Expense Management Process

Practically Perfect PA

Collecting and processing expenses is not fun. In fact, I’ll go further as to say processing expenses can be an absolute time zapper for Assistants. Core Skills admin administrators assistants business travel EA Executive Assistant Expenses Office manager PA Personal Assistant Virtual AssistantThere I’ve said it – call me controversial if you like but I stand by my statement!

5 Potential Business Expenses

Small Business CEO

However, while you might have thought about expenses such as employee salaries and what it will cost to rent a brick-and-mortar location, you might have forgotten about certain other potential expenditures. We’ve compiled a possible expense list for you to peruse.

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Are Kids Too Expensive?

Small Business Labs

Of course kids are too expensive. According to the U.S. Department of Agriculture, it costs $234,900 on average to raise a kid. This is up from an inflation adjusted $191,000 in 1960. By  By the way, these numbers do not include college costs.   The chart below, from a Washington Post article on this topic , shows how this money is spent.      Not surprising is more people are citing this cost as the key reason they aren't having kids.

Are You Covering All Expense Bases?

Step It Up VA Coaching

As entrepreneurs/business owners, we take great care in setting rates, creating packages and tracking the hours we and our teams put in; but are our rates really paying for our expenses? Consider the expenses you incur in these areas: Rent/Mortgage: If you rent or lease an office space, be sure you can easily cover that, and any additional fees that are involved (maintenance, snow removal, etc.) by Donna Toothaker.

The tricky world of expenses

Practically Perfect PA

I must admit I’ve been struggling to start writing the blog this week, I knew I would be discussing the dreaded task of processing expenses and as I’m sure you can imagine the subject hasn’t really stirred my creative juices! Do you have an expense policy in place? If you don’t have an expense policy, speak to other assistants and see if there is a common approach to expenses. Try to do all of your expenses at the same time at least once a week.

6 Ways to Slash Businesses Expenses This Year

Small Business CEO

As a business grows, it’s easy to let expenses scale up proportionally. If this is true in your situation, you may need to revisit the drawing board and slash some of these unnecessary expenses. To improve your bottom line, you either have to increase your income or slash your expenses. Expenses represent the lower hanging fruit.… … The post 6 Ways to Slash Businesses Expenses This Year appeared first on SMALL BUSINESS CEO.

5 New Expenses For Small Businesses That Go Global

Small Business CEO

We’ve compiled the following list of five expenses you may incur while preparing your business for expansion. Getting to know how each system works allows you to prepare for unexpected expenses around packaging and shipping. Researching markets carefully means avoiding expenses you weren’t prepared for.… … The post 5 New Expenses For Small Businesses That Go Global appeared first on SMALL BUSINESS CEO.

Understanding the Top Challenges of Expense Management

Small Business CEO

At the macro level, there’s a lot affecting businesses when it comes to expense management. For example, international expansions and globalization are two elements that are influencing expense management, and also making these costs rise in many instances. One of the best ways to address most challenges of expense management is to choose the right expense report software. … Finance Management business expenses expense management

[Free, live webinar] How should you be managing travel and expenses?

Practically Perfect PA

And expenses—what a nightmare. Managing travel can be a headache. You might still be writing long emails back and forth to your travel agent, wasting time searching for the best deals yourself, or having to wait for your travellers to send you the booking options they want. Every time they travel! You get thrown hundreds […].

2019 100

The Most Expensive Habit You’re Ignoring

Eat Your Career

It’s clear that far too many people are ignoring the incredibly expensive habit of stress. I’ve been a bit frazzled lately. Yesterday, I realized that my refrigerator was full of condiments but empty of real food. But the idea of going to the grocery store was almost overwhelming. I’d have to make a list, first off. And then, even after I had the food, I’d have to prepare it and clean up after myself.

