Monthly Archives: June 2019

 

Thank you for your prayers and follow up calls and emails!  Sherelene and I are doing well.  If it were not for our faith and your prayers I would hate to think how much more difficult this would be!  When Jim Haverstock lost his wife Sue, I searched for every resource I could find to encourage him and help him through his grief.  Little would I know that what I learned over the past almost two years with Jim would help me so much with the loss of Wes.

 

One thing that I want to share with all of you is a series of books that I got for Jim and that I am reading now, that have helped me so much!  The book above, God and the Afterlife, is the result fo major study undertaken by Dr. Jeffrey Long of over 4,000 interviews with people who have had Near Death Expriences.  The resulting study paints and incredible picture of what we as believers have in store for us when we leave these earthly bodies.

 

So why am I sharing this with you?  Well it’s a good news, bad news story.  The bad news is that every one of us will someday die, and before that, we will loose many loved ones and friends to physical death.  The good news is that our spirit lives on, and that is why this is so important, what we do now will determine where our spirits are after our physical death.

 

I would encourage to get and read these books, it will give you incredible hope for your future.  It will also give you a real peace for those that you loose now.  After you read this book you will want more and I have two addiitonal books I can highly rcommend, all available on Amazon;  Life After Life  Dr.Raymond Moody. and Imagine Heaven by John Burke.  All of these books are a must read for believers!

 

These books have not only given me a real peace and excitement for Wes, but they have given me a new prescription for how to live the rest of my life!  In the vast majority of these NDEs the person comes back with one fundimental principle from Jesus, “Have you loved others with My love.”

 

You can rest assured that is my new mandate, for as long as God gives me on this earth, is to hold true to that one request from Him!

 

Blessings,

 

the pilgrim

See our American Express® Business Gold Card Review for more information. See our American Express Business Platinum Card Review for more information. See our American Express Blue Business Cash Card Review for more information. See our Chase Ink Business Best Small Business Credit Cards Preferred Card Review for more information. See our Chase Ink Business Cash Card Review for more information. See our Chase Ink Business Unlimited Card Review for more information. You can score up to $3,000 cash, which will be released at any moment.

Business credit card applications are similar to personal credit card applications. Even if you provide an EIN, most creditors will ask for your social security number as part of your personal guarantee. Remember, this makes you personally liable for your business’s debts, which gives you even more reason to be cautious with your credit card spending. Due to personal guarantees, creditors could go after your personal assets if you default on the loan.

Since you typically need to sign on as the personal guarantor of the account, the card issuer will check your personal credit reports. The issuer can do this with just your EIN, although if that’s all you input they may ask you to submit your SSN afterward. There are a few important differences between business and personal cards. Before getting a business card, educate yourself on what to expect. Just like when it comes to airline cards, the best hotel business card for you will depend on where you like to stay.

These bonus categories include eligible U.S. purchases on shipping, wireless telephone services, advertising in select media, office supplies and gas stations. If you regularly fly with Delta for business, you need to take a closer look at the American Express Delta SkyMiles Gold Business Card. If your Delta travel is typically reserved for personal escapes, check out the consumer version of this card. Redemption terms are subject to change at Delta’s sole discretion. You can redeem accumulated Bonvoy points for free nights at participating Marriott Bonvoy hotels.

Starting A Business Means Taking Risks, Making Changes And Building From The Ground Up Every Small

Gather application information — You’ll need either your Employer Identification Number or your Social Security number to apply for a business credit card. You’ll also need to provide details, such as legal business name, entity type, annual business income, business address, phone number and other important items. Cardholders Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. You can use the Membership Rewards points in all the typical ways, including transferring to travel partners.

A) Although it is perfectly legal and acceptable to use your personal card for business, you do have track your purchases carefully and make sure you’re not mixing personal and business charges. Although the credit card companies likely won’t care, the IRS will if you get audited.

They offer one business credit card that is simple with a transparent pricing structure. They have a single variable of 13% APR for all customers and do not charge adjusting entries any annual fees. NatWest is a financial banking provider that offers two types of business credit cards – Business credit card and Business Plus credit card.

The best business credit cards have a strong mix of redemption possibilities with few or no restrictions. With the American Express Blue Business Cash™ Card , account owners earn 2% cash back on all eligible purchases, up to $50,000 per calendar year. They don’t have to worry about activating categories or calculate where their cash back is going . They also don’t have to worry about an annual fee (See Rates & Fees). The American Express Blue Business Cash™ Card might be a better option if you want simplicity. You don’t have to worry about activating categories or try to figure out what rewards your purchases earn.

CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application. Cardholders earn a competitive 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com and 1X points on all other purchases. Points redeemed for flights through Amex Travel get 35% points back, up to 500,000 bonus points per calendar year. The Ink Business Preferred Credit Card provides helpful travel perks, such as no foreign transaction fees, auto rental collision damage waiver and trip cancellation/trip interruption insurance.

Top Partner Offers

Or you may get a detailed annual report for use in preparing your taxes. pay you the same rewards on every purchase, regardless of what you buy or where. If you want simplicity, or if your business’s expenses tend to run the gamut without any particular category predominating, then a flat-rate card may be best for you.

With all that’s involved in starting a business, the rewards you’ll earn from credit cards probably won’t be your first concern. Over time, the value of card rewards and perks can provide a nice bonus for yourself or to reinvest back into your business. Assuming that track record is positive, it will help you secure even-better cards along with further forms of credit, such as small business loans. Business charge cards are select cards issued by American Express that don’t allow balances to be carried from month to month. Instead, each month’s charges be paid in full on or before the statement due date. Business charge cards also lack the preset spending limits of credit cards, not their APRs or late fees . The key difference between business travel credit cards and business cash back credit cards is the type of “currency” they earn.

Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. Other benefits include trip cancellation and interruption insurance and an auto collision damage waiver when traveling for business purposes. The cellphone insurance against theft or damage is another extremely valuable benefit that can pay for the card’s annual fee many times over if you damage your phone and have an eligible claim.

• That’s because carrying a balance on your card means your business will have to pay costly interest fees.
• A few business cards, however, are designed for large corporations with large revenue streams.
• This no annual fee business credit card is a great option for owners who spend a lot in its bonus cash back categories, namely on internet, cable and phone services, at office supply stores, and on gas and dining.
• This list represents our top rated cards across a number of categories, all driven by our rating methodology, comprehensive card database and proprietary points valuation models.
• It’s one of the more opaque aspects of the credit card industry, and you might not get an instant number despite getting instant approval for a card that putatively offers this feature.

A personal guarantee stating that you’re personally willing to assume liability for any debt your business incurs. This is required by most business credit cards, with a few exceptions.

How Cardholders Can Redeem Their Rewards

Their business credit card offers up to 56 days interest-free credit on purchases and a representative variable APR of 24.9%. They will provide you with fully itemised billing so that you can track your expenditure better. American Express is an international recognised card brand that offers businesses in the UK a selection of business charge cards. The Basic bookkeeping Business Charge Card has no annual fee and no pre-set spending limit, but its purchasing capacity will evolve based on your needs and use. Santander is a financial banking provider who offers a business credit card to small to medium-sized businesses. They offer a Business Cashback Credit Card to businesses with up to two directors, owners or partners.

A number of cards offer a lower interest rate, often 0%, when you first open the account. This can be of great benefit if you have a major business-related purchase you’re looking to finance. When you’re just getting a business off the ground, you’ll probably have to rely on your personal credit to open a small-business credit card or obtain a loan.

This means you can purchase those high-price items while still earning rewards. You also get up to $200 airline fee credit at one qualifying airline annually for baggage fees and other incidentals charged by the airline to your Business Platinum Card. Fee credit for Global Entry or TSA PreCheck is also included, as well as the ability to get up to $200 in statement credits annually for U.S. No matter what type of business you own or how much you spend each month, you should add a credit card to your company finances—you can thank us later. As a business owner or entrepreneur, you have a lot of things to worry about, and maximizing credit card rewards may not be at the top of your priorities. However, if you still want to maximize your rewards, simply consider the Capital One Spark Cash for Business credit card. Having complex programs, transferring points, and tracking a bunch of business categories is not for everybody.

increase of 1% in business card usewas associated with approximately 17,000 new small business jobs. You’ll have some choices about the information you submit when applying for a business card. You may need to enter both your Employer Identification Number and your Social Security number.

Can A Personal Credit Card Be Used For A Business?

The Spark Miles for Business is a great option if you want choices in how you redeem your miles. You can transfer them to more than 10 airline partners or you can use miles to “wipe” your business’ travel expenses from your credit card statement. So if you don’t want to be locked into just one way to use your rewards, this card could make sense.

Higher reward rates are available on other cards, and if you spend enough, you might come out ahead on those cards even after paying an annual fee. Redeem points for a statement credit to offset travel and dining-related purchases, travel with no blackout dates at the Bank of America Travel Center, cash bookkeeping back or gift cards. (You get 5 miles per dollar on hotels and rental cars booked through Capital One Travel.) Miles can be redeemed for any travel expense — no blackout dates or restrictions — at a rate of 1 cent apiece. Receive 1 Free Night Award every year after your Card account anniversary.

