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Jason Obrien

How to Easily Find Information About Companies in Liechtenstein

Last Updated on January 26, 2023 By Jason Obrien Leave a Comment

Would you like to get safe and up-to-date information about Liechtenstein companies? If so, you’ve come to the right place! This article delves into the steps to obtain the certificate, exploring topics such as what information is stored and how it is presented and arranged within the official document. Read on to find out everything you need to know about how to search for a company in the commercial register in Liechtenstein?

What is a Liechtenstein Company Search?

A Liechtenstein Company Search is an official document containing detailed information about a company, such as its constituent data, organizational structure, and legal status. It is typically issued by the Liechtenstein Company Registry and can be used to verify a company’s legitimacy and background.

What Data can be found in a Liechtenstein Business Registry?

Business reports in Liechtenstein typically contain a variety of information about the company, including name, registration number, address, type of business, date of incorporation, amount of share capital, directors, and financial statements. Additionally, the report may contain information about any legal proceedings the company has been involved in or is currently involved in, as well as any government compliance issues.

What is the Purpose of a Liechtenstein Company Search?

The main purpose of a company report in Liechtenstein is to provide a company overview for interested parties. This information helps them evaluate whether or not they want to invest in or do business with the company. Furthermore, company reports are often used for research or commercial purposes or for legal proceedings.

How to Get a Liechtenstein Company Report?

In Liechtenstein, the commercial extract can be obtained from the Company Register or from a third-party provider. Businesses or individuals can request any reports directly from the government or they can purchase reports from providers.

graph analysis

Obtaining a report in Liechtenstein can be difficult given the many complicated steps. Order your Liechtenstein Commercial Extract directly from here, you will receive it within hours of placing your order. You will be aware of accurate and up-to-date data in order to make the best decision and promote your economic growth.

What is a Liechtenstein Company Search?

A Liechtenstein Company Report is an unofficial document that provides general and operational information about a company in Liechtenstein. This type of documentation usually includes the legal and constitutional data of the company, such as official name, date of registration, share capital, legal form, etc…as well as other important details relating to its formation. The Company Registry also includes information on the company’s shareholders (only if it is unique), the management team, and on corporate governance policies. With this information, investors, creditors, and other interested parties can gain insight into the company’s financial health and how it is being managed.

How to Retrieve a Dutch Company Extract?

Retrieving a Liechtenstein Company Extract can be done in several ways. The easiest way is to get it from Commercial Registry. Reports can also be purchased from third-party vendors who specialize in providing such services.

Why is it Essential to have a Report of a Dutch company?

For example, investors use them to assess the financial health of potential investments and determine whether or not they should invest their money in the business. Lenders also use these ratios to evaluate the creditworthiness of the companies they are considering lending money to. Additionally, employees can use them to evaluate job offers from potential employers or to better understand the management/financial situation of their current employer.

Retrieving a report on a Dutch company is not as difficult as it might seem. Request your Liechtenstein Company Report here. You can easily access valuable and reliable information about any Dutch company of your choice. With this knowledge, you can make decisions based on accurate and up-to-date data.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Business

How to Choose Between a Forklift and Pallet Truck?

Last Updated on January 21, 2023 By Jason Obrien Leave a Comment

Whether you’re looking for a reliable way to move pallets or other materials around your warehouse, a forklift or pallet truck can be the best option. Both are designed to transport items quickly and carefully, but some major differences should be considered before purchasing. Let’s explore the benefits and drawbacks of each type of lift truck.

Forklifts

Forklifts come in different shapes and sizes, from small electric models to more extensive diesel options. They are multipurpose machines that can withstand and handle different types of loads, including oversized pallets with bulky capacities. Depending on your preferred model, forklifts can also be used indoors or outdoors. The main problem is that they require special training and accreditation to operate safely and professionally. Additionally, due to their size, they may not fit well into congested spaces or work as swiftly in tight areas like narrow aisleways.

Working Mechanism

Forklifts come in two different types: electric forklifts and internal combustion engine forklifts. A forklift is typically powered by an internal combustion engine that runs on propane or gasoline. An operator cab is located at the rear of these forklifts, where controls are provided for operating the lift and steering the vehicle. Hydraulic cylinders are used to raise and lower the front end’s forks. Additionally, the forks can be extended or retracted according to the size and weight of the load.

Where is it Used? 

Forklifts are commonly used in warehouses and factories to move pallets from one area to another quickly and efficiently. They can also be used in construction sites to help raise heavyweight materials such as concrete blocks or steel beams into place during building projects. Forklifts can even be found in retail stores, assisting employees to move merchandise around speedily and effortlessly. If you need a forklift for short-term projects, consider renting one instead of making a purchase. It’s more cost-efficient and can help you save time and money in the long run. You can easily find a forklift for rent in the market.

Pallet Trucks

A pallet truck is material-handling equipment used to quickly and efficiently transport goods from one place to another quickly and efficiently. It is also known as a pump truck, pallet jack, or jigger. It consists of two forks that slide beneath the base of the load, which is typically on a pallet or platform. A handle allows the operator to push or pull the load easily.

