Bank reconciliation predominantly refers to matching your records against the bank registers. A monthly reconciliation ensures that you are aware of any sporadic transactions, which may have taken place without your consent.
The best way to reconcile the accounts is by going through each record individually and matching it with your bank statement. This reconciliation ensures that you have not missed anything and everything has been accounted for. You may see minor differences in the ending balances due to certain outstanding checks or other reasons. Therefore, consider them so that you do not see them as errors.
Why Bank Reconciliation is Important
Reconciling your bank accounts regularly keeps you out of trouble in many ways. You can identify the problems before it is too late as you are constantly monitoring cash flows. It is thought that business accounts do not have the same amount of protection that consumer accounts do. Therefore, you are advised to keep a close eye on these accounts yourself. Here are some reasons that may persuade you to consider reconciliation from time to time.
Catch Fraudulent Activities
One of the critical purposes of reconciling your accounts is to catch potential frauds. If you have issued any legitimate checks, you need to ensure that they are used strictly as you thought they were to be used, and there are no duplications or alterations. If there has been unauthorized access to your account, you need to know before something harms you.
Prevent Complications
The bank reconciliation process is also helpful in identifying any potential hazards or problems in time. Sometimes, your cash flows are down, or you are having trouble recovering the accounts receivables. In such situations, reconciling everything can guide you in the right direction by identifying the problem source. Once the problem is identified, you can take measures to fix it and, along with that, fix your cash flows and receivables. It also helps you develop a bookkeeping system that is free of errors and more efficient.
Along with assisting you in identifying the balances in all of your accounts, bank reconciliation helps you avoid bank fees due to insufficient funds. It saves you from opening too many lines of credit when you don’t need them. You can keep track of outstanding checks and see if any payments by your customers have bounced.
When Should You Reconcile?
There is no fixed time to reconcile your bank accounts, as you can do it anytime you want, depending on your preference. However, it is recommended to reconcile all of your accounts at least once a month so that you have an accurate picture of your current standing as a business or individual. Some high-volume companies even reconcile every week as they are involved in many daily transactions, which can pile up if they wait an entire month.
You can also use Positive Pay for bank reconciliation. This means that any payment in or out of your account must be notified to them in advance. This helps save you from any fraudulent activities.
How to Reconcile
It does not matter whether you take a formal or informal approach to reconciliation, as the primary purpose is to match each transaction with your accounts balances. You will have to closely inspect your records and the bank records and compare the balances at the end of a self-defined accounting period.
Your bookkeeping system is essential in this regard because, if it’s properly managed, you will be able to match everything without much hindrance. However, bank reconciliation can become an arduous task if you do not have a well-maintained accounting system. Automating and integrating your accounting system with the bank can ease the whole process as you can have access to updated records at all times.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Every business aims to grow; an influx of money helps a business move forward towards its goals. Obtaining a small business loan is a prodigious way to finance the progress and expenses of a business. However, there are certain crucial aspects that one should contemplate before applying for loans.
Getting a business loan is not essentially an intricate process. However, if you are better prepared for it, your chances of approval are heightened. Following the basic steps and electing a lender that focuses on small and medium enterprises can make your business funding quite simple.
Many different lenders offer small and medium businesses the opportunity to grow by providing them friendly loans. Here are some of the essential steps that must be followed when applying for a business loan.
Small Business Loan – Essential Steps
Create a Sold Business Plan
Whether your business has just appeared on the market or has been around for a while, a solid business plan is essential to convince lenders to issue a loan. It states the critical aspects of your business and what your business is all about.
Your mission and goals must be mentioned in the business plan; this allows the lender to assess the nature and potential of your business. Your business plan must highlight how your company plans to pay back its small business loan in due time with interest.
Many business owners are tempted to skip this step as they consider it to be an unnecessary burden. Don’t make that mistake. Put some effort into noting every facet of your business plan in detail and update it as time goes by.
Spotless Accounting Records
As important as a business plan may be, your accounting records are also an essential measure of your financial standing. Lenders will imperiously look into your balance sheets, income statements, cash flows, and other financial records to assess riskiness before offering you a small business loan. Apart from financial sheets, they will also see if the company is making any profits and look at their debt ratios to see how the business has performed in the past.
If something is missing in the records, you have no way of proving that it exists or existed, and the loan officer looking at it will not be convinced to hand out a loan to you.
Maintain and Track your Credit Score
With the growth of many online lending options and other means to secure loans, lenders are thinking outside the box to verify the credibility of loan seekers. However, a credit score remains one of the most crucial aspects in determining the worthiness of a business.
A score of 700 plus is considered excellent, while 600 plus still offers you plenty of options. Below that, you have limited options and, depending on the case, a small business loan may be approved.
Some people have no idea of their credit score because they haven’t bothered to check it in a long time. It can be a big mistake because your credit score is still considered to be the most reliable factor in assessing the riskiness of an individual or a business. Therefore, ensure that your credit score doesn’t go haywire and track it often.
Determine the Use of the Loaned Amount
Disclosing what you will be using the loan amount for may sound like something personal you are unwilling to disclose, but it can be very advantageous to approve a small business loan. Small businesses do not usually have a market reputation. Therefore, lenders might be unsure about your plan of action.
