Essentials that go into your balance sheet

September 26, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Mantain balance sheet, balance sheetA balance sheet is a very important thing that you should take care of properly. Any discrepancy or problem in the balance sheet is expected to give you a lot of problems during audit of your business finance. The income you incur is a very important thing and each of the sources of the income and the all the income, doesn’t matter however small it is, should be properly mentioned.

The same is the thing with the expenditure. All the minute expenses should be noted down carefully in the balance sheet. Any miss out of the expenses from the balance sheet will give you problem during audit. Take care of these things properly. Maintaining a proper balance sheet is essential if you want to steer clear of all the unwanted legal and financial contingencies. Any haphazard noted down of the facts may cause a lot of problem at the end of the finance year.

Preparing a profit and loss account

September 21, 2012  //  Posted by: cooldude  //  Category: Personal Finance

 profit and loss account, financial tipsOne of the most important items in the profit and loss account is the salaries. If there is any payment of salary to the partners or the proprietors it has to be separately shown because it requires special treatment when you are assessing income tax. When the accounts of wages are included, it has to be treated as indirect expense.

It is taken in the account of profit and loss. The accounts of rents go to the indirect expenses as well. Therefore, these accounts are debited in the accounts of profit and loss. The taxes and the rates are levied by the authorities for emitting public expenditure. It also goes in the indirect expenses and so is put in the debit side. The loan interests, the overdrafts are all payable by the organization. It will be an indirect expense as well. The commissions are made to appoint for affecting the sales. This goes in the debt side considerer as a silly expense.

How to start your own web development company

September 16, 2012  //  Posted by: cooldude  //  Category: Business Tips

web development company, business tipsIt could be a tough job when you are trying to start a company of web design. One of the basic problems in starting up a company of web designing is the funding. Not everyone can afford to fund their own capital and for that it is important that you go for the various loans that are available for stating a company. The second important thing is a good location for the company. You can go for a completely virtual profile or you could go for an office. Some companies even work from home. Therefore, you have to decide your location that would suit your needs.

Another thing that you need to consider is the workers. It is only obvious that with hired helping hands, you will be able to handle more assignments but it is also obvious that you have to incur expenses. Therefore, you have to plan your finances well before you consider hiring help.

Legal considerations for an online business

September 11, 2012  //  Posted by: cooldude  //  Category: Business Tips

Online business, business tipsWhen you open an online business, it’s not just enough to have a web hosting agency to back you up. Opening an online space for business is a big step and there are some legal matters which you should be aware of as well in order to successfully run the business on a long term basis. The first thing to make sure of is your domain name. Make sure that you are not getting involved with any trademark issues of other companies. Renew your domain name yearly for a smooth business.

Make rules, regulations policies and several notices in order to make your customers aware of the legal terms and conditions of your company. Have a copyright notice as well. Another very important legal factor in the world of online business is the link building. When you link your website in other sites and vice versa make sure you’re not violating any state or cyber rules. If you are caught doing so you may even lose your license.

Online business security essentials

September 06, 2012  //  Posted by: cooldude  //  Category: Business Tips

Online business security, business tipsToday, no big business can function comfortably if they don’t have an online forum for their business. If you have an online business then one of the mot important factors is the security of your website. These days there is a lot of threat regarding online hackers and virus attacks. So you need to protect your website as well as you can. You need to load a very good antivirus system to protect your PC first. Your offline data and files are as vulnerable as your online data.

After that you need to install special security measures for your website. These facilities are also given by several web hosting companies and you won’t even have to purchase these separately. Whichever program you apply for the website security, just make sure they cover the basics. You should be warned continuously before you open harmful links and websites, your sensitive online information should be password protected and malware should be eliminated before you work on the system.