As the years go on, individuals often forget the basics of money. These basics include not spending more than your means, getting the lowest interest loan available, paying a rent or mortgage, which falls within your budget, etc. The concern which arises is finding the motivation and the willpower to be able to practice these basics in our day-to-day lives.

Here listed are ways through which you can change your perspective about money: 

View Money as a Means to an End

Check out America's Best Bookkeepers Some people view money as something through which they can gain status. In some cases, being able to buy an expensive home or a luxury car represents this status. Others are motivated to be financially independent or as a path to earlier retirement. Whatever the motivation, viewing money as a means to your personal ends can be powerful.

If you lost your job tomorrow, if you have not saved or spent money well, you may need to borrow money to survive the loss. This will make you a financial burden to a third party, which can be devastating. If you change your perspective on money to be a means to an end, you will be able to save for emergencies, luxuries, or financial independence. Being financially independent or having buying power will give you the willpower and motivation to earn and save money.

Save to Save not to Spend Later

Check out America's Best Bookkeepers Saving money has always been an ideal goal. Saving money should be something that continues even when you have met savings goals initially set. The habit of living inside your means should be lifelong and carried through all your financial goals.

Though some savings should be towards specific purchases or set aside for emergencies, once these are accomplished, save to save, not spend. There should be some amount of your savings, which is for the distant future and not for spending on current expenditures. Changing your perspective on savings can make sure you have a healthy bank account when you retire, hopefully, earlier than planned.  

Financial Health in Check

Check out America's Best Bookkeepers Often, we have people in our lives that are financially healthy and others who are not doing well with finances. We should be mindful of where we get financial advice or cues. In some cases, we have friends or family that model excellent financial health, and we can learn a lot from them from their example or advice. Even the ones in our lives with poor financial health can be an example of what not to do. The best way to keep your financial health in check is to seek out a professional financial adviser or source of information. The perspective that healthy finances are important to maintain is one that will make sure they stay that way.

If followed, these three ways to change your perspective on money will help you to be financially independent. The idea is that if you treat money as a means to an end, save to save and not spend, and keep your financial health in check, it will lead to financial freedom and no stress when it comes to money.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Risk management has everything to do with business management and business success. It happens in the finance department of the business. Risk management is the recognition of investment decisions. Those risks are followed by the economic demands of resources in a business. It evaluates the financial risks in a company with the identification of proper procedures to follow and by minimizing further risks.

 

The risk management assessment monitors any misfortunes that happen because of wrong decisions or improper strategies by a businessman or staff. The assessments also focus on and maximize the opportunities for any business to grow. It limits all kinds of successful areas for a business where it becomes difficult for a business to profit. The risks can come from any department or source meant to handle it. Any threats from the project market can also limit business growth. The project market includes the development department, designing department, the production department, and the finance department. Project failures may also include credit risks, urgent expense needs, accidents, or natural disasters. Check out America's Best Bookkeepers

 

Risk management occurs when investors prefer to buy government bonds that have lower risk rates than corporate bonds. Stockbrokers manage the added or expected risk for a company. Managing risks is sometimes easier than to prevent the risk altogether because of the lack of choices for some businesses. Poor risk management and lack of education have severe consequences for businesses. It also has invalid implications for individual people and the economy. Poor risk management decisions can lead to insignificant results.

 

To prevent these risks from happening or to manage situations after these risks, risk management insurance companies may need to get involved. These companies offer proper guidelines for businesses to get back on track. They give complete information to the company related to their finances and investments. The risk management insurance companies make sure that the business or specific company knows where they are lacking and does not continue repeating their mistakes. They have experienced stockbrokers and investors who measure risk in the first place. Check out America's Best Bookkeepers

 

Risk management insurance companies make sure to advance the practices of risk management. They make different strategies for different business types. The private risk management association selects countermeasures to reduce the risk factors. Each department in the organization carries its own risk factors. The finance department has its own risks while the IT department has other kinds of risks.

The risk management companies make complete and proper plans that propose an easy, applicable, and effective way that manages risk for a company. That also means they control computer viruses with the application of antivirus software. A good and effective risk management plan is the one that has a proper schedule for the implementation of the tasks. The tasks should be distributed among different individuals for them to focus entirely upon. It should also be mentioned how to handle tasks and how to continue doing it to keep managing risks. Check out America's Best Bookkeepers

 

After the risk management company proposes its plan and strategies for the company to follow, they prepare a risk treatment plan. A good risk management strategy is to propose a plan and complete the process of managing risk, then to continue reviewing it. By doing this, fewer chances occur of other risks. The process of reducing risk also means controlling the risk so that company grows in the future. All the planned methods need implementation to make a company a successful one. The implementation also decreases the effects of risk. An individual should avoid all risks that have any chances to damage the success of the company or business. 