5 Business Expenses a Startup can do Without

Small Business CEO

Many new company owners waste thousands that they haven’t earnt yet on illogical expenses, so here are just a handful that you should avoid. … Finance business expenses financial management startup expensesIt can be so easy to get carried away during the initial phases of setting up your own business, but it’s vital that you keep your head.

How to Find the Right Final Expense Insurance for Your Aging Parents?

Small Business CEO

Funeral expenses can be as high as $8,000. Cubeta from Insurance for Final Expenses suggests some of the best final expense insurance options you can choose for your parents.… … The post How to Find the Right Final Expense Insurance for Your Aging Parents?

2021 52

A Guide to Managing Travel Expenses for SMEs

The Small Business Blog

With the cost of fuel, rail and air travel increasing each year, managing employee travel expenses is a key area of concern for many businesses. Further to being expensive, booking and organising travel is a time… Smaller companies, with lower travel budgets and fewer resources, often find the process particularly difficult to bring under control.

What Are the Benefits of Final Expense Insurance?

Small Business CEO

… The post What Are the Benefits of Final Expense Insurance? Finance Final expense insurance insurances personal financeLife insurance is a measure of protection that you take out for your loved ones in the event of your death. The greatest benefit of life insurance coverage is the ability to name beneficiaries. The average life insurance policy can be anywhere from $250,000 to $500,000.

Webinar Employee Expense Reimbursements: Compliance Workshop

Office Dynamics

Get educated now on the new rules of employee expense reimbursements! Employee Expense Reimbursements: Compliance Workshop. The legal and financial risks of mishandling employee expense reimbursements have spiked in recent years. Do you know which reimbursements for employee expenses should be treated as expenses … and which as compensation? 12 for answers to questions like: Which employee reimbursements should be treated as expenses and which as compensation?

Information Is Cheap, Action Is Expensive

Brilliantly Better

Information, on the other side, was very expensive. Information is extremely accessible, while action seems to became the most expensive merchandise in the world. Tweet Remember how understandable it was to be late 20 years ago? It wasn’t like the world will collapse if you’re late 5 minutes. There were no cell phones. If we had to meet you, and you were late, we first assumed that you simply forgot.

Limit Expenses as an SME – 5 Actionable Points

Small Business CEO

As an SME it’s easy to rack up more expenses than what you are generating in revenue. … Finance business expenses financial managementSpending on suppliers, vendors, employee perks and taxes can get out of hand in the blink of an eye unless carefully planned. But there are several ways to limit expenditures that, by focusing on improving efficiency, can even make a company more profitable. Palletise large shipments.

Cost Cutting Your Business Expenses

Small Business CEO

Expenses can be a burden for any particular company. Since expenses cannot be eliminated, entrepreneurs must find a way to at least lessen the cost required for business operation. Manage your business in such a way that every small detail of your expenses will be recorded and you’re spending at the smallest possible cost. You must note that small expenses can pile up and often cut into profits. Operating and managing a business should not always be expensive.

Tax Deductible Business Expenses That Many Small Businesses Miss

Small Business CEO

Largely this comes from not understanding which business expenses are tax deductible. These business expenses are there for small businesses to exploit – so is there something your small business is missing? Expenses include cell phone bills for business calls, union dues, relevant magazine or periodical subscriptions, staff uniforms or business attire and memberships to relevant societies amongst others. Entrepreneurs Finance deductions expenses taxes

Green Home Initiatives and Cutting Expenses: What to Know

Small Business CEO

One of the most popular recent trends in housing and real estate has been rise of energy-efficient homes. Home builders and buyers alike have started to consider implementing these “green initiatives” due to the environmental and financial benefits they hold. Energy-efficient changes in the home have not only decreased the carbon footprint of the homes themselves, but also proven to save households a great deal of money on their monthly bills over the long run.