Pallet Truck

Pallet trucks are much smaller than forklifts and are designed especially for moving pallets in a warehouse setting. They typically have a manual pump system that allows the operator to tilt the forks up or down to move heavy items from one warehouse area to another without having to lift them manually. Durable and reliable pallet trucks do not require any special training and can easily manoeuvre around tight corners due to their compact size. However, they cannot handle large loads like forklifts can and may not be able to transport goods over long distances due to their limited range of motion.

Benefits of Pallet Trucks

Pallet trucks have several advantages over other materials handling equipment such as forklifts or hand trolleys. Firstly, they are more cost-effective than other methods since they require no additional fuel costs or maintenance fees, making them the perfect choice for businesses on a budget. Secondly, they are much easier to use than other methods as they require minimal operator training and can be operated by anyone regardless of experience level. Lastly, they are very versatile pieces of equipment that can be easily used in indoor and outdoor settings.

Safety Considerations when Using Pallet Trucks

When using pallet trucks, safety should always be your top priority. Always check the weight capacity of your truck before loading it up with goods, and ensure your load is balanced correctly so that it won’t tip over while being moved around. Additionally, always wear safety gear such as gloves while operating the truck to protect yourself from potential injuries during use. Finally, always ensure that you keep your work area free from any obstructions that could get in your way when pushing or pulling the load with your pallet truck.

Conclusion

When deciding whether a forklift or pallet truck is suitable for your needs, it’s crucial to consider what type of goods you need to transport, how often they will need to be lifted, and where they will need to be lifted from/to within your facility. Forklifts provide more adaptability but require extra training. In contrast, durable and reliable pallet trucks offer ease of use with no further training needed but may not have enough power for heftier loads over long distances.

Ultimately, when considering which option is best for you, ask yourself these questions: What types of goods am I moving? How often do I need them moved? Do I have enough space inside my facility? Answering these questions should help you decide whether to go with a forklift for rent or a pallet truck.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Industries

How to Get Started with Translation Services – 10 Ways

Last Updated on January 17, 2023 By Jason Obrien Leave a Comment

Translation services can open up the world to your business. Whether you need to communicate with a foreign partner, communicate in multiple languages on your website, offer customer service in different languages, or just make sure that everyone who visits your store is able to understand your message, translation services are an invaluable tool.

With the right approach and strategy, translation services can be a great asset to any business. In this article, we will explore how to get started with translation services.

Start by Researching the Language you Need to Translate

Before beginning any project, it is important to understand what specific language you need translated and become familiar with its nuances. Researching the various dialects and idioms associated with the language can help ensure that your translations are accurate and effective.

Translation services can also help make sure that your content is properly localized for specific markets. It’s important to consider cultural norms and preferences when selecting a language to be translated into, as this can have an impact on how well the translation is received by the intended audience.

Research Potential Translators

Once you’ve identified the language you need to be translated, it’s time to start researching potential translators. Look for translation services that specialize in the language you’re looking for, as well as those with a good reputation and track record of successful projects.

When selecting a translator, also look for someone who is familiar with the subject matter of your project and has experience working with similar clients.

Ask for Sample Translations

In order to ensure that you are getting the highest quality translation services, ask potential translators for samples of their work. Requesting translated documents from previous projects can help you evaluate a translator’s skill level and determine if they will be able to meet your needs.

Translation service providers should also be willing to provide references from past clients, so you can get a better idea of the quality of their work.

Consider Rates

When selecting a translator, it’s important to consider both the cost and the quality of their services. Professional translation services often come with higher costs, but they are often worth the investment if you need accurate and reliable translations.

It is also important to look at the rates offered by various translation services and compare them in order to get the best deal for your budget.

Before agreeing on a rate, make sure that the translator understands your project and the scope of work required. It’s also important to discuss payment terms before signing any contracts or agreements.

Establish Deadlines

Before hiring a translator, it is important to set realistic deadlines for the project. Translators will often have other commitments and need to plan accordingly, so make sure that your deadlines are reasonable.

In addition to setting deadlines for the completion of the project, you should also establish milestones or checkpoints along the way to ensure that progress is being made and any issues can be addressed as quickly as possible.

Discuss Payment Terms

Before beginning any translation project, it is important to discuss payment terms with the translator. This includes when payments are due, as well as any additional costs that may be associated with the project, such as translation software or other services.

By setting clear expectations about payment terms upfront, you can ensure a smooth process and avoid any misunderstandings or disagreements further down the line.

man and woman Discuss Payment Terms

Set Up a Communication Plan

In order to ensure that the translation process goes as smoothly as possible, it is important to set up a communication plan between you and the translator. This includes deciding how often you will communicate and what methods of communication will be used.

You should also discuss any additional services or resources that may be needed during the translation process, such as research materials, reference documents, or other resources.

Monitor Progress

After you have hired a translator and established a communication plan, it is important to monitor progress throughout the project. This includes reviewing samples of the translated document on a regular basis and providing feedback in order to ensure that the translations meet your expectations.

It is also important to communicate any changes or updates that may occur during the translation process in order to avoid any delays or misunderstandings.

