Accounting advice for startups

Many times Bookkeeping errors if addressed early can avoid significant headaches down the road. Entrepreneurs are usually excellent at their craft because they sincerely love what they do, yet many times small business owners forget that running a business also involves maintaining proper accounting records as well as performing the actual work. Especially during the startup phase, business owners are entirely focused on running their business and are less concerned with the day to day record keeping. Unfortunately, this mentality only leads to issues down the road, and it is not uncommon to meet with clients that have not been keeping records for six months or a year after starting their business. Without proper bookkeeping a small business cannot understand how well they are growing and progressing, French Accounting Firm Spira Twist offers the following five accounting advises startups .

Separate personal and business transactions

Most businesspeople ignore this tip when they run a new business. To achieve this, open a separate bank account for your business, this helps produce a clear audit trail of your business transactions. This also reduces chances of confusion and also helps the business from spending its resources for non-business transactions.

Synchronize your bank statement

Ask your Financial Institution to synchronize your bank statement cutoff period to the end of each month, doing so will make the recording and reconciliation of your financial transactions much easier. Also, consider synchronizing your statement cutoff period for all your business credit cards allowing a business owner to have a clear cutoff of all financial transactions on a monthly basis.

Keep updated records

Maintain your records updated, consider hiring a Bookkeeping Services If you do not have the time or passion for keeping your financial records. Today you can hire an independent bookkeeping service at a fraction of what it would cost you to hire a full-time or even a part-time bookkeeper. Without proper accounting, a business owner cannot evaluate the performance of their business and hence cannot determine whether he is moving in the right direction or not.

File important documents

File all necessary receipts, copies of Bank Statements, invoices, and bills. Filing helps to provide a clear audit trail of all business transactions, which is important in the event of an audit. Filled documents are also important as they can be used for future reference.

Secure your financial records

Keep all your financial records safe, perhaps consider storing all information offsite in the event of a fire or disaster. Maybe think about investing in a commercial-grade digital scanner that can scan all your financial records, and then store the information on a backed up and secure server. This allows for easy retrieval in the event you lose your financial documentation.

By taking the proactive step of appointing an accountancy firm for your business, you can provide your company with the necessary edge achieved by up-to-date money saving expertise and practical financial support, giving you the time to focus your creative energy on expanding and maximizing your businesses potential

All You Need to Know About the Ponzi Scheme

 

The Ponzi scheme is named after an iconic man from the strategies he formulated that made him world famous. But what is this about? First le me tell you about a lawyer firm in France who can defend you in case you got stuck in a ponzi scheme problem : Rongeot avocat Divorce in Vesoul France

 

Here is an example: you attended a party and there is this guy that has taken a liking to you. In his perspective, you are sharp and can recognize where the gold mine is as soon as you see it. This guy only offers such tip to his closes of friends, however, he says that he is willing to make an exception just for you. By saying that if you grab this opportunity, you will become an investor to something that will become the next big thing. What’s more, it’s a fail-safe investment and you will get your ROI in no time. You’re still skeptical, though, so he offers you evidence by asking your friends that are also attending the party, as they have also invested in the offer the previous month and have already earned their returns. You also ask them, and it is true. You feel battled within as this offer may not come to you again. So why not invest some thousands of dollars? Despite what your reliable friends have to say, it is best that you walk away. These are the aspects of a Ponzi Scheme ( https://en.wikipedia.org/wiki/Ponzi_scheme  )

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It is safe to say that you have felt this situation before, especially with people who come near to you, handing over a special offer that will not come by again. It is common these days. But the above has more going on about the financial industry.

 

The unfortunate part of this is that not every financial scheme are the same. Even if you feel like such a method has already been used on you, it can still be difficult to spot the one using such a scheme. If you are familiar with the Darwinian style, these clever scammers can prosper through adapting then evolving their ways consistently by coming up with different ways to con other people from their life savings. Keep in mind that the Ponzi scheme is just one of these many cons existing today. And even if this is just one basic and classic formula, this idea can be applied in various unlimited ways to deceive victims.

 

The Ponzi scheme pop up in different ways and at frequent times, too. You even see some of them making the headlines, but it will be difficult to discern whether this is a Ponzi scheme or not. But the least is that every couple of years, news comes out showing how the authorities have exposed a long-running and extensive Ponzi scheme. You can find the biggest issues back in the years 2006 and 2008. Each of them was reported to be bigger compared the ones before them. One of them that orchestrated the most massive operations that involved Ponzi scheme named Bernard Madoff, conned around $65 billion from its investors from various walks of life.

