Invoices, tasks, more invoices, tasks, estimate requests, still more invoices. All this paperwork can surely clutter a desk quickly, and the lack of organization makes it hard to prioritize tasks. There has to be a better way.

There is. There are online invoicing solutions and cloud accounting apps that claim to help us manage all our business finances in one place. Perfect for the small business environment, yet they claim to understand the problems that many small business owners, freelancers and entrepreneurs face, and claim to strive to make the best user experiences possible.

What’s great about such online accounting solutions is that they are so simple and easy to use, that you don’t need to be a computer genius to reap the benefits. They usually can be accessed anywhere there is an Internet connection, and other than having a web browser, there are no additional technical specs needed. Some are even available on mobile devices, which is perfect for the traveling entrepreneur. Usually everything in your accounts is searchable, using lightning fast search tools, giving you instant access to all of your data whenever you need it.

In some of the online invoicing solutions account holders can add team members as necessary to handle different areas like tasks and invoices. Sections are controllable with user permissions set by the account holder, and each user will have access to only the areas necessary. Usually the financial information is kept safe and secure. A secure website’s URL should begin with “https” rather than “http”. The “s” at the end of “http” stands for secure and is using an SSL (Secure Sockets Layer) connection. Your information will be encrypted before being sent to a server. Another sign to look for is the “Lock” icon that is displayed somewhere in the window of your web browser. Different browsers may position the lock in different places.

The user-friendly dashboards offer all of your important information right in a centralized location. You and your team can see all your active tasks, keep track of your invoices and expenses, and your recent activity is readily available. The simple menu bars list useful sections, and with one click you’re on your way to even more functionality. Every invoice and estimate has section that can be edited and suited to fit each task, or you can opt to copy a previous invoice. With such online invoicing solutions you can track all business expenses, and conveniently invoice clients for those expenses right away.

A great business has repeat clientele. With really good online accounting solutions, all of your regular customers are manageable from the client screen, where you can provide estimates, set up recurring invoices, and create new tasks. Email notifications usually can be set or modified using simple email templates for new or late invoices and estimates. The ability to import your client list from QuickBooks or any other existing software or even an address book, eliminates the need to enter client data individually. Also some online invoicing solutions lets you change the name “Task” to suit your business: “case” for lawyers, “event” for caterer, etc. Usually very select solutions can be personalized to fit your business style, add your logo to your invoices, estimates and your team and client screens.

Another great feature to look for is to having instant access to all your cloud accounting reports. Profit and Loss statements, Expense Reports, and Payments Collected reports should be easily available to make your business operations smoother. Similar to the Task naming feature, in select online invoicing solutions, you can customize the “reports” name to better suit your business’s needs.

The online payment collection option makes sure you get paid even faster than usual, as clients can conveniently pay invoices online. Many such online solutions let you also enter manual payments, and keep track of all your financials without the need of a third party accountant.

All this sounds expensive, but that’s the best part online services. Some can be pretty expensive and complex to use but some are completely cost-effective for your business, and by saving your team time and money, the return on investment is enormous. There are even free plans that you can sign up in just seconds without a credit card.

These online invoicing solutions also offer free trials, and after that period you can choose the desired plan to continue service. Also, in some online invoicing solutions, account holders have the possibility of making money with the integrated “Refer” feature.

It may not be so much confidence as it is empathy. Online invoicing solution providers understand small businesses, and that’s why they’re here to help!

Are you looking for a new car? Chances are that you’ll be financing that new vehicle. The rising cost of new vehicles has made it increasingly difficult for consumers to purchase a car outright. Financing is a valuable tool that allows you to drive the car that you need and pay for it over time. However, not all lenders are created equal. Likewise, not all consumers are given the same interest rate on their auto loan. Being an informed consumer puts the power in your hands. By knowing the game being played, you can control that game. Here are a few tips to help you maximize your buying experience and get the best loan possible.

o Know Thy Self – When you apply for a loan, the first thing that prospective lender does is pull a copy of your credit report. This report (and the associated credit score) determines the loan that you will get, or even if you will get a loan. Knowing what the lender will see will take the surprise out of the process. You are entitled to a free copy of your credit report each year. Use this tool to your advantage. If your report is less than stellar, take steps on your own, such as paying off debts, remaining current on payments and negotiating payment arrangements with delinquent accounts.

o What’s Your Score – While your credit report is an incredibly valuable tool, you’ll also need your credit score. This is not included in the credit report, which comes as a surprise to many consumers. Be warned; you will have to pay for you credit score from each of the credit bureaus.

o Know Thy Friends – Know the lenders with whom you are applying. Applying for an auto loan blindly is an easy way to be taken for a ride. Apply with prime lenders first, as you will get the best deals through them. Only if you have exhausted the pool of prime lenders, should you consider using a subprime lender. In addition, there are other tools at your disposal. If you are a member of a credit union, apply through them. If you have been a long-standing member of a local bank, consult the loan officer. Never limit your options to auto lenders.

o Know Thy Enemy – In this case, the enemy is the dealership. While they provide the automobile that you need, they mask the true cost of the vehicle behind a screen of dollar signs. By getting the consumer to focus solely on the monthly payments, they hide the true cost of the vehicle. Financing through a dealership may be a viable option, but it is often a poor decision. Dealer-financed loans are frequently some of the most expensive in the industry. Find out what fees (in addition to tax, tag and title) are listed in the contract, as well as the interest rate charged by the F&I office. By knowing their tactics, you can avoid being hit with sticker shock when you sign your loan papers.

