Marrio Phill | Rafters Blog

Why are Deposit Slips Important to Businesses?

Business by Marrio Phill on March 6, 2023

Deposit slips are a form of record keeping that banks and other financial institutions require. Individuals use them to deposit their money into a bank account. The deposit slip is a piece of paper with an account number, name and amount of money deposited into an account.

Here are ways in which deposit slips benefits businesses;

Helps with cash flow management

Deposit slips allow you to manage your cash flow from day-to-day activities, such as paying employees, suppliers etc. You will know when money has been paid so that you can use it for other purposes, pay bills, or avoid late payment penalties.

Help track money

Businesses can use deposit slips to keep track of the amount of money they have deposited. The slip is printed with a date, time and the amount that has been deposited. A receipt is also given at the end of the day. This helps in record keeping so that it is easy for businesses to know how much money they have in their bank accounts at any given point in time.

When you deposit cash into your business account, it is crucial to have a receipt. This will help you track where the money came from and who received it. It also helps keep records of all transactions in your business account.

Helps with tax compliance

When you deposit cash into your business account, it’s crucial to record each deposit’s date and amount accurately. This helps ensure that all deposits are recorded properly, making it easier for you to comply with tax compliance requirements imposed by the government.

Helps with reporting requirements

Most companies have reporting requirements that must be met when making deposits into their bank accounts each month or quarter. For example, some companies have reporting requirements related to their cash management policies, such as limiting how much cash can be deposited at one time or requiring that certain types of deposits be made only during certain days or times of day within a given period. When these types of requirements are violated, it can result in a fine from the government. So having accurate records of all deposits made into your business account will help ensure that you meet these reporting requirements.

Protects the customer

Customers expect to receive an itemized receipt when they pay with a credit card. The problem is that many businesses today do not provide these receipts. This can leave customers confused, frustrated and angry.

Improves cash flow

Deposit slips are also valuable because they help businesses manage their cash flow more effectively. It is easy for a business to run out of money at the end of the day if it does not have enough cash to cover all its expenses. Deposit slips help businesses track how much money they have in the bank at any given time to ensure they have enough to cover all their monthly bills.

Helps manage inventory

Deposit slips also help businesses manage their inventory more effectively by providing them with accurate information about what they have on hand at any given time so that they can better plan out their production schedule and storeroom inventory levels accordingly.

Key Takeaway

The benefits of deposit slips can be a boon for businesses. They can be used to track the deposits and withdrawals of money from the bank, which can help keep track of the account balance. The deposit slip also helps ensure that customers do not use any unauthorized credit cards or cheques to make payments.

Business

How to Best Manage One’s Cargo

Business by Marrio Phill on March 6, 2023

The transport and logistics industry plays a vital role in the economy, as it is responsible for the transportation of goods and services throughout the world. Cargo management systems have become an integral part of the industry, as they help to streamline the transportation process and ensure that goods are delivered safely and on time. A cargo management system is a software solution that automates the process of managing the transportation of goods from one point to another. It includes tracking and monitoring shipments, scheduling, coordinating transport, and providing visibility on the movement of goods. It makes it easier for companies to manage their shipments and ensure that their customers receive their orders promptly.

In recent years, the number of cargo management systems available on the market has grown exponentially, making it harder for companies to choose the best one for their needs.

Key Factors to Consider When Selecting a Cargo Management System

The cost of the system should be a significant consideration when selecting different cargo management systems. It is essential to ensure that the system is within budget and provides value for money. Additionally, one should consider the other features. Different plans offer different parts, so it is essential to determine which features are necessary for the business. It will help to ensure that the system meets the needs of the business. Scalability is also an important consideration factor. It is essential to choose a system that can scale with the company. As the business grows, so should the system, so choosing one that can grow with the business is crucial.

Security is a critical factor to consider when selecting cargo management systems. The system should be secure and provide appropriate levels of protection for sensitive data. The design should be easy to use and should not require extensive training. It will help ensure that employees can use the system efficiently and effectively. The system should also have adequate customer support so any issues that arise can get quickly and efficiently resolved.

