possible.
Get technical support to avoid any miscalculations in maintaining the record of your paid bills and play safer. Install applications designed for the same. Choose to work smarter for a better way out.
Clearing bills and payments on time will not only help you develop a trustworthy relationship with the associated person or company, but it is also convenient in boosting your credit score.
Elude the Purchase of Costly and High Interest Products
After bankruptcy, you should take every step very carefully. Give up on purchasing high-priced and high-interest products. Once immersed in the bankruptcy case, all your rivals, business partners, vendors, and every 3rd person in the corporate market will try their best. They will urge you to purchase products and assets ready to shock you with either their high-cost or after-sales high interest.
A Secured credit Card is A Surplus
Get a secured credit card. It will be a step ahead in rebuilding your image on the bankruptcy scale. It can be a proactive measure to eliminate legal and financial claims much faster. Such cards have a credit limit of up to $250$. They will be a great assistant in clearing your payments within the given deadline. Carry out small purchases each month; it will aid you in constructing a better credit score.
Once you agree to the bank’s terms and conditions, your card will instantly be upgraded to an unsecured one.
Final Words
Being bankrupt can happen to anyone around the line. However, one has to be strong enough to overcome the margin of financial loss. The article has some recovery measures proven beneficial in surviving through the bankruptcy claim in almost 5 – 7 years. All you have to do is mend your ways, get organized, and develop a keen eye to cross-check every bit of financial details from credit transactions to premium accounting and confidential policies. Switch towards automated payments to play even brisker and safer.
Keep a personal check on each bit of minutes to avoid errors that can leave you tangled in legal claims like bankruptcy. Remember to formulate a concrete financial plan for 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 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.
People often say it is a bit cliché, but one of the substantial virtues of beginning a home business is the tax breaks you can claim. A popular belief surrounding home businesses is that aggressive and slightly exaggerated write-offs are a sure way of attracting IRS auditors. In this guide, we’ll examine some of the famous home business taxes and legitimately claim them.
Maintain a Business Journal
Being audited is not the day of judgment. However, being audited and not having the records to cover your reductions can be a nightmare. The easiest way to ignore this unpleasant situation is to journal your home business activities regularly. The more detailed your accounts are, the simpler it will be to face an audit. Compiling your regular reports into a monthly tracking sheet will drastically lessen the time it takes to combine your taxes, and it will have the additional benefit of providing a summary of your business every month.
Deducting Your Workspace
Deducting your home office can be attractive if you have tons of work restricted to a single room. You can still utilize a part of a shared room, but you determine space as a percentage of the entire house or apartment area.
You apply this percentage to all the related costs, including insurance, rent, utilities, etc. However, they never claim unrelated expenditures as they make the IRS suspicious.
Update Your Inventory
Office furniture, software, inventory, and laptops are all completely deductible within the same year you incur the cost, and you don’t need to depreciate. There’s an upper limit, and you must primarily use these purchases to benefit the business.
Savings for Retirement
If you work individually for your home business, you’ll probably have to pay for your employer’s insurance and social security. However, you can reduce half the amount from the total payments for you and other helpers as part of the retirement fund.
Strong Communication
If communicating with customers is a necessary part of your business, getting a verified business phone number or a second phone line might be worth it, as both are utterly deductible. However, if you only contact the customers occasionally, it would still be feasible to dismiss the costs by dates, time, and causes for the calls and then highlight the items on your regular phone bill to subtract at the tax time.
Get Connected
Like the call bill, you can reduce part of your internet cost if you use it for business purposes. There’s no definite percentage to utilize, but it will be hard to ignore that more than 50% of your other family members are accessing it for personal references. Be reasonable and pick a sustainable percentage that you won’t regret in case of an audit.
Entertainment
You can entertain customers and get a tax break. The tendency for business owners at every stage has scared off many entrepreneurs from claiming it. However, it is acceptable for you to take customers out for some entertainment or a business dinner. It will be easier to fascinate a client who has brought you a lot of business.
Employ Your Family Members
Being a home business owner, you can assign your family members as employees and subtract their salaries as long as you can account for their services and pay rate. If you’re a business that accepts the benefits of relatives, then you must utilize that labor pool. You’ll probably spend less than market rates for the assistance.
As an additional bonus, children under 18 don’t sustain the Social Security taxes, but you can still teach them to work ethics and saving habits.
Make Legitimate Deductions
The most significant pointer has been a theme, but it’s worth replicating. Just because you’re running a home-based business doesn’t mean you can go insane with the deductions. If you don’t think of communicating with an auditor with evaluated proof justifying the deductions, then perhaps it shouldn’t be the deduction you can consider.
