Getting a five-star rating from CNET is nothing to be humble about. NolaPro is a cloud-based accounting system that includes invoicing, order tracking and inventory tools. Not just for accounting, NolaPro also has extensive CRM capabilities and is customizable for your business. NolaPro can also act as an employee time clock, do your payroll and integrate with other Web apps. It’s also available in a desktop app. You can try the NolaPro tool for free for 30 days; after that, subscription rates start at $9.99 a month.
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Posts Tagged ‘accounting’
Web.com Small Business Toolkit: NolaPro (Cloud Accounting)
February 27th, 2013 :: Maria Valdez HaubrichWeb.com Small Business Toolkit: Lettuce (Order Management Tool)
January 10th, 2013 :: Maria Valdez HaubrichKeeping track of orders is a necessary evil of small business management that becomes even harder if you don’t have a good system in place. Finding a good order management system for a small business, however, can also prove to be a challenge. The creators of Lettuce also had that issue, so they developed an app to track your order and automate the entire process. Since the app is mobile you can capture orders anywhere and focus less on paperwork and more on the sale. Then use the analytics tools Lettuce provides to gain valuable insight into your business’s bestselling (and worst-selling) products.
Google+10 Ways to Stay Competitive in 2013
January 9th, 2013 :: Rieva LesonskyBy Rieva Lesonsky
Is your small business doing all it can be to stay competitive in 2013 and beyond? The latest Citibank Small Business Pulse survey spotlighted 10 actions the most successful small business owners take to keep their companies competitive. Are you doing them?
1: Do your research and get educated. Some 88 percent of small businesses surveyed say they regularly work to stay up to date and knowledgeable about their industry and changes in the market.
2: Work hard and do what needs to get done. Successful small business owners are dedicated—so much so that more than half (53 percent) say they didn’t take a vacation last summer.
3: Update or upgrade technology. Nearly 70 percent of respondents say they recently updated or upgraded their computer systems, and 51 percent have made a major change to their business technology.
4: Know your clients. More than two-thirds (67 percent) say they are spending more “face time” with customers to keep their businesses ahead of the pack. Such client relationships also help entrepreneurs stay on top of industry and market trends.
5: Keep a close eye on cash and budgets. Many small businesses say they are keeping cash in reserves and spending cautiously. No wonder: Some 58 percent admit that cash flow issues have been a major challenge in the past few years. However, 73 percent feel they are doing a good job of managing their cash effectively.
6: Be involved. Small business owners are taking part in their business and local communities: 51 percent have built a network of suppliers and partner companies, and 47 percent say they have become more active in the community and local organizations.
7. Be prepared. If another economic downturn occurred, 80 percent of survey respondents say they could handle it. They’ve learned from the recent recession, in which many of them took steps such as running leaner, cutting operating costs and renegotiating contracts.
8: Plan ahead. Some 27 percent of small business owners say they can predict their cash situation four to six months ahead, which enables them to plan for the future.
9: Stick with your aspirations. Despite the challenges of entrepreneurship, nearly two-thirds (63 percent) of business owners polled say they are living their dream; three-fourths say they would do it all over again.
10: Market, market, market. More than half (53 percent) of small business owners say they’ve upped social media and online advertising in the last year, while 54 percent improved their websites and search engine presence.
Image by Flickr user Generationbass (Creative Commons)
Google+What’s Stopping Your Small Business From Getting Paid?
October 9th, 2012 :: Karen AxeltonBy Karen Axelton
The nation’s small business owners are feeling increasingly optimistic, but are still struggling with cash flow concerns, according to the most recent Western Union Small Business Barometer. More than three-fourths (79 percent) of small business owners in the nationwide poll were optimistic that their annual revenue would either stay stable or increase in the next 12 months.
That’s good news, but concerns about cash flow and sustaining revenues top the list of worries that plague small businesses. Here’s some of what the survey found:
The smallest businesses are much more worried about their financial stability. Twenty-four percent of those with sales of $100K-$250K and 21 percent of those with sales under $100K cite “getting paid to ensure cash flow” as a top concern.