Telling them how you plan to use the loaned amount will help them evaluate your business’s expected profitability, which ultimately means that you can pay back the loaned amount. Lenders have a team of experts who are adept at handling various clients with multiple declared purposes for a loan. These experts usually make accurate predictions of a business.
Following the guidelines mentioned above to obtain a small business loan will increase your chances of approval. It is best to declare truthful information about your business to ensure that you do not land in any trouble later on.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Do you have a great business idea for the ‘next robust company’? If so, you may be thinking that your idea is simply perfect and powerful the way it is. However, it would help if you weighed it before investing your time, money, and resources into developing a business, service, or product prototype for which there is no apparent need or value in the market.
You could be putting yourself in a devastating position if you spend all of your assets, consume credit cards, and take bank loans for your startup, only to see that it is useless.
Failing to evaluate your business idea could result in a significant loss if it backfires. It is just like reporting transactions in the books of the financial accounts of a company. If you make material blunders in bookkeeping, you harm the business significantly. Here are four of the simplest tests to determine whether your idea is worth investing in.
Show Patience and then Build a Test Service or Product Prototype
Although you are excited and confident about your unique business idea, you must show patience. When you have several idea opportunities rushing around in your head, avoid getting in a rush to make a business plan or hire a team. You can wait a few weeks to figure out which exact idea is genuinely suitable. Move forward with an idea only when you have a burning feeling and intuition that the world immensely needs your idea as a product or a service.
Once you have patiently completed your plan, perform the most straightforward test of building a prototype based on your idea and present it to a general audience to obtain their authentic and honest comments. If their eyebrows go up and they show a sense of excitement as you brief them, you probably have a potential idea. On the contrary, if you see them furrowing their brow and their body language is negative, your idea might not be a potential good bet.
Design an MVP, then Test and Tweak your idea to Best Suit your Market
A minimum viable product, MVP, is typically the most elementary picture of your business idea that you can practically sell as a product or service. Building an MVP and seeing how it works out is another of the simplest tests to assess your idea’s potential. In addition, many successful tech entrepreneurs recommend that you have your product or service’s simplest version that you can easily experiment with and promote early in the idea development process so that you may cater the necessary tweaks and changes in response to the genuine feedback from your target audience.
The test market feedback is valuable as it helps you know how to refine your product or service and the inherent nature of your idea. For instance, your smartphone gaming idea can be evolved during the test and trial phase.
Let a Group of Critics Run It
When you have an MVP of your idea, test service, or prototype ready, bring it forth towards your potential target audience. Consequently, it would help if you surveyed and talk to a minimum of fifty potential clients to figure out whether they identify with your idea the exact way you do.
In simpler words, you have to determine whether your idea is a genuine need for most of your target audience or simply very few people. Though it is another simple test to find your business idea’s strength, you must be prudent and diligent when selecting the fifty potential customers. If you have had previous irate encounters with them, you might not get honest feedback.
Build a Test Website Linked to social media
Once your business idea is out in the form of a product or service, your target market requires a place to obtain further information about it or share it with others. Thus, creating a simple website and linking it with social media is a great way to provide more details, and it is the most straightforward test to see how most people are reacting towards what you are selling or providing.
User clicks, comments, and shares will tell you whether you should continue working on your idea or do some more improvisation before going public or back to the drawing board.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Have you ever fallen prey to tricky restaurant menus that have “unintentionally” persuaded you into spending more money? If you haven’t, then you must be an incredibly well-informed person or more conscious than most about your hard-earned money.
Undoubtedly, restaurants use psychological tactics accompanied by flowery language to make their menu/dishes sound more appetizing and appealing. They have to come up with extraordinary ways to manipulate, tempt, and drain their customers’ pockets due to increased competition in the market and ever-changing brand loyalty.
Gone are the days when people associate feelings with their favorite restaurants and the service and value they had to offer to their loyal customers.
That doesn’t happen anymore. Now, restaurants will do anything to manipulate and trick their customers, especially the first-timers, to maximize their profit margins.
And one way to do this is by designing expressive yet stimulating restaurant menus. If anything is ever to be blamed for unconsciously encouraging you to spend more money in a restaurant, that would be the ‘restaurant menu.’ Trust me! The menu plots against you and your wallet—well, at least that’s what the veterans say.
Restaurants – From the Lens of Maximizing Profits
Looking at current industry dynamics, the restaurant business has turned into a very lucrative business. People are stepping into this industry with whatever investments they may have because it promises profitable returns and rapid growth (if everything is put to perfection).
You can only expect to earn repute or achieve intended goals and objectives aligned with the restaurant’s vision and value once you start to provide actual value to your potential or privileged customers. However, creating a fine dining experience at a restaurant requires commitment, hard work, and putting your best efforts into the task.
Although people may not be ready to spend more money for the same product/dish that can easily be found in every restaurant around the block, an alluring yet motivating menu can make things go in your favor with a high-level impact. Business owners associated with the food industry know the significance of a high-level impact that visually aesthetic restaurant menus can create.
This is precisely why they hire pro menu engineers’ expertise to devise the ‘fate’ of the business. A carefully thought-out menu with the proper strategic placement and order can ultimately unlock the doors to success. Using psychological tricks helps restaurant owners lure customers and increase their sales volume, which ultimately helps them maintain a healthy business/restaurant life cycle.