In today’s society, outsourcing is a common business practice. Many businesses have begun outsourcing, even accounting firms. In this paper, reasons why accounting firms would want to outsource will be discussed. Then, it will talk about how the Sarbanes-Oxley Act of 2002 (SOX) impacts the issue of outsourcing. Finally, a quick look at a Big Four accounting firm who has taken the opportunity to outsource.

When talking about the issue of accounting firms outsourcing, first we must look at reasons why an accounting firm would want to outsource in the first place. According to CPA Trendlines, there are seven main reasons why an accounting firm would want to outsource. The first reason is because the accounting profession is aging. This means that many of those who are currently employed in the accounting field are getting older and are planning to retire. This then brings in the demand of a fresh, new set of people to take over these positions. The second reason is to outsource the less profitable work. When firms do this, they are able to spend more time and resources are those services that clients notice more, such as consulting work. The third reason why accounting firms outsource is because it makes ‘just in time’ hiring easier. What this means is that many (if not all) accounting firms hire extra people during tax season. Also, many of the full time staff get overworked and this could lead to a higher turnover. With outsourcing, accounting firms leave the ‘just in time’ hiring to those outsourcing firms. This is much easier on the accounting firms because instead of taking the time of hiring many new staff members, they only have to hire one outsourcing firm. The fourth reason why outsourcing is becoming popular with accounting firms is because of the need of everything being digital, it forces standardization. These means firms examine processes more closely, and they are able to make sure everything is exact with the standards. This is considered a hidden benefit. The third reason is because their growth is virtual and not physical, firms are able to take on more clients and not have to expand their physical space, such as new facilities, computers, and staff. The second reason why outsourcing is popular with accounting firms is because the turn around time is faster. In places that work is outsourced, like India, can be 10 hours ahead of time here in the United States. This means that work that is sent out at the end of the work day can be returned by the start of the next work day. Lastly, outsourcing is cheaper than doing the same work here at home. Work that could cost between $20 – $25 U.S. dollars an hour here in the United States would only cost between $10 – $12 U.S. dollars if outsourced. Also firms can avoid things such as, payroll taxes, sick pay, vacation time, benefits, and space and equipment costs. It is common knowledge that in the accounting profession, there are many rules and regulations. How is it possible that outsourcing can occur and stay with the standards that are already set up? Next, we focus on Sarbanes-Oxley Act of 2002 and how it impacts the outsourcing of accounting.

The Sarbanes – Oxley Act of 2002 (or SOX) is U.S. federal law that set new or enhanced accounting rules and standards for public accounting firms and other types of businesses. The impact of SOX and outsourcing are discussed in Paul Cervantes article “Sarbanes-Oxley and the Outsourcing of Accounting”. The implementation of SOX first made firms hesitate on what they would outsource and what they would keep. Because SOX made company profits go down and capital increase, outsourcing accounting related functions are a good way companies could reduce costs. Accounting firms are examples of firms that look to outsource. Deloitte is an example of an accounting firm that has begun outsourcing. Deloitte partnered with Mastek to encourage companies to outsource business practices, particularly to India. Outsourcing allows Deloitte to work with finance professionals with an established safe service, and also it also decreases work turnaround by 40%. Even though outsourcing seems like an easy solution to the implication of SOX there are some obstacles, particularly in Sections 302 and 404. Section 302 states that company and managing executives are responsible for material weakness in internal controls of the company. Section 302 also states that these executives must report fraud to shareholders. Section 404 requires that management assess the internal controls of the company in every quarterly or yearly report. These sections make if difficult for companies to outsource accounting related services because even though these services are outsourced, they are considered to be an extended portion of the company. That means that the company would to ultimately liable, not the service provider. Even with the implementation of SOX, this does not stop accounting firms outsourcing other services.

KPMG is one of the four biggest four accounting firms in the world, and they have started to use outsourcing. According to Sarah Johnson’s article, “What KPMG’s Lastest Purchase Means” KPMG had purchased EquaTerra. EquaTerra is an outsourcing advisory firm. EquaTerra job is to help corporate customers with an outsourcing strategy. This means that they help them connect with customers and complete the agreements. The advisory firm will own the terms and conditions and the intellectual property. Now, KPMG will be able to close outsourcing deals and agreements, without and outside advisor. Overall, this merge will provide clients with a full life cycle of capabilities.

As we can see, outsourcing is a business practice of the future. Not only does it cut costs, but it also increases productivity. Even with the implementation of SOX, companies and firms are still taking advantage of outsourcing opportunities. What we have to look forward to in the future is how much firms and companies are willing to outsource and what kind of new legal obligations might be enforced on them. This will continue to be a very current issue in the future.