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Considerations When Hiring An Accountancy Firm

07/09/2017 Elizabeth Taylor Accountancy

Handling accountancy matters either for yourself or your company can be tricky especially if you are a busy perform or do not know much about accounting. As much as you may think that personal or small firm accounting is simple, it requires a level of professionalism to process. Real estate agents and contractors do not need an internal accountant to the nature of their mobile business but will always have accountancy matters to handle. When outsourcing for accountancy services consider the following.

Considerations when hiring an outsourced accountancy firm

Expertise level

Such firms are bound to get any accountancy job, and therefore they must have the necessary expertise to handle such. Since they can get jobs from different fields of careers, hence a pool of experienced accountants will put them at a competitive edge. Being unable to process some of the accountancy jobs assigned by clients is not only embarrassing, but such a customer is lost for good. The services vary and may include; bookkeeping, bills processing, tax filing and many others. Some like hotel industry accountancy are technical and need some experience to process the bed occupancy or food cost.

Speed of service

Accountancy firms may have several clients who they serve. However, they need to deliver within the agreed turnaround time to each of the clients. That’s how they build their reputation over the years. As a potential client, ask the manager on the seriousness they put to such matters as they can mean profit or loss to the business. For example filing tax returns and paying bills in time will avoid penalties.

Results oriented

Only consider result oriented companies to be your accounting manager. Firms without this as a core principle will rarely deliver the intended result. Keen to details is a crucial aspect as a simple error in the figure may incur a significant loss to the business. Reputable accountancy firms embrace the use of software to make the accounting work easy and accurate.

Credibility

Accountancy services mean that the firm is exposed to financial positions of many companies and individuals. Such people and companies having trusted you with this do not expect anything than a high degree of integrity to protect the data and information. Such should not be used for personal benefit or against the client. Exposing the information to unauthorized parties means that you have violated the agreement and sooner or later you may be struggling to get clients.…

Tips For Penny Stock Investing

30/08/2017 Anthony Brown Investments

Investing in the stock markets has become the alternative to trying to make an extra buck. Investing in stocks is like having a second job hoping to get additional finances for a rainy tomorrow. Since not everyone is able in investing in the large enterprises’ shares, the next best option is penny stocks. These are stocks that are traded at a very low price, below $5 and even as little as less than $1. They are usually sold over the counter through quotation services such as the OTBB and Pink Sheets. Here are a few tips for penny stock investing.

Penny Stock Investing Tips

1. Know the company you are going to invest in

The last thing you want to do is invest in a company on the verge of bankruptcy. Research extensively and know about the company that the shares represent. Only after you have reliable information you should invest in the stocks.

2. Consistent share volume trades

Look at the number of shares traded every day and see if they are steady or fluctuating. If there are no volume deals, then you’ll end up with dead stock and eventually have to sell them off at a throwaway price.

3. Have a plan and know when to walk away

Because penny stocks have a very low share price, most people tend to hold on to hundreds of thousand of shares. So, once the liquidity evaporates, you will be forced to sell at a low trading price. Do not hold on to the shares for too long, observe the market trades and know when to buy or sell.

You will have to realize when to sell or buy. But it is best if you make a planned way before you invest in these stocks. Don’t get greedy, follow your plan, and make certain decisions if you have to but do not sit for too long.

4. Be Patient

These stocks are high-risk investments. The prices fluctuate quickly; the trade volumes will dramatically change and in the process, you could end up losing some of your investment. With all this in mind, it requires that you be patient, tolerant and be prudent. Even experts have a hard time predicting the trends of these high volatile stocks.

5 .Calculate the percentage of your investment

Do not ever buy stock with regards to the volume of share you want to own. For example, most people buy 2,000 shares rather than focus on the amount of money invested in it. Purchase the number of shares that the amount you have can afford. So, if you have 4,000 shares at $0.25 and 1000 shares at $1, you are still going to make the same percentage.

Having a plan and being patient is key in penny stock investing. Following the above tips for investing in penny stocks will help as one invests in them.…

Paying Bills On Time

08/08/2016 Anthony Brown Paying Bills

Bills are a part of our day to day life ranging from house rent to electric water bills and even loans. Failure to update your bills means you are at a risk of getting your account frozen or even getting sued for delayed payment. This adversely may affect your finances. To avoid this, you need to know reasons for being up to date.

Reasons to pay your bills on time

Credit score drop

The grace period offered by lenders may be as short as a week or two. After this grace period, your lender may file a report of your account to credit bureaus. When a creditor does so, it puts your credit score in jeopardy. This can be a stumbling block for your future financing. Besides this, it may reduce chances of you getting a good interest on your future loaning and accounts.

No value purchase

Most companies charge late payment fee for paying your bills late. This means the company earns money from you for which you get no value in return. Other creditors may even involve additional finance charges, charged ads a percentage of the balance you owe on the account. Late payments of your bills thus mean that you pay enough money in from finance charges and late fees that could pay you entire bill.

Account benefits loss

Some accounts have benefits attached them like cash-back bonuses and rebates. Some creditors withdraw these benefits when you fail to make your payments in time. You are at a risk of losing important and valuable services.

Rising interest rates

Some lenders have clauses in the contract allowing them to increase interest rates should your make a late payment. Other lenders may forgive a few times but repeated late payment will force the lender to hike the interest rates. This implies you will pay more above the life of the loan or account.

Aggressive internal collectors

Paying your bills late may land you in the hands of internal collectors. These firms are aggressive and may call you several times in a day to give you pressure for the payment. You may be tempted to get even another loan to appease the collector which is detrimental to you.

Bills are inevitable to everyone. In one way or another, you can find yourself in this situation. Work quickly to solve such situations to reduce the negative impact of late payment on your finances. Also, budget to pay your bills on time to prevent such scenarios from arising.

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