How do Restaurants Trick Customers into Spending More Money?
The Ambiance
From the moment of your arrival, whatever you notice going on around you accumulates to become a part of a restaurant’s ambiance. Consciously or subconsciously, you probably notice several things—from the restaurant’s theme to the feel of the overall environment, from flashy lighting to the type of music.
Everything from the moment you walk into the restaurant forms your opinion about the place. This formation of your opinion suggests that the whole dining experience and theme-based music resonating with the menu have the power and energy to boost the mood of the customers, which means they will be spending more money.
Use of Dollar Signs
Different studies have revealed that the use of dollar signs with the prices nudge or alert customers, which means they are conscious while ordering their food—perhaps restricting them to order less. Moreover, the usage of a dollar sign with the product description triggers negative feelings and biases. People sometimes feel discouraged or threatened even to consider the product.
The staggering majority of restaurant owners have realized its significance and removed the dollar or currency symbol from their restaurant menus. So, they believe it is better to avoid it instead of dealing with the odds!
Careful Placement of Options on a Menu
The correct strategic placement of dishes in a menu is all that is needed to help sell your best and most profitable dishes.
This placement is why experienced and well-qualified menu engineers are hired for the job, to get things right—the first time! An aesthetically pleasing yet informative menu design can empower customers without letting them feel that they are spending more money or crossing their borderline (budget).
Feeding the Imagination
A crisp description of meals along with the careful use of adjectives with the name of any dish in a restaurant menu lure clients. The model of feeding the image of the product/dish with solid claims such as ‘world’s best steaks or burgers on the menu has gone obsolete predominantly because restaurants often failed to meet the desired expectation level associated with the product.
Instead of making strong claims, feeding, or building up the imagination with strong adjectives like ‘sun-dried,’ ‘oven hot, ‘… they seem to get the taste buds tingling. With intriguing titles and fancy descriptions, a regular menu appears extraordinary and compels the customer to believe that everything will taste better. This ultimately tricks the customer into spending more money or expending more than their budget allows.
Summary
The above details assist entrepreneurs who want to set up a restaurant menu. It is also ideal for those who have old-fashioned menus. A robust menu helps customers and makes them feel something about the product. They will probably crave more if that feeling gets more substantial from the time they gave their order. If this happens, you will probably find yourself spending more money, surpassing your budget.
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 you plan to save money, you will have to account for each transaction and circumstance that currently concerns your life. Learning how to save and manage your money at a young age will equip you with the skills to budget your money at any age. When you are young, there are not many obligations that give you the liberty to experiment and develop a budget.
Making thoughtful financial decisions will ensure that your financial health stays in balance and you have enough set aside for unforeseen situations. Below are some tips that will help you manage money throughout your life.
Your 20’s
Your 20’s is a transitioning period for students as they are moving on into their salaried life. For every 7 out of 10 students in 2017, the average college debt $30,000. Paying off this debt will take years and robust budget management. While budgeting, you must ensure to account for loans and set aside enough money to pay them off as early as possible. Budgeting for rent and other living expenses along with student debt takes serious effort and money management skills.
Cut back on nonessentials
Budgeting your money at any age requires you to make a realistic budget that accounts for even the smallest expenses. Log everything in a notebook or use a mobile application to keep track of daily expenditures. Before you can start creating a budget, you will need to know what you spend daily. Once you have data to explain your spending behaviors, it will be easier for you to set limits on some categories related to entertainment, clothing, and luxury goods. These are considered non-essential, and once you are accustomed to living without them, you may not miss them. In either case, limiting non-essential payments will significantly cut down your expenses.
A 50/30/20 rule is often a good way to manage your expenses. 50% of your income should go essentials, 30% can be allocated to your wants, while 20% should be put into savings.
Get a saving account
Planning a large purchase like a car or a house may require you to save more than 20% of your income. The best option is to get a dedicated savings account that offers a higher interest rate. Forget about the money you put aside in this account and only use it according to plan.
Your 30’s
Hopefully, you will have adopted a healthy budgeting habit at this point. There would not be issues related to late payments, unnecessary credit card usage, and keeping track of expenses. Your 30’s is usually a career transition phase, and there is a high probability that you will get married too, so managing your finances becomes even more significant.
Open a retirement account
Amidst the money management paradigm, you must start making contributions to your retirement account. The Internal Revenue Service (IRS) retirement account is a great option if you do not have an employer-sponsored retirement account. This is one of the most critical times when budgeting your money at any age, and setting a retirement account now will ensure that you put enough into it for your future.
Emergency fund
This is something that you should pick up in your late 20’s and carry forward into your 30’s. You never know what might happen, so it is better to be prepared. In case you have not saved up for an emergency fund, you may end up dipping into your retirement account or maxing out your credit cards which are not the best options.
Your 40’s
Whether you have settled into family life or are pursuing a career passionately, your 40’s is the best time to invest your money and generate income. This will ensure that you generate enough side income to pay for luxury goods and fulfill your desires. Making smart investments is key, and it is recommended that you do not put all your eggs in one basket.
Generate alternate incomes
Even if you are happy with your career and saving enough money for a rainy day, you should invest your money in stocks, real estate, trading, or any field related to your expertise. This will allow you to maintain a healthy family life while meeting your additional expenses. Both your short and long-term goals can be achieved early if you make intelligent investment decisions. The best strategy is to diversify your investment portfolio to minimize the risk and gain all the benefits of budgeting your money at any age.