So, if building your credit score is a concern , use this card as a supplementary tool to your traditional, unsecured business credit card. But that also means the Bento can’t damage your credit score, and there’s no credit check required to apply. This card’s redemption capabilities are fairly limited—really, you can only redeem your points to earn gift cards (including a Lowe’s gift card). But Lowes devotees have very little to lose by signing up for and responsibly using this card, since it carries no annual fee. Typically, corporate cards have lower risk to you as the business owner because they require no personal guarantee. Qualification terms are instead based on a company’s financial track record and proven ability to pay back funds. Right now, there are some impressive names in the corporate card game; here are the four top corporate cards for startups, none of which charge fees.

Card Comparison: Chase Sapphire Preferred Vs British Airways Credit Card

When you sign up and spend at least $3,000 within the first 3 months of membership, you get $200 bonus cash. From day one, all purchases earn an unlimited 1.5% cash back, with no caps or restrictions. You can redeem accumulated cash back for general statement credits or mailed checks in any amount. All cardholders in good standing enjoy complimentary Hilton Honors Gold status, whose benefits include an 80% bonus on all base point earnings and complimentary room upgrades where available. When you spend $40,000 on eligible purchases with your card in a calendar year, you’ll earn Hilton Honors Diamond status through the end of the following calendar year.

When using a PERT chart, the relationship between the task at hand and the time allotted for said task may not be as immediately obvious – as say – with a Gantt chart. For this reason, above all, the PERT chart can be a real pain in the neck for someone who is not familiar with the PERT chart. PERT charts also tend to underestimate actual risks inherent to https://business-accounting.net/ your project. Not a good thing when you’re juggling contract worth hundreds of thousands of dollars or more. A PERT chart explicitly defines and makes visible dependencies between the WBS elements. PERT encourages the identification of the project’s critical path. PERT encourages the identification of early and late start, and slack for each activity.

Since there are no activities that come after f or g, it is recommended to connect them to a node labeled finish. A Gantt chart created using Microsoft Project . The most complete project management glossary for professional. As much as Gantt charts have benefits to project management, they are limited.

Interpreting Pert Charts

To create an AON diagram, it is recommended to start with a node named start. Then you draw each activity that does not have a predecessor activity and connect them with an arrow from start to each node. Next, since both c and d list a as a predecessor activity, their nodes are drawn with arrows coming from a. Activity f has d as a predecessor activity, so an arrow is drawn connecting the activities.

• In project management, a critical path is the sequence of project network activities which add up to the longest overall duration, regardless if that longest duration has float or not.
• It is aimed to reduce the time and cost of the project.
• This determines the shortest time possible to complete the project.
• The difference between a PERT and Gantt chart is that Gantt charts present tasks.

The program evaluation and review technique enables the project manager to schedule the project very easily. It is mainly active in the case of a large project. Program Evaluation and Review Technique is a project network analysis technique used to plan and control large construction projects. One is also forced to decide upon the extent of splitting of the project into smaller activities and to establish logical relationship between different activities.

Different Ways To Create Project Timeline Charts

A completed network diagram created using Microsoft Visio. A network diagram created using Microsoft Project . A network diagram can be created by hand or by using diagram QuickBooks software. There are two types of network diagrams, activity on arrow and activity on node . Activity on node diagrams are generally easier to create and interpret.

The main reason that PERT may provide inaccurate information about the project completion time is due to this schedule uncertainty. This inaccuracy may be large enough to render such estimates advantages of pert as not helpful. PERT provides for potentially reduced project duration due to better understanding of dependencies leading to improved overlapping of activities and tasks where feasible.

Simple Program Evaluation And Review Technique Pert Сhart Templates And Examples

PERT stands for Program Evaluation and Review Technique. A PERT chart illustrates a project as a network diagram. The U.S. Navy created this tool in the 1950s as they developed the Polaris missile (and time was of the essence—this was during the Cold War, after all). A normal balance what-if analysis identifies possibilities and uncertainties related to project activities, which is read from the formation of critical paths. The PERT method shows the critical path in a clearer manner. The critical path is the path whose activities cannot be delayed.

A PERT chart is a project management multipurpose tool that allows getting a graphical representation of a project timeline. During project execution, however, a real-life project will never execute exactly as it was planned due to uncertainty. This can be due to ambiguity resulting from subjective estimates that are prone to human errors or can be the result of variability arising from unexpected events or risks.