Conclusion
In conclusion, while the allure of tax breaks for home businesses is undeniable, it’s essential to approach deductions with caution and integrity. Maintaining meticulous records and adhering to legitimate guidelines is paramount to avoid any complications with the IRS. From deducting your workspace to leveraging family members as employees, there are various opportunities to optimize your tax situation within the bounds of the law.
However, exercising prudence and restraint is crucial, ensuring that each deduction is well-documented and directly related to your business activities. By following these principles, home business owners can navigate tax season with confidence and peace of mind, maximizing their savings while remaining compliant with regulatory requirements.
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.
Invoice payments frequently relate to payment periods. They’re contracts that spell out your payment expectations, such as when the client must pay you and the consequences of missing a payment. Transparent payment conditions can help you get paid and make your customers’ billing process easier to understand.
Payment terms are critical because accurate cash flow estimates require knowing how much money will touch your account and when.
When deciding on payment terms for your small business, keep in mind that extending them for too long may threaten your company’s future.
What Makes You Think That?
Depending on the sector, you may be paid in days or months. Restaurant proprietors, for example, are usually compensated within 1-2 days, whereas construction businesses may take up to 90 days to receive payment. That may be OK for significant corporations that can afford to prolong payment terms to their customers, but a lack of cash flow could cause small enterprises to fail.
It’s easy to dismiss payment terms as minor details that no one will read. However, this viewpoint will not serve you well in the long run. Avoiding payment terms totally or accepting poor terms that fail to express any meaningful bounds leaves you at risk of being taken advantage of. Furthermore, the practice of declaring invoices as “paid” before they have been will be exceedingly perplexing.
Businesses track the money that flows in and out as cash flow. A company’s cash flow is positive when it has a consistent income stream larger than its debts. A negative cash flow occurs when a company’s debts exceed its income.
By specifying payment terms in each sale, you can ensure that your firm has a consistent, positive cash flow. Your business will not minimize overdue fees if you make consistent, regular payments using proper payment terms. This will also ensure that you can continue making profitable investments.
If you don’t provide clear payment terms, your consumers may forget (or purposefully delay) payments. Our remote bookkeeping services can assist you in maintaining a regular cash flow.
As Per the Research
Eighty percent of small business owners are concerned about their financial flow.
More than half of small business owners cite Late customer payments as the leading source of cash flow problems.
Sixty-two percent of small business owners have no idea how much money they get each month.
Fifty-eight percent of small business owners said they made the wrong business decision because they were worried about cash flow.
One of the most important things you can manage is how and when you receive payments as a business owner. Taking control of this produces a much more stable financial route for your company, allowing you to pay suppliers, employees, and other vendors on time.
Typically, a company will not see an issue with its invoice payment terms until too late. When you have a cash flow problem and can’t pay your suppliers, staff, or other bills, you might be in a financial bind.
Optimizing Payment Terms for Improved Cash Flow and Client Relationships
Payment terms of 30 days were standard in the past. Thanks to technological advancements and a decreased reliance on mail and check payments. However, payment terms of this nature are no longer necessary. In practice, the shorter your payment conditions, the more likely you will be paid quickly.
Even if you mention that your payment conditions are a week, it’s doubtful that you’ll receive payment so quickly. However, if you give clients four weeks to pay, you should still get paid sooner. Quicker payment times will increase your company’s cash flow and lessen the demand for debt collection.
Many organizations continue to employ lengthier invoice payment periods because they believe this is what their customers expect. However, around three-quarters of invoices now request payment within two weeks. You may even offer customers a discount if they pay you sooner.
Setting up an invoicing procedure with specific payment periods is critical for business accounting. Payment terms prioritize your payments and establish expectations for your consumers, resulting in more professional and productive client relationships.
Conclusion
In conclusion, establishing clear and reasonable payment terms is crucial for any business’s financialhealth and stability. These terms outline when payments are expected and help maintain a positive cash flow, which is essential for meeting financial obligations and making strategic investments. By clearly defining payment expectations, businesses can minimize cash flow problems and reduce the risk of late payments, ultimately fostering stronger and more professional relationships with clients.
Additionally, shorter payment periods can expedite cash flow and reduce the need for debt collection efforts. As businesses adapt to modern payment methods and expectations, setting up efficient invoicing procedures with clear payment terms becomes essential for effective financial management and sustainable growth.