Types of Cargo Management Systems

Cloud-based solutions are becoming increasingly popular as they are more cost-effective and provide greater scalability. These solutions get hosted on the cloud, so they can be accessed from any location, making them ideal for businesses with multiple locations or operating in various countries. On-premise solutions are installed on the company’s hardware and are typically more expensive than cloud-based solutions. They can provide greater control over data and security, but they require more maintenance and are less scalable than cloud-based solutions. Hybrid solutions combine both cloud and on-premise solutions and are becoming increasingly popular. They provide the benefits of both solutions and can get tailored to the needs of the business.

Conclusion

The selection of cargo management systems is a crucial decision for any business. When selecting a system, it is vital to consider the cost, features, scalability, security, ease of use, and support. Several cargo management systems are available, including cloud-based, on-premise, and hybrid solutions. Choosing the right system for the business will ensure that shipments get managed efficiently and that customers receive their orders promptly.

Business

The Benefits of Outsourcing Payroll Processing to Remote Quality Bookkeeping

Business by Marrio Phill on February 27, 2023

Outsourcing payroll processing to a remote quality bookkeeping firm can provide businesses with a number of advantages. Not only does it free up the time and resources of in-house staff, but it also improves payroll accuracy, offers cost savings and brings a wealth of expertise to the table.

Put Your Mind at Ease with Professional Payroll Processing

For small business owners, dealing with payroll can be an excruciating process. Mark Kilduff, a small business tax expert, even goes so far as to call it a necessary evil. However, it doesn’t have to be. With professional payroll processing from a remote quality bookkeeping service, you can put your mind at ease knowing that your payroll taxes are being handled correctly and efficiently. So, if you’re looking for a way to reduce the hassle and headaches associated with payroll, look no further than outsourcing it to the experts.

Automate Your Administrative Hassle with Remote Quality Bookkeeping

Business owners looking to streamline their administrative hassles should consider outsourcing their payroll processing to Remote Quality Bookkeeping, a small business tax expert recommended by Mark Kilduff. Outsourcing your payroll to Remote Quality Bookkeeping is a great way to reduce administrative headaches and free up time to focus on growing your business. With Remote Quality Bookkeeping, you’ll have access to a team of experienced and certified tax professionals who can help you with the tedious and detail-oriented task of payroll processing. They’ll ensure your payroll is accurate and compliant with all of the latest tax regulations.

Streamline Your Business with the Latest Technology in Payroll Solutions

Small business tax expert Mark Kilduff recommends streamlining your business with the latest technology in payroll solutions. He believes that outsourcing payroll processing to remote quality bookkeeping can be a great way to take the hassle out of managing payroll. With the right payroll software, businesses can save time and money by automating the tedious payroll calculations and filing of taxes. Additionally, they can be sure that they are always compliant with the latest federal, state, and local regulations.

Conclusion.

Outsourcing payroll processing to Remote Quality Bookkeeping can be a great way to save time, money, and hassle. With their advanced technology and experienced professionals, Remote Quality Bookkeeping can help you streamline your payroll process and keep you compliant with all applicable laws and regulations. Their services can help you focus on growing your business and providing excellent customer service while they handle the tedious work of payroll processing.

News

Why Is Short News Good For People Who Don’t Read Newspapers?

News by Marrio Phill on February 23, 2023

Nowadays, a lot fewer people still purchase newspapers. Please be aware that we are discussing newspapers from the user’s viewpoint; it has little to do with advertisements or business methods. Today, the internet is a true commodity. People digest tons of the latest short news online, which naturally influences how they anticipate newspapers’ huge acts. Every time we hold a large newspaper in our hands, it is shocking how inferior it is to reading news online.

Let us go through a few reasons why consuming online text news in short, is convenient.