Control Expenses – Automate Process Through Workflow Software

Small Business CEO

As the economy continues its recovery, keep your expenses constant as your revenue grows by reducing the amount of time it takes to handle transactions and being able to focus employees on exceptions. Tags: CEO Leadership Entrepreneurs expenses transactions workflow software Do you find yourself spending time trying to figure out what happened to a customer’s order? Interested in keeping staffing counts stable while growing revenue?

5 Costs You’ll Incur While Working at Home (And How to Minimize Each)

Small Business CEO

Economy & Environment Finance Management business expenses expense management working at homeYou love working at home. But is it a drag on your finances?

2019 65

3 Simple Steps To Manage Your Budget And Cashflow

Office Organization Success

Put simply, a Cashflow projection shows whether your anticipated income will be able to cover your expected (projected) expenses and this report is very beneficial to you in your business. Create a column that lists all of your expenses, i.e. office supplies, legal & professional fees, membership, advertising etc. Taking your financial data from your bookkeeping system input your actual income and expenses, and list any projected expenses in the appropriate row/column.

Budget 100

6 Money-Drainers of Small Businesses (and How to Overcome Them)

Small Business CEO

Some expenses are like a dripping faucet: you know it’s there, but it seems insignificant, so you let it go on too long. … Finance business expenses financial leaks unwanted expenses Is your business seeping cash for no reason? Others are more like a broken pipe underground, well-hidden but causing massive damage. Here are some places to check for financial leaks so you can stop your biggest money-drainers. Watch Your Staffing Costs.

2015 81

3 Key Ways Your Small Business Can Save

Small Business CEO

… Finance business expenses cut expenses save moneyKeeping down costs as much as possible without sacrificing quality is critical to any small business if it’s going to stay competitive, maintain a high customer satisfaction rate, and ultimately grow into a medium or even large-sized business somewhere down the road.

2018 55

5 Ways Businesses Can Streamline Their Processes and Save on Manpower

Small Business CEO

Guess what; there might be one area you could look at that could save you up to 50 percent of your expense bill by the end of the year. … Management cut costs manpower expensesAre you looking for ways to cut business costs? Take a gander at the cost of skilled labor. For instance, we all know that starting a business requires good market research and an accountant or a CFO to ensure you make more than you spend.

2016 78

Top 6 Areas to Invest Capital that Will Grow Your Business

Small Business CEO

Finance business expenses capital spendingIf you have recently come upon additional capital or funding for your new business – congratulations! The next step is to make sure that you’re spending the money wisely to take your business to the next level.

2019 60

Top 10 Best Financial Resources for Women

Bonnie Low-Krayman

Plus, life isn’t cheap, with planned and unplanned expenses, some days it may feel like your household finances are going downhill fast. Going back to school can be a great, yet expensive, option to get where you want to be. By Bonnie Low-Kramen.

2021 60

Best service to clients? The truth.

Virtual Moxie

It’s this notion that working with a VA is less expensive than hiring employees—in part, because the client doesn’t pay for things like benefits, where an employer would. AND , I suggest they actually talk with VAs they consult with about profitability because a VA who covers her expenses and is profitable is a much better long-term choice than one who is clueless about this stuff. Look, we all pay the expenses of the businesses we buy from.

2010 126

Beyond Office Hours: How a Virtual Receptionist can Help You Win More Business

Small Business CEO

… Customer Service Management cut expenses virtual receptionistA receptionist is essential to any growing business. The more time you and your front line staff spend talking on the phone when you could be working for your clients, the less money you’re making at the end of every month. This is a big problem considering there are only so many hours in the day to get everything done, and still ensure 100% customer satisfaction.

