BookKeeping Express has awarded a Territory Development Schedule in

Boston, MA

to

Rodolfo Palafox!

BookKeeping Express has awarded Territory Development  

in Tri-Cities, WA

to

Shandra Knowles!

Congratulations on another BookKeeping Express franchise! 

Know your financials, be personable and get creative

For individuals thinking about opening a franchise as a sole proprietor, there are lot of “do’s and don’ts” you should be aware of. Here’s a quick playbook to follow for 2012:

Before meeting with a potential financier

Have your financial records in order: Print out your current profit-and-loss statement (P&Ls), a balance sheet, accounts payable, accounts receivable and any other financial information ready.

Prepare a presentation on your business, including an introduction, history and background, executive overview, services and/or products, financial projections and use of funds. Don’t forget to present information on the franchise concept you are interested in. A financially solid franchisor will usually help with obtaining your loan.

If you are attempting to work with a bank, you will need a “collateral game plan” to support loans and credit. The current lending environment makes it difficult to obtain a loan. The banking community is on lockdown and almost strictly loaning to individuals who have plenty of cash, revenue and securities.

Rookie mistakes to avoid

1. Rushing services and products to market without proper due diligence.

2. Not developing a strong marketing program before launching a product.

3. Not forging a strong partnership with vendors— landlords, suppliers, franchisors and the local community.

4. Not making enough of a buzz when entering a market.Come in with a bang.

5. Not rehearsing before the grand opening. Practice, practice, practice prior to inviting customers into your store or office.

Key strategies to gain (or steal) market share

1. Bring a more personal touch to clients and prospects.Smaller companies have an opportunity to become More intimate with their clients and prospects. Build relationships.

2. Having a bricks-and-mortar location in the market allows for community relationships. People tend to do business with franchisees that are visible.

3. Get creative with marketing: Social media, car wraps and hosting events will bring attention to your products and services.

4. Third-party teaming and testimonials will help bring credibility, and put individuals at ease when looking at your products and services.

In franchising, you are always going against the clock, often working with funding limitations and striving for that winning play. But always have the right game plan.Use many playbooks, and never hesitate to go back to the chalkboard.

About Greg Jones

Greg S. Jones is CEO of Vienna, Virginia-based BookKeeping Express. Previously, he was vice president of sales for Fransmart in Alexandria, Virginia, a company specializing in franchise sales, development and support for franchisors and franchisees.Jones specializes in real estate and Five Guys Burgers and Fries franchise development in Florida. He can be reached at gjones@bookkeepingexpress.com.

With less than a week left before tax day —  and, good news, it’s April 17th this year — there’s no more room for excuses, distractions or procrastinations. It’s crunch time. Even if you haven’t finished — or started — filling out forms, you’ve still got time to get your receipts in order and work the tax code to your advantage.

First things first: You will need to pay close attention to new legislation. Under the new 1099 reporting requirement in 2012, all business and non-profits are required to prepare 1099 forms for all services and goods purchased from all vendors totaling $600 or more annually.

Corporations are no longer exempt from receiving 1099s, and the purchase of goods is also included in the new requirement. This now means that business owners must report all business-to-business transactions, including purchases made from Staples, Office Depot and other vendors for example. If a business owner pays for purchases with a credit or debit card, they are not required to issue a 1099—only for payments made via check or cash. So, get those receipts out.

The new 1099 reporting requirement is forcing business owners to keep better track of their books. Yes, this is time consuming, but ongoing bookkeeping can save small business owners hundreds of thousands of dollars every year and can help entrepreneurs grab hold of their vulnerabilities. The results of this new legislation is keeping businesses from evading taxes and indirectly offer savings to small businesses that adopt more rigorous bookkeeping standards.

E-file for Free

This will save you a trip to the post office at 11:59 p.m. on April 17. Tax payers making $57,000 or less may be eligible to use free tax preparation software and electronic filling. The software completes the forms from a series of questions that allow you to input your information. Those making in excess of $57,000 can e-file for free using free fillable file forms, which provide the forms, but do not include the tax preparation software.

Don’t Forget Deductions

Finally, make sure you’ve made note of every deduction you are allowed. There are several that allow you to subtract business costs from gross income. There are a handful of business expenditures that qualify as deductions. Knowing which deductions are appropriate will save you headaches later on.

Save on start-ups: The costs of launching a business are considered capital expenses, and you may deduct $5,000 your first year in business.

Business-related education: You can deduct educational expenses that maintain or improve skills required in your present employment. This includes seminars, classes and convention fees.

Deduct on driving: You may be able to expense the cost of a vehicle if it is for your business. Also, be sure to document the mileage driven for business and you can deduct 55.5 cents per mile on your tax return. You may also deduct for tolls and parking costs.