It is challenging to locate the complete article if we see an intriguing news item on the first page. The references are done using page numbers, although they are local page numbers to a certain section of the document, for example – Entertainment on page 7. Additionally, the area on culture is piled inside the unit we are reading, so we must first locate it before we can locate the page numbers (which are lost on pages with ads) and, lastly, the piece we were looking for.It can be compared to visiting a text news The complete piece is displayed immediately when we click an intriguing article teaser. We frequently see related articles from related categories and can click on them to go there if the post is as fascinating as the teaser implied.

Even the papers published regularly are only handed out once a day. This implies that newspapers cannot compete on speed or be the first with a particular story. Even if you find a report at the right time, a newspaper must be printed and handed out to readers. Several hours are needed for this. Even worse, morning publications falsely claim to cover “today’s news” when covering yesterday’s events. Since there were no quicker means to acquire news before, this was fine.

After they are printed, newspaper articles cannot be updated or improved. Even though they must be corrected or important explanations must be made, they are left to the wind. There won’t be any conversation that was sparked. Of course, this is the best justification for online text and video news. It will have changed if you revisit a large item later that day. Comments and revisions can greatly enhance articles in response to feedback.

Large portions of daily newspapers are just duplicates of content from other sources or bad rewrites of those items. They’re likely trying to be thorough and present a comprehensive picture of what has occurred, which is a reasonable justification. The issue is that they are burying their original content under copious amounts of stuff that has been recycled.On the news apps, the same thing occurs, but instead of duplicating the article, you link to it. The news is then read directly from the source, and you can learn more. Other safeguards prevent individuals from replicating the work of others. As an illustration, Google has unique filters for removing duplicate content.

Fewer people subscribe to newspapers because they think they can get video news in short from a news app. Even though some people are not interested in sports, publications frequently prioritize them over interesting internet-related stories during major athletic events, which is different from the short news articles available on news apps.

Finance

Why Should You Consider Getting Your Teen A Debit Card?

Finance by Marrio Phill on February 11, 2023

A debit card or a prepaid card for teenagers is a great way for teens to learn about financial responsibility. They can use it to buy the things they want, but they must also learn how to budget and save money.

Nowadays, teens are more independent than ever before. They often have after-school jobs, and they need to be able to access their money easily. That’s where a debit card comes in handy. With a debit card, teens can easily withdraw cash or make purchases without carrying much cash. This can also be done with a prepaid card app easily.

There are numerous other benefits of having a debit card or a payment app for children as well. For example, it can help teens learn to manage their money better. A debit card is a great way for teens to get started on the road to financial independence.

What is a teen debit card?

A teen debit card is a card that is specifically designed for teenagers. It is a great way for parents to give their teenagers a taste of financial responsibility without putting them at risk of getting into debt. There are many different ways that parents can use teen debit cards, but the most common way is to load money onto the card and allow the teenager to use it as they would a regular debit card.

There are many benefits of using a teen debit card. One of the biggest benefits is that it can help parents teach their teenagers about financial responsibility. Teenagers with debit cards are responsible for keeping track of their spending and ensuring they only spend what they have. This can be a great way for parents to teach their children about budgeting and managing their money.

Another benefit of using a teen debit card is that it can help parents keep track of their spending from their bank for teenagers. Parents can limit how much money their teenager can spend each day, week, or month. This can help parents ensure their teenager is spending less money or getting into debt.

Overall, a teen debit card is a great tool for parents to give their children a taste of financial responsibility. It is also a great way for parents to keep track of their teenager’s spending.

Why Every Teen Needs Their Debit Card

A debit card is a card that gives the cardholder a set amount of funds against each purchase that they make. Debit cards are linked with bank accounts, and the funds are used to cover the purchase cost. A debit card can also be used to withdraw a certain amount of cash from ATMs, make purchases in stores and online, and pay for services such as gas and parking. The same service is also provided by upi for teenagers.

Giving your teen a debit card has many benefits. It helps them in learning how to manage their money, how to budget, and how to make responsible financial decisions. It also gives them a sense of independence and allows them to make purchases without asking you for money.

Consider a few things before giving your teen a debit card:

Make sure that they have a bank account in their name. This will allow you to track their spending and see where their money is going.
Consider setting up a monthly allowance so they have a set amount of money to spend each month.
Discuss with them what types of purchases are appropriate and what you expect from them regarding financial responsibility.

