Should You Include Google+ in Your Digital Marketing Strategy?

There’s a myriad of social networking sites CEOs, advertisers and marketers can play with and use for business, which are seemingly more visually stunning than Google+. While it can be staggering to manage every single social site you run for your digital marketing campaign, maximising the potentials of social media to market your business and connect with consumers is vital to your success.

This begs the questions, why should your business be on Google+ when you are already active on the leading platforms like Facebook, Twitter and LinkedIn?

Whether it is popular or not, the pros far outweigh the cons in terms of building your social media campaign on Google+. With more than 235 million active users, Google+ believes its stats will continue to grow, chiefly for the reason that Google urges searches, Gmail users and YouTube subscribers to get active and engage on Google+.

Like it or not, Google+ is Google. So when faced with the question should you include Google+ in your social campaign, the answer is nothing but an earsplitting YES.

And getting back to the main question as to why your business should be on Google+, we got the answers laid out for you below.

Google loves it when you play in their sandbox

Google has long been well-known to reign the search engine. While its Google+ may not be as popular as other social media platforms, it is unquestionably indispensable for content marketing and SEO. Google+ will not only help you look more competitive and boost your online exposure and branding, it will also augment your search engine ranking and visibility.

For instance, you own an electrical shop, and a family who has just moved into your neighborhood needs assistance on their new house’s electrical wiring and safety. The new house owners will likely search for an “electrician in City Name”.

Do you know what happens next?

Google pushes local listings to the top of those results based on a mix of shortest distance to travel and highest reviews (coming from Google+). Got the point, now? If you do not take full advantage of the integration between Google+ and other Google platforms, you can miss out a significant opportunity – and that is on client leads.

Improve SEO results for your business

Above anything else, use Google+ to boost your business SEO results, even if none of your target audience uses the platform. Keep in mind, Google+ is Google. And as such, whatever activities you have on Google+ directly affect SEO.

Google doesn’t play favouritism. It flaps content from Google+ and on other social networking channels and website pages in the same manner. The advantage is, content on Google+ has a longer life and stays in search results over a longer period. As a matter of fact, Google+ posts can still appear top of SERPs even if it’s more than a year old already. So if your business runs a Google+ profile and people looks for your business, they can see your Google+ page and its most recent posts on the right side of their personal search results – regardless of whether they are your followers or not.

Put simply, Google+ means faster and more efficient search engine results for your venture. Spend some time and effort into your business page on Google+ and see an improvement with your local search visibility.

Google+ is a good cross between Facebook and LinkedIn

Google+ doesn’t have the casual, too friendly vibe of Facebook, nor does it have LinkedIn’s strictly business appearance. For that reason, Google+ happens to be an excellent combination of fun and professional. It allows customisation of cover photos and includes easy content and photo sharing, which is similar to Facebook. This gives brands the opportunity to play with their imagination and be more creative with their pages. On the professional side, the platform is not only a great source of news, but also a good place to connect with professional leaders and influencers.

Builds Your Brand Identity

Creating a Google+ profile and linking it to your website or blog offers you the chance to claim authorship of your content. Doing so automatically displays your profile photo next to each of your posts in search results. This enhanced search result listing with Google Authorship helps readers identify your content at a glance and help you build authority and influence. In other words, authorship leads to greater visual attention on SERPs and a stronger brand identity.

Overall, it is great for getting publicity and developing a personal brand, especially if you’re in an industry that makes you the face of your business.

Bottom Line:

No matter where industry your business belongs, whether it is a fortune 500 or a startup with a limited budget, do remember how imperative to take any opportunities that come your way, especially when it comes to gaining exposure, establishing a strong base, and building a strong brand. It is never too late to use Google+ for your business, particularly when running a social media campaign.

 

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Power-Up Your Small Business Through Social Media in 7 Simple Steps

The recent years prove to evolve consumer shopping behaviour rapidly. Shopping online is the new trend, and relationships turn out to be more social because of social media networks such as Facebook and Instagram.

The drastic changes provide small business “etailers” doors of opportunities to boost their profits. While it’s painless for large companies to shell out great deals of money for social media campaigns, smaller size businesses with limited marketing budgets can tap into social media to increase their online exposure, too. It doesn’t have to be complicated or time-consuming.

