Top 5 Xero Plugins for Small Businesses


Cloud-based accounting software such as Xero continues to increase in popularity and the benefits are particularly noticeable in the small business sector. Xero comes pre-bundled with a load of tools including managing inventory, purchasing, bookkeeping, invoicing, and expenses – but there are also several hundred add-ons available that can integrate seamlessly with the software and add a layer of customisation where and when you need it. In this article, we look at five useful add-ons that could really enhance your business.

[Read more…]

A Beginners Guide to Day Trading


Day trading is the act of buying and selling securities or financial instruments within the same day on the basis of short-term fluctuations of prices. You can sell these financial instruments many times within the day if you take advantage of small price moves in the market. Read more about day trading in this link here.

Day trading is different from investing. Investing is the act of buying stocks of an asset that will hopefully build profits over time. Investing is concerned with the business they invest in. Most brokers or individual investors look for companies that can make solid profits and a strong pipeline of products in the long run.

[Read more…]

4 Ways in Which Trump Tax Reform May Benefit Your Family


Tax season is rapidly approaching, and according to the Internal Revenue Service, the last day to file your 2018 taxes is April 17th. However, because of certain changes caused by the tax reform bill President Trump signed into law in December of 2017, you may not be sure how to proceed with filing or how these modifications could affect you. If you plan to file jointly with your spouse and have children, there are several benefits to the new tax laws that might surprise you.

[Read more…]

4 Ways Small Business Owners can Avoid Debt


New and longstanding businesses alike often rely on credit to get their ideas started or keep their operations going. Debt can be your friend as it can help you get the much needed money to hire more people, increasing marketing, improve customer service, etc. that will help grow your business. But, debt can also be your nemesis if you don’t have a plan to make wise of it and pay it off. Of course, the best course of action is not to incur any debt at all and fund your needs with your own cash. Here are 4 ways by which you can avoid getting into debt.

[Read more…]

Why You Should Consider Buying a House in Koh Samui, Thailand


It is irrefutable how beautiful Thailand is. There are actually a lot of great destinations that you can consider visiting in this amazing country, but your list of tourist stops will not be complete without mentioning Koh Samui. For those who want to purchase a house in Thai, this article explains the top reasons why you should consider Samui property.

[Read more…]

What is Financial Risk and How to Properly Manage It


Risk, what is it, really? Risk is a reality that exists in all aspects of life, it’s that simple. When it comes to your finances, risk is defined as the potential loss of capital. It’s also referred to as volatility and divergence from a specific index or fund benchmark. Let’s drill down into this concept further.

[Read more…]

What is a Depreciation Report and Why Do You Need it?


Most homeowners are familiar with depreciation reports, as it is an effective tool used in managing their properties and assets. However, for those who have no clue about it, a depreciation report is a management tool that helps owners/strata corporations plan and pay for the replacement or even repair of their assets such as roof, windows, utilities, roads, etc. and protect their homes and properties.

[Read more…]

5 Ways to Keep Business Loans from Ruining Your Business

What is your perception of business loans? If you are like most entrepreneurs, you see them as the lifeblood of what you do. Without the right selection of loans to help manage your cash flow, your business would not survive. Fair enough. But did you know that business loans can ruin your business just as easily as rescue it?

Business loans are just a tool. In and of themselves, they cannot make or break your business. Use loans properly and they can be instrumental in accomplishing everything from capital improvements to adding staff. Use them improperly and they will become a ponderous chain that drags your business into dangerous territory.

It is assumed that most business owners know how to use business loans from a practical standpoint. So instead, here are five ways to keep those loans from ruining your business:

[Read more…]

Why is Statement of Retained Earnings Important for Small Business?


One of the most important financial and accounting concepts to be aware of when it comes to your company is retained earnings. Retained earnings can be seen as a business savings account that can grow or decrease, based on financial decisions. Mathematically, retained earnings are determined by:

 

Retained earnings = Net income – dividends + beginning retained earnings balance.

Let’s assume this business scenario. A company currently has $10,000 in beginning retained earnings along with $7,000 in profit. During this set time the company paid $4,000 in dividends. Using the formula, the company’s current retained earnings value would be $13,000. ($7,000 – $4,000 + $10,000).

It’s important to note that retained earnings are not the same as net income, also known as revenue. Instead, retained earnings are based on a company’s total profit along with other factors. Retained earnings are a historical count of net earnings that haven’t been paid out to shareholders.

[Read more…]

Should You Buy Prize Tickets as an Investment?


Is prize ticket a good idea? You may ask. Many people wonder if it is a good investment or not. You are probably basing your argument on the fact that the odds of winning the jackpot are usually really low. However, the only way you have a chance at winning is if you buy tickets. There are many reasons why the prize ticket is good and buying a ticket with the knowledge of these benefits makes it a valuable investment. Because you get to decide whether or not you will participate, prize tickets are the fairest form of taxation. It is always advisable to buy a ticket when the jackpot reaches a significant amount.

[Read more…]