Giving your teen a debit card is a great way to teach them about financial responsibility. It allows them to learn how to budget and make wise financial decisions. It also gives them a sense of independence. If you want to help your teen learn about money management, consider giving them their debit card.

How long does it take for ETFs to settle in the UK?

More by Marrio Phill on January 18, 2023

ETFs, or Exchange Traded Funds, are a popular investment product in the United Kingdom. They offer investors access to a range of assets, such as stocks, bonds, and commodities, in one convenient basket. ETFs are bought and sold on exchanges like other securities, but their settlement process is slightly different. In the UK, ETFs typically settle within two business days after purchase.

How to settle an ETF

Select an investment provider

The first step when settling an ETF in the UK is choosing an investment provider. Investors should research providers carefully to ensure they choose one that meets their needs and offers good value. When making this decision, it is essential to consider fees, product range, customer service, and other factors.

Choose an ETF

Once an ETF provider has been selected, investors should research the ETFs available and decide which one to invest in. Factors such as the fund size, asset allocation, fees and expenses, track record and liquidity should all be considered when making this decision.

Place a trade order

When investors are ready to purchase shares of an ETF, they must place a trade order with their investment provider. Traders can do this either online or over the phone. Specifying how many shares you want to buy and at what price when placing your trade order is essential.

Make payment for the ETF

The next step is to make payment for the ETF investment. Typically, this will involve transferring funds from your bank account to the broker. It may take several days for the money to reach your account, so you must ensure that you have enough funds available when placing your order.

Clear and settle the trade

Once payment has been made, the trade will go through a clearing and settlement process. It involves verifying that the traded securities are valid and transferring them between brokers. In the UK, this typically takes two business days from purchase.

Update your portfolio

Once an ETF has settled, investors should update their portfolios to reflect their new holdings. Traders can do this manually or with portfolio management software such as Quicken or Moneydance. It is essential to keep track of all transactions and ensure that your portfolio is up to date.

Monitor performance

Investors should monitor the performance of their ETFs over time to ensure that they are meeting their objectives. Reviewing returns and fees will help investors determine whether the ETF suits their needs.

Rebalance when necessary

It is essential to periodically rebalance an ETF portfolio so that asset allocations remain aligned with investor goals. Traders can do this either manually or automatically by setting up a regular schedule of buy and sell orders.

What to consider before trading ETFs

Before trading ETFs, traders should consider several factors. It will help them determine the best investment strategy for their needs. Additionally, they should understand the risks involved in trading ETFs, including price volatility and counterparty risk.

Tax implications

Investors should be aware of the tax implications of trading ETFs in the UK. Different types of investments have different tax requirements, and it is essential to understand these before making any trades.

Fees and expenses

When investing in ETFs, investors should consider the purchase price and ongoing fees and expenses, such as management fees and other costs associated with holding an ETF. These can quickly add up over time, so it is vital to consider them when deciding whether an ETF is a good investment.

Risk profile

Investors should assess their risk tolerance before investing in ETFs. Some ETFs offer higher returns than others but may involve more risk. It is essential to consider how much risk you are comfortable taking and ensure that your ETF choice matches this.

Investment horizon

The investment horizon for ETFs is typically short to medium-term. It is essential to consider how long you plan on holding the ETF and factor this into your decision-making process.

Liquidity

ETFs are typically easy to buy and sell, but the liquidity of a particular ETF can vary. Traders should consider leverage when making an investment decision, as it may affect how quickly they can liquidate their position in the event of a market downturn.

News

Why Are News Apps A Better Alternative Over Newspapers?

News by Marrio Phill on December 3, 2022

Everybody can find almost everything online as the world is transitioning to a digital avenue. This digital revolution has gained pace, and the media industry is no stranger to it. Online news apps are increasingly replacing traditional newspapers. Online news apps have several features that make them preferable to conventional newspapers. Let’s look at the features that have contributed to the popularity of online news apps.