Armed with the right strategy, plus a little effort on the side, you can leverage social trends to get your name out there, gain more followers, increase your conversion rates, and improve engagement. We’ve highlighted steps on how you should exploit social media so you can reap its bountiful rewards in the end.

Understand Your Target Audience

Being engaging is vital on social platforms. If you want to grab the attention of your prospects, you should know who they are. Research what they do on social media, and which platforms they are active at. When you know where your potential customers hang out, start connecting with them. Spend more time knowing them deeper by reading through and listening to their content. Doing so helps you understand how to reach them out in a way that ignites their interests.

Join in Conversations

Social media is all about engagement. There’s no better way to keep your followers engaged than making them feel they are worth your while. Instead of trying to increase the number of your followers, concentrate on providing substantial and valuable information to them. Stay where your audience hangs out most frequently on social media, and shower them with interesting content that is relevant to their likings. If your content is good enough, you’ll see for yourself how it will grow organically and reach a wider audience on its own. Don’t push too hard or you’ll appear like a desperate salesman.

Ensure Things are Done Right

Such a no-brainer, but many social media marketers tend to check if things were done right at the last minute. It is important to check your engagement on social sites on a regular basis. In line with the previous tips, always make sure to deliver the right message at the right platform to the right people. Maybe your content doesn’t work for Facebook, maybe your target audience are really on Instagram and not on Twitter. In addition, take a closer look at how “social” your social networks really are, and whether they are actually an asset to your business.

Be Relevant and Real

Show people you are not a waste of their time. After all, why would they spend their time with you if they are too busy visiting bigger online stores like Amazon and eBay? That said, stand for something within your space. Know what you are passionate about that is relevant to your brand and worth sharing with your fans. For instance, if you are a fashion retailer, link a fashion blog to your social sites. You may as well create original articles about the latest trends and styles in fashion or feature content from other popular sources.

Embrace Change

The adage, “change is the only constant thing in this world” applies in every nook and cranny of social media. Guidelines and policies in different networks are continuously changing, as well as social media marketing strategies. As you discover new tricks to engage your audience, you’ll most probably need to learn new skills. As you find changes in social media platforms, you’ll likely have to adapt. Accepting challenges as they come, puts you in a better position to enhance your marketing campaign and improve customer engagement.

Be in the Know

Marketing in social media has been a never-ending process. You need to learn and master new skills, and use them to extend your reach into unfamiliar marketing terrain. You may venture into visual content, including but not limited to video, photography, infographics and image editing. While this isn’t easy at all, these types of media have shown to increase engagement numbers for businesses that have applied  them in a creative manner. Take your social media marketing to higher grounds by being in the loop. It always pays to be in the know.

Consider Outsourcing

Social media can take up so much of your time. So if you find yourself struggling to keep your marketing campaign in place, consider bringing in a third party service that can help reach your social media goals. Hire social media experts and virtual marketing assistants to take some tasks off your plate.

Social media offer diverse benefits for businesses in all sizes and areas. With these strategies at your fingertips, you can reach a wider range of customers, make a significant impact on your earnings, and broaden your exposure.

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Creative Ways to Use the Services of Overseas Virtual Assistants

Planning to hire a virtual assistant to help you establish your small business? You’re maybe thinking that virtual assistants only have limited skills that revolve around general administrative tasks. But you’d be surprised to know that some of them have skills that encompass the long-standing notion we have about what they can only do.

It can be a bit hard to entrust specialised tasks to overseas virtual assistants. After all, it’s beyond our knowledge of how great their education systems are. You may not be comfortable assigning a content writing task in fluent English to your VA, but know that there are still a lot of tasks that a remote assistant can do independent of his/her language fluency.

Here are some of them:

1. Coding

Coding languages, given that there are a number of them, remain as they are no matter who you are and where you are on the planet. They are entirely irrelevant to being fluent in English; hence, you don’t need to worry about the fluency of your VA when he/she is producing code for your website or any project that involves the use of it.

However, you should be wary of the quality of their code. If it doesn’t work or isn’t secured, that could be a sign that your coder or VA may not have the required knowledge of the language. Still, your homework is to assess the competency of your VA before hiring.