Quality Assurance

Once the translations have been completed, it is important to perform a quality assurance check to ensure the accuracy and consistency of the translations. This includes proofreading the translated documents for accuracy and making sure that the correct terminology is used.

It may also be necessary to have a second translator review the translations in order to ensure accuracy and provide additional feedback.

Post-Project Follow Up

Once a translation project is complete, it is important to follow up with the translator and provide feedback. This includes expressing your satisfaction with the translator’s work, as well as any areas that may have needed improvement.

By providing feedback, you can help the translator to continue improving their skills and ensure that future projects run more smoothly.

By following these steps, businesses can make the most of their translation services and establish effective communication with their target audience. With the right translation service, businesses can open up new markets and expand their global reach.

Conclusion

Finding the right translator for your project can be a daunting task. However, following these steps can help to ensure that you find a reliable and experienced translator who is able to deliver high-quality translations at a competitive rate.

This is essential to ensuring that your translations are accurate and consistent with your brand image, and will help you reach new markets and expand your global presence. By taking these steps, businesses can make the most of their translation services and unlock the potential of global markets.

This is the key to making sure your translations are accurate and on point, so it pays to do your research and find the right translator for the job.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Journals

10 Reasons why you Should Use Your PTO

Last Updated on January 17, 2023 By Jason Obrien Leave a Comment

PTO (or paid time off) is a critical part of any company’s benefits package. It provides employees with a much-needed break from their day-to-day job duties and allows them to get away from the office, relax, and recharge. PTO can also be used to travel, volunteer, attend personal events, and more.

While it may be tempting to put PTO off until later in the year, it is important to use it regularly. Here are 10 reasons why you should use your PTO:

Improved Well-Being

Taking time off from work can improve mental and physical health by reducing stress and fatigue. It also allows for more balance between work and leisure activities, which can help reduce burnout and increase productivity when you return to the office.

Ways PTO Improves Well-being:

  • Improved concentration
  • Reduced stress and fatigue
  • Increased creativity

Quality Time with Family and Friends

Scheduling time away from work allows for quality time to be spent with family and friends. Whether it’s a weekend getaway or a day devoted to doing something special together, PTO gives you the opportunity to strengthen relationships and create lasting memories.

When you use your PTO for quality time with family and friends, you can:

  • Spend more time with loved ones
  • Catch up on conversations that have been put off
  • Enjoy activities together as a family or group

Personal Development & Growth

PTO is a great opportunity to invest in yourself. Use it to pursue hobbies and interests, visit a museum or art gallery, attend workshops and lectures, and more. Taking time away from the office to focus on personal growth can help increase motivation, creativity, and productivity when you return.

PTO solutions for Personal Development & Growth:

  • Take a class or workshop
  • Attend an event related to your field
  • Go on an adventure to explore a new place

Travel Opportunities

PTO is the perfect time for travel, whether it’s for business or pleasure. It allows you to get away from the office and explore the world, while also gaining new experiences, learning about different cultures, and making new connections.

Travel Opportunities provided with PTO:

  • Visit family or friends in other cities or countries
  • Take a road trip to explore nearby attractions
  • Attend conferences or other professional events
Travel Opportunities

Increased Job Satisfaction

Having job satisfaction is key to maintaining a work-life balance. Spending some of your PTO to do something you enjoy can make work more enjoyable when you return. It also shows your employer that you value your job and are committed to doing it well.

Ways PTO Increases Job Satisfaction:

  • Take time off to do something fun or relaxing
  • Use vacation days for volunteer opportunities
  • Take a mental health day and practice self-care

Opportunity to Network

Using your PTO to attend industry events or conferences is a great way to network with other professionals in your field. This can open up new career opportunities and increase job satisfaction.

Networking Opportunities with PTO:

  • Attend local networking events
  • Connect with professionals on social media
  • Participate in online or in-person industry events

Improved Productivity

Taking regular time off can help you come back to the office feeling refreshed and ready to work. Being away from the day-to-day stress of your job can also help spark new ideas and give you a fresh perspective on projects.

Ways PTO Improves Productivity:

  • Schedule time off to recharge and refresh
  • Take a mental health day to reduce stress and anxiety
  • Prioritize tasks and set personal goals for the week ahead

Improved Mental Health

Regularly taking time away from work can help reduce stress, anxiety, and depression. It allows you to have time for yourself to relax and unwind, practice self-care, and engage in activities that make you happy.

Ways PTO Improves Mental Health:

  • Take a break from work to do something enjoyable
  • Spend time outdoors or practice mindfulness
  • Connect with family and friends for social support.
mental health

Increased Happiness

Taking a break from work can help improve your mood and increase happiness. Studies have shown that taking regular vacations can reduce the risk of depression and other mental health problems. It can also help improve overall well-being and life satisfaction.

Ways PTO Increases Happiness:

  • Spend time doing activities that you enjoy
  • Take a vacation to explore new places or try something new
  • Learn a new skill or hobby.

Improved Work-Life Balance

Having a healthy work-life balance is essential for long-term success and well-being. Spending time away from work can help reduce stress, increase productivity and boost job satisfaction. It also allows you to have more time to spend with family and friends, engage in hobbies or activities that make you happy, and practice self-care.