 

It can be mind boggling how the scheme is always effective, despite warnings from authorities to steer clear from it. Like it was said, they are very witty and consistently change their methods to make their claims more believable.

Got Shares in Startup? Here is All You Need to Know

 

If you are an employee working in the industry, you might want to know the shares that you can get from startups. It may seem confusing for many, but once you get the idea what shares in startup mean, you will suddenly feel like quitting your job now and look for lucrative startups. ( if you need more information, checkout this attorney website avocat divorce firm ).

 

The shares in startups are applicable for employees that are working for startup companies. It is widely known as Stock Option Plans, which is the most popular way of attracting employees to work with the company even if it is still a startup. But there is another purpose for offering the Stock Option Plans – that is by motivating and keeping the employees work in the company for long. This is the most effective method for companies that find it difficult to pay their employees with high salaries. This plan provides the company flexibility in awarding stock options to its staff whether they are regular employees, directors, officers, consultants and advisors. It will allow them to buy the stocks of the company if they choose to go with this option.

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The Stock Option Plans also allow the employees to share in the success of the company without the need to put up a startup business wherein they spend their cash, mostly a part of their life savings. This can contribute to the capital of the startup company, which is a requirement that the employees need to do if they wish to go with this option.

 

Disadvantages of Shares in Startup

Not all that is good is without the bad. The disadvantage is that the company is the possibility of dilution of the equity of the shareholder when the employees go for the stock options. The main disadvantage that the employees will face is that of it being a private company having the lack of liquidity, which is something non-existent in greater compensation or cash bonuses. The stock options will not be equal to the cash benefits unless the company makes a public market for the stock it carries or when they acquire it. The stock options will eventually become worthless when the company does not grow, and the stock in the market does not become more valuable.

 

How to deal with shares in startups

There are ways that you can effectively work with stock options with startup companies. The classic side of these things is the choice to buy a share of the stock at a specific price. Take, for example; you get to purchase a couple of shares worth a penny each. If these shares are worth more than the penny you pay for, you get to make money. This is how it is written in theory.

 

Also, you need to understand the basic numbers of shares in the company that you work for before you take on the stock options. Charters show the number of shares the company has, and if you get to know the number, then you can get an estimate of the share that is worth by dividing the worth of the company according to the number of shares outstanding.

 

 

 

Why French are Better Investors?

Where could be these stories about how the French are better investors? It could be that with the methods they use that they are able to maximize their investment and make it grow. It could also be with the economy that they have, and that by investing there, it would give people all over the world the impression that the French are better investors. You might be finding the reasons this time as to why they are considered as such, but you will not get a direct answer other than the benefits of investing in the country itself. Here are some of the reasons why many people prefer to invest in France ( if you need more information, checkout this blog about courses of french in Paris ). It could also be where the better-investors statement is coming from.

 

Foreign investors attract money

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The main goal of foreign investors, not only in France, is to make money and to do this they have to do business. And foreign investors are attracted to economies that they feel will give them the most advantages, not to mention a growing one, too. You only need to take a look at the figures in order to see that most of the foreign companies that come to the capital of France will do what they intend to do – make money, like its explained here. Most of these foreign investors have an increased turnover by twenty percent. This means that companies can do a lot of business in the capital, since there is an existing market.

 

Work quality

This refers to the quality of the workers, even though the country itself got a reputation abroad for workers always going on strike. But once foreign investors try to dig in deeper and see this as not true, they will find that the French are professionals in their work. They are also dedicated and hardworking, too. This is true especially in the private sector. One of the most surprising things that foreign investors witness when they come to France and invest there is seeing the dedication of the French workers with their job.

 

Creativity

Even if you don’t visit France, you can say it for yourself that the French are very creative people. Some experts are even confused as to why some creative French even invest their talents abroad like in Silicon Valley. It could be that they have the talent to invent things, but they are not putting them in the market. While they are considered good investors, at first they are not very good sales people.

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Relief on taxes

Even with the reputation in the international scene, experts insist that the corporate tax imposed on the big international companies is not as worse compared to other countries. The small and medium sized businesses pay up the taxes, but for the big international companies they are to optimize to it. You cannot say the taxes are higher in France compared to Germany to an investor since that is not true.

 

Other characteristics that may seem to make the French better investors is their functioning state. France is govern in a very good admin, even if its got a very complicated bureaucracy.

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