The best thing about hiring an overseas virtual assistant that does coding is that he or she can produce a quality website the same as a domestic one does it, but for a fraction of the cost.

2. Live Chat Support

If you’re still not confident about your VA’s English fluency, you may have second thoughts on assigning a live chat support task. Don’t worry though because you can still go about it by making a script as a guide for your agent.

Your agent may sound a bit unnatural owing to the fact that English isn’t his/her native language. Nevertheless, sticking to the script will do the trick. Even if the agent resides in an English speaking country, he/she may still encounter the same level of difficulty if he/she doesn’t stick to the script given.

Most live chat agents don’t have to be on the phone all the time and only answer calls when a customer has an inquiry on a website. Thus, your agent doesn’t need to have a full understanding of your business. Most questions can be answered with just a handful of scripts and some basic information at hand.

3. Lead Generation

Your website can be a mine of leads if it has a contact form on it. But sorting through leads and pursuing those who require the most attention might become a time-consuming manual task that is better left into the hands of virtual assistants. A VA can easily sort through your contact messages and send a follow-up letter to the most promising leads.

4. Graphic Design

Another universal language like coding is imagery. Today, there are many very good graphic designers overseas that only charge less for their services. They can produce the same quality designs that graphic designers in your country can.

Determine if you need a virtual assistant that also does graphic design or a design agency overseas. If you are working on large projects, a specialist is an ideal hire.

5. Social Media Management

There are a lot of powerful tools that help you efficiently manage social media accounts today. It might be exciting to try your hand on any of these tools, but managing social media accounts can be an arduous task if you’re pressed for time, which you probably are. Here comes the duty of a virtual assistant to help take the load off your back.

You can have a virtual assistant to help you run your company’s social media accounts. You can manage how your VA can access your accounts for security reasons. You can ask your VA to publish daily posts, run the company’s feeds, and respond to comments.  By then, you’ll have all the time to focus on creating the content, making use of analytic data, or marketing your services.

6. Blogging

If you think blogging is simply writing content for a website, you’re hugely mistaken. There’s a number of menial work involved before a blog becomes live, such as backing up a blog, maintaining it, and keeping the software up-to-date.

Content management can be easily done by overseas virtual assistants. A blog manager is the one responsible in keeping your website in shape and relevant. Not only does he/she develop ideas for posts, he/she should also be able to draft outlines, search relevant images for posts, and reference links.

There are still a lot of creative tasks that you can give to your virtual assistant. These tasks are usually very expensive when done domestically. If you’re smart enough and trust an overseas virtual assistant to do the work for you, you’ll save more than what you can imagine. Plus, you’ll have more time to set your eyes on the other aspects of your business that requires a lot of your attention.

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Ask These 5 Questions to Decide if Outsourcing is the Solution

If you are running a small business, you might always find yourself juggling a lot of responsibilities. You would sometimes ask how you can make things better and easier without greatly exhausting yourself.

There are a plethora of answers and choices for that. There’s a choice between buying tools, building solutions, and outsourcing. It all boils down to your wants, values, and the kind of problems you are facing. However, your startup may benefit the most from outsourcing some of your duties.

But even if the choice of handing over your projects to outsiders is the trend, you need to remember that there are things you still need to consider. You will know which method is the best by using the questions below:

1. What’s my problem?

Know that the best tools for your business entirely depend on the problems that you have. If you can’t handle the financial aspect of your business, you might want to consider getting an accounting solution to that. If you’re not into promoting your brand, getting a marketing solution might be the answer.

You need to analyse what you need to achieve and know the hardest or the most important aspect of your problem. Let your needs be the factor that drive your decision. If you want a faster solution, building a customized solution may not be the best choice as it takes time.

Time and money are important for you business as they can affect your choice, so choose wisely and stick to the solution that will cost you less of both.

2. Who else has an insight into this problem?

Once your needs have been identified, it’s time to seek for expert help. Connecting with network experts can help you make a fully informed decision. Look through your contacts to find people who have the know-how of the options that you have and haven’t thought of.

3. When do I need this solution?

Again, look into your problems and determine how soon you need the solution for it. Aside from that, a sense of urgency should be present; hence, you also have to ask how soon you need to see the ROI from your tool.