Ways PTO Improves Work-Life Balance:

  • Take regular breaks throughout the day to stay focused and productive.
  • Schedule time off in advance to plan ahead.
  • Use vacation days for activities that will improve well-being.

These are just a few of the benefits that can come with taking advantage of your paid time off. Taking regular time away from work allows you to rest, recharge and reconnect with what matters most in life.

It can help improve your physical and mental health, increase job satisfaction, and provide opportunities to network and explore new places. So use your paid time off to prioritize your well-being and create a better work-life balance.

Conclusion

Paid time off is an important benefit that can help improve job satisfaction, productivity, and overall well-being. Taking regular breaks from work can reduce stress, increase happiness, and provide opportunities to network and explore new places. So don’t forget to make the most of your paid time off by taking advantage of all the benefits it has to offer.

Whether you use it to rest, recharge, or explore new opportunities, taking time away from work can help improve your physical and mental health and provide a better work-life balance. Use your PTO to prioritize self-care and create the life you want to live.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management

How a Virtual Mailbox can Declutter Your Life? 15 Ways

Last Updated on January 17, 2023 By Jason Obrien Leave a Comment

A virtual mailbox can help declutter your life in many ways. Managing day-to-day mail and other correspondence is made much easier with a virtual mailbox. It makes it easier to stay organized, track important documents, and save time. Here are some ways how a virtual mailbox can declutter your life:

Digital Access

A virtual mailbox provides you with access to all of your mail online. You can view, manage, and organize all of your mail information from one place.

It also offers secure access to your mail and other documents, so you know it’s safe. There are various virtual mailbox software solutions that provide a secure way to access and manage mail.

So, it could be difficult to choose an ideal mailbox. For this purpose, try to read reviews about virtual mailboxes and select the best one that suits your needs.

For instance, you can search anytime mail box review and learn what actual users say about this mailbox.

Mail Forwarding

A virtual mailbox provides you with the ability to forward mail from your current address to another location. This allows for more flexibility and convenience when it comes to receiving your mail.

Mail forwarding also means you can keep your current address while traveling, so that all of your mail is still delivered to the same place.

Scanning Services

Many virtual mailbox services offer scanning services that allow you to view, download, and store digital copies of your mail. This is an effective way to declutter your physical mailbox and keep track of important documents without having to store them in a physical location.

It also allows you to access important documents from anywhere, anytime.

Storage

Many virtual mailbox services offer storage options so that you can store documents, packages, and other items safely and securely. This helps to free up space in your home or office and makes it easier to keep track of important items.

Virtual mailbox storage is a great way to declutter your life and manage important documents in one place.

Junk Mail Reduction

A virtual mailbox can help reduce the amount of junk mail you receive. By using a virtual mailbox, you can easily manage what types of mail are sent to you and filter out unwanted solicitations.

Virtual mailbox services are usually equipped with advanced filters, so you can keep track of what type of mail is sent to your inbox and block any unwanted solicitations. This helps to reduce clutter and save time.

Automated Reminders

A virtual mailbox service might also offer automated reminders that let you know when important documents or packages need to be signed for or collected. This helps to keep you organized and ensures that important tasks are completed in a timely manner.

Email Notifications

A virtual mailbox service can also send you email notifications when mail is received or sent out. This helps to stay on top of all your correspondence, remind yourself of important tasks, and respond quickly to emails.

man using a laptop

Billing Management

A virtual mailbox makes it easy to manage your bills and other financial documents. You can view, track, and pay bills online with the help of a virtual mailbox.

It also allows you to store documents securely and create notifications for when bills are due.

Security

A virtual mailbox provides an additional layer of security that helps protect you from identity theft and fraud. All activities are monitored closely and sensitive information is kept secure.

This mailbox also helps to protect your privacy by keeping your personal information from being exposed online.

Automation

A virtual mailbox makes it easy to automate repetitive tasks such as sending out thank-you notes or forwarding mail. This simplifies the process and saves time so you can focus on other important tasks.

Paperless Storage

A virtual mailbox helps keep paper clutter to a minimum by enabling you to store your mail digitally. You don’t have to worry about storing paper documents or taking up space in your home with file cabinets and folders.

Improved Organization

A virtual mailbox makes it easier to stay organized. With digital access, you can easily organize and categorize your mail in order to quickly find what you’re looking for. It also makes it simple to keep track of important documents and find them quickly when needed.

Automated Receipts

Have all incoming mail scanned and made available to you as soon as it arrives. Never worry about missing important documents or having them lost in the shuffle.

It also means that you’ll never forget to save receipts or tax documents ever again.

Time Savings

With a virtual mailbox, you don’t have to wait in line at the post office or run around town picking up packages. You can access your mail from anywhere with an internet connection.

Virtual mailbox services make it easy to manage your mail in a fraction of the time.

Document Archive

Store all of your important documents in a secure online archive so you can retrieve them anytime you need them. Virtual mailbox services make it easy to keep all of your documents organized and accessible.

A virtual mailbox can help you stay organized and declutter your life. By using a service like this, you can simplify your mail management and enjoy the convenience of digital access to all of your important correspondence.