You get the news in different languages:

Unlike traditional newspapers, where the factual information is written in just one language, online news apps give you the convenience of choosing your preferred language. You can get live news in Hindi, English, or your regional language. Even if an in-app translation is unavailable, you can easily copy and paste the text into a third-party translator and get it translated for free.

You get live updates:

Traditional newspapers summarize the happenings of the entire day and deliver that in a printed form every morning. If something significant happens in the middle of the day, you will get the news the next day if you use a newspaper to access new bulletins. Online news apps address this challenge excellently by providing live updates of the local news you’re interested in. You’ll only need a stable internet connection and a phone to get the latest updates no matter where you are.

You can adjust your preferences:

You may have noticed different sections in the newspaper, such as sports, international, and entertainment news, to name a few. But nobody can deny that searching for the information you’re looking for line-by-line can be time-consuming and tiring. Online news apps eliminate this problem by letting the readers adjust their preferences. Additionally, intelligent algorithms automatically understand your preferences and recommend news that is relevant to you. Furthermore, you can quickly type the heading of the news article you’re searching for.

The content is more interactive:

Reading can be a tiresome task. Especially in newspapers, a reader is more likely to lose focus in the myriad of black-and-white words and letters. This problem doesn’t exist with news apps as they provide you with audio and video assistance. Such apps function similarly to news channels, but the content you see is personalized based on your preferences. Moreover, it’s scientifically proven that people retain more information from visuals than audio or textual media. Videos and images are powerful elements that online news apps utilize to keep the audience engaged and motivated to keep scrolling further.

Anybody can access it quickly:

The biggest drawback of print media is the lack of assistance to people with disabilities. On the other hand, online news portals are more inclusive of people with disabilities. For example, a person with blindness would likely need somebody else to read out the newspaper to them. But, if they use their voice to control their phones, a news app will probably be able to read the news aloud. It will help people with disabilities become self-reliant. Additionally, people with poor eyesight have the convenience of zooming in or increasing the text size, which is something they can’t do if they’re reading from a newspaper.

Finance

Tips when Borrowing Money

Finance by Marrio Phill on November 22, 2022

Loans and debts are inevitable, and people are borrowing money for several reasons. The good thing about borrowing money is that it will allow you to move forward when dealing in a situation that requires immediate financial resolution. But before borrowing any amount of money, one should always make considerations as well as weighing the consequences of having loans and debts.

If you want to borrow cash from an online lending solution, a bank or any financial institution, the best thing you should do first is to investigate the details and carefully study your options.

Carefully consider your reason as to why you are borrowing money. Borrowing money will surely add up to your existing debts and will obviously entail responsibilities. You might be borrowing money to financially cover an unexpected health emergency expense or unplanned house repair or even to add up on capital for new business, you should ask yourself this- am I borrowing money for right reason? Is it worth it?

Examine your financial capability. You might be encountering some financial hiccups nowadays when there is an ongoing global crisis, and it seems that your finances are not going in the direction that you planned, which makes you decide to look for money elsewhere. There is nothing wrong with borrowing money for as long as you are fully aware of the obligations that go with it. Check your financial standing and look ahead if you are capable enough of paying a new loan considering the repayment terms. Only borrow money that you can comfortably pay.

Choose the best type of loan. Loans come in several forms and have unique features, so it is better to consider which type of loan fits you perfectly. A secured loan would mean having to put in your valuable possession such as vehicle or your home as collateral, which is the usual case when borrowing money in traditional financial institutions. Whereas an unsecured loan would not require a collateral hence the interest rate for this will tend to be higher. Again, weigh your options and go for the one that would be easier for you.

Create a repayment strategy plan. It is not enough that you already decided which type of loan to take considering the repayment terms, you should also have a foresight on how you will quickly repay this new loan in full. Create a strategy plan on how you can find efficient sources to fund your payment for this loan. Try to aim in paying your loan in the quickest way possible to get this burden off your shoulders. The soonest is the better.