For instance, if you’re after a system that takes care of invoices, you probably need the tool as soon as possible. Otherwise, you won’t get paid by your buyers. However, if you simply need a performance tracker for every employee, there’s no need for you to hurry up as it isn’t time-sensitive.

Outsourcing invoicing or payroll work is best when you are pressed for time. Solutions are delivered to you faster and there’s less mess on your part. You see the return of your investments at a time rate that’s advantageous to your business.

4. What percentage of my needs will be solved by this solution?

If you’re wondering how a method works for your company, always live by the 80 per cent rule, which states that 80 per cent of your problem must be solved by a particular tool. If it does the job within the suggested percentage, then purchase it. Otherwise, if you’re still supplementing that tool yourself to entirely solve your problem, it’s probably wiser to build your own solution or outsource.

5. Can this tool remedy other problems?

It’s really satisfying to know when we buy something and it gets to solve other problems that it wasn’t initially designed for to solve. When purchasing a tool, always look into the by-products that it can bring to your company. Does it aid other functions in your business? If it does, then it’s safe to say that buying that tool is worth the investment.

Now imagine hiring a virtual assistant who doesn’t only schedule your calendar but also does bookkeeping and social media management for you. How cool is that?

Today, we are given the power to pay for complete services. Outsourcing solutions redefine the way we do business: faster turnaround time and more neat long-term results. There are times that we get a more professional finish from outsourced work than from our in-house employees.

As long as you are aware of your needs, look into the available options and keep in mind the 80 per cent rule. From there, you will be able to come up with the most efficient solution to your problem.

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Four Valuable End-of-Year Questions to Ask Your Accountant

Unless you have scheduled a conversation with your accountant, your end-of-year priority list will not be fully completed. A certified public accountant can help you decide which financial steps you should embark on before the year ends. Essentially, investing in the services of a competent individual requires you to know what to ask and when. This is not only to ensure that you’re getting what you’re paying for, but also to guarantee that you have hired the right person to help you grow the business.

Like it or not, it is critical to include tax on your year-end plan. The rules are constantly changing and it can be difficult to keep track of them while you are running a business. Additionally, preparing and filing taxes can be a stressful event, especially for small business owners. That is why it will be wise to have a tax appointment with your accountant so he/she can shed light on issues that concern you the most.

While a personal meeting is the best choice, a phone call, video conference or e-mail may also do the trick. Here are four of the most relevant tax and accounting questions for business owners.

1. What expenses are tax deductible?

There are several strategies you can use to lessen some of your tax burden. If you have a strong knowledge on what can be deductible, you are in a better position to make smart choices as you shell out funds for your business throughout the year. Be wary, however, that not all deductions are available to all business owners in all situations. Always ask your accountant the requirements you need to meet in order to qualify for that certain deduction.

For home offices, you can deduct certain utilities, bills, equipment, mortgage and rental fees that are liquidated on your home office. Although operating a business at home requires you to follow certain guidelines and can be complicated, you can speak to your accountant which ones apply in your situation and how to implement them so you can have the necessary deductions. The same thing goes for vehicle and travel expenses. Ask your accountant if it would be possible to deduct any of your payments, insurance or maintenance costs during tax season.

2. Should I delay or expedite revenue?

If, for instance, you are going to be in a higher tax bracket the following year, it is advisable to generate more income this year instead of next. One example is by asking your customers to pay before the fiscal year ends.

However, if you think you will be in a lower tax bracket the following year, it will be better to defer end-of-year bonuses to January, put-off drilling nonqualified stock options (since it is considered as a revenue) and delay any Individual Retirement Account distributions. Moreover, if your profit increases despite being in a low bracket, it may probably be a great idea to sell investments that are performing well so you can acquire lower taxes on those incomes.

3. What is my break-even point?

In business accounting, break-even point is defined as the revenues needed to cover a company’s total amount of fixed and variable expenses during a specified period of time. It can be calculated for any period of time (daily, weekly, monthly, quarterly, or annually) as long as the estimates relate to the same time period.

