Chelsea Krause is a writer who specializes in accounting, payroll, and small business loans. She has been with Merchant Maverick helping small business owners manage their finances since 2016. She is a QuickBooks Certified User and former eCommerce store owner. Her accounting expertise has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business. Chelsea graduated summa cum laude with a BA in English & Creative Writing from George Fox University and studied abroad at the University of Oxford as well. She currently resides in Boise, Idaho.
Looking for an accounting definition? We cover all of the basics in our quick guide to accounting terms, so you can quickly understand important accounting terms and get back to running your business.
Credit bureaus arose to help lenders quickly gauge the reliability of a potential borrower. In the past, you could go to the good ol' general store and the owner would know you, your character, and whether or not putting your items on "charge" (or on credit) was a good idea. That method may have worked in the past, when communities were small and isolated, but there had to be a better way moving forward. Thus credit bureaus were born.
Learn what invoice financing is, whether it’s right for your business, and how to find a great financing company to work with in our complete guide.
Lenders like to know exactly how you plan on using the money they may potentially lend to you. If you've made successful investments in the past, like purchasing additional equipment that increased your sales revenue by 25%, and are planning on purchasing more equipment with the loan your applying for, be sure to tell your lender! It will demonstrate that you're experienced in business and that you're likely to increase your cash flow (which a lender hears as "we're getting our money back").
There is a wide array of banks and financial services companies eager to take you on as a customer. But how can you tell which offers are legitimate, let alone find the best bank for small businesses? We’ll walk you through the fees you can expect to pay, what kind of customer support you can expect, and more, so you can compare the best business bank accounts available and choose the one that will work best for you.
Bank of America is a tried and true option for business banking services. It combines the best of brick-and-mortar with the online banking services users today demand. The bank does well in meeting the needs of both its online clientele, with a strong and functional app, and the customers who walk through the physical doors.
Novo’s financial services have some attractive features designed to appeal to its target audience: small business owners who are comfortable operating in a fully digital environment. If that sounds like you, keep reading this Novo review.
With both contenders offering minimal fees and nearly identical flat-rate pricing, most businesses won’t see a significant overall price difference between them. Whether Square or QuickBooks will be the better choice will mainly come down to which of the two companies offers the better features your business needs to grow and thrive.
One of the main reasons ADP payroll has been able to stay so popular is its highly intuitive interface. Even with loads of features, ADP is one of the easier-to-use systems around.
It’s time to open a business bank account. Are you ready? What do you need to make that happen, and what’s the best way to apply for business banking services? Does your small business even qualify for business banking? Relax. We’ve got you covered! This post will let you know if it’s time to start using a business bank account for your small business or side venture.
Opening a business bank account can save you time and reduce your personal legal liability as a small business owner. These step-by-step guidelines will show you how to open a business bank account.
While corporate cards are a big business these days, they remain a relative oddity in the greater credit card scene. Not as ubiquitous as personal or small business credit cards, corporate cards aren’t exactly easy to understand. For one, getting a corporate card isn’t as easy as filling out an online application. And properly managing a corporate card program isn’t something you can just set up and forget.
Switching to a business bank account can help you build a professional reputation and establish credibility, limit your personal liability if your business plans don’t work out the way you want them to, and make it easier to manage your business finances and file your taxes. Let’s dig in further to see what other benefits there are to having a business account, and whether there are any drawbacks.
It’s pretty common for entrepreneurs to use a personal bank account to manage a new business. But as you grow, is it still a good idea to use that personal account? And how do you know when it’s better to open up a business checking account? Read on for a detailed explanation of when it’s okay to use a personal bank account and why you should eventually upgrade to a business checking account.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
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