Revise the budget
Saving and spending goals need to be revised amidst growing expenses, including family needs, life insurance, medical bills, and paying off tuition fees. It can be an arduous task if you fail to make necessary budget amendments.
Your 50’s and Retirement
Now that most debts are paid off, and there are no more tuition bills remaining, you can shift your focus towards retirement. Consider how many more years you want to work and focus your investments based on the area you have benefited from the most in your recent experiences.
Reconsider your choices
This is the time when you should start pursuing what interested you throughout your life but could not. For example, if you wanted to travel and could not, you should immediately plan a trip. Make some adjustments in your lifestyle to account for the travel expenses, as you should now be a pro at budgeting your money at any age.
Consult a retirement planner
Though you had learned to manage your own money by now, it can still be beneficial to have a second opinion. Consult with a retirement professional and discuss your investment decisions and options. You might be missing something that could dramatically increase the return on your investment.
Following these tips will ensure that you retire with grace and can budget at any age.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
The concept of restaurant inventory management is directly tied to planning your menu. Tracking inventory is one of the best ways to be efficient and cost-effective. It’s an ultimately crucial task that certifies and ensures supply. In the restaurant business, clientele satisfaction is essential, and every customer’s orders are met to the best of your abilities.
Saying “sorry, we are out of that” or recommending another item on the menu is not always what the customer is looking for and may discourage them from visiting again. Without proper tracking of inventory, that happens a lot! Apart from that, businesses’ yearly profit by regular inventory tracking and monitoring leads to increased profits.
Restaurant inventory management brings growth and positively impacts planning your menu, kitchen activities, staff protocols, etc. It is detrimental to understanding operations. Being aware of raw materials is essential for the daily efforts of staff to perform their functions.
Showing attention towards providing ease in their daily workload is encouraged. Small takeaways would benefit from regularly purchasing on a day-to-day basis. Each day, a new menu may be offered. Therefore, buying things daily is recommended. To keep ingredients fresh and with a small number of resources and staff, supervision is made more accessible.
Restaurant inventory management not only helps in planning your menu but other important aspects as well. By effectively handling all material coming in and out, along with what is needed or procured, a positive effect is achieved, setting things on the road to growth for a restaurant.
Menu Planning
Effectively planning a menu is the first of many benefits of proper inventory management. Half of the menu dilemma is solved by knowing what is in the kitchen and the tools needed to deliver great food to hungry clients. By tracking the ingredients used and utensils required to furnish an item on the menu, you can quickly determine how many you can serve. By planning your pantry, crafting menus becomes convenient, practical, and, by keeping variety high, appreciated by devoted clientele.
Avoid Wastage
Tracking well must become a habit to avoid wastage. Keeping an excessive amount of perishables must be minimized. Tracking also keeps a healthy stock so that no emergencies happen. Always check how ingredients are used over a certain period.
With the purchase of ingredients, it is understood that a particular standard is maintained, which is vital for cost-effectiveness. For example, sometimes, a specific ingredient in restaurant inventory management is often in high demand. Therefore, a sufficient quantity of that ingredient is procured as it is vital.
However, you have to be careful not to over-order items in lower demand. Over-ordering can cause certain products to go bad and contributeto wastage.
Calculating Costs
After all, money is being spent to produce everything, so keeping records and files help in financial matters such as setting prices. This record gives a clear picture of how much you’ve spent and how much you need to earn to yield profits. From these records, budgets can be created, and an item’s usage frequency can be determined. This budget awareness helps reveal an image of overall financial health.
Other Restaurant inventory management benefits
Knowing and planning your costs, many cost-effective benefits allow business owners to have more control over their business. An accurate inventory will lead you to cope confidently and more effectively with customer orders and requests. Because of the First-In-First-Out (FIFA) rule, inventory of vegetables, meats, fruits, and dairy products are easily handled, and, with a bit of effort, nothing will be wasted.
Also, by utilizing everything and not wasting food, businesses can tackle expenses that overburden a business by lowering wastage and utilizing efficiency. Chances for success increase while creating an atmosphere for growth. Restaurant inventory management is crucial for more than just planning your menu.
Inventory Taking Pointers
Organizing and regular upkeep help decrease time-consuming activities such as item-wise stock taking. By setting up a daily schedule and tasking a responsible staff member to update and maintain all stock levels, you can quickly pay attention to the quantities available.
Throwing out expired or non-usable items is strongly recommended, and managing space well is essential.
Using containers and boxes by labeling and storing in a specific order for ease in retrieving. Kitchen operations are automated, and your staff executes and processes orders with careful attention to the stock. Track the availability of ingredients by creating routines and kitchen protocols with restaurant inventory management details and information.
Planning your business and using cost-effective, proficient, inexpensive software and computer programs will significantly help many levels.
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.
Is Your Employer Tracking Your Online Activity at Work?
Employer online activity tracking involves sophisticated monitoring tools that capture keystrokes, screenshots, web browsing data, and device locations to assess productivity and security risks, with 70% of large companies now actively monitoring their workforce. These digital surveillance systems range from basic time-tracking software to invasive AI-driven platforms that flag “idle time,” compare employee performance metrics, and even record audio through device microphones.
