Internet Marketing - Moneysource1

How to Maximize Your Digital Marketing Channel Mix

Home Business Magazine Online

Digital marketing is vital for your modern business. It allows you to reach out to your target customers without paid ads. Online channels like email, website, social media, search engine optimization (SEO), and podcasts help you introduce your brand to online users. With a digital marketing channel mix, you might generate more sales and nurture your relationships with your loyal clients.

Combined effectively, these digital platforms will help you gain a competitive edge and achieve a higher market share. In turn, your marketing campaigns will be able to reach a higher engagement rate, which might make you the leading brand in your industry.

When maximizing your digital marketing channel mix, you should follow these five practices:

1. Mapping the Customer Journey

A customer journey map provides valuable information about your target audience’s experiences and preferences. This visual storyline guides you when assessing which promotional campaigns are gaining the most traction so that they are reusable for future initiatives. Aside from that, you can use these insights when developing better product features. This ensures you stay ahead of the competition while satisfying the demands of your customers.

When creating a customer journey map, you have to work with digital marketing experts in Australia to ensure that you are tracking the right online users. These professionals will help you develop realistic buyer personas by outlining relevant touch-points through various online marketing channels.

2. Automating Repetitive Tasks

In digital marketing, you perform repetitive tasks like collecting insights from your audience, sending cart abandonment emails, or scheduling posts. When you continue manually processing these online activities, you will most likely miss sales opportunities from interested buyers. In turn, you may be unable to keep up with your competitors and respond to complaints from online consumers, which affects your reputation.

When it comes to automating repetitive tasks in your digital marketing mix, you must consider tools like content scheduling, live-chat bots, and inbox filtering. After that, you must ensure to turn on reminders so you can fully take advantage of these technologies and improve your online campaigns.

3. Adding CTAs

Publishing online allows you to introduce your products or services to online users. Therefore, you need to add clear calls-to-action (CTAs) to guide your audiences as they interact with your content. As a result, you will encourage active engagement on digital platforms and boost brand visibility.

When adding CTAs, you must analyze your goals to direct your visitors to the ideal actions. Next, make sure to connect all your active digital platforms to inspire them to stay updated with your brand by inviting them to follow your accounts.

4. Leverage UGC

Your loyal customers are some of the most influential promoters of your offerings because they show your prospects that you are credible. Your leads will consider buying your products when they recommend your brand to their peers using user-generated content (UGC). In turn, you will generate more leads, gain more sales, and increase brand credibility.

To encourage UGC, you may organize an interactive contest on Facebook and promote this event through other digital media. Then, you must use email marketing to send the rules to interested participants and collect data about them. For instance, you may use unique UGCs as tools for them to join the contest so you can create a buzz about your brand throughout online channels.

Once you have successfully gathered UGC from your customers, you must ask their permission if you can publish them throughout your channels. If they agree, you may use their posts as positive client testimonials to gain your leads’ trust. For instance, you may highlight their reviews on your blog or share them on your social media stories to encourage others to do the same.

5. Improving SEO

Search engine optimization (SEO) practices are cost-effective ways for you to reach out to online users without spending marketing funds on campaigns. You can direct more organic traffic to your website when you achieve the highest rank on search engine pages. As a result, you will be able to introduce your brand to them and encourage them to browse other relevant business information.

When improving SEO, you must promote your original blogs on other social media platforms. This directs your followers to your website. After that, you should send personalized emails to your customers to motivate them to open your message and click on your web link. However, remember that you must research keywords to use suitable blog topics and terms.

Key Takeaway

As a modern entrepreneur, you must utilize online channels to promote your business and nurture relationships with your customers. Therefore, you should consider following these five tips to maximize your digital marketing channel mix. Once you do so, you might improve content engagement rate, attract more qualified leads, and stay ahead of the competition.

The post How to Maximize Your Digital Marketing Channel Mix appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/marketing/how-to-guides-marketing/how-to-maximize-digital-marketing-channel-mix/

Households spending on credit cards to cope with living costs

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The amount spent on credit cards rose by a staggering £700 million in August. The worry of soaring living costs, energy bills and fuel pushed the annual growth rate in spending on credit cards to 12.9%. Bank of England data suggests this is the highest level since 2005, as households rely heavily on borrowing in order to live.