Understanding what your break-even point is imperative, as this gives you a clear picture of your business’s pricing structure and profitability. That said, a good accountant can examine a dozen of metrics that will identify whether your business is making a profit or loss. Once you have determined your break-even point, you should have definite calculations of how many products or hours of services you need to sell in order to cover your company’s expenditures.

4. How is my business doing financially-wise?

While this question should be asked on a regular basis, issues concerning your business financial status tend to weigh more at the end of the year. Economic conditions can have a grave effect on your business, which is why you should know where your business stands, and if it can survive a sudden downturn in the next year. Discussing these to your accountant will not only help you build a financially-strong business that can weather any storm, but will also help you steer your company toward growth and success.

It makes sense to be ready no matter what time of the year. Asking these questions in advance may mean improving your profit for next year while getting taxes done as smooth and painless as possible.

 

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Why You Need a Good Record Keeping System in Place

If you want to keep your business successful, you need to be at least knowledgeable in the field of financial management. While you may  be well aware of the nitty-gritty of product creation, sales and marketing, and customer service, you cannot fully grasp all your hard-earned money if you lack the skills of efficiently collecting it, monitoring it, saving it, and spending it wisely.

Do not let your business go wayside, apply sound financial principles in every dealing and decision you make. Start by learning the fundamentals of bookkeeping and use them on a daily basis, even if you plan to hand the more complex tasks over to a bookkeeping service in the future.

Knowing the basics of record keeping can go a long way in sustaining your business profitability and financial position. Plus, a good record keeping system in place can ultimately bring your business long-term success. Remember, a solid system is the cornerstone of which all of your valuable financial information can be built.

Reasons why you need a good record keeping system:

Monitor the Progress of Your Business

While the adage “success often brings success” is true, it is equally undeniable that success often engenders to failure, especially for new ventures. That is chiefly because as a business starts to bud expeditiously, owners tend to work aimlessly to meet demand, brushing off time to keep their records good.

If you cannot take ahold of your records, it is critical that you outsource the tasks to someone competent. This may mean additional expenditure, but bear in mind that a strong financial system can increase your profits, exceeding the professional cost.

Precise and updated information will show you a clear financial picture on how your business is doing. Without it, you will not know what’s really happening in your business and risk it to possible damages.

Meet Legal and Tax Requirements

Regardless of where you are on the small business spectrum – from a sole proprietorship to a partnership or corporation – it is your legal obligation to file an income tax return and pay income taxes. With a secure record keeping system, it will be easier to prepare for an accurate tax return, and do it on time.

Consequently, a poor bookkeeping system puts you at a disadvantage. You may end up underpaying or overpaying your taxes and/or filing late and paying penalties. Furthermore, a solid system is not only critical at tax time, but also during an IRS (Internal Revenue Service) audit. If you want to appear faultless in front of them, back yourself with a set of good records.

Attract Potential Investors

If your business has reached the point where you need to have a partner, any prospective partner will want to become deeply acquainted with your financial picture. The same thing goes if you need capital and you plan on bringing in a third-party investor.

In addition, if you want to obtain bank financing, a banker may ask you to provide them with certain financial records for the most current and prior years, as well as your projected statement showing the impact of the requested loan.

From creditors to suppliers, to investors and bankers, it is important to have strong bookkeeping procedures and documents that will justify whether or not your business is operated in a sound and professional manner.

Plan and Work More Efficiently

Good records are the source of financial data that will help you run the business more efficiently, which can increase your profitability in return. Well updated records allow you and your bookkeeper or accountant to determine all your business assets, liabilities, income and expenses. This set of information alone guides you to keep track of your business operations, including its strong and weak phases.

These are just four of the so many benefits you can get if you implement a good bookkeeping system within your business. Do not risk putting your small business’s long-term success and survival in grave doubt, keep your financial records complete and accurate all the time.

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Three Decisive Steps When Setting Up Your Startup’s Bookkeeping System

Having a set of books can help you for a range of purposes. These include evaluating business activities, attracting investors, inquiring funds, filing and paying taxes, and working through your financial requirements. However, setting up a strong bookkeeping system can prove a challenge if you don’t have the necessary background and experience. As an initial step, especially if you are not financially-inclined, contact your accountant, bookkeeper or financial consultant. Doing so enables you to set up your accounting system correctly, avoiding costly mistakes later in the year when filing taxes or other government documents.