Over my 20 years as CEO of Complete Controller, I’ve watched workplace monitoring evolve from simple timesheets to complex digital ecosystems that blur the lines between productivity enhancement and privacy invasion. The dramatic shift is staggering—only 30% of large employers used email analysis and similar monitoring in 2015, but that number jumped to 46% by 2018 and continues climbing toward 70% by 2025. This article breaks down the monitoring landscape, your legal rights, detection methods, and practical strategies to navigate this new reality while maintaining both productivity and personal boundaries.
What is employer online activity tracking?
Employer online activity tracking uses software tools to monitor employee computer usage, including keystrokes, screenshots, web activity, email content, and GPS location data
Keystroke logging captures every character typed, potentially including passwords and private messages sent through work devices
Screen capture technology takes periodic snapshots of active windows to verify productivity and task completion
Web activity monitoring tracks browsing history, time spent on specific sites, and blocks access to non-work platforms
Location tracking uses GPS to monitor company devices, tracking employee movements during work hours and sometimes beyond
How Employers Track Online Activity at Work
Modern workplace surveillance has transformed into a multi-billion-dollar industry projected to reach $7.6 billion by 2030. The technology available today goes far beyond simple time clocks, incorporating sophisticated algorithms and machine learning to analyze every digital interaction.
Core monitoring technologies
The foundation of employee monitoring rests on four primary technologies, each with varying levels of invasiveness. Keystroke logging stands as the most intrusive, recording every character typed including passwords, personal messages, and confidential information. Many employees remain unaware that 78% of productivity tools capture screenshots at regular intervals, creating a visual record of their entire workday.
Screen capture technology has evolved significantly, with some platforms taking snapshots every 10 seconds or triggering captures based on specific keywords or applications. Location tracking has surged 45% since 2021, with 34% of monitoring tools now incorporating GPS capabilities that track employees even during lunch breaks or commutes. Most concerning, 8% of monitoring software can activate device microphones to record audio conversations without notification.
Key monitoring tools and their capabilities
Leading platforms vary significantly in their approach to surveillance:
Tool
Primary Features
Stealth Mode
Invasiveness Rating
Teramind
Keystroke logging, real-time alerts, AI analysis
Yes
Very High
Time Doctor
Screenshots, app tracking, productivity scores
Optional
High
Veriato
Email monitoring, file transfer tracking
Yes
High
Hubstaff
GPS tracking, activity levels, time tracking
No
Moderate
RescueTime
App usage analytics, focus time tracking
No
Low
The market has seen a 42% increase in video monitoring capabilities between 2021 and 2023, while stealth mode usage has actually decreased by 23%, suggesting a slight shift toward transparency—though 38% of tools still operate invisibly.
Legal Limits on Employer Online Activity Tracking
The legal landscape surrounding workplace monitoring creates a complex patchwork of regulations that vary dramatically by location. Understanding these boundaries protects both employers from costly lawsuits and employees from invasive practices.
U.S. workplace surveillance laws
Federal law provides minimal protection for employee privacy, generally permitting employers to monitor company-owned devices and networks without notification. The Electronic Communications Privacy Act allows monitoring of business communications but prohibits intercepting personal emails on private accounts.
State regulations offer varying levels of protection:
California requires employers to provide clear notice about monitoring practices and grants employees the right to access collected data under the California Privacy Rights Act
Connecticut mandates prior written notice before any electronic monitoring begins
Delaware requires notification to employees about monitoring practices during hiring
Texas prohibits monitoring of personal email accounts, even when accessed on company devices
New York requires explicit consent for keystroke logging and limits the monitoring scope
EU and GDPR compliance requirements
European regulations impose strict limitations on workplace surveillance. Under GDPR, employers must demonstrate a legitimate business interest for monitoring, provide transparent policies, and limit data collection to the minimum necessary for stated purposes.
The consequences of non-compliance are severe. H&M faced a €35.3 million fine in 2020 after supervisors at their German service center conducted “welcome back talks” following employee absences, recording intimate details about health conditions, family problems, and religious beliefs. This information was stored digitally and accessible to up to 50 managers, constituting what authorities called “particularly intensive interference” with employee rights.
Amazon’s French operations received a €32 million penalty for excessive warehouse surveillance that tracked individual productivity down to the second, creating what regulators deemed an oppressive work environment. These cases establish clear precedents: monitoring must be proportionate, transparent, and respect fundamental privacy rights.
Signals Your Employer May Be Monitoring You
Despite legal requirements for transparency in some jurisdictions, only 22% of employees report knowing they’re being monitored, creating a massive awareness gap. Recognizing the signs of surveillance helps employees understand their digital environment and make informed decisions about device usage.
Technical indicators of active monitoring
Your computer often reveals monitoring through subtle performance changes. Unexpected system slowdowns, particularly when switching between applications or opening new browser tabs, frequently indicate background monitoring processes consuming resources. Fan activity spikes during routine tasks suggest hidden software working overtime to capture and transmit data.