Just this year, credit card balances have jumped to £5.9 billion. This is an annual growth rate for all consumer credit of 7.0% in August. Economists say this is due to households struggling to make ends meet, using credit to pay for essentials such as food.

Not only are households facing the increasing need to use credit cards to pay for everyday expenses, but the cost of using credit cards is becoming more expensive, with the average interest rates increasing to 18.66% in August. For those who have no choice but to use a credit card to feed their family or keep the lights on, this adds further stress to an already difficult time.

Similarly, households are continuing to deposit less money into their bank accounts than they did before 2020. This suggests people are using cash more frequently, perhaps in a bid to budget more carefully when it comes to shopping.

Jasmine Birtles, our founder and CEO at MoneyMagpie.com, comments:

“It’s a shock to hear that credit card borrowing this year is already equivalent to the last 5 and a half years combined…and that’s only nine months. I think it shows a mix of factors: it’s partly high because many families are not coping with their monthly bills and are putting it on credit but I think it also shows that many of us have continued the lifestyle we had before, not realising that prices have all gone up and it’s costing more to live even like we did last year.

“Credit card borrowing is an expensive way to get quick cash if you’re not able to pay it off within the interest-free period, so I recommend that anyone who is finding themselves routinely putting payments on credit cards and then not being able to pay off the full amount, takes some time this weekend to get on top of their money, do a budget and work out what spending should be sacrificed in order to keep out of debt as prices rise. If this seems impossible then get help from the experienced debt advisors at one of the free debt charities like Community Money Advice, Christians Against Poverty or StepChange.”

Laura Suter, head of personal finance at AJ Bell, comments:

“Credit card borrowing remains at a 17-year high as more people turn to plastic to cover rising costs. The nation added another £700m to their credit card debt in August, taking total outstanding borrowing on credit cards to £5.9bn in the year to date. This is more than double the pre-pandemic total for the same period and is equal to the total net credit card borrowing for the previous five and a half years combined*.

“Once personal loans and car finance are added into the total figure, the nation is sitting on an extra £10.5bn of borrowing this year. But this figure hides the true scale of the nation’s debts as it doesn’t include Buy Now Pay Later borrowing and more informal loans between family and friends. One saving grace is that despite the backdrop of a rapidly rising Base Rate, debt isn’t actually getting much more expensive yet. Rates on personal loans actually fell in August and are still in line with pre-pandemic levels, while credit card interest is only marginally above the pre-pandemic rate.”

The post Households spending on credit cards to cope with living costs appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/households-spending-on-credit-cards-to-cope-with-living-costs

WMS Ecommerce: Five Reasons Businesses Rely on WMS Software

Home Business Magazine Online

Technology has always been a game-changer in the retail industry. The rise of ecommerce has changed the way consumers shop. In 2021 research, more than 2.14 billion people prefer to purchase products and services online. That number is nearly 30% of the global population. As the number of online shoppers increases, so does the competition. That is why entrepreneurs strive to find new ways to stay ahead of the curve. Adapting the warehouse management system (WMS) into their daily operation is one of their best moves.

What Is WMS?

WMS is software that helps businesses to manage and optimize their daily operations. It covers different aspects of the company, including inventory management, order fulfillment, and shipping. This is especially useful for the ecommerce industry as it has a large inventory to manage.

Study shows that the WMS market size is predicted to expand from USD$2.39 billion in 2021 to USD$2.74 billion in 2022 with a 14.77% compound annual growth rate (CAGR). This data will reach up to USD$4.83 billion during the forecast period at a CAGR of 15.55%. Moreover, this growing demand is not surprising as this software plays a vital role in any business.

Reasons Businesses Rely on WMS Software

To give you insights, here are five reasons why ecommerce businesses rely on WMS software:

1. Better Inventory Management

It is a common challenge for ecommerce businesses to keep track of their inventory. You need to ensure that you have enough stock to meet customer demand. However, at the same time, you do not want to overstock as it could lead to high storage costs. Poor vendor communication, failure to monitor inventory, and buying in bulk are some factors that can contribute to inventory problems.

The right WMS software can help solve these issues. It provides real-time data on inventory levels and stock movement. For example, the system can alert the purchasing team if you have a low stock level for a particular product. This way, you can take action immediately and avoid running out of stock. In other words, the WMS ecommerce solution assists you in making sound decisions about inventory management.