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.
Back to the time when receiving paper statements from your potential bank was the norm rather than an abnormality, taking the time to balance your checking account records with your statement every month was a sign of keeping your finances healthy.
Now that you can frequently access all of your cash transactions via your bank’s online portal, you might assume that balancing a checkbook is a hectic chore that has lost its usefulness completely. However, manually balancing the checkbook is still a mandatory part of maintaining your checking account.
If you use a checkbook, it is essential to keep it balanced. Balancing a checkbook is far easier than we think, requiring only facile addition and subtraction details. Balance your checkbook by recording all cash transactions to your bank account. Divide cash transactions into two categories, mainly deposits and withdrawals. These factors highly influence the addition and subtraction process. Balancing a checkbook refers to knowing the exact amount of cash in your bank account to make the related decisions without errors. Follow the below steps to understand how to balance a checkbook.
Recording Your Cash Transactions
The initial step of balancing a checkbook is to list every cash transaction as it occurs. Every check you write and deposit you make, including debit card swipes, ATM withdrawals, and curricular bank fees, will be enlisted in the records. Always maintain a running balance by reducing the withdrawals and adding the credits.
Reviewing the Monthly Bank Statements
The second step is to update the checkbook register upon receiving the monthly bank statement. Start with the report’s top and work to the end, one transaction at a time. As you spot the cash transaction in your checkbook journal, place a checkmark in the provided column.
Once you carefully review the bank statement, you can spot any missing information from the checkbook register. For instance, if you instantly grabbed $30 at the ATM to update it in the journal later but then forget, you’ll notice the cash transaction listed on the bank statement but not on your register. You can later add that cash amount to your journal to correct the balance.
Address Existing Issues
When your balances don’t match, go through every transaction and carefully determine the occasional errors. Making mistakes is human nature, especially when trying to make calculations in your head. Ask a bank representative for assistance if you cannot locate the variations.
Draw a Line in Your Journals
Now that you’ve balanced the checkbook journal draw a line under the last cash transaction. Also, you can label the available space in the front with the date. This will make locating the beginning point for your upcoming bank statement easier when you receive it.
Register Your Bank Statement
The final step includes registering your bank statement for protection purposes. The IRS suggests saving key documents for up to seven years. Since banks must keep your account records for five years, you might not want to rely on electronic records forever.
Importance of a Balanced Checkbook
You might wonder why maintaining a checkbook register is essential if you can quickly get an update through online banking portals. These services won’t update you with your outstanding checks, precisely the ones you made but didn’t process by the banks.
Why Should We Maintain a Checkbook Regularly?
Balancing a checkbook is an outdated task, and the quick services of online banking portals have made tracking cashtransactions much more effortless.
Truthfully, no one likes to record cash transactions and deposits manually every month. Indeed, online applications can help you manage your money quickly. However, there are still a few possible reasons why manually balancing the checkbook is a productive part of your financial regime. You might need to backtrack further if you don’t review your checkbook correctly.
Conclusion
In summary, while online banking has made it easier to access and track financial transactions, manually balancing a checkbook remains crucial to maintaining a healthy financial status. The process involves recording all cash transactions accurately, reviewing monthly bank statements, addressing discrepancies, and registering statements for long-term record-keeping. Despite the convenience of online banking, manually balancing a checkbook ensures that all transactions are accounted for and helps identify any discrepancies or errors that may arise.
Additionally, it provides a comprehensive overview of outstanding checks, offering a more accurate representation of available funds than online banking portals alone. Thus, while it may seem outdated, balancing a checkbook remains essential to personal financial management, offering peace of mind and financial clarity in an increasingly digital world.
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.
Seamless Migration: From Spreadsheets to CRMs Made Easy
Spreadsheet to CRM migration is the process of transferring your customer data, sales records, and business information from spreadsheets like Excel or Google Sheets into a dedicated Customer Relationship Management system, enabling automated workflows, centralized data access, and scalable growth for your business. This transformation involves data cleanup, field mapping, testing, and team training to maximize your new system’s value.
I’ve spent over 20 years as CEO of Complete Controller working with businesses across every industry imaginable, and I’ve witnessed the exact moment when spreadsheets stop being helpful and start becoming harmful. That moment usually arrives when a company loses a major deal because two salespeople contacted the same prospect, or when preparing a simple sales report takes an entire afternoon. The good news? Migrating to a CRM can boost your sales productivity by 34% and deliver an average return of $8.71 for every dollar spent. In this guide, you’ll learn the exact steps to clean your data, map your fields correctly, avoid the pitfalls that cause 70% of migrations to fail, and train your team for rapid adoption.