Network-level signs include:
Restricted access to previously available websites, especially social media or news platforms
Inability to install browser extensions or software without administrator approval
Pop-ups about “system updates” that don’t match standard IT communications
Bandwidth throttling when accessing non-work sites or streaming content
Task Manager showing unfamiliar processes with high CPU usage
Behavioral and policy indicators
Organizations actively monitoring often exhibit specific patterns. Sudden emphasis on “productivity metrics” in team meetings, new requirements to keep cameras on during remote work, or unexplained knowledge of your daily activities by supervisors all suggest active surveillance.
Many companies bury monitoring disclosures in employee handbooks or onboarding paperwork. Look for vague language about “network security” or “productivity optimization” that could mask extensive surveillance. IT departments requesting unusual permissions or pushing mandatory software updates outside normal schedules often signal new monitoring implementations.
Detection methods and limitations
Checking for monitoring software requires careful investigation:
Review installed programs through Control Panel, looking for unfamiliar productivity or security applications
Examine running processes in Task Manager for suspicious entries consuming resources
Check browser extensions for any you didn’t personally install
Monitor network traffic using tools like Wireshark to identify data transmissions
However, sophisticated monitoring tools operate at the kernel level, making detection extremely difficult without administrator access. Stealth mode capabilities in 38% of monitoring software mean even tech-savvy employees might miss surveillance indicators.
Protecting Your Privacy While Being Monitored
Understanding that monitoring exists is only the first step—employees need practical strategies to maintain appropriate boundaries while fulfilling work obligations. These approaches balance legitimate employer interests with personal privacy needs.
Technical safeguards and best practices
The most effective protection involves complete separation of work and personal activities:
Strategy
Implementation
Effectiveness
Device Separation
Use personal devices for all non-work activities
Very High
Browser Profiles
Maintain separate profiles for work and personal use
High
VPN Usage
Encrypt personal browsing (may trigger IT alerts)
Moderate
Virtual Machines
Run personal activities in isolated environments
High
Mobile Hotspots
Use personal internet for sensitive tasks
Very High
Nearly half of monitored employees (49%) admit to faking online activity, while 31% use anti-tracking tools—demonstrating widespread resistance to invasive monitoring. However, these workarounds often violate company policies and could lead to disciplinary action.
Legal rights and advocacy options
Employees possess various rights depending on their location:
Request copies of all collected data under California’s CPRA or EU GDPR regulations
Challenge disproportionate monitoring affecting mental health or career progression
Report GDPR violations to data protection authorities for investigation
Organize collectively to negotiate monitoring policies through unions or employee groups
Document instances of monitoring overreach for potential legal action
California residents can submit formal requests for productivity metrics, keystroke logs, and screenshot archives. European employees enjoy even stronger protections, including the right to object to processing and request data deletion under specific circumstances.
Balancing Productivity and Privacy
The tension between organizational oversight and individual privacy continues intensifying as technology advances. Both employers and employees must navigate this landscape thoughtfully to maintain productive, trusting relationships.
Organizational perspectives on monitoring
Companies cite legitimate reasons for monitoring: protecting intellectual property, preventing data breaches, and maintaining productivity standards. With remote work expanding, 73% of employers monitor distributed teams, slightly less than the 75% monitoring in-office workers. Security concerns drive much of this adoption, particularly in industries handling sensitive data.
However, excessive monitoring often backfires. Research shows 43% of employees report that monitoring negatively affects morale, while 39% say it damages their relationship with employers. Perhaps most critically, 27% would quit if monitoring began at their workplace—a significant talent retention risk in competitive markets.
Building ethical monitoring frameworks
Responsible monitoring focuses on outcomes rather than surveillance:
Narrow data collection to specific business needs, avoiding personal communications
Transparent policies clearly stating what’s monitored, why, and how data is used
Regular audits to prevent scope creep and maintain proportionality
Employee input through surveys or committees to address concerns
Alternative metrics emphasizing deliverables over time-tracking
Companies succeeding with ethical monitoring report higher trust levels and better retention rates. They use anonymized team data rather than individual tracking, trigger alerts only for security violations rather than productivity dips, and provide employees access to their own monitoring data.
Final Thoughts
Workplace monitoring has evolved from exception to expectation, fundamentally altering the employer-employee relationship. As someone who’s guided thousands of businesses through operational transformations, I’ve seen firsthand how monitoring can either enhance or destroy workplace culture. The key lies in transparency, proportionality, and mutual respect.
Employees must understand their rights, recognize monitoring indicators, and take appropriate steps to protect personal information. Employers need clear policies, ethical frameworks, and restraint in deploying invasive technologies. Both parties benefit when monitoring serves legitimate business purposes without crossing into surveillance theater.
The future workplace will likely feature even more sophisticated monitoring capabilities. Success requires open dialogue about boundaries, regular policy reviews, and commitment to balancing productivity with privacy. Whether you’re implementing monitoring systems or working under them, the experts at Complete Controller can provide guidance on creating frameworks that protect both business interests and employee well-being. Visit Complete Controller to discover how we help organizations navigate these complex challenges while building thriving, trust-based cultures.
Frequently Asked Questions About Employer Online Activity Tracking
Is it legal for my employer to monitor my online activity without telling me?
In most U.S. states, employers can legally monitor company-owned devices and networks without notification, though California, Connecticut, Delaware, and New York require various levels of disclosure. Federal law permits monitoring business communications but protects personal accounts.
Can I detect if monitoring software is installed on my work computer?