2. Fast-Order Processing

Fast and efficient order fulfillment is crucial to your ecommerce business success. In a report, 40% of online buyers are willing to wait two days for their orders to arrive. Meanwhile, 18% are amenable to paying an extra charge for one-day delivery. If you cannot process and ship orders on time, customers will likely go to your competitors.

Implementing WMS technology can speed up your ordering processing time by automating various tasks. For instance, the system can generate pick tickets and route them to the right team. Moreover, you can monitor product status and location in real time, whether in transit or delivered to the customer. With WMS, you can achieve your goal — to process and ship orders on time. As a result, you can improve customer satisfaction and loyalty.

3. Reduce Operating Costs

The cost of running a business can be high, especially for ecommerce businesses. Many factors must be considered, such as facility, staff, inventory, and shipping. All these aspects can have significant impacts on your bottom line.

Fortunately, the design of WMS software helps businesses cut down their operational costs. This innovative solution can optimize warehouse space and improve resource utilization. For example, the system can help you find the most efficient way to store products in your facility. You can then use the space more effectively and minimize storage costs. At the same time, you can reduce your reliance on manual labor, as this technology automates several tasks.

4. Boost Customer Satisfaction

The primary goal of every business is to provide the best possible shopping experience for its customers. A warehouse management system can greatly assist in achieving your objective by improving customer experience.

As mentioned, WMS software provides real-time data on product availability. You can use this information to avoid overcommitting and underdelivering to clients. You can also provide accurate delivery estimates and keep your customers in the loop. This approach can reduce the number of customer service calls and emails, resulting in satisfied customers. They may also leave positive reviews and recommend your business to other people. All these factors can generate more leads and sales for your ecommerce business.

5. Improve Business Scalability

Scalability is one of the most important aspects of a successful business. As your business grows, so do your customer base and inventory levels. If unprepared for this growth, it may lead to many problems, such as stockouts, longer lead times, and unhappy customers.

WMS solution is intended to grow with your business. This software can be customized and configured to meet your changing needs. You can add more features and functionalities to the system, such as return management, stock-keeping units (SKUs), new users, locations, and more. As a result, you ensure that your ecommerce business keeps up with the demand without any problems.

Conclusion

A warehouse management system (WMS) is a valuable asset for ecommerce businesses. Now it is your turn to take advantage of this technology. It is a long-term investment that helps your business reach new heights.

The post WMS Ecommerce: Five Reasons Businesses Rely on WMS Software appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/businesses/ecommerce/wms-ecommerce-five-reasons-businesses-rely-wms-software/

Mental Health Tips for Entrepreneurs

Home Business Magazine Online

Entrepreneurship is tough, especially when the responsibility of many falls on your shoulders. Whether it be that you are launching your business, or the state of the economy is pushing you to make some difficult decisions, keeping your mental health in a good place is very important. It often is not spoken much, how entrepreneurs face immense pressure and hardships, as the success story at the end of all the hardships is often the focus of most stories. However the truth is that, all success stories start from struggles and determination, and the recipe for success in all cases is first and foremost, to maintain your health. Without the mental power and continuity, seeing the light at the end of the tunnel is even harder.

Mental health is often improved when people actively do activities in which they enjoy. While online gaming and gambling is often one of the best ways people engage and spend some ‘me time’. Casual gaming without incentive however, can lack passion and consistency. Therefore, if you’re a gamer looking for the best source of entertainment and alone time, CSGOBook is one of the hotspot gaming outlets of the times today. All the games on the platform allow for gambling, meaning you will really be able to really relax and have a session away from all the business deals associated with being an entrepreneur. Head on over to https://csgobook.com/crash/ for an example of one of the best games from this platform. Down below are other ways in which you can improve your mental health.

Daily Self Care

Self care is a perfect way of putting back time and attention into your life, without it being something that cannot be maintained. Whether you like taking baths at the end of the day, baking some cookies, practising 10 minutes of yoga or meditation, no matter how small your dedicated routine is, you will come to realise it can really help relax your mind and body and help alleviate overwhelming thoughts that may come your way during the day. Whatever your self care routine may be, just dedicating a scheduled time in your day to complete it, will make you feel grounded and more whole by the end of it.