What is spreadsheet to CRM migration, and how do you get it right?
Spreadsheet to CRM migration transfers customer data, sales records, and business information from Excel or Google Sheets into a centralized CRM platform
Data cleanup removes duplicates and standardizes formats before importing to avoid corrupting your new system
Field mapping connects spreadsheet columns to CRM fields so no critical information gets lost during transfer
Test imports with small data samples identify problems before they affect your entire database
Team training on the new CRM platform drives adoption rates and maximizes your migration investment
Why Businesses Outgrow Spreadsheets (and When to Make the Leap)
The data speaks volumes about spreadsheet limitations. Research shows that 94% of business spreadsheets contain errors, with an average of 1.8% of all formula cells containing mistakes. These aren’t just minor inconveniences—they’re business-critical problems waiting to happen.
Public Health England learned this lesson dramatically in 2020 when they nearly lost 16,000 COVID-19 case reports. They used an outdated Excel format (.XLS) that maxes out at 65,000 rows, while modern testing was generating far more data. When the file hit its limit, thousands of cases vanished from official counts, delaying contact tracing and public health responses. If spreadsheet limitations can impact public health on this scale, imagine what they’re doing to your sales pipeline.
Signs you’ve outgrown spreadsheets
Multiple team members edit the same file, creating version control nightmares
Finding specific customer information takes longer than the actual customer interaction
Sales reps waste hours on data entry instead of selling
Monthly reporting requires days of manual compilation
You’ve discovered duplicate entries for the same customer across different sheets
Why CRM is a game changer
Modern CRM systems transform chaotic data into organized intelligence. Companies using CRM report a 29% increase in sales and save each sales rep an average of 18 hours per week on administrative tasks. These systems provide real-time dashboards, automated follow-up reminders, and mobile access that keeps your team productive anywhere.
The security benefits alone justify the switch. While spreadsheets sit vulnerable on local drives or shared folders, professional CRMs offer enterprise-grade security, audit trails, and role-based permissions that protect your customer data and meet compliance requirements.
Step-by-Step: Your Complete Spreadsheet to CRM Migration Checklist
Success requires methodical planning, not rushed execution. With 20-70% of CRM projects failing and 80% of data migrations missing their deadlines or budgets, following each step carefully makes the difference between transformation and disaster.
Before starting any migration, understand that poor planning causes 42% of failures, bad data quality accounts for 31%, and team resistance adds another 27%. This checklist addresses all three risk factors systematically.
Cleaning and auditing your data
Start by creating a complete backup of all spreadsheets in multiple locations. Then tackle the cleaning process:
Eliminate duplicate entries using Excel’s built-in tools or manual review
Standardize data formats (phone numbers, addresses, company names)
Fill in missing required fields or remove incomplete records
Archive old contacts who haven’t engaged in over two years
Verify email addresses using validation tools
Data cleaning typically takes 40-60% of your total migration time, but skipping this step guarantees problems later. One client discovered 3,000 duplicate contacts across their sheets—imagine the confusion that would have caused in their new CRM.
Mapping spreadsheet columns to CRM fields
Create a detailed mapping document that shows exactly where each piece of information will live:
Match standard fields first (name, email, phone, company)
Identify custom fields your CRM needs to create
Decide how to handle multi-value cells (like multiple phone numbers)
Plan for data that doesn’t have an obvious CRM home
Document any data transformations needed (like splitting full names)
Pro tip: Print your mapping document and keep it handy during import. You’ll reference it constantly.
Back up and test your import
Never attempt a full import without testing. Create a test spreadsheet with 20-30 representative records that include:
Standard contacts with complete information
Edge cases with special characters or formatting
Records with custom field data
Contacts with maximum data in all fields
Run this test import and verify every field mapped correctly. Fix any issues in your mapping or data format before proceeding. This small investment of time prevents massive headaches later.
Executing full migration and verifying data
With successful testing complete, execute your full migration in logical batches:
Import your most recent, active contacts first (last 12 months)
Add historical data in chronological chunks
Verify each batch before importing the next
Check total record counts match your source data
Spot-check 5-10% of records for accuracy
Run reports to identify any missing data
Post-migration, assign team members to review their specific accounts or territories. They’ll quickly spot any issues with their familiar data.