These are just a few of the ways how a virtual mailbox can help declutter your life and make it easier to stay organized. If you are looking for a way to simplify managing your mail and other correspondence, consider investing in a virtual mailbox.

Conclusion

A virtual mailbox can help you stay organized, declutter your life, and save time. It provides you with digital access to all of your mail information and allows you to easily track important documents, automate payments, and simplify shipping.

With a virtual mailbox service, managing day-to-day mail is made much easier and more efficient. So, why not give it a try and see how it can improve your life?

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management

4 Payroll Frauds Your Business can’t Afford to Ignore

Last Updated on January 16, 2023 By Jason Obrien Leave a Comment

It is almost inevitable, given that large amounts of money are regularly being received and transferred out, that payroll systems and processes can be subject to potentially fraudulent activity, both from within an organisation and from without. It can be perpetrated both by employees and employers alike, as well as outsiders with no connection to an organisation.

The way in which payroll processes are set up and organised, plus the fact that a large number of people can have access to payroll systems (especially in enterprises with large numbers of employees and/or contractors based in multiple jurisdictions around the world), are also significant contributing factors as to why payroll is regularly subject to attempted fraud.

In particular, this is why global payroll, i.e., when you engage and pay people in multiple locations simultaneously, can be susceptible to fraud, simply through the fact that it is often very decentralised, with teams in different locations operating without appropriate oversight or auditing. Not having up-to-date fraud prevention and detection systems in place can also encourage fraud both from within and without.

This can be exacerbated in cases where payroll processes are carried out to a large extent manually or using basic payroll software packages. Paper documents can be easily forged, stolen, altered, or lost, for instance, while it can be challenging to control access to physical or unsecured documents and data, especially in small in-house teams located away from central admin services.

Automated payroll services can, however, go a long way toward mitigating such risks.

How is Payroll Fraud Committed?

Essentially, there are four key areas where frictions are most apparent, and where organisations are most vulnerable to payroll fraud: onboarding; identity theft; payments; and payroll. However, you can reduce these risks by using payroll providers with high-standard data security.

Onboarding

One of the most common forms of payroll fraud, which is committed by employers in order to take advantage of workers, occurs during the onboarding process.

In this scenario, employees are not classified correctly and so may not receive the appropriate rate of pay and workplace benefits to which they are entitled, as well as not paying tax, superannuation, and other deductions correctly. This can have a long-term impact on employees, who because of not making sufficient contributions to social security, for instance (through no fault of their own), have difficulties claiming a pension or other state benefits later in life.

This type of fraud is often committed by employers as a means of saving money on payroll taxes and employee benefits and can go undetected for some time. It is a serious offence in most jurisdictions, and so if uncovered can lead to significant penalties.

Identity Theft

Employers too can be victims of payroll fraud in a variety of different ways, often involving a form of phishing or identity theft.

A common way in this sort of payroll fraud is perpetrated through the stealing (via a hack or data leak) of an employee’s personal information. A fake email, that for all intents and purposes looks as though it is coming from an employee, is then sent to the payroll department notifying it of a change in bank details and asking for subsequent pay checks to be credited to this new, bogus account. This enables the hacker to steal an employee’s wages, and then withdraw the money from the account before the fraud is detected.

Payroll managers can take some relatively simple steps to prevent this type of fraud from being successful. In the first place, all bank accounts should be validated when a new employee is taken on. Then, it should ideally be company policy that an employee’s banking details cannot be changed by HR or finance teams unless any requested change has been validated by the employee in person. In the case of remote, hybrid, or foreign workers, this should be done using teleconferencing software.

Payments

Payroll fraud can also be perpetrated against a company by its own employees, very often by those working in HR or payroll departments. Most commonly this is through the creation of what are known as ghost employees.

A ghost employee can be a non-existent person who has been created and then added to the company’s payroll, or alternatively take the form of a former employee who has left the organisation but who has been intentionally kept on the payroll as a means of defrauding the company. In both instances, the wages of the ghost employee will in fact usually be claimed by the corrupt member of staff who has falsified the records.

payment method

This type of payroll fraud can generally be gotten away with more easily in organisations that do not use a payroll provider but instead manage things in-house. It is also more likely to occur in businesses where payroll is largely managed manually with a generic software package, or in enterprises where the workforce is remote and located around the globe, making accurate record keeping more difficult.

A regular payroll audit (at least every 12 months), where employee records are reviewed and cross referenced with HR, is one of the simplest and most effective ways of preventing ghost employee fraud.

Payroll

Another similar form of payroll fraud is when the actual amount a worker is paid is deliberately altered and increased. This may be done so that the person who falsifies the records is the direct beneficiary, or they may alter records on behalf of someone else.

In this scenario, it can be that the rate of pay recorded in the system is altered so that a worker is being paid more per hour than they should be, or are paid for hours they didn’t in fact work. It might also be the case that they are falsely awarded bonuses, or receive commissions to which they are not entitled. The fraud could also take the form of deductions not being correctly applied.

In some cases, a worker could add extra unworked hours on the timesheet of their own accord without any collusion from payroll staff, or they can indulge in what is widely known as ‘buddy punching’ where a colleague punches in on the time clock on behalf of another employee who is not actually present at work.