Equipment and software savings: It can be a fairly costly task to get your small business up to speed with today’s ever-changing technologies. Equipment Section 179 of the Internal Revenue Code allows you to deduct up to $125,000 of the cost of new equipment or other assets in 2012 — this includes personal computers, laptops and office furniture. Additionally, you can deduct software purchases for your small business if it was purchased and used within the same year.

Perks of working from home: Not only does a home office allow you to work in last night’s pajamas, it also makes you eligible for home-office deductions. As long as the designated “office” space within your home is used exclusively for business purposes, you might be able to deduct a handful of things ranging from a portion of your rent and utilities to internet costs and repairs.

• Self-employed health insurance deductions: The self-employed health insurance deduction is one of the most significant deductions you can take as a small business owner. You may be qualified to deduct premiums paid on qualified longterm-care insurance, medical and dental insurance not only for yourself, but for your spouse and dependents that are under the age of 27.

Greg Jones is the CEO of Vienna, Va.-based BookKeeping Express, an international bookkeeping business designed to support small to mid-sized companies.

Source: http://www.cnbc.com/id/47030707

Hodgkins, IL – The West Suburban Chamber of Commerce and Industry will host the 38th annual Seeds of Greatness Awards Dinner on Wednesday, April 18, 2012 at the William Tell Holiday Inn in Countryside.

The Seeds of Greatness Awards honor persons and businesses that have contributed to the success of our region through outstanding achievement in community service, public service, or business. This year’s award winners are: Community Service – Linda Nadkarni, teacher, La Grange Park resident and area philanthropist; Public Service – Mike Bojovic, Village of La Grange, Assistant Director of Public Works; Business Leader – Allison Muzal, Bookkeeping Express; Excellence in Business – First National Bank of La Grange. The Young Man of the Year winner is Reggie Young, Argo Community High School; Young Woman of the Year winner is Meghan McDermott, Lyons Township High School. The Honorable Mention for Community Service was awarded to the Y’s Mens Club of the YMCA.

The annual awards celebration is a wonderful opportunity to recognize the significant accomplishments of the honorees. Their contributions have positively impacted the economic and community development of the region.

Keith Hill of Edward Jones Investments and Securities spoke on behalf of Community Service winner Linda Nadkarni: “Linda is one of the unsung heroes of our community. She works to affect real change, diving in and pushing others to work harder.” Nadkarni has offered her talents to Kiwanis, Builders Club of S.E. Gross Middle School, Riverside Presbyterian Church, the LeaderShop (formerely CEP Youth Leadership), Pillars, Elmhurst College Alumni Board, Teen Parent Connection, and Lifelink Charities.

Charlene Vickery, La Grange Business Association Board Member said of Public Service winner Mike Bojovic: “Mike is a tireless supporter of the area business community. Among his many successes is his work beautifying the Village of La Grange. It looks great! And his work is indispensable on the Village’s Summer Arts Program.”

In addition to the generous volunteer hours Business Leader Allison Muzal contributes to WSCCI events and committees, her business – Bookkeeping Express – is committed to value and excellence. Muzal regularly shares her expertise with the community in the form of free educational events and is a trusted professional resource. Muzal has also served on the board of the Westchester Library.

“First National Bank of La Grange received many nominations for the Excellence in Business Award,” noted Katherine Leibforth of the West Suburban Chamber of Commerce. “They are widely acknowledged as having an important impact on the health and well-being of area residents, particularly the aging.” Ken Grunke of Aging Care Connections called attention to their Elder Abuse program, which worked to create an awareness of the financial exploitation of seniors. Grunke stated, “All levels of staff at FNBL are involved in community efforts. All area organizations, businesses and individuals have benefitted from having an institution like First National Bank of La Grange. They offer a strong sense of partnership with a strong, caring heart.”

Meghan McDermott of Lyons Township High School will receive the Young Woman of the Year Award based on her “passion for helping others.” Leslie Price, Children’s Director at the Theater of Western Springs said, “Meghan has a tremendous empathy for others. She goes the extra mile to make sure younger students feel empowered to try new things, and shy students grow in confidence.” McDermott initiated a partnership with Peace Builders, bringing two dozen inner-city students to a TWS production. Said Price, “Meghan is a wonderful student and an amazing citizen.”

The Young Man of the Year Award will go to Reggie Young of Argo High School. In addition to school work, Young plays football, runs track and volunteers at the LeaderShop. Leadershop staff member Meredith Schilsky said of Young: “Reggie has devoted more than 710 hours of volunteer work to the LeaderShop. He is the kind of student who will achieve his goals despite setbacks. I fully expect to see Reggie influence young people through sports, service and his inspiring words of hope and change.”