Case Study: CloudMetrics Transforms Their Sales Process
CloudMetrics, a 12-person SaaS startup, was hemorrhaging $2,340 monthly on an overcomplicated CRM while their sales team struggled with manual data entry. They executed a spreadsheet-to-CRM migration in just four weeks, moving to an AI-powered platform that cut their costs to $647—a 73% reduction.
The results went beyond cost savings. Each sales rep reclaimed 18 hours weekly from administrative tasks. Within six months, annual revenue skyrocketed from $800K to $2.05M—a 156% increase. Their secret? They spent two weeks cleaning data before migration, partnered with an experienced vendor, and ran parallel systems for one week to verify everything worked perfectly.
Choosing the Right CRM (and Avoiding Buyer’s Remorse)
Selecting your CRM platform shapes your business operations for years. Focus on these non-negotiable features that matter most for spreadsheet refugees.
What to look for in a CRM as an ex-spreadsheet user
Your new CRM should feel like a natural evolution, not a foreign language:
Intuitive data import tools with clear error messages
Visual pipeline management that mirrors your sales process
Bulk editing capabilities for quick updates
Excel export options for comfort during transition
Strong customer support during onboarding
Avoid platforms that require extensive technical knowledge or coding. If the sales team can’t use it independently within two weeks, it’s too complex.
Features that matter most: An expert’s take
After helping hundreds of businesses migrate, these features consistently deliver the most value:
Mobile accessibility: Your team works everywhere—your CRM should too
Automated workflows: Set up follow-up sequences once, execute forever
Real-time reporting: No more waiting for month-end to know your numbers
Integration ecosystem: Connect with your email, accounting, and marketing tools
Customizable fields: Your business is unique—your CRM should adapt
Price matters, but the cheapest option often costs more in lost productivity. Budget for a system that grows with you.
“What If Something Goes Wrong?”: Common Migration Mistakes and How to Recover
Even careful planning can’t prevent every issue. Understanding common problems helps you recover quickly when they occur.
The most frequent pitfalls (and how to prevent them)
Three mistakes cause most migration failures:
Skipping backups: Always maintain your original spreadsheets in multiple locations. Cloud storage, local drives, and even printed copies of critical data provide insurance.
Rushing field mapping: Mismatched fields create data chaos. That “Notes” column might contain deal values, contact preferences, or follow-up dates. Map thoughtfully.
Ignoring test results: Finding 10 errors in your test import means your full import will have hundreds. Fix test issues completely before proceeding.
Quick fix guide
When problems strike, stay calm and systematic:
Most CRMs offer “undo” or rollback features for recent imports
Restore from your backups if data corruption occurs
Contact CRM support immediately—they’ve seen every possible issue
Consider hiring a migration specialist for complex recoveries
Document what went wrong to prevent repetition
Training Your Team: How to Ensure CRM Success from Day One
Technology succeeds when people embrace it. Your team’s adoption determines whether your CRM becomes a powerful asset or expensive shelf-ware.
Practical onboarding steps
Structure training around daily workflows, not features:
Start with the basics everyone needs: finding contacts, adding notes, updating information
Create role-specific training paths (sales focuses on pipeline, service on tickets)
Build cheat sheets for common tasks with screenshots
Assign CRM champions in each department for peer support
Schedule weekly check-ins during the first month
Make the first week about comfort, not comprehensive knowledge. People learn better when they’re not overwhelmed.
Set clear expectations about CRM usage from day one. This isn’t optional—it’s how your business operates now. But pair requirements with support. When someone struggles, help them succeed rather than punishing mistakes.
How Secure Is Your Data? Key Compliance and Trust Factors
Data quality and cybersecurity become critical when centralizing customer information. Your CRM holds the keys to your business relationships, making security non-negotiable.
Data privacy best practices
Choose CRM platforms with recognized security certifications like SOC 2 Type II or ISO 27001. These aren’t just badges—they represent rigorous third-party audits of security practices.
During migration, limit access to sensitive data. Not everyone helping with data cleanup needs to see revenue figures or personal information. Use your CRM’s permission settings to control visibility from the start, following the same remote work security principles that protect distributed teams.
Maintaining audit trails and accountability
Unlike spreadsheets where changes vanish without trace, CRMs log every modification. Enable comprehensive audit trails that track:
Who changed what data and when
Login attempts and locations
Data exports and report generation
Permission changes and user additions
These logs prove invaluable for compliance, troubleshooting, and training. They show exactly how your team uses the system and where additional support might help.