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Are economic troubles causing you to focus on your personal financial circumstances? You may be concerned about losing your job or how much debt you have. Maintaining a family budget is bookkeeping and tracking all of your accounts.

Avoid having a potential financial crisis and get back to fundamentals with a family budget you can stay on. Here are some ways how you can start: Check out America's Best Bookkeepers

Goal # 1. Set some Objectives

Before you can start to manage your money, you need to recognize what is vital to you. After doing so, you have the groundwork for choosing what you desire to do with the money.

Write down all that is important to you and use your list to determine goals for your money. It may seem complicated, but it is not as complicated as you think. Short-term goals can be to pay back debt or purchase a new appliance. Medium-term goals can be to go on a cruise or conserve the first installment for a brand-new car. Long-term objectives typically include helping your kids live on their own, paying off a home, or planning for retirement.

Goal # 2: Identify Your Expenses and Income   Check out America's Best Bookkeepers

After you have created some objectives for your money, examine its source and where it is spent. If we can budget your money, we can get into this habit easily. Some money controlling habits are helpful and lets us reap their rewards in the future.

Start by creating a list of your household income sources and their amounts. Include everything: commissions, wages (after taxes), self–employment income, pensions, child tax benefits, spousal support, child maintenance, and other steady income.

Goal # 3: Separate your Necessities from Desires

As people keep track of their spending, they find out that they spend some of their money getting items they do not need. The reality is that they want to acquire their desires and often end up buying them impulsively.

This is called Impulse spending and is unplanned. You purchase items that you might or might not need, or you might spend more on a product than you planned.

Goal # 4: Plan Your Budget

Most people do not like the term “budget.” This is because they think it means deprivation, limitations, and restricting yourself on spending.

Don’t overthink it. Your family budget is a spending plan. It will permit you to live within your means. You will avoid the stress of money issues, and you will have the freedom to make choices with the resources you have.

Goal # 5: Put Your Family Budget Plan in Action

Now that you have set your objectives, identified your expenses and income, determined how much you need to save for periodic expenses, and made the choices around your wants and needs, it’s time to put your family budget plan to action. Check out America's Best Bookkeepers

Goal # 6: Manage your Seasonal Expenditures

After you have made your workable family budget and planned your paychecks, it is now time to plan your investment money. This will help you to keep track of and handle your seasonal expenses.

Goal # 7: Looking Into the future

Any good plan should involve checking, periodic review, and random re-evaluation. It is no different from a spending plan. Circumstances may alter, mistakes may be made, and needs may differ at some time in your life.

 

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

What Is meant by the term “Logistics Performance Management”? As created by John J. Coyle, the Seven R’s of Logistics is beautifully explained.

“Logistics is all about receiving the right merchandise, to the right consumer, in the right quantity, in the right condition, at the right place, at the right time, and at the right costs.”

Logistics performance management is the consistent tracking of every feature and aspect of the logistics system.

Check out America's Best Bookkeepers The process takes account of data related to all logistical activities. This includes outbound and inbound transmission, warehousing, fleet management, materials handling, inventory management, 3PL management, order fulfillment, demand and supply planning, logistics network strategy, and many other support facilities.

Logistics performance management experts use logistics management to identify and rectify problems and to update and refine business performance.

Below are the three factors that affect Logistics Performance Management. Check out America's Best Bookkeepers

Factor# 1: Unproductive Strategy

The majority of the businesses work to achieve high-performance goals and end up falling short of standards. Eventually, it becomes clear that a component is lacking. The strategy for logistics performance is to identify these components.

To come up with a strategy for your logistics performance management, a logistics chief must lay out the process. In general, logistics performance management depends on a steady flow of proceedings, measures, decisions, and actions. As soon as a business recognizes an area of development, they need to put down a process and an aim to fulfill that goal.