The Y’s Men are well known in the Western Suburbs for their Christmas tree sale, the proceeds of which are distributed among several area charities. In addition the Y’s Men award scholarships to some of the local high school’s most promising scholars based, in part, on their own service to the community.

The gala honoring these award winners is sponsored by Adventist La Grange Memorial Hospital, Community Memorial Foundation, and MB Financial Bank. The evening will begin with a cocktail reception at 5:30 p.m. followed by dinner and awards at 6:30 p.m. Tickets are $65 per person or tables of ten for $600; the event is open to the public. For reservations, program advertising, sponsorship, or additional information, please contact Kristen Hermes, West Suburban Chamber of Commerce and Industry, 708-387-7550, or kristenh@wscci.org.

source: http://triblocal.com/la-grange-la-grange-park/community/stories/2012/04/community-members-to-be-honored-at-west-suburban-chamber-of-commerce-industry%E2%80%99s-38th-annual-%E2%80%9Cseeds-of-greatness%E2%80%9D-awards-dinner-on-april-18-2012/

BookKeeping Express has awarded its second Territory Development Schedule in

Tampa, Florida

to

Dominic Cirello!

 Congratulations on another BookKeeping Express franchise! 

Congratulations Dominic Cirello

BookKeeping Express has awarded Territory Development rights

in Westport/Fairfield, CT

to

Richard Landino!

 Congratulations on another BookKeeping Express franchise! 

Congratulations to Richard Landino

We are happy to announce that
BookKeeping Express has awarded Territory Development rights
in Tampa, Florida
to
Carlos Diaz

Congratulations on another BookKeeping Express Franchise! 

Congratulations Carlos Diaz

In today’s economic climate, sometimes even the most steadfast employees who would never think of committing fraud against their employers are more willing to take unlawful risks in order to have some extra money in their pockets.

A 2009 survey conducted by the Association of Certified Fraud Examiners, found that U.S. organizations lose 7 percent of their annual revenue to fraud. Based on the 2008 GDP, this is approximately $994 billion in fraud losses. And employees accounted for 48 percent of those cases.

The majority of these cases happened in companies with fewer than 100 employees with median losses of $200,000. The most common of these small business fraud schemes were check tampering and fraudulent billing. Another alarming statistic comes from the U.S. Chamber of Commerce. It estimates that 75 percent of all employees steal at least once, and that half of these individuals steal repeatedly.

Here are procedures small businesses can implement to curb employee theft and fraud:

Division of labor: Never allow the same employee to have the ability to write checks and manage the books. Engage two employees in this task or outsource the bookkeeping element.

Job rotation: Have employees change jobs periodically; and don’t announce the rotations ahead of time. This will create a culture of self-policing by rotation of duties and will enhance employee satisfaction.

An increase in outstanding receivables could be a red flag: Look for an increase in the age of receivables as well as an increase in bad debt. Institute a weekly or bi-monthly aging meeting with supervisors and managers to discuss collections and their status.

Require monthly journal entry reports: Managers should do this to understand the fiscal health of their business, but also to question expenditures or journal entries that look out of line or unfamiliar.

Use preprinted checks: Require immediate reconciliation of bank statements and accounting for each check number.

Have credit card and bank statements sent to home address: This is a simple control. The business owner could then institute a routine of initialing each entry he/she approves and recognizes before discussing them with the bookkeeper.

Check signing meeting: All outgoing checks should be discussed, with accompanying documentation, as they are being signed. The check preparer and signer are the only attendees in this meeting. This is a great opportunity to catch fraud if it is taking place while at the same time going over expenses and payments being made to vendors.

Credit report evaluation: Just as you evaluate and track your personal credit reports, make sure it’s being done for your business. Look specifically for credit cards that may have been taken out in the company’s name.

Spot checks and audits: Develop a culture that understands that an audit of back office operations can be done at any time. Too often, owners look at the bottom line and disregard the system that is reporting that bottom line. As a security and accuracy measure, consider outsourcing some part of your internal systems (bookkeeping, payroll or both) to a third party. This allows for red flags to be raised without the offender’s ability to manipulate the system. The added benefit is a regular and naturally occurring audit system.

But remember, there is no “cookie-cutter” system that will completely combat theft and fraud. However, implementing processes and procedures that provide oversight and accountability will help deter the temptation that certain employees will have to steal from their employer.

Greg Jones is the CEO of Vienna, Va.-based BookKeeping Express,an international bookkeeping business that supports small to mid-sized companies.

Source: http://www.cnbc.com/id/46556452