Final Thoughts: Your Path from Spreadsheet Chaos to CRM Success
I’ve guided countless businesses through this exact transformation, and my advice remains consistent: invest time in data preparation, test thoroughly, and support your team through the change. The companies that rush inevitably spend more time fixing problems than those who proceed methodically.
Your spreadsheets served you well, but your business has outgrown them. That’s success, not failure. Now it’s time for tools that match your ambition. Start with data cleanup this week, research CRM options next week, and plan for migration within 60 days. The sooner you begin, the sooner you’ll wonder how you ever managed without proper customer relationship management.
Ready to transform your business operations and join the companies seeing 156% revenue growth after migration? Visit Complete Controller to connect with our team of experts who specialize in helping businesses like yours modernize their systems and scale efficiently. We’ll guide you through every step, from choosing the right CRM to training your team for long-term success.
Frequently Asked Questions About Spreadsheet to CRM Migration
What is the simplest way to migrate from Excel to a CRM?
Start by cleaning your spreadsheet data to remove duplicates and standardize formats. Then map each spreadsheet column to corresponding CRM fields, use your CRM’s built-in import tool with a CSV file, and always test with 20-30 records first to catch any mapping errors before importing your complete database.
Can I import all types of spreadsheet data (contacts, deals, notes)?
Most CRMs successfully import standard contact information, company data, and deal records through their regular import tools. Custom data like detailed notes, historical communications, or complex relationships may require manual field mapping or working with the CRM’s support team to create custom import templates that preserve all your information.
What are the risks if I skip data cleaning?
Skipping data cleanup virtually guarantees you’ll import duplicate contacts, outdated information, and formatting errors that multiply across your system. Since 94% of business spreadsheets contain errors, these problems compound in a CRM, leading to confused sales teams, embarrassing customer interactions, and reports you can’t trust for business decisions.
Is my data safe during migration?
Your data remains safe during migration when you follow security best practices: create multiple backups before starting, use secure transfer methods (avoiding email), choose CRMs with SOC 2 or ISO 27001 certifications, and limit access during the migration process to only essential team members.
How long does a spreadsheet to CRM migration usually take?
Basic migrations with clean data and fewer than 1,000 contacts can be completed in 2-4 hours, while complex migrations involving multiple data types, custom fields, or over 10,000 records typically require several days to a week including data cleanup, testing, import, and verification phases.
Sources
Buopso. (2024). CRM Migration Guide: From Excel to Advance CRM. https://buopso.com
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.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
When a person needs money, seeking a line of credit is probably the last thing that occurs to them. What comes to his mind is usually going to a bank for conventional, fixed, or variable rate loans, utilizing credit cards, borrowing from friends and relatives, or turning to donating organizations on the web. In extreme circumstances, there are payday lenders or pawnshops available.
Businesses have been utilizing credit lines for decades to meet working capital requirements or the advantages of strategic investment opportunities, but they’ve never suited the individuals. This is because banking institutions often don’t promote credit lines, and potential lenders don’t think of asking. The only line of credit that might appear is a home equity credit line or the HELOC, but the borrower’s house secures this loan and has its risks and faults.
Understanding Line of Credit
A line of credit is a flexibleloan from a bank or another financial institution. Unlike a credit card, which provides a limited amount of funds that you can utilize at your convenience, a line of credit is a fixed amount of funds that you can access as required and repay instantly or over a specific period. Like a loan, a line of credit charges an interest rate as soon as you borrow cash.
Remember that the interest rate usually varies, making it less predictable what the borrowed money will cost you. However, lines of credit generally have a lower risk than credit card loans. Still, they complicate the system as the outstanding balances become uncontrollable after a line of credit is approved.
They identify banks that are not overwhelmingly interested in underwriting single personal loans, which are undoubtedly unsecured for most clients. Similarly, it would not be feasible for a borrower to get a loan once a month, repay it, and then apply for it again. Lines of credit provide solutions for both issues by making a particular amount of money available when the borrower requires it.
How to Achieve Credit for Personal Purposes
It is imperative to comprehend the credit scoring landscape to achieve financialsuccess and freedom. During the lending phase, your credit profile reflects your creditworthiness. Generally, attaining a line of credit is hard without primarily maintaining a versatile credit profile. However, qualifying for credit is mandatory for personal use. Here’s a list of pointers for building a sound profile.
Getting a Secured Credit Card
The first step is to apply for a secured credit card. However, the individual will have to deposit a certain amount later to be used as security against a deposit. Due to the higher risk, most secured credit cards have higher fees and penalties. This option is flexible for individuals looking forward to growing their credit score. You’ll have a sound credit score after using the credit card wisely for six months.