Utilizing logistics performance management, it is possible for a logistics manager to:

  1. Utilize the information to find out the motive behind delivery postponements (truck breakdowns).
  2. See with the team members to decrease the number of transporters across all roads.
  3. Utilize current and past information to combine shipments, therefore causing fewer trips.
  4. Track and measure cost-savings after these actions. Check out America's Best Bookkeepers

Clearly, a successful logistics performance management proposal needs a skilled decision-maker to decode the data so that a person can reply with real-time measures to develop business performance.

Factor# 2: The Performance Metrics Are Not Legibly Well-Defined

Unfortunately, your information will be worthless if the correct performance metrics are not used. Those logistics specialists should be aware of what to assess when tracking performance. They can make use of their bookkeeping skills in this regard.

There are innumerable metrics that logistics specialists can use to calculate the performance. The measurements will mostly be based on the size and goal of a business. We have highlighted below, some of the performance measurements:

  1. Total travel time
  2. Over-all orders achieved
  3. Number of orders in a specific period
  4. Amount of shipments in certain hours of transport time
  5. Average inventory investment
  6. Service dependability
  7. Fixed costs (building, payroll, equipment)
  8. Accessorial charges
  9. Variable costs (utilities, fuel)
  10. Total lane costs
  11. Overhead costs (lighting, heating, taxes, insurance)
  12. Cost per pound
  13. Customer service grievances

Factor# 3: Falling Behind in Logistics Technology

Technological variations on an almost daily basis can become quite challenging to follow up. This is one of the biggest challenges in performance management. Developing the IT infrastructure to back the logistics software.

The logistics supervision team needs to see that its software can adapt to the business’s performance metrics.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Whether a person owns a newly built home or has purchased a used one, homeownership will eventually lead to home improvements. The improvements may be minor, or they could be significant renovations. Whatever the case, these tips will help to make them go smoothly and avoid stress and high costs.

Create a House-Specific To-Do List

Making a to-do-list can prove to be beneficial, as it will help keep a person up-to-date on their home management. A to-do-list can be from small home renovation to major ones. It can also be beneficial to keep a different to-do-list for each room of a house. Get the house inspected to decide what needs work and how to do the work. Check out America's Best Bookkeepers

Taking care of the quick projects that are most important

Some home improvements are more urgent than others, and they need action right away. Instead of waiting for the winter to pass, a person should start saving money to get rid of such issues. Delaying home improvement can cost more. Some problems are so small that they take minutes to make changes that will enhance a persons living quality.

Decide to DIY or not

Most people are weekend warriors who instead take care of every home improvement on their own. But, some home improvement projects need professional help. Realizing one’s limits is important when it comes to home improvement.  Hire help if necessary to not make matters worse, keep calm and DIY if it can be handled.

Hone your home improvement skills

Regardless of the size of a project, everybody can learn some new home improvement skills. Some items on the to-do list should be easy to handle and cost little to nothing. Take courses and learn basic home improvement skills. But if you get stuck on a project, do not hesitate to hire help or ask an expert. The internet is full of home improvement related videos and guides that will surely help a person find what they are looking for.

Find inspiration for your next home project

Check out America's Best Bookkeepers A person can use sites like Pinterest or YouTube, or home improvement shows to get inspiration for their next project. These sites and shows have lots of renovation ideas, often along with the total estimated cost.

Get the right tools

To begin DIY home improvements, a person will need the right tools. They will need to get a toolbox ready and equipped for any major or minor home improvement gig, such as plumbing, painting, etc.

Find money for your home improvement

Most home development changes cost a lot of money. If a person is struggling with the finances of a project, they should be able to figure out diverse ways they can pay for their home improvement without putting their household at risk. A person has some options to cover their home improvement finances without putting too much strain on their bank account:

  • Proper deduction at tax time
  • Private mortgage insurance

Even though they won’t raise any added funds for home improvement, but they will help reduce the final cost. Check out America's Best Bookkeepers

Choose the right contractor

Finding a reliable contractor is as important as finding a good dentist, therapist, or a repair person. For a homeowner, hiring the wrong contractor can be devastating. Be careful when choosing a contractor, as nobody wants to waste thousands of dollars redoing home renovations. Below are ways that will help to find a reliable contractor:

  • Look for recommendations from family, friends, etc.
  • Look at their background.
  • Set up a meeting
  • Check their license and permits.

Save money on your home improvement projects

Think of it as, the more money a person saves on their projects, the more they will have left for their other improvement projects. Avoid wasting time and money on replaceable items; instead, focus more on those that are hard to replace and repair them.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Whether you are storing your money in a bank account or a safe deposit box, both are under the security of a bank. This is where the similarities between the two end.