Whether you’re starting a business from scratch or you’ve already got your startup going, you can always get a system that will work better for you. So, let’s get the ball rolling.

What do you need to set up your startup’s bookkeeping system?

First Step: Pick an accounting method

When looking for a system ideal for your business, examine all the possible options. Some businesses use cash-based accounting and others use accrual systems. There are also other businesses that have gone for a combination of both systems.

• Cash-based Accounting

It is an accounting method wherein an income is recorded when it is received (either by cash, credit card, charges or check), and expenses are counted when they are paid out. Such type of system is usually followed by individuals and small businesses, particularly by those who take immediate payment for a product or service.

• Accrual-based Accounting

It is an accounting method wherein income is recorded when a sale is made (rather than when the cash is received), and expenses are counted when they incur (instead of paying for the goods or services immediately). While this process is more complex, it is less prone to errors and is suitable to all types of businesses.

Second Step: Choose the most suitable method

You can choose whichever method you want. Depending on the size of your business, you may want to begin with a cash-based method. A lot of small businesses that are managed by a sole proprietor or a small group of partners pick this system because it is easier and simpler.

However, if you have an annual sale of less than $5 million or you maintain an inventory, it is best to go for the accrual basis accounting. This system is generally considered to provide you with a more detailed picture of your company’s financial position. On the other hand, you need to follow extra steps such as maintaining accounts receivable and accounts payable records.

Third Step: Select a method for recording transactions

Assuming you have already decided on an accounting system, the next step is to select a method for recording transactions. Here are the choices:

Manual Bookkeeping System

This means keeping your financial records by hand. You or your acting bookkeeper may post business transactions and complete them by either hand-writing them into an actual paper ledger, journal or worksheets. While manual systems mean more time spent on paperwork, they can be the best solution for business owners who are electronically-challenged and have simple affairs.

Electronic Bookkeeping System

If you are confident using a computer, this system may work for you. With a computerised accounting system, entering, compiling and retrieving information is quicker and easier.

• Software

There’s a myriad of accounting software packages and most of them can manage your books efficiently, including recording your transactions, calculating GST, automating payrolls, preparing financial statements, and so on.

• Web-based

With nearly all functions similar to an accounting software package, web-based or “cloud system” allows you to do the recordkeeping from any location. This also gives other users access to your data, regardless of where they are and when they want it.

• Spreadsheets

If you are on a budget and knows how to use a computer, you may consider running a series of spreadsheets to use for your accounts.

As with all types of bookkeeping system, choose the one you are most comfortable with. Find what works for you and stick with it. When your business flourishes, as it surely will, outsource your bookkeeping tasks and spend your time on what you do best. We at My Virtual Workforce would love to help you. Contact us today.

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The Golden Rules of Bookkeeping

Unless crunching numbers is what you do for fun, bookkeeping is probably the least exciting part of your day. There is likely a multitude of tasks in your head: which clients are outstanding, which supplier you need to pay, and the list goes on – leaving bookkeeping chores at the end of your priority list.

Keep in mind, however, that practicing good bookkeeping habits on the onset of the business can help you avoid costly mistakes in the long run. Having the right system and processes in place prepares you for unpleasant surprises and challenges.

No matter how daunting maintaining your financial records can be, it is an essential part of running your business. In order to make it a little less tedious and help you have a healthy bottom line, My Virtual Workforce put together the five golden rules of bookkeeping for your small business.

Start the Day Organised

Whether you hire someone else to manage your figures or do it on your own, make sure that an easy-to-follow and organised system is followed right from the start. Doing so makes it easier for you to maintain and monitor the task as your business grows.

You may search for various bookkeeping processes on the web and find one that you think will be ideal for the size of your business and accomplish it.

Foresee Major Expenses

Do not just settle for the probable expenses you are going to make for the next quarter. Envision what you will be doing for the next two to five years. Chances are, you will need to upgrade your facilities, add more people in your team, revamp your office equipment and so on.

Moreover, recognising the seasonal ups and downs of your venture is critical as these can have a big impact on your budget. Forecasting major expenditures steers you clear of wanton spending, and as such, keeps you financially equipped in both the good months and the bad.

