If you are new to using a credit card processing service, you may find your credit card processing statement difficult to understand. If you're confused about the difference between interchange fees and processing rates, read on to learn all you need to know to understand your processing statement in full.
Nothing will result in a more complete standstill for your business than an issue with your business's payment processing abilities.
Regardless of whether it is a freeze on your processing ability, withheld funds or the termination of your processing account, these situations can often result in devastating effects for your business.
The good news is there are some things you can do to avoid issues related to merchant account freezes, holds and terminations, with five tips found here.
2018 Tax Updates and Changes
Good news for the American taxpayers... they have until April 17, 2018, to file their 2017 tax returns. Why? As per the I.R.S., the regular April 15 tax day is postponed when that date falls on a weekend or legal holiday.
The recent tax plan enacted by Congress for 2018 means a slew of changes as you file your return. Many of these changes might reduce your tax burden, so it is important to know what will affect you and how to pay your taxes for the year.
How Tattoo Shops and Salons Can Maximize the Power of Their Schedule
Across every industry, in every sized business, controlling appointments is the cornerstone of financial and organizational success.
For small businesses, balancing a great customer experience and consistently high-quality work with the need for a full schedule is a constant battle. Here are some tactics that small businesses can use to control appointments
If your industry requires a customer waiver, you can feel overwhelmed by the sheer volume of paperwork required to do business. Those who run tattoo parlors and other high-liability companies can't afford to be sloppy in this area, no matter how time-consuming it is. In addition to simply checking out your customer, you need signed copies of the waiver, copies of the driver's license and other forms safely stored for easy access. Otherwise, you can be exposed to serious legal liability. Now Clover offers an application that allows you to streamline this record keeping so that everything can be done in one step.
Running and growing a business is a balancing act. Not only must you manage clients, vendors, employees, and the million "unexpected" problems that inevitably crop up -- you must do all that while maintaining positive cash flow.
Marketing is an essential part of growing your business. However, even the most cost-effective marketing campaigns can be prohibitively expensive for a bootstrapped small business. Fortunately, there are marketing ideas you can try on your own in order to jumpstart your business.
If you are a business owner, you may wonder how you can increase your sales in order to make your business not only thrive -- but soar! Getting your business name on Google is one of the best ways to have a positive effect on your bottom line. Having an online presence can benefit your business in many ways and help you utilize technology in ways you may never have imagined.
Having an online presence can increase your sales, make your business name more recognizable and boost your revenue. As a savvy business owner, it is likely that you already invest in merchant services and offer credit card processing as a form of payment. Therefore, you are already using technology in a small way for your company's success. Some of the ways Google can dramatically help your business grow include:
- Google has the resources to help you with every aspect of your online presence. It can assist you in creating a custom-made website, and provide you with all the analytics, tools, programs and workshops to help boost the performance of your website.
- When someone does a search online, Google results are at the top of the list. People generally won't take the time to scroll through more than one or two pages of results; therefore, it is imperative that your business is at the top of the results.
- Having a website enables customers or clients to purchase from your business 24/7. Often, a client or customer will decide after visiting your brick-and-mortar store and others that the product or service you provide is the best choice. A Google presence enables them to go ahead and make the purchase without having to make a special trip back to your store. If your business is not within their daily route, they may not make the effort. An online presence captures this sale.
- Social media makes the term "word-of-mouth" into more of a global term instead of just your community. People praise products and services via social media and this type of advertisement is not only free, it is invaluable!
If your business doesn't have an online presence with Google, it isn't as likely to succeed as other businesses that are similar to yours. This is because when consumers need a product or service, the first place they explore is online to see what is offered. Having a Google presence is one of the smartest ways to enable your business to thrive and have longevity in the global marketplace.
There are many tools available that not only solve your merchant processing solutions to help your small business succeed and grow, but will also help increase your online presence, and these include SMART POS systems, or "point of sale" systems. These not only speed transactions and gather useful information you can use to fine-tune your marketing efforts, but they also help with your social media posting. Some great examples of SMART POS solutions are Clover Station, Clover Mini, Clover Mobile and the Clover Flex.
It can be challenging for seasonal businesses to find merchant services that work for their business. You need flexibility and a powerful processor that can handle volume during your busy season. Traditionally, these services for seasonal businesses have been more expensive, because they may have to face early termination fees for turning off processing in the off-season or simply have to pay year-round rates. However, forward-thinking businesses like Velocity Merchant Services have created solutions perfect for you and your seasonal endeavor.
While most credit card processing companies have a clause stating they will charge an early termination fee, there are ways to avoid them. If you’re a merchant and you need to cancel a contract early, the early termination fee (or ETF) is a way for the credit card processing company to help recoup the costs they faced in setting your account up: obtaining the account number, credit checks, collecting documentation, programming and shipping equipment, installing equipment, training and maintaining tax records for the processing account.