Become a Legalized User
Becoming a legalized user on a productive account can enhance your creditworthiness. Indeed, the more active your report, the merrier your credit scores will be. If the primary credit card user lists you as a legalized user, the original credit cardholders will also reflect their positive credit on your credit score.
Apply for a Retail Credit Card
Clients often find it easier to qualify for a retail credit card than other forms of credit. Retail cards generally offer lower limits and higher interest rates, so stay aware of them. If utilized responsibly, a retail card is a valuable link in developing a credit profile.
Get an Endorser or Become One
As an endorser, you are mutually responsible with the other endorser for a sum of loans over an extended period. Endorsers generally apply for mortgages, auto loans, or substantial personal loans. However, it is essential to acknowledge that these loans can take years to pay off. Such circumstances require you to consider your relationship with the individual you’re applying with, such as your ability to make payments over a long period and how it can influence your future financing obligations.
Conclusion
In conclusion, while seeking a line of credit might not be the first option for individuals needing money, understanding its potential benefits can be crucial for achieving financial flexibility and success. Unlike conventional loans or credit cards, a line of credit offers a flexible borrowing option that can be accessed as needed and repaid over time. By understanding how lines of credit work and taking steps to build a strong credit profile, individuals can increase their chances of qualifying for personal lines of credit.
Whether through secured credit cards, becoming a legalized user, applying for retail credit cards, or considering an endorser, there are various strategies to improve creditworthiness and access lines of credit for personal use. With proper financial management and responsible borrowing, individuals can leverage lines of credit to meet their financial needs and achieve greater economic freedom in the long run.
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 COVID-19 pandemic reshaped global society in many ways. From reduced restaurant dining to near-no theaters and cinemas, entertainment quite literally has evolved for all. So have other industries. One of the major paradigm shifts that the COVID-19 pandemic caused was the work environment. Millions of companies shut down and had to implement remote work on short notice, increasing the need for more robust and secure network connectivity.
While companies worldwide are gradually opening, many adopt the hybrid work culture, which allows employees to spend a part of their working week working remotely. There still are countries where strict work-from-home protocols are in place in the wake of the coronavirus variant spreading havoc.
While the remote working model has made life easier for both employers and employees, it has also presented us with its fair share of concerns. The topmost concern is cyber security. With the increased dependence on the internet, companies’ crucial data is also prone to hacking and data leakage. Last year alone, approximately $4.2 million was lost by businesses due to data breaches.
If you are among those worried about the potential threats of the remote working model, worry no more. Here’s a thorough guide on how to stay secure while embracing work from home.
Get a Strong Virtual Private Network (VPN)
Before you give your employees access to work from home, get a solid VPN to secure their remote connections. Opt for a VPN with a layer two tunneling protocol, and ensure your employees update their passwords frequently.
Make Sure Your Employees Have Updated Hardware
Obsolete systems like Windows 7 and earlier versions no longer need security updates. Your employees working remotely must have the most updated hardware. In addition to being up-to-date, ensure the devices are protected biometrically, and your employees use super-strong passwords and 2-factor verification wherever possible. Install and update anti-virus programs frequently.
Ensure You Connect on a Secure Network
If you don’t have a VPN, connect to your workplace through a secure network. Do not use public networks at any cost. If you link from your Wi-Fi, secure the WLAN and ensure your neighbors cannot see it.
Use The CRM for Data Management
Do not share data analysis or lead reports in an Excel sheet. Use a professional CRM tool for all such data transfers. Professional CRM tools not only restrict unreported access to company data by your employees but also minimize the risk of losing potential leads. If you don’t have a proper CRM, now is the time to get one and automate your data protection.
Opt For Cloud-Based Solutions
It would be best if you opted for cloud-based solutions. Get your employees to download project management apps or use Google Docs or Google Sheets to share the data with your team members. Cloud-based solutions are very effective if you don’t want to hand over your data to any employee. They not only keep your data secure but also allow access to it at all times, are very flexible, and offer threat prevention and threat mitigation.
Set Strong & Unique Passwords
Strong and unique passwords are complicated and almost impossible to crack, so your employees must use them for Wi-Fi connections, remote connections, and user accounts. It is also vital that your employees frequently change their passwords to avoid data theft. You could use a single sign-up option for all your devices or one of the many password management tools to keep all your passwords in one place.