Payroll auditing is the most effective and efficient way of discovering these and similar payroll frauds. This is because a key task in any such audit is to review the accuracy of all employee records, especially rates of pay. Any changes should have been recorded when they occurred and why, so anomalies between what a worker is receiving and what they are actually entitled to can be easily spotted.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management

ASC 842: How the New Lease Accounting Standard will Change your Business Accounting

Last Updated on January 12, 2023 By Jason Obrien Leave a Comment

If your business uses a lot of leases, whether leasing to other businesses or individuals or leasing items for yourself, the new ASC 842 update will change the way you account for them. Some businesses only use leases to a lesser extent as either a lessor or a lessee but others have built their entire business on the back of them. Equipment leasing and finance estimate that approximately 79% of USA businesses use some form of lease arrangement. In short, it’s entirely likely that ASC 842 will directly impact your business accounting.

ASC 842: What is the New Lease Accounting Guideline?

ASC 842 is a new accounting standard/guideline issued by the FASB (financial accounting standards board) and it, in essence, governs how companies (entities) record the financial impact of all of their lease agreements. There are a few changes to lease accounting treatment with this guideline. The main change that most businesses will notice is that if you report under US GAAP (so all USA based businesses), then ASC 842 requires you to record pretty much all of the leases to the balance sheet. Before, there were more allowable off balance sheet transactions. Of course, with leases on your balance sheet, your business will be far more transparent to those wanting to look through your accounts.

Why has ASC 842 been Rolled Out?

Accounting standard ASC 842 has been rolled out to ensure a better level of transparency for businesses in the USA. Now that the majority of leases are recorded on the balance sheet, auditors and those interested can easily and immediately get a good view of where the business is at and what kind of agreements it has in place. Some businesses might not like this, but remember, they’re all in the same boat. If you’re not too happy about your business being more transparent, the same will happen to your competitors too.

business-men-using-calculator-and-write-on-papers

How can you and your Business Stay Compliant

To stay compliant with ASC 842 you simply have to use those guidelines when accounting for your lease arrangements. There is lease accounting software out there that can help you in your pursuit of better financial health. You can also hire an accountant who is well versed in lease accounting arrangements. It’s important to keep up to date with these accounting changes so that you and your business can pivot and adapt to the newest guidelines as quickly as possible. Usually, accounting bodies often give more than enough time to make sure you can move from one method of treatment to another.

How can you be sure to Stay Up to Date with Further Lease Accounting Changes?

Business owners are often quite busy and unable to spend too much time focusing on accounting updates. Here are some quick tips to stay in the know:

  • Follow an accounting or finance website that is reputable and often posts updates.
  • Speak to your accountant often and check up on whether or not things are going well.
  • Keep an eye on industry body websites like FASB
  • Follow accounting journals and keep an eye on the headline changes

How much you keep up to date entirely depends on the time available. Again, you usually get a good run time before the changes kick in but it’s always worth checking every now and then just to make sure you’ve got the treatment right.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Accounting & Taxation

8 Tips for Creating your Digital Business Card

Last Updated on January 10, 2023 By Jason Obrien Leave a Comment

Business cards are considered a marketing tool businesses use to represent their brands. It contains contact information, including name, title, email, website, address, and phone number. Moreover, it is the fastest way to communicate with others, which boosts sales and gives life to the brand.

Due to the digital age and several technological advancements, it is now easier to create and share contact information while becoming paperless. With digital business cards, businesses can build and expand meaningful connections.

In this article, you can learn helpful tips for creating your contactless business card. Here’s how:

Choose the Appropriate Software

When creating your digital business card, choose the right software to help you create high-quality designs. You can start by identifying if you can easily edit photos and add text. Moreover, you can check the intelligent feature offerings of the different platforms, including QR codes, document scanners, email signatures, and connectivity features. Doing this will enable you to make a contactless business card that can stand out.

Show A Professional Image

In demonstrating a positive image, you can add a professional profile. Here’s a guide on how you can make a professional profile.

  • Start with a smile.
  • Show your head to the waist.
  • Ensure your eyes are unobstructed.
  • Maintain an asymmetrical composition when doing a pose.
  • Flaunt your jawline.
  • Dress appropriately using formal clothing.
  • Take a click in a light background and improve lighting conditions.

Following these will help you to look more professional, confident, and approachable.

Add the Essential and Clear Contact Details

When providing necessary details, it should be concise. You can list them in a simple typeface. To have a good common ground, you must portray a better image of yourself by adequately presenting the contact details.

You must ensure that your name and title will stand out along with other essential information. For the readers to quickly identify you, it is vital to place your name and title at the center. Additionally, it would be best if you made it bigger and bolder.

Make It Simple But Creative

Everything starts with a suitable template. The chosen template will guide the overall design of your digital business card that will fit your brand image. After selecting the template, you can now decide on the following:

Background

When choosing the background, remember that it must contrast with the rest of your digital business card. Let’s say you want a dark design; therefore, you must pick a light background to complement it, like white or pale. However, if you want to avoid having a simple set, you can always choose patterns, images, or videos as a background.