When it comes to money, small business owners are exhibiting a cautious rather than growth-oriented mind-set. Asked what they would do with extra cash reserves, 57 percent say they would pay outstanding bills and 47 percent would save the money. Just 22 percent would invest in sales and marketing, and only 16 percent would invest in IT, facilities or systems.
Asked what is the best part of owning a small business, the number-one answer was “control over income.” Yet small business owners in the survey are failing to take control of their income by performing some key steps that could help them get paid faster and more reliably, including:
Electronic invoicing. Over three-fourths of small businesses in the survey still use non-electronic invoicing. More than half print from a software program and hand-deliver or mail their invoices, but 25 percent still handwrite invoices.
Electronic invoicing is simple to do today, and many clients (particularly in business-to-business industries) prefer it. If you’re worried that electronic invoicing is too costly, consider this: The smallest businesses—those with sales under $100K—were most likely to use electronic invoicing. This could be because they’re younger (and have younger owners), or because they’re on tighter budgets and realize how cost-effective electronic invoicing can be.
Following up on late payments. Small business owners’ approach to late payers is less than effective. When faced with past-due payments, the vast majority (80 percent) send another invoice. About one-third send a past-due notice or an email. Just 38 percent make a phone call.
Thirty-one percent admitted the reason they send emails is to avoid a confrontation. No one likes to confront a client, but if you’re concerned about getting paid, you need to bite the bullet and pick up the phone. Emails can easily go unanswered—phone calls less so. And often, a simple conversation is all it takes to clear the air, work out a payment plan and ease your worries about whether you’ll ever get the money you’re owed.
How do you handle these issues?
Image by Flickr user meddygarnet (Creative Commons)
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Web.com Review: Small Business Resource: Xero: Online Accounting Software
August 28th, 2012 :: Maria Valdez HaubrichIf you’re only seeing a snapshot of your business’s finances around tax time, you’re missing out on day-to-day and seasonal ups and downs that could provide important insight into your business. With Xero’s cloud-based accounting platform, your business’s finances are accessible anywhere you are. Plus you can increase your chances of getting paid on time by always being on top of invoice terms and due dates. Xero’s dashboard is easy to read, and if you want extra help on using Xero’s system, you can take training and watch webinars to make the most of their tools.
Google+MasterCard Business Network: Online Finance Tool: Small Business Resource
August 6th, 2012 :: Maria Valdez HaubrichMasterCard has recently launched a new online tool for small businesses called the MasterCard Business Network. Based on feedback from small business owners, MasterCard is helping small businesses by giving them the payment power of big business. The goal of the network is to offer tools and pricing that were previously only available to large companies, and to give smaller businesses leverage so they can purchase at better prices than they would normally get by themselves. Participants receive access to exclusive discounts on more than 650,000 products from national distributors; help with travel and dining booking and management; and the capability to create, save and print basic expense reports for free.
Google+Timewerks: Billable Time App: Small Business Resource
July 25th, 2012 :: Maria Valdez HaubrichIf you or your employees bill by the hour (or minute), there’s no time to waste: Download the handy app from Timewerks. Available for your iPhone or iPod touch, Timewerks lets ffreelancers, consultants, contractors or salespeople keep track of their time quickly and easily. The app lets you track multiple clients; add timesheet hours and capture notes for each project task; and invoice for billable items, materials and expenses. The app has a built in stopwatch and the timer keeps running even if the application is closed. Bonus: No network connection is needed.
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There’s Good News and Bad News About the Small Business Economy
May 15th, 2012 :: Rieva LesonskyBy Karen Axelton
Are small businesses taking a cue from the nation’s consumers—in other words, borrowing less and paying down debts? That seems to be the case based on two separate reports out from PayNet.
The latest Thomson Reuters/PayNet Small Business Lending Index declined in March, which could indicate slowing in the nation’s economic growth. The Index tracks the overall volume of lending to small businesses nationwide. In March, it declined to 98.5, down from 101.8 in February. Although small business borrowing did increase 10 percent compared to the same time last year, that is the smallest 12-month growth rate since January 2011.