Keep a Schedule

It is essential to save a portion of your weekly agenda tracking your finances and updating your records. Depending on the volume of invoices you receive, you or your bookkeeper can work on the task approximately for an hour or two on a weekly basis. This can be done much more easily if there is a good accounting system in place that provides quick entry fields and handy drop-down toolbars.

Always remember to monitor your expenses and keep them together. Make notes in your calendar, such as who you will be meeting for coffee dates or lunches. This will help you keep an account of your transactions, helping you substantiate your records when tax time comes.

Budget for Tax

A portion of the profit you generated belongs to the tax man. This is why it is imperative to budget for this as you go, so at the end of the fiscal year you won’t struggle shelling out money from the company for the tax. Open a deposit or business savings account where you can set aside what’s due for the tax.

Creating a separate account for taxes you owe from each paid receivable puts you in a better position come the time to file your taxes. So in case there is a deficit, you already have money to back you up.

Outsource a Bookkeeper

You may have discovered that by running a venture you spend almost an entire day looking after your paperwork instead of doing what you enjoy. If you come to think of it, using your skill set and strengths to build your business is more rewarding than worrying about the issues with your records.

By outsourcing your bookkeeping tasks to a certified bookkeeper not only do you save management time, staff overhead, and operating costs, but you also frees up essential capital and hone your proficiencies so you can manage your business dynamically.

You may want to check out more reasons why you should outsource a bookkeeping service here.

That’s all it really takes to handle your finances. Keeping these five golden rules of bookkeeping in mind will definitely pave the way for your business success.

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5 Traits Remote Employees Must Have

Who says managing employees from afar isn’t a challenge? Do you even have an idea on how they go about their tasks without your physical presence? Of course, having remote employees is always a challenge, but you can make it easier by hiring the right people first.

If you’re handling a startup where you thrive with a limited budget and resources, having some people who work from a different location really is a smart choice. Instead of having to rent a big office space, you make it your goal to work successfully with your employees in the cloud.

But of course, because of the big shift on the nature of the workplace, there’s the challenge to effectively manage your far-flung employees. The same shift can also be a factor in selecting and evaluating the people you will hire.

With that said, here are some of the qualities that remote employees who work through the cloud should possess:

1. Proactive in Setting & Sharing Goals

It’s fairly easy to differentiate a proactive remote employee from a reactive one.

A reactive one still waits for you to set the goals. They are more likely to complete to-do lists without much eureka moments. On the other hand, a proactive employee suggests new ideas, creates their own projects, sets professional and personal goals, and recommends solutions to problems.

So when hiring remote employees, make sure that who you are hiring enjoy working on their own. If they are working in a team, these traits should prevail once they start collaborating with their fellow members.

There’s a sense of relief knowing that your virtual employee can move forward without much of your supervision.

2. Always Available

You can always trust a great team player to be always available on call. Mobile and web connectivity makes it easier to connect with geographically-dispersed employees.

Meanwhile, the opposite of these players easily duck behind technology, making it harder for remote managers to connect with them.

Remote employees must feel responsible to try to stay connected. Otherwise, they will fail to meet your needs once you contact them. Although the both of you should be responsible for it, great virtual workers know that the obligation is on them. So no matter what happens, they are always there when the need arises.

If they won’t be available at particular times of the week or the day, they should have the initiative to let you know about it. They should also leave information on how you can still be contacted in case of an emergency.

Although there’s a sense of freedom with working remotely, they also understand that with that freedom comes the responsibility of being available as much as possible.

3. Focus on Results

There are organisations that put more emphasis on the presence of employees in the office rather than the output they put to the table. We’ve all known that there are some people who have positions in organisations who don’t actually do anything.

In outsourcing, delivering clear results is everything. Presence only comes second to it. Great remote employees focus on accomplishing goals on the ideal time.  The sooner a task is completed the better because you can use the time saved for starting new tasks.

4. Constantly Seek Learning Opportunities

Most of us assume that remote employees often have very specific duties to the extent that they only focus on a set list of tasks in hand. While this makes managing them easier, it’s still great to know that some of them have the desire to learn something new.