Color

After choosing the background, it is time to pick the right colors. You should choose a simple color scheme or color palette depending on the emotions you want to instill in the reader. Furthermore, you should select up to two to three colors. For instance, if you want to excite the readers’ minds, you can choose the colors red and orange. If you’re going to demonstrate a calming vibe, you should do blue or green.

In picking colors, you should learn how to consider the effects of some hues and use them to your advantage. Always select colors and designs according to your brand identity.

Font

The font will set the overall tone of your digital business card. You can use serif or sans serif if you want something modern or sleeker. In addition, the fonts should be legible. Legible means that the text should be a manageable length and simple. Always choose fonts that are simple and easy to read.

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All these are crucial, and deciding the best design will make you stand out. You can also incorporate clean lines and straight edges to maintain its simplicity further. Most importantly, it would help if you avoided too flashy designs.

Share your Links Prominently

If you have a professional domain, you should include it. You can use hyperlinks or distinctive buttons and icons as alternatives. Also, you can add your social media profiles if you prefer.

Draw Attention to Important Projects

Since a digital business card is one of your marketing tools, you can use it to draw attention and market your brand. You can select your most relevant resources to share with the readers. To do this, you should determine what each card-designing service accommodates and choose the appropriate one that will enable you to add files or documents by clicking a link.

Adding files or documents must be done flawlessly. Let’s say you are writing and publishing eBooks; you can put it in your digital business card for the reader to check and use as their reference.

Provide Key Affiliates and Reviews

To market your brand, you can decide to add your collaborators, especially if they are well-known personalities. Adding their names and hyperlink will help to avoid saying too much. And to make your card more sophisticated and to save space, lining up their logos will do.

It is also vital to include reviews, especially positive ones. That way, you can impress the readers. And to instill positive feelings towards you and your brand.

Use Clear Calls to Action

You should include a call to action like a newsletter and an advert. For instance, along with your projects, you can add a link or a button for the readers to access a website or directly to your active social media networking account. In making explicit calls to action, you must ensure that it can be easy to understand and navigate. Remember only to include little but essential information so that it will be easier for the reader to understand.

Conclusion

Creating a digital business card should be done accordingly. When a digital business card is well-crafted and well-designed, you can make a great impression and create a credible and professional image. Both traditional and digital business cards are highly personal forms of marketing; therefore, you should follow the tips on making them. By doing so, you clearly and fully introduce yourself and your brand identity to others.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management

Why you Need Business Insurance in 2023

Last Updated on January 6, 2023 By Jason Obrien Leave a Comment

In 2023, your business could be exposed to risks that could weaken its stability. Property damage is one of the issues you might run into as a business owner. If such damage gives rise to formal lawsuits or any third-party claims, you’d require liability insurance to safeguard the financial resources of your business.

On the other hand, if your employees inadvertently injure themselves while performing their duties, they may be unable to work and earn a living. As an employer, you’ll be liable for supporting them while they’re taking care of work-related injuries.

Your business may continue to face a serious threat from cyberattacks in 2023, especially if you don’t implement adequate security measures. Risks still exist for sensitive information like credit card numbers and other business information. A data breach could cost a lot of money, and your business could suffer.

You can protect your company against these threats by getting the right insurance plan. You need to ensure that your business is covered against any potential losses or damage that may happen.

That said, here are some more reasons why you need business insurance in 2023:

You Must Prepare for Cyber Disasters

Cybersecurity is becoming an increasingly important factor for most businesses. Cyber-attacks like malware and hacking can happen daily and affect any company, big or small. The cost of cyberattacks can be devastating for a small business owner.

An attack could result in a damaged reputation, financial losses, and low productivity, especially if you cannot access customer records or other crucial information.

Businesses that experience a cyberattack may be liable for damages caused by the breach if they’re negligent in protecting confidential data. This may include trade secrets or personal information like credit cards or social security numbers.

To protect your business from cyber threats, it’s important to have adequate coverage from companies like Bruce Insurance. They can help you recover from a cybersecurity breach and mitigate losses related to the cyber incident.

You must Protect your Brand Against Lawsuits

Whether it’s a customer injured by a product or a disgruntled team member claiming wrongful termination, lawsuits are always possible in any industry. If sued, this can affect your reputation as a business owner, ultimately damaging your brand.

An excellent way to ensure that your company doesn’t get sued is by getting commercial liability insurance coverage for businesses (CLI). This policy protects you against financial losses resulting from the services you provide or sales of your goods.

You must Protect your Assets

You don’t want to deal with the hassle of replacing stolen items or paying off damages from a robbery. If this incident happens, you might have to close your business temporarily, which can cause you to lose money and harm your reputation.

You should consider getting an optional crime coverage package as part of your business insurance policy. This asset protection strategy can save you from losses due to robbery, burglary, or vandalism. You’ll also be covered if someone gets injured on your property while conducting their duties at work.