You can check for monitoring by reviewing installed programs, examining Task Manager for suspicious processes, and looking for unfamiliar browser extensions. However, 38% of monitoring tools use stealth modes that are virtually undetectable without administrator access.
Do employers need my consent to track my location during work hours?
Consent requirements vary by state. Connecticut requires prior written notice, while most states allow the location tracking of company devices without explicit consent. However, tracking typically must stop outside work hours unless specifically agreed upon.
What rights do I have under GDPR if my employer monitors me?
EU employees can request access to all collected data, demand corrections to inaccurate information, object to excessive processing, and request deletion under certain circumstances. Employers must justify monitoring as necessary and proportionate to legitimate business interests.
How can employers implement monitoring without destroying employee trust?
Successful monitoring programs focus on security over surveillance, provide clean,r transparent policies, limit data collection to specific business needs, offer employees access to their data, and emphasize outcome-based metrics rather than time-tracking.
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.
In the progression of running your business, you’ve probably encountered more legal fine print and formalities than you ever thought possible.
What Is a DBA?
In the U.S., a DBA lets the public know who the actual owner of a corporation is. The DBA is also called a Fictitious Business Name or Assumed Business Name. It got its origin as a form of consumer protection so that dishonest business proprietors can’t try to avoid legal trouble by operating under a different name. When someone files a DBA, it’s generally circulated in some print newspaper. It lets the community know exactly who the people are behind a particular business.
Who Needs a DBA?
In general, there are two reasons why a business in the U.S. will need to get a DBA:
Sole Proprietor
If you are operating your business as a single proprietor, then you’ll need to file for a DBA if your business has a different name than your name. In some cases, you don’t need a DBA if your business name is a combination of your name and a description of your product or service.
For example, if a business was called David Jones Gardening Service, it may not need a DBA. But, if it’s just the first name (aka David’s Gardening Service), then a DBA is required. If that sounds confusing, don’t worry; get in touch with your local clerk’s office and ask them if you’ll need a DBA.
Corporation or LLC
If you have filed to become a corporation or LLC, then you’ve already registered your business name and don’t need a DBA. Although, you will need to get a DBA if you plan to conduct business using a name that’s different from the name filed with your LLC/corporation’s paperwork.
If we incorporated the business as Spring Flowers Gardening, the business would need to file a DBA to operate under “SpringFlowersGardening.com” or “Spring Flowers.” In short, you’ll need a DBA to operate with any variation of your original name.
The Importance of a DBA
A DBA might sound like a lot of unnecessary, extraneous paperwork. Yet, there are a few important reasons to get your DBA in order.
It’s the easiest way to register your name. If you’re a sole proprietor, then filing for a DBA is going to be the simplest and least expensive way to use a business name. You can create a separate professional bookkeeping business identity without having to form an LLC or corporation. And, for sole proprietors, a DBA is required to open a bank account and receive payments in the name of your business.
2. For LLCs or corporations, a DBA will let you operate multiple businesses without having to form a separate LLC or corporation for each business. Let’s say your business wants to expand into multiple websites, stores, restaurants, services, etc. You can create a corporation with a comparatively generic name and use a DBA for each business. Incorporation will cut down on your paperwork and expenses when you’re operating multiple projects.
Keeps your business compliant. If your business is an LLC or corporation, you enjoy certain legal protections. But, these protections may be invalidated if you’re operating under a different name and didn’t file for a DBA.
Filing a DBA
The rules, requirements, forms, and fees associated with filing a DBA differ in each state and county. The U.S. SBA provides a chart that details DBA filings state-by-state. By using a legal bookkeeping document filing service, you can ensure that you’re following your county and state requirements perfectly and won’t be unintentionally operating outside of the law.
Conclusion
Filing a DBA name isn’t hard; you need to work under your state or county’s requirements to go about it in the right way. It’s usually best to get this all done before you operate under your intended “doing business as” name, somewhere between 30 and 60 days before opening your doors.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Marketing plays a vital role for many organizations in getting through the recession and emerging as an improved brand by practicing vigilant recessionary thinking. Although slashing budgets and laying off the workforce is always an option for businesses, they should initially view tough times as an opportunity to grow internally and externally.
It may appear to go against common sense that a recession can boost periods of economic growth. However, professionals endorse that this is a perfect time to revisit your branding strategies and align them with your core business values.
Making intelligent plans for your business will ensure that you stay ahead of the competition even in dire times. Here are some of the tips that will help you survive critical situations.
Marketing Tips
Focus on Loyal Customers
When times are tough, it is hard to attract new customers as everyone is tight. This is the time to trigger your recessionary thinking and develop effective marketing strategies that keep your existing customers engaged in one way or another. You will need to retain your loyalty through exceptional services/products, personalized marketing channels, and genuine concern for your partners and clients.
Partnerships
Combining your resources with a partner business to target the same clients is a great strategy to cut costs and avoid conflict of interest. The focus should be to partner with firms that want to attract the same customer base as yours but are not directly competing with you.
Encourage your partners by offering incentives that can help their business. This encouragement will form a connection between both companies that can translate into seminars, trade shows, and partner marketing campaigns, which benefit both parties.
Suppose two businesses are working together and share similar business philosophies and objectives. In that case, there is a higher probability that their recessionary thinking is along the same line and is desirable for both.