Morning Gratitude Routine

Another way to instil peace and calm in your daily routine is by practising daily gratitude. Sitting down every morning before your hustle and bustle will ground you, but also remind you how blessed you are to be taking this journey in your life, and in many ways, remind you for all the more reason to continue pursuing your dreams without fail. Sometimes it is the small things that bring peace, but channelling that awareness will in fact make your day so much calmer, as you realise that many things do not matter, and it is the reaction and time we give to ‘problems’ that can make life difficult. In the grand scheme of things, the basic necessities of warmth, food, shelter, put you in the top category of wealth and privilege in the world. You are doing better than you think!

Super Human is a great platform that provides small snippets of gratitude journaling that can help you channel into your best self, in case you are needing a guideline of where to start off.

Journaling

While journaling is very similar to gratitude routines, journaling opens the space to write down all the negativity that has been following you around all day. Once written on paper, you can see it as a metaphorical way of getting the negativity and stress out of your day, to where you can simply flip the page over, for a brand new day. Such habits of journaling encourage you to see the greater scheme of things, where you can actually focus on things you CAN control, rather than floating in limbo, amongst all the untamed thoughts.

While declining mental health can be a culmination of anxiety, depression and overall low self esteem, simple habits of reworking your trail of thought, as well as putting self love back into your everyday life, can make all the difference. Remember, you are capable of everything you can imagine. However first, taming your internal thoughts is the first step to seeing change in your external environment.

The post Mental Health Tips for Entrepreneurs appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/lifestyles/health-and-fitness/mental-health-tips-entrepreneurs/

Facebook offers new ways to customize your feed

Facebook has just announced two new ways for you to customize your feed. The new features will allow you to show more or less of the content that’s suggested to you based on the platform’s AI.

Show more of what you like, and less of what you don’t. The first new feed-ture is the ability to select Show more or Show less on posts from people and communities you’re connect to as well as posts that Facebook recommends.

Selecting Show more will temporarily increase the ranking score for that post you liked. Selecting Show less will decrease that post’s ranking score. These scores help to make the AI smarter, more responsive and tailored to your preferences.

The Show more, Show less feature should be available soon and will be periodically shown on posts in your feed. You can access the Show options by clicking the three-dot menu in the upper right corner of the post.

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Customize posts from friends, family, and groups. Facebook is also testing new ways for users to be able to customize posts they see from friends and family, Groups, Pages and public figures you’re connected to.

You can find those tools in the Feed Preferences section of your account.

Dig deeper. You can read the announcement and get the full details about these new features here.

Why we care. Nobody wants to see posts from people, businesses, or groups they’re not interested in. Even if you’re a member of a group, constantly getting bombarded by members’ posts doesn’t make your Facebook experience any more enjoyable.

If you’re a business using Facebook to promote your product or service, ensure your relevancy score stays high by making sure you’re posting relevant, up-to-date content that’s helpful for your followers.

The post Facebook offers new ways to customize your feed appeared first on Search Engine Land.

Original source: https://searchengineland.com/facebook-offers-new-ways-to-customize-your-feed-388520

How to stop wasting brand search spend – and save it with automation

What if you could automatically turn off bidding on your brand terms when no other rivals are in the picture, and you’re already positioned number one organically? The savings could be substantial.

It all starts with Lone Rangers.

Who is that masked figure? Lone Rangers defined:

A ‘Lone Ranger’ is a brand search term for which you are the sole paid search bidder and for which you have the #1 organic position. In other words, why pay for clicks on a term you’re winning for free?

Lone Ranger keywords are those you would win without bidding

“Lone Ranger” terms drive millions in wasted brand paid search spend. They’re brand terms you win organically and for which you’re the sole bidder for paid ads. Many brands keep spending on those terms simply because monitoring and identifying them 24/7 used to be a time-consuming hassle. But not anymore.

Why rein in Lone Rangers?

Lone Rangers represent a no-downside opportunity to reduce wasted spending on terms where you don’t face competition. You can pay for the click or pay nothing; either way, you win the click organically.

Maintaining Search Engine Results Page domination may still be fruitful for brand experience, but the costs can and should be reduced until another competitor appears. Savings can even be reinvested into areas of greater growth.