You have to Safeguard your Employees

Employees who become sick or injured while working for your company may be eligible for health care benefits under the Affordable Care Act (ACA). Under the ACA, private companies with more than fifty full-time employees must offer these benefits to all full-time employees and their dependents.

men-holding-pen-and-hand-on-paper

Business insurance covers medical expenses when employees get sick or injured at work. Without it, there would be no way to pay for these costs if they came up unexpectedly. This includes physical therapy and doctor visits, as well as prescription medications. In most states, it covers lost wages and other expenses such as training and retraining if needed.

You have to Protect your Income Stream

Organizations need to make money to survive. If your income stream is interrupted or stopped, you could have trouble paying your employees, suppliers, or creditors. This can create an environment where employees are less likely to work hard for the company.

Business insurance helps protect your income by providing coverage for these company disruptions. For instance, if a fire burns down your building, this business insurance will pay for rebuilding it. This way, you can continue to operate while the building is being rebuilt.

You have to Comply with the Laws

Businesses must adhere to regulations to operate effectively. Non-compliance may cause your business to shut down or incur heavy fines, which will be difficult for you and your employees.

Business insurance becomes imperative for any company that wants to continue operating. For instance, banks and financial institutions are required by law to have insurance coverage in place to protect their assets. This includes health care benefits for employees and workman’s compensation coverage for accidents that may occur on the job site during construction projects.

Key Takeaway

This 2023, your company might be prone to threats like cybercrimes, property damage, and team member lawsuits. If you ever experience these risks, you might lose the trust of your consumers, staff, and investors. But if you have business insurance, you can protect your company from any financial loss.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Insurance

3 Simple Steps to learn Online Trading

Last Updated on December 24, 2022 By Jason Obrien Leave a Comment

Trading Forex, stocks, or cryptos requires very specific knowledge and discipline. To be a successful trader must use trustworthy and credible sources for trading portfolios. As we all know, nowadays, it is not simple to find reliable learning resources because of clickbait and misinformation. In this article, we will try to present important sources which are considered user-oriented and trustworthy for learning online trading.

So this will be our main focus during the article where we will divide the learning process into three main steps. After following these steps, you will be ready to trade and make money online without facing common challenges such as lack of knowledge or misunderstanding.

Step One: Introduction to the Online Trading World

First of all, you need a good introduction to online Forex or crypto trading and its specifics. There are some steps to go through before you start FX or any other market trading with real money. You need to know how the financial markets are operating, who are participants, and how the trading world works behind the scenes.

Forex marketing

In this step, you also learn about fundamental and technical analysis. All professional traders use both analysis types. They combine macroeconomic events and important news. Then it is needed to analyze price charts with indicators and other technical analysis tools to see the best entry points on price charts.

Entry points are desired asset prices where you can buy or short-sell them. Acquiring this basic knowledge will lead to step 2 where you will need to understand currency pair specifics and fundamental and technical analysis in more detail. You will analyze price charts and use the most popular trading platforms. You can use some trustworthy online Forex learning sources like LearnFX.com to learn more about online trading.

Step Two: Trading Platforms and Market Analysis

After understanding how the Forex market works it is essential to equip yourself with proper technical analysis tools. Good charting software or a full web trading platform will achieve this goal. There are two types of analysis tools as mentioned above: technical and fundamental.

Fundamentals are macroeconomic events, important news, and overall economic indicators. But fundamentals are only the first part of the equation before opening a trade. The second type of analysis is called technical analysis and it is crucial to understand how to use it. You will need a trading platform like MetaTrader4, MT5, or Tradingview to see price charts and use indicators.

Indicators are mathematical algorithms that constantly monitor the market live data and give various signals about its conditions. Remember that indicators are key in measuring the pulse of the market. To always be competent on what’s happening on the macroeconomic scale you will need to monitor the economic calendar for important news events. After you get the fundamentals you can add technical analysis to it and make your predictions even better.

Step Three: Demo Trading and Testing the Waters

After you have the fundamentals and know the basics of technical analysis and trading platform software, it is time to open your first trade on a demo account and test your newly acquired abilities. Demo trading refers to trading the market with fake funds. Sometimes it’s called paper trading. It means you have an account with your preferred broker and have fake money on your account.

Trading

When you open your trade it doesn’t go to real exchange but software makes real-time simulation of the market. It copies real-time price movements and enables you to feel like you are trading with a real account. You can open buy and sell orders to see how it works. With demo trading, you are trading real-time markets just without real risks.

There is a popular web-based trading platform with its programming language “pinescript” called Tradingview. It is a free charting platform and offers some advanced functionality with the option for paper trading. With paid plans, you can add as many indicators and open as many charts as you like, but for beginners, the free option is better. You can use TradingView as an alternative to MetaTrader. Just search for the desired currency pair or any asset and then open the chart, there you can have a watchlist of your favorite trading instruments and monitor every detail of each trade.

We strongly recommend practicing trading on a demo account at least for 3 months before going for real money. Some experts and professional Forex masterclasses also recommend trading on a demo account for 6 months. Don’t take these recommendations lightly. They can save you lots of money. Also, Keeping a record of your trading history is a very good way to learn from mistakes and improve your trading skills. Demo trading removes the emotion of losing real money. This is good for strong trading discipline and emotional intelligence which are the main skills all successful traders possess.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Investment & Money

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