 

Bank accounts are the preferable means of storing money for both customers and the bank. The customers can withdraw the funds in bank accounts at any time. And the banks are at an advantage here as they can use the money in their own activities and investments and give it back when the customer withdraws it. Check out America's Best Bookkeepers

Safe deposit boxes, also known as lockers, are used by people who want to store valuables such as paintings, jewelry, other valued items, and sometimes cash.

 

Here is a comparison of safe deposit boxes (lockers) and bank accounts:

Safe Deposit Box (Locker)

Advantages

  • It can be used to store gold bars, jewelry, collectibles, and any other valuables; unlike bank accounts, you can’t just withdraw or deposit cash.
  • Harder to break into and are kept under maximum security in the bank behind numerous locks, an automated door, CCTV, and of course, the bank guards. Furthermore, no one is allowed to access these lockers without keys that are only in possession of the locker’s owner and bank manager.
  • It can be emptied of their contents and valuables, all in one go.
  • Much safer than other options and are only at risk at the time of a robbery. Check out America's Best Bookkeepers

 

Disadvantages

  • No one, not even the owner, can access the locker without owner and manager’s keys.
  • If you rent a safe deposit box at a bank, you will be charged a fee for the security and maintenance of your locker and everything in it.
  • Unless you have cash in your locker (which can only be accessed during the banks operating hours), this asset is considered to have low liquidity.
  • Record of the money in bank accounts can be tracked and valued in bookkeeping, but there is no record of the items that are kept in the locker, to maintain the owner’s

 

Bank accounts

Advantages

  • Bank accounts have high liquidity, and the money in it can easily be withdrawn, or you can easily make payments through pay orders, checks, and
  • Money can be withdrawn from the bank through checks during working hours, or through ATMs at any time.
  • Bank pays interest (higher interest rates on savings accounts in comparison to current accounts) on the money in your account as they invest it or loans it, other No matter what, you can withdraw your money at any time. Check out America's Best Bookkeepers

 

Disadvantages

  • There is a specific cycle limit or per day for withdrawal, which cannot be exceeded through ATM. The cycle limit depends on the type of account you have and the bank you have your account in.
  • Transactions can be made by anyone using your debit and credit cards, which makes this unsafe. If your credit card (linked to the bank account) is stolen, they can easily make transactions through it, and you would still be liable for them. If your debit card is stolen, then it is harder because they will have to know your pin to make withdrawals from ATMs, unless it is a VISA or MasterCard that can be swiped like a credit card.
  • Online scammers can easily target bank account and credit card information.

 

 

Now that you know all the possible pros and cons of both lockers and bank accounts, which do you think is preferable for you?

 

In our opinion, if you want to save cash or mostly do money transactions, then opt for a bank account; but if you’re going to safeguard something else like gold bars or some important documents, then go for lockers. On a side note, if you are storing important documents in the locker, then keep a copy of them with you just in case.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Debt is a common word in the lives of individuals and corporations. Debt is defined as the exchange of money between the borrower and the lender, with an interest rate charged on the borrowed amount. Individuals and organizations take debt for several reasons. For example, if a student wants to pursue an education in another country but is unable to pay for the expenses, then he may take a loan from the bank or any other lender. Similarly, organizations take out loans to expand their businesses. The debt must be returned on a later date, as decided at the time of the borrowing. The amount borrowed minus the payments is called the principal.

Along with the principal, the borrower has to pay interest monthly or annually. Debt may be good or bad. This article discusses the types of good and bad debt and helps readers in making smart debt choices. Check out America's Best Bookkeepers

Good Debt:

Good debt is a debt that helps increase the net worth of the borrower and generates income and helps achieve a sustainable future. One of the most common good debts is an education loan. Getting a good education from a reputable institute means that one has learned from a seasoned faculty and studied in a competitive environment. Quality education is also associated with well-payed jobs and more employment opportunities. A college degree will soon pay for itself, so the loan is worthy. Such debt is good debt. A mortgage is another good debt used to finance a house. The value of real estate grows exponentially, and having a shelter is one of the basic needs of life. A mortgage is good debt because of its increase in value in the future. One must look for investment opportunities such as buying shares or property that will increase the net worth of an individual and finance them through debt if required. Check out America's Best Bookkeepers