Don’t Miss an Opportunity
As much as tough times can set you back, there is also a chance for you to acquaint your business with feasible markets. Reevaluate your business units and products that are not profitable and whether they will have any influence after the recession.
This reevaluation is an opportunity for you to audit your business processes internally and get rid of things that can impede your future productivity. Have a keen eye for upcoming market segments as they will provide you with an opportunity to tap them before anyone else. Marketing tips offered by your team of experts will play a vital role in targeting these newly created segments.
Advertise
Advertising in tough times may sound like a flawed idea, but, in reality, this can prove to be significant for the survival of your business. Analyze the placement of all your current marketing campaigns and only continue with creating the most direct impact.
Often businesses cut their advertising budgets in tough times as an easy way to cut down on costs. However, because of lesser competition in the market, you have a higher chance to reach a potential audience. Innovative recessionary thinking is required from you in this situation as you can renegotiate with advertising sources and cut down significantly on the costs.
As you have more leverage over your media agent in bad times, ask them to place your ads where they generate maximum reach.
Outsource
You will practically have the same workload in tough times as you had before. It is often hard to efficiently carry out all the tasks because you may have laid off some of your workforce. Other resources are also limited, and you are in dire need of some practical marketing tips.
Outsourcing some of your tasks like graphic designing, media strategizing, writing, and editing to the handsof an expert will save you the costs associated with them and ensure their high quality. The outsourcing agencies have specialized skills, which can also act as your competitive advantage.
SEO
Search engine optimization is used to divert traffic towards your business through the use of specific keywords. A manager with innovative recessionary thinking will use SEO to carry out most of its marketing plans. It costs less than traditional advertising mediums and, if executed properly, can generate high visitor flow towards your website.
As most of the searches on the internet are through Google and other search engines, your business will be better off if it appears among the top results. However, your website must be highly responsive and aesthetically pleasing to create an impact on its visitors.
Conclusion
Following these marketing tips is essential, especially in the time of recession. Be proactive in your approach and make use of all available resources. Video advertising on social media has emerged as one of the most popular and effective mediums of advertising.
A successful video can generate a broad reach and, if gone viral, can reshape your entire business. The success of your recessionary thinking highly depends on your ability to adapt to the situation and make efficient use of the available tools and resources.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Manufacturing companies are usually involved in the production and manufacturing of goods. These are large organizations with inventories in various stages of production. Most companies have three inventory accounts. Each inventory requires separate handling for proper calculation of the cost of goods sold. The three types of inventory are:
Inventory of raw materials
Work in progress inventory
The inventory of finished goods
To calculate the cost of goods sold for a manufacturing company, each of the above inventories needs separate calculations. After calculating one segment, you move on to the next. The systematic calculation of each cost and inventory will eventually lead to the cost of goodssold statement. However, the basic calculation of each cost subhead is similar:
Initial inventory
Add: Other addition to the inventory
Minus: Ending inventory
Equals: Goods transferred from manufacturing
What Costs are Linked to the Cost of Goods Sold Statement?
The essential aspect, which is a must for accountants, is to note and adequately label the amount transferred out from the account. It is crucial to write down the terminology. Using correct terms to identify each item is vital for proper calculations.
Inventory of Raw Materials
This inventory is the initial inventory placed right at the beginning of the cost of the goods sold statement. It includes all the raw materials purchased for manufacturing a specific product. While making the cost of goods sold statement, make sure that all direct and overhead raw material costs are accounted for.
After adding all raw materials, subtract the ending inventory from the inventory account for one period. These materials await transfer to the work-in-progress inventory, where the labor costs are included in the statement.
All raw materials left behind after the manufacturing process is complete must be included in the opening inventory of the next period. In the end, the statement will become:
Initial Inventory
Add: All raw material purchased
Less: Ending Inventory
Equals: Total raw material utilized in the production
Work in Progress Inventory
The work-in-progress inventory is the next step in completing the cost of goods sold statement. After adding different materials to the production line, there are three additional production costs. These costs include direct materials, direct labor, and overhead costs associated with manufacturing. All three costs are collectively called the “Manufacturing Costs.”
The total inventory will be added to the Total Manufacturing costs, and from this figure, the ending inventory will be deducted. The goods that transfer from the work-in-progress inventory are termed as Finished Goods. These goods are transferred to the finished goods inventory. The equation then becomes:
Initial Inventory
Add: Total Manufacturing Costs
Less: Ending Inventory
Equals: Cost of goods manufactured
The Finished Goods Inventory
The Finished Goods Inventory is the last and most crucial part of the cost of goods sold statement for a manufacturing company. All goods are transferred from the work in progress inventory to the finished goods inventory in this inventory. Now the equation becomes:
Initial Inventory
Add: Total Manufacturing Costs
Less: Ending Inventory
Equals: Cost of goods manufactured
Less: Ending inventory
Equals: Cost of Goods Sold
The final inventory includes all goods sold off after the entire goods transfer and manufacturing process is complete. Only the final products are sold off as final finished products. A more detailed statement includes overhead costs and other costs.
Conclusion
Regardless of the type of accounting system or tracking used, you must use the correct calculations, account for inventory accurately, note the progression on the balance sheet promptly, and understand the accounting inventory method used by the company. Consistency will result in more accurate calculations and keep companies out of dangerous territories such as over-valuing inventory.
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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