On the plus side, a separate indicator from PayNet, its most recent 30+/90+ Day Delinquency report, found that small businesses are having no trouble paying off their debts. The report, which uses real-time datat to measure the percentage of loans to small and medium-sized businesses that are past due by 30 or more days and 90 or more days, found that accounts in moderate delinquency (late 30 days or more) dropped to 1.39 percent in March, down from 1.47 percent in February. At their height in May 2009 these accounts hit 4.42 percent.
Accounts in severe delinquency (late 90 days or more) hit a record low of 0.34 percent in March. That’s down from 0.36 percent in February. And accounts in default (late 180 days or more) dropped to 0.48 percent in March, down from 0.50 percent in February.
There’s good news and bad news in these two reports. Clearly, the fact that business delinquency is down is a positive sign for the health of the nation’s small businesses. At the same time, the lack of interest in borrowing could indicate small businesses are either feeling uncertain about the nation’s economy, have given up on getting the financing they need, or are feeling too cautious to expand their companies.
What financial steps are you taking in your business these days? Are you focused on debt repayment, or on expansion financing?
Image by Flickr user Vectorportal (Creative Commons)
Google+BusinessIQExpress: Business Credit Evaluation Tool for Small Businesses: Small Business Resource
May 14th, 2012 :: Maria Valdez HaubrichIn this recovering economy it’s not enough to get new customers; you need to get new customers who can pay you. Experian, the leading credit scoring company, has developed a new tool to help small businesses to manage their risk by evaluating, monitoring and collecting from their customers. With BusinessIQExpress, small businesses can search Experian’s extensive database to find a potential business and see what kind of risk the company would be before entering into any kind of relationship. Once the customer is part of the small business’s portfolio, BusinessIQExpress will monitor the customer and alert the small business of any changes (good or bad) to the customer’s credit risk. There are also tools for collection, if the situation comes to that.
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Which States Are the Best (and Worst) for Business Taxes?
April 24th, 2012 :: Maria Valdez HaubrichBy Maria Valdez Haubrich
Are you considering where to move your business or open a second location or new headquarters? If so, you’ll want to take a closer look at the latest report from the Tax Foundation, Location Matters: A Comparative Analysis of State Tax Costs on Business.
The “apples to apples” study, done in conjunction with KPMG, created seven imaginary companies of different types and assessed all the taxes they would face in different states. The report considered situations such as manufacturing, retailing, and new startups (eligible for certain tax breaks) vs. mature companies. The study also considered “Tier 1” (major) cities and “Tier 2” (midsized) cities.
The types of taxes considered include:
- Corporate income taxes
- Capital taxes
- Unemployment taxes
- Sales taxes
- Property taxes
- Gross receipts taxes
Tax credits considered include:
- New jobs tax credits
- R&D tax credits
- Payroll withholding tax rebates
- Property tax abatements
So which states have the lowest tax burdens overall? For mature companies, the winners are Wyoming, South Dakota, Georgia, Nevada, Ohio, Utah, North Carolina, Maryland, Nebraska and Louisiana. The worst states for mature businesses were New Jersey, New York, Indiana, Massachusetts, Illinois, Rhode Island, Kansas, West Virginia, Hawaii and Pennsylvania.
For new companies, the states with the lowest tax rates are Nebraska, Louisiana, Ohio, Wisconsin, Oklahoma, Georgia, Kentucky, Arkansas, Wyoming and Utah. The states with the highest rates for new firms are Massachusetts, Rhode Island, California, Maryland, Colorado, Kansas, Pennsylvania and Hawaii.
Wyoming stands out as having the lowest overall tax cost of any state, followed closely by South Dakota. Wyoming’s score is nearly 52 percent below the national average while South Dakota’s is 44 percent below the average.
There’s much more detail in the report, including a closer look at what types of firms can expect what types of taxes based on their age and location in a Tier 1 or Tier 2 city. View or download the full report here.
Image by Flickr user Eric Fischer (Creative Commons)
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