Bad Debt:

Debts that are used to buy depreciating assets are bad debts. The value of such assets does not grow in the future. Instead, it depreciates. These assets do not contribute towards earning income for the borrower. One of the common bad debts is an auto loan. Buying a vehicle is expensive and costs a lot of money. Although people have become accustomed to traveling in their cars and consider it a necessity in today’s world, paying interest on a vehicle does not add to the value of the borrower does not help generate income. Also, the car depreciates over time, and it’s valued for less when resold. Auto loans fall under the category of bad debt. Another common bad debt is credit cards. The interest rate charged on credit cards is high and higher than that of consumer loans. The customers have to pay a lot of extra money along with the borrowed amount. The balance on a card is bad debt. Check out America's Best Bookkeepers

Differentiating Good Debt and Bad Debt:

Borrowing money is a difficult decision to make because the borrower is always worried about the ways of paying back the loan as soon as possible. A loan is not always a good or a bad idea. If an individual or a company is taking out a loan for investing in an asset that will earn profits, then borrowing is a good choice. Such loans, called good debt, add to the assets of the borrower. But some loans are used when buying luxuries that may add to the comfort but do not add to the assets of the borrower. Such loans, called bad debt, become a liability for the borrower. One must avoid taking bad debt as it adds to the financial burden and does not contribute towards the net worth and income of the borrower. The interest paid on bad debt is not worth spending because it gets no returns to the investment.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Along with developments in technology in recent years, identity theft has been on the rise. Fraud statistics have significantly changed in different areas. Examples of identity theft occurring can be data breaching, stolen bank account information, and stolen credit card information.

Data breaches and undermined credit card cases appear in the news more often. With all the instances of data breaches, fraud is the first thing on everyone’s mind! Using Europay, MasterCard, and Visa (EMV) chip cards offer considerable options for making online payments secure and safe. But, EMV chip cards are not reliable when it comes to specialists predicting fraud. These cards are not able to offer security in non-card-present transactions. With the lack of security, these data breaches are sure to continue in the future. Check out America's Best Bookkeepers

Fraud statistics: Data Breaches

The first significant business data breaches started to appear in 2014 and continued into 2015. This threat to data safety and security is still lurking. The majority of the Americans anticipated it to be a short-lived trend.  This belief disappeared as large-scale businesses became the bull’s eye of cybercriminals. In September 2017, a massive data breach occurred at Equifax, the renowned credit bureau. The data breaches have continued to rise, but the advancements in cyber-security have advanced as well.

Fraud Statistics: Identity Theft and Card Fraud

Check out America's Best Bookkeepers During the years of 2012 to 2016 onwards, the FTC’s (Federal Trade Commission) online databank of customer complaints has amassed 13 million grievances in the year 2016 alone; it came up to 3 million. Of those, approximately 13% were linked to identity theft complaints, and about 42% to fraud.

Fraud-related grievances calculated up to be about 1.3 million. Customers stated that they had paid more than $744 million towards those fraud complaints. An average amount of $450 was paid to these companies. 51% of the customers who conveyed a grievance related to fraud also stated the quantity paid.

Around 55% of the grievances related to fraud listed a process of the first contact with the companies. Of those, about 77% were communicated by phone, whereas just 8% were initially communicated by email, and only 3% were reached by mail. Check out America's Best Bookkeepers

How are fraud victims affected

As per the report “Identity Theft: The Aftermath 2016” by The Identity Theft Resource Center, about 20% of the American citizens surveyed were victims of some sort of illegal ID theft in the year 2015. From those, about 9.2% stated that their ID was utilized to perform a financial crime, which ended in a custody permit.

The aftermaths of this illegal ID are astounding. About 55% of victims failed to fulfill their hours from work. Around 44% stated that they lost an employment prospect. Also, roughly 60.7% needed to borrow cash, and 29.5% were obliged to appeal for government aid, such as food stamps or welfare.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers

Ask any farmer, the biggest hurdle is not growing the produce but earning a living from it. Growers have to focus on operations and other factors to make a living income. One way for farmers to evaluate their processes to meet their monetary goals better is to share knowledge through farmer groups, meetings, and shop talk. But farmers may feel hesitant to share their financial information.

