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October 21, 2012

Pros and Cons while using Internet Banking

Almost everything has become available online since the rise of the internet, and from apartment hunting to food shopping, going online has become a daily aspect of people’s lives. It quickly became apparent that banking customers should be able to access their finances online instead of having to find the nearest ATM for a statement, and thus internet banking was born. Some people were sceptical, and others wholly embraced the technology, but there was no doubt that internet banking was the future.

Nowadays, nearly 70 per cent of banking customers are registered to manage their finances online, and there are many reasons why internet banking has emerged as a staple of everyday life. Apart from being safe, convenient and secure, online banking is available 24 hours a day,and you can also transfer money to a friend or loved one whenever you want. Furthermore, online banking allows you to access your statement anytime you like, and from the comfort of your home. Here’s a list of the pros and cons of internet banking compiled by the people who love and hate it the most.

Pro – It’s Cost Effective

Internet banking means that you don’t have to travel to your nearest branch or ATM machine to access your finances. That means that you’re reducing your carbon footprint, especially when you think how many times you would have to travel every month to see your finances if internet banking wasn’t available. Furthermore, internet banking means millions of customers can be served at the same time, meaning less queues in branches, and more happy customers.

Pro – It’s Paperless

One of the most important advantages of internet banking is that it is paperless – gone are the days where your monthly statement is posted through your door! Banks have reported to have saved millions of pounds in printing since the introduction of internet banking, and many have donated a proportion of their savings to sustaining the green environment.

Pro – Easy Loan Applications

Before internet banking, customers who wanted to apply for a loan or IVAshad to make an appointment with their local bank. Depending on where a person lived, that could be a long journey, and even worse, some banks couldn’t provide appointments until months after the initial application. Nowadays, people who are registered for internet banking can simply apply for a loan online! In just a few clicks, a customer can fill in some details and get an answer to their loan application in a matter of minutes.

Con – Bank Relationship

Internet banking may be convenient, but customers used to be able to build up a trusting relationship with their bank manager. If personal circumstances changed, people could ask to talk to their account handler and explain their financial situation. Apart from providing the customer with peace of mind, bank managers could use their discretion in changing the terms of an account to help a person with repayments. However nowadays, this relationship has been lost.

Con – The Internet

This may sound simple, but what if a banking customer does not have access to the internet, or they are blind? In these circumstances, a person will have to go to a bank directly and organise their finances in person.

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March 20, 2012

Three Things to Look for in an Accountant & Bookkeeper

Whether you’re a self-employed individual or the CEO of a corporation, it’s important to have reliable bookkeeping and accounting services. After all, there are myriad aspects of business that require accurate and detail-oriented bookkeeping. From taxes to general expense reports, a good accountant can make sure that your books are in order and that your bottom line is crystal clear. If you are seeking services for Southern California bookkeeping, San Diego is a great place to start, as several firms are likely to have the kind of expertise you require. Read on to learn three things to look for before hiring an accountant.

1) Complete Tax Filing & More

One of the things you want to be sure you have a handle on in business is your tax liability. The best bookkeeping firms should be able to make sure that everything is in order and ready to go when it comes time to file your taxes.

Tax services should include:

• payroll services

• sales and tax reporting

• expense reimbursements

• job costing

• inventory setup and management

• merchant account reconciliation

• Quickbooks setup and usage for streamlined tax preparation

• completion of your 1099s

Your accountant should be able to file your taxes via an electronic federal tax payment system. This can take the burden off your shoulders and free you up to focus on other pressing business issues.

Although taxes are important, your accountant should be able to help you with other financial matters, too. Expense reports, credit card reconciliation, budgeting and forecasting, as well as commission reporting, are just some of the many other business concerns that a bookkeeper should be able to tackle.

2) Experience

When choosing San Diego bookkeeping services, you want to be sure your business is in good hands. The best way to get accurate, thorough financial services is by choosing an accounting firm that has experience, like Allen Barron.

When it comes to accounting, every dollar is important. Accountants who have been in business for five to 10 years have been filing taxes and offering other services and advice for many kinds of companies and individuals, and thus have a wealth of experience. These kinds of individuals and firms would not stay in business if they didn’t consistently provide superb accounting and bookkeeping services. Thus, choosing experienced bookkeepers over startups can be your best bet when you can’t afford to take the gamble.

3) Convenience & Availability

Availability and convenience are also important when picking an accountant. You want to be able to reach your bookkeeping company whenever you have a question, comment or financial amendment to make. Companies that provide toll-free numbers, email addresses and physical addresses ensure that you can get in touch whenever necessary.

Go online today to find an experienced, accessible firm that can assist you with a full spectrum of financial considerations.

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