Great employees push for development and learning opportunities. They do not just settle for what they already know, but they strive to gain exposure to new skills. Although this can be irritating at times to employers, there will come a time that these new learned skills will come into play to their advantage.

5. Push to Become Irreplaceable

In the event that your business downsizes, you’re always forced to let a few employees go.

Instead of complaining about how unfair the situation is, great employees push themselves in the forefront and impress you with what they can actually do. They know that in order to be not among the unfortunate roster, they have to prove how valuable they are to you.  And they surprisingly enjoy doing that.

Before hiring someone continents or miles away, ensure that you will be able to recognize these traits in your candidates. No matter what your business is, the success of it depends on your ability to wisely select and evaluate employees. It might be challenging at first, but everything will fall into place once you’ll get the right fit for your organisation.

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Online Accounting Software: What Features Should You Look For

Investing in the right accounting software is one of the wisest decisions an entrepreneur can make. Not only does it reduce human errors when it comes to calculations, it also offers remarkable insights that one could not gain in paper form, including generating sales forecasts for the next quarter, identifying which products are overstocked, and distinguishing the least profitable service.

A good business accounting system can provide you with these essential information; however, finding the one that can meet your business needs may not be an easy undertaking. With the rise of cloud applications and software products in the recent years, it is imperative that you understand what your business and accounting needs are and the basics of business accounting. You should also have a good knowledge of the different products available in today’s digital market.

This process can be nerve-wracking, but with the right accounting software for your business, you can make your life easier – freeing yourself from the burden of manually updating ledgers, monitoring expenses, creating reports and doing other time-consuming activities to run your company’s finances. That said, look for these features to help you save time and handle your finances more efficiently.

User Interface

Usability or user interface is a must in any type of software. Not only it represents the basic design or layout of the software, it also indicates how a user interacts with the tool and how the tool responds.

Regardless of how sophisticated the software is, it becomes useless if the user lacks technical proficiency. That said, a user interface should be designed in a way that can be deemed usable to both experts and novices.

If designed well, a bookkeeping software can serve the needs of both beginners and seasoned users alike. And in turn, makes bookkeeping tasks less daunting and more enjoyable.

Reporting and Analytics

Many business owners invest in accounting software for one good reason – accountability. You need accurate and up-to-date reports not only for the tax reviewers, but also for your board of directors and investors.

Top-of-the-line accounting softwares has a wide variety of preconfigured reports, allowing users to generate reports in a few keystrokes. Additionally, they are also equipped with analytical tools, business-plan creators and forecasting tools – all of which are crucial in determining the financial status of your business.

General Accounting

There’s probably not a single accounting software which doesn’t feature basic accounting programs. As a small business, it is important that you check for the following features as they are essential in the daily activities of the business: accounts receivable and payable, billing, invoicing, general ledger and purchasing.

While they are present in all electronic accounting tools, their functions and modules may vary among products. For instance, some applications offer accounts payable and accounts receivable as individual modules, while other systems houses both in a consolidated package.

Automatic and Integrated Features

These functions help you run your schedule with ease, making tasks simpler and more convenient. For example, if you are managing five or more employees, a payroll function can calculate salaries and payroll deductions. It can also make automatic deposits, pay into accounts and monitor hours worked.

Automated and convenient features will not only save you time, but will also help you become more efficient. So when looking for a good bookkeeping software, consider automatic features that include remote access, automatic backup, automated billing, preconfigured reporting options, online timesheets, search tools and batch processing. And integrated features should have the ability to work with POS workstations, process credit cards, provide online portals where customers can view their account information and pay bills.

Support Agreement

While this does not belong to any features you should look for in an accounting software, it is a good idea to ask your supplier to provide a support agreement for your new accounting package. If possible, ask to make the agreement valid for the first year of operation, so in case there are problems with the system, someone can sort it out immediately.

Even after the initial period, it will be a wise to invest in a support agreement. You never know when will hitches occur.

Bottom Line: The best accounting software should make your work top quality and take the burden of tedious tasks off your shoulders.

After choosing what’s suitable for your business, it is advisable that you seek for an outside bookkeeping service to help you manage more complex bookkeeping chores. For further information, you may contact us today.

 

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