Both PERT and Gantt charts simplify the project management process to increase efficiencies and see the entire project. Whether you decide to use a PERT chart to plan your project or a Gantt chart to track and manage progress, consider using both strategically to organize and implement your project. Find out more about using Gantt charts for project management. See a more detailed tutorial advantages of pert on how to create and use PERT charts for project management. Find the longest path based on the time estimations you have entered. Remember that you’re not looking for the path with the most activities—you’re looking for the path with the activities that will take the longest. Add together the time it takes for each activity together and you’ll know how long the entire project should take.

It’s up to you to make a choice and define. Using the charts, project managers can evaluate and analyze time and resources required for a project. PERT charts’ advantages are evident, but managers should also pay attention to some drawbacks that can be an obstacle for the project realization. In this ledger account PERT chart maker, you can find the full set of features and design options to implement in your tasks. It works on Windows, Mac, Android or iOS and allows using dozens of PERT charts templates for common tasks. You can choose the example that is most similar to your project and customize it.

Working Stress Method (wsm) And Limit State Method (lsm)

Under this approach, businesses find the estimated value of bad debts by calculating bad debts as a percentage of the accounts receivable balance. You only have to record bad debt expenses if you use accrual accounting principles. Bad debts are still bad if you use cash accounting principles, but because you never recorded the bad debt as revenue in the first place, there’s no income to “reverse” using a bad debt expense transaction. A bad debt expense is a financial transaction that you record in your books to account for any bad debts your business has given up on collecting. Prepare an adjusting entry to recognize uncollectible accounts expense and adjust the balance in allowance for doubtful accounts account to the required amount. With this method, you would assign each customer a risk score about the likelihood of them leaving debts unpaid.

Once the percentage is determined, it is multiplied by the total credit sales of the business to determine bad debt expense. The Certified Public Accountant percentage of sales of estimating bad debts involves determining the percentage of total credit sales that is uncollectible.

Provision For Doubtful Accounts

The past experience with the customer and the anticipated credit policy plays a role in determining the percentage. The historical records indicate an average 5% of total accounts receivable become uncollectible.

The allowance for doubtful accounts is a contra account that records the percentage of receivables expected to be uncollectible. allowance for doubtful accounts t chart For example, if 3% of your sales were uncollectible, set aside 3% of your sales in your ADA account.

Gaap Rules For Writing Off Accounts Receivable

If your customer later pays you for the debt, you must account for the money you receive. The exact method you use to account for the recovery of a bad debt depends on the structure of your chart of accounts and the steps you took https://simple-accounting.org/ to write off the receivable. For example, for an accounting period, a business reported net credit sales of $50,000. Using the percentage of sales method, they estimated that 5% of their credit sales would be uncollectible.

• This total or overall estimated uncollectible amount represents the required balance in allowance for doubtful accounts account at the end of the period.
• The estimated uncollectible amounts for all age groups are separately calculated and added together to find the total or overall estimated uncollectible amount.
• The estimated uncollectible percentage of each age group is applied to the total dollar amount of accounts receivable in that group to obtain an estimated uncollectible amount of the group.
• This percentage is usually different for each age group and is estimated on the basis of past experience and current economic conditions of the areas where company conducts its operations.

Customers with a higher risk of defaulting on their credit will receive a higher score, allowing you to predict the allowance for doubtful accounts. You should review the balance ledger account in the allowance for doubtful accounts as part of the month-end closing process, to ensure that the balance is reasonable in comparison to the latest bad debt forecast.

Balance Sheet Reporting Bad Debt Write Off

Say you have a total of $70,000 in accounts receivable, your allowance for doubtful accounts would be $2,100 ($70,000 X 3%). A reserve for doubtful debts can not only help offset the loss you incur from bad debts, but it also can give you valuable insight over time. For example, cash flow your ADA could show you how effectively your company is managing credit it extends to customers. The Allowance Method of accounting for bad debt is a more sophisticated approach, that does a better job of matching bad debt expense to the sales in each accounting period.

For companies having minimal bad debt activity, a quarterly update may be sufficient. You can also evaluate the reasonableness of an allowance for doubtful accounts by comparing it to the total amount allowance for doubtful accounts t chart of seriously overdue accounts receivable, which are presumably not going to be collected. If the allowance is less than the amount of these overdue receivables, the allowance is probably insufficient.

The Following Transactions Were Completed By Irvine Company

Review the largest accounts receivable that make up 80% of the total receivable balance, and estimate which specific customers are most likely to default. Then use the preceding historical percentage method for the remaining smaller accounts. This method works best if there are a small number of large account balances.