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Monthly Archives: January 2017

Opting For Internet Banking

  1. You can make a transaction from anywhere – you need not actually go to a bank counter – you have access from home, work or even when you are on a holiday
  2. You can make a transaction at any time – you need not abide by the working hours of the bank. You need not even worry about Sundays or other holidays – your account is accessible 24×7.
  3. You can use any device with internet access for your bank activities – phones, laptops, desktops, tablets – anything.
  4. Banks offer a wide range of services – payment of bills, transfer of money, checking account transactions via the internet.
  5. All the transactions are automatically updated immediately;therefore you always have access to your information without submitting any slips or documents. Thus your account is always up-to-date without any discrepancies since the process is completely automated

The best part about internet banking is that you can keep track of all your different accounts simultaneously. In case you have multiple accounts, you need not go to different branches of your bank. This saves a lot of time.

An online bank account is very easy to create. All you need to do is request your bank to create an online account for you. These days when you open a new account, your login details are sent along with the welcome kit itself. Application for loan, new accounts, trading accounts or requests for new cheque books can also be done online.

Bill payment is one of star features of internet banking. Every bill, be it groceries, mobile phone, electricity, shopping – can be paid instantaneously using online banking. You need never step out of the house to different stores to pay each bill. This also cuts down the time you spend standing in queues for bill payment. One important advantage is that you can pay your credit card bill online, be it weekend or holiday time – this ensures that you never incur the heavy penalties of not paying the bill on time.

You can transfer money online directly to another account – your own or anyone else’s. This is a major advantage as you can divert money quickly to wherever you want it for e.g. to your child’s or parent’s account in case of need. Also, many people have funds getting credited from their account to various funds and policies. Money can be transferred to these accounts immediately, so that there is no default of payment for your insurance covers.

Basic Features of Credit Card

Under the category of the credit card, there are several other types. These credit cards are further designed with special functions and for specific purposes. A standard card will offer you the simple function of borrowing funds at a fixed interest rate and fixed repayment tenure. Alternatively, speciality cards such as the balance transfer credit cards come equipped with introductory interest rates on balance transfers. Reward cards allow the applicant to collect reward points on any purchase they make. There are also such as the retail and premium ones that are used only for specific functions and purchases.

Credit Limit

Each one is equipped with a credit limit. This credit limit is the maximum amount a owner can charge to the card. This would include features such as making purchasing, balance transfers, cash advances, finance charges and fees amongst many others. If you ever charge any amount on over the credit limit, you will be charged extra fees.

Balance

The balance on your card indicates how much of purchases or expenditures have been charged to you. It would also include the additional fees. A high credit card balance would result in lower credit. Thus, any additional purchases will not be allowed unless you have a charge card or no – limit credit card. A high balance allows you to use more credit, while reducing your credit score.

APR

The annual percentage rate also known as APR is the interest rate that is applied to the balance when it is carried beyond the grace period. Different types of balance would have different APR’s. Normally, cards such as balance transfers and cash advanced cards would possess high APR’s. Your APR’s change depending on how late you pay off the dues on the card to the bank.

Grace Period

Each one has a fixed tenure, wherein the card owner must repay the borrowed funds within that given time period. This period, also known as the grace period, is often interest free. Once this period is passed, and you have not paid your dues, interest will charged on the unpaid amount. If you carry the balance from the previous month, you may not have the grace period for any new purchases.

Incentives and Rewards

Some banks offer rewards and incentives for using their credit card. These rewards come in several different forms such as cash back, points to redeem, and discounts. A card owner can use these cards to collect these incentives and rewards for better services.

Quick Easy Loans

Banks or cash lenders?

The reason why so many people don’t have savings a more is that they have been forced to deal with pressure from their banks or major financial institution. The banks have been particularly guilty of increasing debt demands and reducing their flexibility when it comes to repayments and refinancing loans because they have been so demanding, trust has slipped away, so that now the majority of people no longer feel that they can trust their bank with small loans. In addition, the banks are also increasingly demanding when it comes to the terms of loan agreements and borrowing. Is very rare these days to find a bank willing to lend you hundred dollars for an emergency, and even if you do, that loan can take a considerable amount of time to be agreed. If you don’t have the time to wait, then taking out quick cash loans can seem like a viable solution.

Borrowing from cash lenders

The best thing about quick online loans is that they are easy to access. You can apply for a loan as soon as you need it by filling in the form on the lender’s website. This means you can apply straightaway, with no delay, and your application will be assessed that day. Rather than having to wait for long periods while the bank decides whether it will lend you the money you seek, you can get an application form processed that same day, and have the money in your account within 24 hours. That is much faster and better than taking out a bank loan where you have to wait for ages before the bank decides whether it will let you have the loan.

Manage Accounts Efficiently

It also helps to keep track of the company’s money, show how the company is performing on the daily, weekly or monthly basis and make it easier to prepare the company’s income tax return. There are many general accounting systems that all small businesses are using to earn more profit, revenue, sales and keeps the money related transaction on time. Many companies in Ipswich provides Accounting Services to take care of your books, accounts, and records.

The accounts receivable and payable must be checked to know how much cash is going in and out of the business. Accounts receivables are the amount of money that a consumer owes a company for the service or product taken on credit. Accounts receivables are the sales and profit earned by the company that is not yet paid in cash from the customer. The Accountant must trace the accounts receivable and payable. Steady growth and maximal earnings are important factors in maintaining accounts.

While accounts receivables are considered as currents assets, it remains difficult to consider a product or a service as sold or purchased unless it has been paid in cash. If there are regular sales of products or services to many customers it is necessary to maintain the efficient accounts receivable system, the cash flow in your company will be negatively affected. Check the profit or revenue earned by the business at the year end to give trust to the investors, bankers and creditors that business is performing well and investment are safe. If necessary, ask for feedback from other companies they have previously done business with.

Some businesses already have a long list of unpaid credit, which is a good indicator that the business is having required cash, resources, and good finance. It is best not to forge long-term arrangements with them until they’ve completely sorted their finances out. Many companies offer Tax Returns Services in Ipswich for preparing tax documents and return your payable tax from the government. The accounting system is important to maintain correct accounts required to check the daily cash sheet and ledgers for accounts receivables and accounts payables among others.

Reducing the time and effort spent on simple tasks such as managing accounts, which can be time consuming can be gained by using accounting system to maintain good records and accounts with competencies and opportunities to grow the business.