• Business,  Finance

    What is a Book Keeper

    So you want to hire a bookkeeper? Because you are reading this article, then chances are that you do. However, you only have the vaguest idea of what a bookkeeper does, and so you want to know exactly this person’s job is. And we’re glad that you’re doing that because it helps you find one who fits the job perfectly, and you won’t go into the trap of expecting something that’s out of your prospect’s job description.

    And that is why we have written this article for you. In the following paragraphs, we’re going to talk more about what a bookkeeper does, for your reference. So if you’re ready, then read on.

    Actually, the job of the bookkeeper is pretty straightforward. The most basic requirement for the bookkeeper is to keep a daily journal of all the financial transactions done by a business. So for example a client paid you X amount of dollars yesterday, it is the bookkeeper’s job to put that on record, usually on a ledger. Meanwhile, if you purchase a new office chair, the bookkeeper will record that too.

    The job of the bookkeeper isn’t limited to that, of course. Some Parramatta bookkeepers can provide other services, including invoicing, inventory management, and keeping track of accounts payable and receivable, just to name a few.

    While it seems that you could simply hire anybody to do your bookkeeping requirements, it is always recommended that you get somebody who at least has a diploma in accounting. This leads us to another sub-topic: what’s the difference between an accountant and a bookkeeper?

    The Difference Between a Bookkeeper and an Accountant

    The main and the most obvious difference between the two is that an accountant is often a Certified Public Accountant (CPA)–somebody who is certified by a particular regulating body–or somebody with a master’s degree in accounting, while a bookkeeper doesn’t necessarily need to have these qualifications.

    Another thing is what a bookkeeper and an accountant does. A bookkeeper generally simply logs in the money that comes in and out of the business. Meanwhile, it is often the accountant’s job to adjust the finances of the business, and prepare its financial statement. An accountant also presents financial reports to the business owner or the decision makers so that they can assess how to handle the company’s finances even better.

    Of course the accountant could also do the bookkeeper’s job. However, in the case of big companies, they often hire bookkeepers to record the daily transactions conducted by the company, while the accountant supervises what they do.

    There you have it, some of the most important things you need to know about what a bookkeeper does. So if you need extra help in recording your business’ financial transactions, then chances are that you need Bookkeeping services Parramatta. However, if you need an expert advice on how to improve your business finances, then you likely need an accountant. Either way, you will at least need to have a bookkeeper to make your work a lot easier for you.

  • Finance

    Debt Consolidation – A Basic Definition

    Debt consolidation, in basic terms, is a process where several liabilities, such as credit card payments, are combined into one convenient loan payment. When you consolidate debts then, you must take out a new loan in order to pay off your loan obligations or current debt. Therefore, consolidating your debt lowers your overall rate of interest and makes it easier to pay off your obligations as they are all combined into one simple monthly payment.

    Using Debt Consolidation to Reduce Credit Card Obligations

    Typically, most people will consolidate the debt on maxed-out credit cards, or may use this form of financial relief to consolidate loans on vehicles or student loans as well. However, consolidation generally works best when you have outstanding credit card debt as most credit card companies assess high interest rates on loan amounts. Therefore, taking a samla lån and combining all your credit card payments into one easy-to-pay lower interest payment just makes good sense.

    Secured and Unsecured Loans

    People can consolidate debts by either taking out a secured loan or unsecured loan. A secured loan is also called a signature loan as you only need your signature to obtain the loan amount. A secured loan, on the other hand, requires that you put down some form of collateral (such as your car or home) in order to obtain the loan.

    Making a Choice

    While a secured loan is generally offered at a much lower interest rate, you also may have to forfeit your home or car if you default on the amount and do not make timely payments. For example, some people take out a second mortgage or secured loan on their home to consolidate debt. However, as you can have your home repossessed if you don’t keep up with the payments, this may not be your best debt consolidation choice. If you can obtain an unsecured loan at a lower rate of interest than what you now pay on any outstanding amounts, then choosing this route would probably be a better way to go.

    Don’t Backslide

    If you have maxed-out cards, obviously you don’t want to make the same mistake again by falling behind and putting your home or car at risk. Consolidate your loans. Just make sure you take out a loan that will help reduce and eliminate your debt versus throwing you back into the mire once again.

  • Finance

    Cash Advance Loans

    If you are experiencing financial difficulties on Singapore, getting a cash advance is a logical solution. These types of payday loans online are not the same as standard bank loans that take long periods of time for acceptance. Instead, these loans provide you with quick funds when emergency situations arise.

    When you apply for one of these loans, you do not need to have any concerns regarding acceptance. Even if you do not have a good credit rating, your chance of acceptance is excellent.

    If you need immediate cash advances, all you need to do is fill out an application and the money is credited to your bank account with 24 hours. Additionally, the procedure for checking your credit history is not complex, which saves you time.

    One thing you do need to think about, though, is the fact that the time period for repayments of loans is short. You need to have the ability to repay payday loans somewhere between 15 to 30 days.

    In order to quality for a cash advance, you need to be a legal adult, your monthly term must equal at least $1,200.00 and you need to have a valid bank account. You also need to show proof of identity and your most recent paycheck stub.

    Various companies that offer loans have different qualification requirements.

    Even if the loan is for a small amount of money, a complete credit check is required, and sometimes a licensed money lender Singapore who is more popular charges higher fees. It is best, therefore, to pick a lender who charges acceptable fees.