Borrowing money is not always a bad idea, contrary to what other people believe. If you know how to manage your debts carefully, then they can help you make your life better in the future. When borrowing money, make sure to borrow only the amount that you are sure you can pay off before its due date or before it matures. Always be a responsible borrower by making payments on or before the deadline so you avoid paying fees or added interest.

Business

5 Ways to Maximize Your Gold Savings!

Business by Marrio Phill on November 21, 2022

Are you looking for ways to maximize your gold Saving Schemes? Then you’ve come to the right place! In this blog post, we’ll share 5 tips on how to save gold and make the most out of your investment.

Gold is a valuable commodity that has been used as a form of currency, jewelry, and investment for centuries. The price of gold is constantly fluctuating, which means there’s always an opportunity to buy or sell when the time is right. But how do you know when to buy or sell? And what’s the best way to store gold? Keep reading to find out!

Save gold by knowing when to buy and sell.

Gold prices can fluctuate greatly, so it’s important to stay up to date on the latest changes. There are a few ways to do this:

-Read news articles about the gold market. This will give you an idea of general trends as well as any major changes that could impact the Gold rate.

-Check online resources such as the Kitco Gold Index or the World Gold Council website. These sites provide up-to-date information on gold prices around the world.

-Talk to a financial advisor who specializes in precious metals investing. They can offer guidance on when to buy and sell gold based on current market conditions.

Have a solid plan for buying and selling gold.

Once you have an idea of when to buy gold, you need to develop a plan for actually making your purchases. This should include:

-Setting a budget: Determine how much money you’re willing to invest in gold, and stick to it.

-Choosing a form of gold: You can buy gold bullion (bars or coins), ETFs, or mutual funds that invest in gold companies. Each has its own set of pros and cons, so do your research before making a purchase.

-Selecting a dealer: When you’re ready to buy, choose a reputable dealer who offers competitive prices and good customer service.

Selling gold is similar to buying – you’ll need to monitor the market for the best prices and have a solid plan for how and when you’ll sell your holdings. Remember that you may not get back what you paid originally if you sell too soon after making a purchase, so it’s important to factor this into your plans as well.

Business

Why Floor Cleaning is Crucial for Commercial Businesses

Business by Marrio Phill on September 5, 2022

Taking care of and maintaining a commercial property is part of managing it. Floors, in particular, should be given a lot of care, especially in places where a lot of people walk. You might think that all your floors need a good sweep and a mop, but that’s not the case.

Here are some reasons why cleaning floors in a business is a good idea.

Create a Good, Lasting First Impression

How your floors look can greatly affect how people see your business. If the floors are dirty, it can be a bad sign. It can make people think that the property is not well taken care of and that they shouldn’t return. On the other hand, clean floors show customers that the building is well-kept. It can add to the property’s appeal and, as a result, bring in more customers.

Maintain a Safe and Productive Environment

Customers tend to bring in all types of garbage, including liquids, food, and germs. Floors may get damp, slick, or even sticky, especially if they are not kept clean. Your commercial floors will eventually have holes and gaps, and wood floors may even splinter. Each of them poses a risk to worker and patron safety. It is possible to guarantee that all surfaces stay dry and immaculate by using a commercial floor cleaner.

Employees are more productive when they work in a clean and comfortable place. Dirty floors say a lot about a business and its owner. If the owner doesn’t care about how the assets look, then there’s no reason for the employees to care either. If their place of work isn’t clean or well-kept, they won’t feel comfortable enough to do their jobs. They might also get sick more often because of how dirty their environment is. This would mean more sick days and less work.

Improve the Work environment

A floor that is not kept tidy is unpleasant to look at and potentially hazardous to one’s health. The filth and other contaminants do not just remain where they are dropped. They can be propelled into the air by the wind, foot traffic, or even your own HVAC system, where they can be inhaled by anyone in the building, including customers and employees.

In addition to the risks to one’s health, working in a workplace with unclean flooring may be quite unpleasant. After all, nobody wants to spend their time at work staring at untidy floors and trying to find their way amid the clutter.