Between 2002 and 2004, a grower-led plan was introduced that used ratios that focused on net income for each acre of growth. The findings of the plan were summarized in a report called ‘Grower to Grower: Creating a Livelihood on a Fresh Market Farm’. This was a case study for farmers creating a fresh market farm. The focus of the study was on the financial aspects of this type of farming. These are the areas of focus for this study. Check out America's Best Bookkeepers

Farm Finances

The farmers and growers who were a part of this case study analyzed their sales, labor hours, and expenses over three years. This meant they had to have a sound financial plan and use accurate bookkeeping to gather the data for the study. These growers chose to associate the yearly net cash revenue they produced from their farms. They did not include factors, for instance, land costs, prescribed machinery usage, opportunity, and depreciation costs.

Marketing

Check out America's Best Bookkeepers For a farmer, selling produce directly to the customers is the center of their marketing plan. This is accomplished through retail outlets, farmers’ markets, restaurants, etc. On-farm sales, while less common, are another way this is accomplished.

Farming Equipment

Farming equipment is essential and has to be the best quality. This is so that the equipment lasts for a long time to come. Those farmers who have vast acres of land need to put a lot of investment into their equipment to make sure they can have high production.

Crops:

In the study, the organic farms had different crops, some more unique than others. Variation and diversification help prevent pest buildups. It also provides some protection against crop failures, if any. The challenge that the farmers faced was learning how to grow these different kinds of crops. To be successful, they had to adjust and learn everything they could about growing these lucrative crops. Check out America's Best Bookkeepers

The data contained in the study has helped growers as they set fiscal and life goals for their farms and shape their strategies to realize those goals. There is no ideal size for a fresh market vegetable farm; growers have to use their managing skills and financial assessment tools to figure out the scale and level of streamlining that makes the most sense for them. This study also worked to compile data regarding financial issues while understanding the farmer’s reluctance to share financial information.

 

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Business growth is an organic process that is a response to the effort of the business owner. An excellent promotional strategy is based on limiting the ideas that may devalue the restaurant. Do not create an unsustainable customer expectation like getting 50% off. This article will give guidelines to promote the restaurant and will help in building a customer base.

  1. Sign-up for Success

Signs and logos help in generating a lot of business. The placement of in-house signs and menu boards is important. The restaurant can also advertise through their ad printed on receipts and printed versions of the menu that the customer can take home. These techniques will help in building a customer recall about the brand, so in-house signage, ads on receipts, and menu distribution can produce repeat business. Check out America's Best Bookkeepers

  1. Get the Website Ready

A responsive website is essential to get the greatest reach. It should be a priority because all marketing will be based on an effective, functional website. The site is as important as the physical location of the restaurant.

  1. Define Goals

Create a business map that lays out the plans to reach customers. Knowing the demands of customers can help the restaurant to build customer loyalty. Once the owner identifies his target customer, it will become easy to plan an effective marketing strategy. Check out America's Best Bookkeepers

  1. Optimizing Online Presence

Optimizing online presence is essential to target the restaurant’s market. For effective marketing and customer retention, get the menu online. Nowadays, customers often make online reservations or orders via a computer or smartphone, so it needs to be easy for them to access the menu.

  1. Use Multiple Promotional Channels

Assessment of effective marketing channels helps the restaurateur to achieve short-term as well as long-term goals. It requires a proper action plan to market the business successfully. The restaurant owner should break down his marketing budget. The suggestion is that 80% of the budget should be for digital marketing and 20% for traditional marketing such as TV commercials, newspaper ads, and hoardings. Always refer to the website to get the greatest promotional advantages. Check out America's Best Bookkeepers

  1. Use of Social Media Platforms

Social media is one of the most effective and efficient promotional tools to get maximum reach. If a restaurant is lacking in social media presence, it can lose touch with the essential market. To find out what is best for the customers and cuisine, restaurateurs must get involved with all the social media platforms. The owner must post related content and keywords to get the most customer engagement. 

  1. Cinema-graphs

Everyone spends a lot of time looking through social media feeds. We all are looking for the next big and exciting thing to catch our eye. This is where cinema-graphs shine. Cinema-graphs are creative yet sophisticated gifs that look like an HD image. By looking closely, a person can see that the photo is continuously moving. Creative cinema-graphs are a great way to grab potential customer’s attention.

  1. Communicate, Interact and Engage

Digital tools such as smartphones, along with other social media related platforms, can help a person directly get in touch with potential targeted customers. Use these platforms to solve queries, concerns, and answer relevant questions to show devotion and commitment towards your product and clients.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers