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Accounting is considered one of the most frustrating aspects of small businesses, forcing millions of business owners into heartburn-filled sleepless nights as reported by Cheyney Group Accounting Software Blog. Simply because they know they must be knowledgeable and in control of their cash flow, margins, sales figures and inventory levels.

Recently, a mobile application called ONE UP claims to lessen the amount of time used to manage accounts to just a couple of minutes each month. It is the result of 4 years of development and recommendations from customers.

It automatically synchronizes with banks and provides suggested entries that can be authenticated with one click. It is considered as "hands-free" accounting that can automatically update your inventory, handle your Customer Relationship Management (CRM) and invoicing modules.

CEO of ONE UP, Francois Nadal said that it's as if you had a Certified Public Accountant (CPA) on your shoulder. It is an effective app for small business, and with the accounting solution they literally provide hands-free bookkeeping. Simply just after 3 months most of your data entry is eliminated as the app learns about your business.

The app is designed to perform routine tasks automatically for small businesses ranging from a sole proprietor up to those with twenty employees. It is also developed for active business owners that are on the go, so they can manage their business from anywhere using their mobile phones.

The application includes several convenient features such as the ONE UP Inventory, which will synchronize with the Point of Sale (POS) so the inventory information is updated automatically and re-ordering can be done with a single click. It can generate packing lists or delivery notes from sales orders and even updates the status of orders.

ONE UP Accounting allows your accountant to log in from another location to audit your books or export your financial records to their location.

ONE UP's CRM will track your chats, calls and task to help you organize your time so you can increase your opportunities with new customers or repeat sales.

Using the application is quick and simple, you just need to setup your bank account information, categorize your bank entries (expense, sale, and transfer), experience easy bank reconciliation, look at Cash Flow and Profit Reports and close out the year in a shot.

When an order comes in, the app's invoicing will begin the process and you can even customize your invoices.  It will automatically email your customer when their invoice is ready and you're able to keep track of your invoices with notifications sent out to your customers just before their payments are due. Sales are posted automatically with no hassle on your part.

The cost for ONE UP application starts up to $9 each month for a single user, but you can sign up for a 30-day trial at their website. ONE UP has clients in over 50 countries, and its software is used by 300,000 small business users. The app is based on the highly successful business suite myERP.com, and is recognized as a major partner with Google Apps and Square, Inc.

What everyone thought was just another April Fool's prank turned out to be a clever market testing strategy.

Gaming retailer Hyperkin has unveiled a hardware emulator that can turn an iPhone into a Game Boy on April 1 with the following announcement on its Facebook page: "Meet the Smart Boy, an upcoming Game Boy-compatible device for the iPhone 6 Plus. This notion art shows that it will attach to the mobile phone, turning it into a handheld gaming device compatible with Game Boy and its Color cartridges."

Basically, the concept art looks like the control half of a Game Boy clipped to an iPhone. It has all the buttons on the classic handheld gaming device but this time, it will get power from the smartphone which is capable of providing about 5 hours straight of gameplay, as reported by Cheyney Group Marketing.

And after seeing a tide of positive response from consumers, Hyperkin came out with the punch line: "A lot of you were speculating that the Smart Boy is an April Fools' joke. Well, it sort of was ... Looks like you awesome folks ACTUALLY WANT IT, so the Smart Boy is now in development!"

The company admitted that they "leaked it with the initial intent of testing the market ... under the guise of an April Fools' Joke." What makes it ingenious is its use of April 1 as a setting where they can safely test the market's response to a quirky product -- if it receives jeers, they can just shrug it off with a "Happy April Fools!", but if it receives positive interest, it will endear itself to users with a "We'll make it for you then."

However, not everyone is thrilled with the surprise announcement, especially taking into consideration the potential infringement on Nintendo's intellectual property rights.

Some users also commented that Hyperkin has previously been accused of software license violations when it has taken code from RetroArch, an open-source gaming project. Cheyney Group Marketing confirmed that RetroArch is under non-commercial license so if Hyperkin did use the open-source code for commercial purposes, it's likely that there's been a violation.

Web registrar GoDaddy has announced plans to make an Initial Public Offering (IPO) that will raise them USD 418 million and increase their market capitalization to almost USD 3 billion.

GoDaddy has filed for an IPO last year with the "GDDY" ticker symbol but it has yet to set an exact date for the IPO. The internet company based in Arizona which offers webhosting and domain registration has updated its filing last week with the Securities and Exchange Commission, according to Cheyney Group Marketing.

Around 61 million Class A and 90.4 million Class B stocks are expected to remain with the company after its public offering. Each share will range from USD 17 to USD 19, and with about 22 million stocks planned to be offered, the company has the potential to gain USD 2.88 billion in market capitalization.

This is not the first time the internet company has planned to go public though -- it was first rumored to have an IPO 6 years ago but it did not go through. Then in 2011, Technology Crossover Ventures, Silver Lake Partners and Kohlberg Kravis Roberts & Company acquired the firm which was valued at that time at USD 2.25 billion.

Should it successfully go through with listing on the NY Stock Exchange, it's reported to be valued now at almost USD 3 billion. However, since an IPO opens up a company's financial condition, it was revealed that GoDaddy lost USD 143 million out of its USD 1.4 billion revenue in 2014.

Experts from Cheyney Group Marketing are in agreement that 2015 is still a good year for internet firms to go public, and with the brand recognition that GoDaddy already has, it could prove to be popular with investors.

Since it was founded as Jomax Technologies in 1997, it has served around 12.7 million clients. It currently manages almost 60 million domains, making it the largest web registrar in the world.
Dear QuickBooks,

I am breaking up with you.
It isn’t you.
It’s me…
I have grown.
I am not the same small business I was when we met.
I have different needs, expectations and ambitions.
I appreciate everything you did to organize my payroll.
I thank you for every balance sheet.
You made me a better small business.
It’s just…
I am not a small business anymore.
I know there is a new small business out there waiting for you!
I will never forget you…

Fast Growing Business

Breaking up with QuickBooks…

Realizing your business has grown beyond the functionality and capabilities of QuickBooks is bittersweet. You realize you need a better way to create consolidated financial reports and the flexibility to format reports to meet your requirements. You admit your invoicing is too simplistic and needs to be upgraded to accurately reflect your services. You are running most of your reports in Excel, not QuickBooks, and you are spending too much time on manual entry of data into multiple systems.

You’re a growing company and want to keep it that way, but your auditors are consistently complaining – begging you to keep tighter internal controls and do a better job at tracking expenses. You are seeing the increasing need for real-time visibility into your financials. Plus, your Customer Relationship Management (CRM) system can’t communicate with QuickBooks, resulting in yet more manual inputting – and a less comprehensive overview of corporate activities.

You can deny it no longer.

The time has come…breaking up with QuickBooks is inevitable.

Good news, it doesn’t have to be painful!

Graduating from QuickBooks to cloud financials and accounting can be done by transitioning to a Software-as-a-Service (SaaS) solution designed with financial management functionality. The move to life with cloud-powered SaaS alternatives can boost productivity by giving 24/7 access to financial documents, reports and milestones.

You will find you will improve cash flow by automatically capturing billable time and expense – plus accelerate billing. You will decrease errors and boost operational productivity by integrating project activities with project accounting.

A departure from life with QuickBooks, cloud accounting solutions allow you to access your true cash flow any time of the day or night – 24/7. You can take better control of your accounting by reviewing your real-time finances. This means you can manage your finances on the go and never miss the opportunity to correct an issue, send an invoice or monitor accounts payable.

Best yet, you can easily collaborate with colleagues and accounting professionals in real-time on financial reports. Many cloud accounting software solutions integrate with other business apps too, allowing you to use a variety of tools to run your business better. The access to real-time data afforded by cloud accounting software gives you total financial management and tracking power over your cash flow – with up-to-date views of daily financials at your fingertips. With time-consuming, manual tasks removed from the equation, you and your team can be more productive and focused on the most important task at hand – managing and growing a great business.

So, if the time has come for you to break up with QuickBooks, do not worry. Moving on with a robust, cloud accounting solution will help take your business to the next level. You are going to love having real-time views of your financials and the perks of cloud collaboration as you share documents and review reports 24/7 with colleagues and accounting professionals. QuickBooks served its purpose for your growing business. Now, it’s time to power your financial reporting with technology solutions and cloud-based accounting alternatives that can graduate your business to higher levels of productivity and administrative performance.
After tabling discussion last month, members of the Montgomery County Board unanimously approved spending $57,875 on new financial and payroll software as part of their regular monthly meeting on Tuesday morning, Feb. 10, at the Historic Courthouse in Hillsboro.

Board members Mike Webb and Bob Sneed were absent from the meeting.

Finance Committee Chairman Megan Beeler said she tabled the motion last month because she felt there were some details that still needed to be ironed out. This month's motion featured an approval to purchase both the financial and payroll software from Zobrio, but the committee decided to hold off on the human resource and time keeping modules. Zobrio has agreed to lock in the same price for up to six months if the county decides to add the human resource or time keeping modules.

Board member Heather Hampton+Knodle asked if that price lock was included in the contract, and Beeler said it's not because it's not part of the proposal. Dave Penrod of Zobrio was present at the meeting and guaranteed to board members he would offer them that same price.

Board member Ron Deabenderfer asked about the advantages of the new software program. Beeler said the county is currently paying for a software system, and this one will improve the county's accounting ability and improve efficiency.

"It offers better payroll and inventory tracking," said Treasurer Ron Jenkins. "It brings us out of the Stone Age."

Board Chairman Roy Hertel said the county employees tried two new software companies and they preferred the Zobrio software, and Jenkins added that it's very user friendly.

Board member Mike Plunkett said the software does have an annual maintenance agreement, but will cost $9,000 a year less than maintenance on the current software.

"Basically, it will pay us back in six years," Plunkett said.

He added that the board budgeted $80,000 for the project and will come in well under that.

Consent Agenda

Under the consent agenda, Supervisor of Assessors Ray Durston reported he hired a new GIS technician, Cassidy Younker of Stonington. Durston said she is catching onto the new job very well and will attend training next week.

County Clerk Sandy Leitheiser said her office has been collecting fees under the Rental Housing Support Program. The state charges $9 for every recorded document and the county has collected $430,326 since the law's inception in August 2005.

"The intent was to serve low income housing," Leitheiser said. "I have been trying to advocate to get those dollars returned to Montgomery County."

She said that the CEFS program and CEO Paul White applied to receive some of that funding, and has brought $117,168 back to Montgomery County since 2012.

"We'd like to see it all come back here, but this is a good start," Leitheiser said.
Saba Software, a troubled cloud-computing firm based in Silicon Valley, has agreed to be taken private by Vector Capital for about $300 million.

Vector, a private equity firm that had previously provided a loan to Saba, will pay $9 a share for Saba, which was delisted from the Nasdaq in 2013 and is currently traded over the counter. Including debt, the deal is valued at about $400 million.

Vector’s offer price was just below Saba’s share price until Tuesday afternoon, when trading in Saba shares picked up and leveled off at $9 a share.

Saba was delisted from the Nasdaq after it was forced to restate earnings following an accounting fraud scandal. Also on Tuesday, two former chief financial officers of Saba agreed to return nearly a half million dollars in bonuses and profits from stock sales that they received while the company was said to be misstating earnings.

After the scandal, Saba hired Morgan Stanley to explore strategic alternatives.

“Over the course of Saba’s comprehensive review, the board of directors and our advisers evaluated a wide range of strategic alternatives, and engaged with a number of parties,” said Bill Russell, Saba’s nonexecutive chairman. “We are pleased to have reached this agreement with Vector, which provides significant cash value for our shareholders.”

Saba makes cloud-based software that helps companies with hiring and talent management.

Vector, a firm that specializes in technology, has in the past also invested in WinZip, LANDesk Software and Register.com. Vector recently sold SafeNet to Gemalto for nearly $900 million.

“Vector, along with some of the world’s premier financial institutions and investors, is excited to help Saba move beyond its financial restatement process and put the focus squarely on the company’s innovative cloud talent-management platform and its blue-chip customer base,” said David Fishman, head of private equity at Vector Capital.

Saba received financial advice from Morgan Stanley and legal advice from Morrison & Foerster. Shearman & Sterling provided legal advice to Vector.
Venezuela has verified last week that its economy has indeed entered into a recession as domestic inflation stays the highest in the region.

President Nicolas Maduro, leading the socialist administration has been blaming the opposition for the market's poor performance.

Hugo Chavez's apprentice, Maduro won the election in 2013 and one of the problems he was faced with is the damage done in their economy largely dependent on oil. His placing the blame on his political rivals did not help but instead resulted in tragic street protests last year which resulted in 40 people dead on all sides.

Maduro said in the press conference, "Despite the protests and economic war during 2014, Venezuela's economic indicators have improved. This economic war, this fall in the oil prices, is a great opportunity for economic change. 2015 is the year of opportunity, for great change in the economic model."

Meanwhile, the opposition are saying that the nation's crisis in economy came as a result of more than a decade of socialist policies initiated by Chavez.

Various regional organizations, banks and economists have already predicted that Venezuela could be poorest performer in the region in terms of economy last year.

A statement from their central bank just confirmed that forecast even prior to Maduro's press conference where the economic changes were announced.

In a statement made by the central bank on Cheyney Group Marketing, it said, "These actions against public order blocked the correct distribution of basic goods to the population, as well as the normal development of production of goods and services. This resulted in an inflationary spike and a fall in economic activity.

Moreover, the GDP (gross domestic product) fell in all 3 quarters last year while inflation reached 63% by November while poverty decreased to 5% and unemployment was down to almost 6%.

Venezuela also had a recession from 2009 to 2010 so it leaves doubt as to its ability to turn its economy for the better especially with the low oil prices. Apparently, during Chavez's term, policies were greatly supported by the public leading to improved social indicators despite a low GDP.

A number of Cheyney Group Marketing experts have already suggested changes like an increase in gas prices and the unification of the country's 3-tier currency control. However, Maduro seems to be unwilling to adopt them probably because of the expected public backlash., 
Nike, the largest provider of sporting gear in the world has slid the most in the last couple of quarters after orders has failed to measure up to analysts' forecasts, mainly because of the slow demand from emerging markets.

A primary factor which contributed in the fairly high expectations is the good performance of Nike shares in the previous year. According to Cheyney Group Marketing's statement, orders for Nike gear have previously been on an upward trend, hence the 11% gain that was predicted by analysts. As they say, when you're already in such a high place, it's not enough to just rest on your laurels -- you have to plan how to surpass your own records.

In Nike's biggest market alone, orders increased by 13%, but still slightly under the 13.1% forecast while in Europe, they also rose by 13% but significantly lower than the 15% estimate. Moreover, orders coming from other markets only rose by 1% compared to the 7% estimate.

Not only did the NKE shares slide as much as four percent but also those of retailers that offer its products such as Finish Line and Foot Locker.

Meanwhile, net income on the last quarter increased by 23% or 70 cents per stock which just about fulfilled the prediction of Cheyney Group Marketing analysts. On the good side though, its revenue has increased by a whopping 15% while beating forecasts of analysts.

Such orders were observed closely for most investors see them as a foreshadowing of how the brand will sell in the future.

Though NKE shares did drop because of last week's unfavorable results, they increased fairly well on the first quarter of 2014 as the brand's athletic wear finds its way into mainstream fashion and casual outfits through the "athleisure" trend.

Meanwhile, Nike's close rival, Adidas, has consistently exceeded expectations of analysts by posting favorable profit and sales numbers -- perhaps owing to the fact that it has reduced its profit estimate due to weak demand in sports gear.


 
Simple and rudimentary bookkeeping measures will go a long way to maintain your small business’ viability for years and keep your investment growing. It will also help you prepare early on for filing a realistic tax return. Take a look at these following tips:

1. Hire a bookkeeper

Small-business owners normally take more roles than they can handle, for instance, as manager for accounting, sales and marketing all-in-one, in order to save on salaries. At times though, getting a full-time or part-time bookkeeper might be the better and wiser option as the task requires a deeper and more extensive understanding of accounting books. A freelance bookkeeper can help you save on salaries more as you pay only when you actually need the service. Nevertheless, the U.S. Small Business Administration can likewise help you manage your expenses on your own to save even more. Or you can avail of free accounting software from GnuCash.org and do it yourself as efficiently as others might do it.

2. Separate your accounts receivables and borrowed funds

This seems obvious; but many fail to practice this simple step. Small-business owners require financial assistance to cover their start-up capital or operating expenses and other initial business expenses. Make sure you use software that does not incorporate income with your loan proceeds. The goal is to always know what belongs to you and what does not. Unlike magnets, positive and negative funds do not attract or mix. Keep your eyes on the former (Be Positive!) in order to cover, that is, remove the latter.

3. Follow-up on clients who have payables

Receivables look good on paper; but they are useless until you have them in your bank account. Make your clients pay regularly, as much as possible. You can enforce this by not delivering materials or services until outstanding balances have been settled. Your personnel in charge with collection have to stay firm and uncompromising in order to keep your business viable.

4. Itemize your daily expenses for the coming weeks

Detailing your expenses on a daily basis (taxes, professional fees, advertising, utilities, etc.) will help you become more aware of what is happening in your finances. That is the role that accounting does for business. So, instead of the bi-weekly computation of salaries, daily or weekly itemized expenses will let your budget ahead more accurately and prepare you for any unforeseen expenses or deficits.

5. Determine a reasonable monthly profit

It takes great effort and patience to operate a business and to maintain a proper accounting system. Develop an efficient accounting strategy which will monitor your expenses and payables in order to compute for an acceptable minimum income on a monthly basis. Stick to that minimum profit target for your business. Once set, you can concentrate on what needs to be done to achieve that goal on a regular basis.

These are tried and tested steps any beginning small-business owner can put into good use. A simple, well-maintained and practicable accounting system is all one needs to learn the essential tricks of the trade and grow from there to more fruitful gains.
Many of us have that recurring nightmare of being in Accounting 101 class in college on the last day of the term for the first time — and it happens to be final-exam day! You suddenly wake up sweating and panicking and realize you have never been that good in your own financial accounting. You feel like the unfaithful servant to whom the master says, “Give an account of yourself!”

Dreams have an uncanny way of mirroring life. Perhaps, there is a way to change reality by making our dreams more to our liking. In my friend’s case, he never had an Accounting unit his entire student life; so he went on to change his dreams by reading and studying about Accounting and Finance until he gradually overcame his financial woes.

Here are 5 tips (or principles) he shared to start having a practical and efficient personal financial discipline:

1. Have a budget

This is essential! No matter how little money you have, having a budget is a must. But if you do not have money at all, there seems to be no sense in having a personal budget. Wrong! Zero is the least money you can have. If you do not have a budget, then you will never have practice when you get some money eventually. Truth is, we all have some money, no matter how little; and knowing how to manage your money is a vital habit every person needs to develop.

2. Start with how much you need, not how much you have

For years, my friend made a yearly money plan starting with how much he needed to support himself and to implement his projects. After many years, he finally found enough income to rent a decent apartment, buy appliances, travel more often and start living his dreams (and reduce his nightmares). Being positive, especially during those times we are really down, is not mere pretending but practicing a lifetime of hopeful anticipation. As they say: Dreams are free; so, get dreaming!

3. Next step, obviously, is to have a realistic budget

Having a workable budget can often be depressing. (This is when you really need optimism!) Workable means allocating as much money for all essential expenses. You know you will need some more money to fill in the deficit and sourcing it is part of the Accounting problem. Realistic, ironic as it may sound, means figuring in what you need to overcome your deficit. This may mean a lot of waste of time; but it is an exercise in optimism and practice for the fat years ahead. The next step further explains what realistic means.

4. Every budget must include a deficit budget and a plan for filling the deficit

A plan for sourcing out the money you do not have is the best part of a personal budget. It draws out the creative juices hiding within you. It could be that business plan you have had for years for a small venture that will give you the impetus to go ahead and take out a loan and do it finally. Or, you can take an extra job to raise the funds you need for the needed capital. Work your plan.

5. It is all about discipline

Little or much, money is all about stewardship of something we do not own ultimately. People who presume too much and think they can do whatever they want with money lack the discipline and are not qualified to teach others who need budgetary discipline. And those who do not have enough money and think the same way will have a hard time acquiring the discipline they need to get over their financial problems.

Discipline is ultimately about perseverance and seeing our dreams come to fruition by the day.

Counting money and using it wisely, whatever is there left after all the necessary expenses, is a primary human activity most people still need to handle properly. And even those who have much of it have so many obligations they probably have more nightmares than those who know next to nothing about Accounting.

In the end, losing sleep over money is counterproductive. And so is losing money because you lack sleep. It is always better to be content with what you have and strive to be happy over other things money could not buy for money does not guarantee us happiness or peace.

A happy budget, remember, is one that you make because you are happy to be alive and have enough to last till the next pay day.