2018 40

Tips For Cutting Small Business Costs

Small Business CEO

If you find that your business is strapped for cash and you need to trim some expenses, here are 10 Ways To Control Business Costs. Now that it’s tax season, maybe it’s a good time to double check your expenses to see where you’ve been overspending. And things like keeping a tight reign on expenses can get easily overlooked and neglected. Economy & Environment Entrepreneurs Finance budgets expenses operations

2012 60

Five Surprising Health Insurance Tax Tips For Small Business Owners and The Self Employed

Small Business CEO

Deduct health insurance premiums as a business expense - If you had self-employment income in 2010, you may also be able to deduct health insurance premiums you paid for yourself and your dependents as an ‘above the line’ business expense (that is, without itemizing) on your federal tax return. Also, keep in mind that you may not be able to include what you paid toward your monthly premiums as an ‘above the line’ expense AND itemize it as described in the next tip.

2011 74

Keeping Cloud Computing Costs in Check

Small Business CEO

Entrepreneurs Information Technology cloud computing expenses softwareThe cloud is a boon for companies with small budgets and small (or no) IT staff. It is seen as a way to keep costs in check. But as so often happens with budgets, there are expenditures that you plan for, and then there are the costs that seem to appear out of nowhere. The cloud, of course, is not immune to cost overruns.

2012 77

How to Create a Budget: 6 Steps to Get You on the Path to Financial Security

Success

We all know expenses exist, but the numbers keep adding up—rent, water, trash, electricity, cable, Internet, car insurance, renter’s insurance, gas, cell phone. Check out your expenses from last month and then categorize each transaction. Set goals and adjust your expenses.

2021 70

Cloud Questions That Your CEO Will Ask

Small Business CEO

Entrepreneurs Finance Information Technology cloud computing expenses softwareOne of the first things a young lawyer learns is “Never ask a question in the courtroom that you don’t already know the answer.”. Now put yourself in the conference room with your CEO. Topic of discussion: The Cloud. You’re boss will be taking the opposite approach of a lawyer; they’ll be asking you a lot of questions that they don’t know the answer to.

2012 77

How To Reduce The Costs Of Technology In Your Business

Small Business CEO

Entrepreneurs Finance Information Technology budgets expenses technologyEvery company is concerned about the bottom line. Without that attention to detail they’ll constantly be throwing good money after bad. The quickest way to score points with upper management is to show initiative through developing cost cutting measures. One area where you might have an advantage is by taking a comprehensive review of the costs of your business’ use of technology.

2012 75

Top 5 Tips on Building a 6 Month Cash Reserve

The Small Business Blog

Add up all your monthly expenses so you can estimate how much money you will have left each month. The best tip from my point of view would be to avoid unnecessary expenses. I’ve found that reducing costs, eliminating non-profit generating expenses, and streamlining business tasks all helps to increase the bottom line, which, then helps you save more money. Then try and remove or refinance the most expensive lending. E-Mail me or follow me.

2010 100

Reduce The Risk Of Employee Fraud

Small Business CEO

One of the easiest ways for employees to steal from a company is through the use of Expense Report Fraud. Expense report fraud can occur in many ways, but one of the most common forms is to cheat on lodging, meals, airfare and fuel expenses. Meals expenses are also easy to fudge. Set up a review process for all expenses that are submitted. Create an expense timeline to see if the purchases could actually have been made as they are outlined on the expense report.

2011 61

Beware of Career Marketing Firms

Job Advice Blog

Home Founder Resume Writing Career Coaching Marketing Yourself Selling Yourself Job Stress General Advice Interview Skills "The Relocated Spouse [link] — jobconnection Beware of Career Marketing Firms On August 29, 2010, In Interview Skills by Alex Freund , By Alex Freund 0 Last week I received a request from a family member of mine in transition. He was asking me to evaluate a proposal he had received from a career marketing firm.

2010 100

What Every Entrepreneur Should Know About Small Business Credit Cards

Small Business CEO

When it comes to keeping a business running, you’ll need to continue buying supplies and covering many other expenses that are associated with business operations. Many business owners choose to cover these expenses through the use of small business credit cards. Advantages: • Record Keeping - When it comes to compiling an expense report, it can sometimes be as simple as looking over the company’s credit card statement. Finance accounting credit cards expenses