Develop a Bilaterally Encrypted Remote Work Solution
Buy one, or get your IT and software guys to develop an encrypted, remote work solution. Ensure that your employees can only access official documents through that system, and it doesn’t allow data transfer at all, thus keeping all your data safe.
Conclusion
In conclusion, the COVID-19 pandemic has drastically changed our work, with remote work becoming the new norm for many industries. At the same time, this shift offers flexibility and convenience but raises significant cybersecurity concerns. To mitigate these risks, companies must invest in robust security measures such as VPNs, updated hardware, secure networks, CRM systems for data management, cloud-based solutions, strong passwords, and encrypted remote work solutions. By prioritizing cybersecurity, businesses can ensure the safety of their sensitive data and maintain operational efficiency in the remote work environment amidst evolving global challenges.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
When we have a traffic accident, either as a driver or as a passenger, regardless of whether we were at fault for the accident, it is a tough time, and in most cases, we are confused about the steps we must follow.
No matter how many precautions you take, any person traveling in a vehicle can be involved in an accident. When an accident happens, knowing how to react and keepingcalm as much as possible is essential.
Not all traffic accidents occur under the same conditions, so we must adapt to each specific situation. Next, we will explain the steps we must follow in each case.
Signaling of the Accident
In an accident, we first must signal the accident properly to avoid having more accidents.
When There are Injured
When someone is injured in a traffic accident, after signaling the accident, we must address the victims and call the health services. Although the injuries or pains are minor and a priori have no significance, it is essential to contact the health services to record the injuries or ailments of those involved and evaluate them.
Call the Police or the Civil Guard
If it is a minor accident, it is not necessary to call the Police or the civil guard. Still, on other occasions, it is essential for them to regularly manage traffic again, collect the data and statements of the persons involved and witnesses, and record the facts of the accident to facilitate future compensation (if any).
Fill in the Friendly Part
Whenever we participate in a traffic accident, we will try to complete the accident report in a friendly manner. We must ensure we have completed the fields correctly and signed where appropriate. The explanation of the accident is transparent so that the insurance does not have any confusion about who the culprit is.
Suppose the parties to the accident do not reach an agreement or there is a confrontation. In that case, they should call the authorities, either the Police or the civil guard, so that the agents can determine the causes of the incident and make a report. The certificate is considered evidence to determine who is to blame for the accident.
Give the Share to the Insurer
We will have to inform our insurer that the accident occurred within seven days of its occurrence. When giving the part to the insurance, we must contribute all the medical reports, the pacifist position, and our testimony of the facts.
If the insurance were contracted through an insurance brokerage, such as Walnut Insurance, we would have more support and better advice when claiming compensation or giving the party to the insurer. Since from the insurance brokerage they can advise us of the steps to follow and the deadlines.
If we do not cause the accident, we will have six months to establish a criminal complaint against the other vehicle’s driver. If the fact is not constitutive of a crime or offense and the complaint is dismissed, we will have one year (from the end of the criminal procedure) to file a civil claim.
How Do You Claim Injuries From a Traffic Accident?
If you have suffered injuries after a traffic accident, you are entitled to compensation. To claim this compensation, we can do it in two ways:
Extrajudicial route: in this case, the injured party negotiates directly with the insurer until they reach an agreement.
Judicial route: we will go to court if an agreement is not reached or if the act constitutes a crime or offense. In this case, the judge sets the amount as compensation the insurer will pay the injured.
How Do You Claim the Material Damages of a Vehicle?
When the vehicle itself has suffered damage in a traffic accident, we must give the part to our insured within seven days after the accident. Once the region has been delivered, the insurer will send an expert to assess the vehicle’s damage.
As we have said before, if we had contracted the insurance through an insurance brokerage, we could ask the brokerage for help to process the part and the necessary documents after a traffic accident.
Conclusion
In the aftermath of a traffic accident, whether as a driver or passenger, navigating the ensuing confusion and steps can be daunting. Accidents can happen to anyone despite precautions, emphasizing the importance of remaining calm and knowing how to react. As each accident is unique, adapting to the specific circumstances is crucial. From promptly signaling the accident to addressing injuries and involving authorities when necessary, a systematic approach is essential. Completing accident reports aids insurers in determining liability.
Seeking support from insurance brokerages like Walnut Insurance streamlines the claims process, offering valuable guidance and assistance. Whether pursuing compensation for injuries or material damages, understanding the avenues available, from extrajudicial negotiations to legal recourse, is vital. Ultimately, timely action and informed decisions mitigate the challenges of post-accident procedures, ensuring a smoother path to resolution.
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.
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.