Adthena’s Lone Ranger reports show the number of Search Terms where you alone are showing a paid ad and have the top organic spot and your potential savings from the last seven days. Additionally, with Brand Activator technology, you can fully automate the process of pausing and restarting ‘Lone Ranger’ keywords.

What’s Brand Activator?

Brand Activator is a brand new feature on the Adthena platform that automates the entire process of monitoring, pausing and restarting Lone Ranger campaigns.

What’s the purpose of this automation? To prevent you from a) wasting budget or b) losing market share. What’s the desired outcome? To stay on top of your paid search game and dominate your competitive landscape.

How does the automation tool work?

Brand Activator is automated around the clock, meaning that no manual labor is involved, saving time and costs. (We heard that sigh of relief). The tool automatically deactivates and reactivates bidding to ensure full optimization of brand clicks and market share.

Here’s a step-by-step process of how it works:

24/7 monitoring – Adthena finds Lone Rangers terms you’re winning organically with no rival bidders.
Automatic deactivation – Bidding on Lone Rangers is automatically paused and added to your negative keyword list.
Automatic reactivation – Bidding is reactivated if a competitor starts bidding.
Monthly reporting – Adthena provides analytics to track your savings and identify other areas to reinvest.

Save now, reinvest later

You’re in charge of what you want to do with the savings – whether that’s to save budget or reinvest elsewhere for greater ROI. Using Adthena’s Whole Market View technology, you could reinvest these savings back into your paid search strategy on higher-performing search terms to boost overall Return On Ad Spend (ROAS).

How can you benefit from it?

With brands operating on tight PPC budgets and economic uncertainty, taking control of Lone Rangers, either manually or through Brand Activator, can be an easy and no-risk way to reduce wasted spending. This opportunity for significant growth is a no-brainer.
Interested in learning more about what Brand Activator can do? Check out this easy guide to learn more.

The post How to stop wasting brand search spend – and save it with automation appeared first on Search Engine Land.

Original source: https://searchengineland.com/how-to-stop-wasting-brand-search-spend-and-save-it-with-automation-388348

Google Search Console data logging issue on September 21st

The search performance report in Google Search Console had a data logging issue on September 21, 2022. This caused some data to not be presented in the search performance report on that date, potentially making it appear that you had fewer visitors from Google Search on that day.

Google said it is working on replacing most of the data in the near future. If you did any reporting for clients or you plan to do reporting for clients in the near future, you should communicate this data anomaly in those reports.

The issue. Google wrote here, “Due to a logging error, sites may see a small drop in data for this day. This is a logging issue only; it does not reflect changes in search performance or user behavior. We hope to replace most of the missing data soon.”

This was on September 21st for the Search performance report.

What it looks like. Google has now annotated the report so you can clearly see which date is affected:

Fix coming soon. Google said it will fix or replace most of the missing data soon. It is unclear if the fix will be actual data or similar data from previous day averages.

Why we care. If you have provided reporting to clients or management, you may want to update them that the September 21st data in Search Console may be wrong. If you will soon be providing reporting to clients or management, you may want to annotate your reports with this note.

Make sure to check back later to see if the data was restored and if you need to send revised reports to clients or management.

The post Google Search Console data logging issue on September 21st appeared first on Search Engine Land.

Original source: https://searchengineland.com/google-search-console-data-logging-issue-on-september-21st-388466

How Sage Payroll Can Benefit Your Business

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Payroll is one of the most important aspects of HR for small businesses. By using a payroll software, business owners can take care of this complex process quickly and efficiently. This allows you to focus on other important aspects of running your business. In addition, a payroll software can help to ensure that employees are paid accurately and on time. This can help to build trust and loyalty among employees, which is essential for any business. As a result, a payroll software can be a valuable tool for small business owners. Software that manages payroll, such as Sage Payroll Services, can be a valuable asset to businesses large and small.

By automating the process of paying employees, withholding taxes, and managing deductions, Sage Payroll Services reduces the amount of time and money that businesses have to spend on these tasks. The platform offers a number of features that can help businesses stay compliant with tax laws and better manage their finances. You can learn more about this software from pimbrook.ie/software/sage-payroll/.

While there are other payroll services on the market, Sage Payroll is one of the most popular options available. Thanks to its comprehensive set of features and competitive pricing, Sage Payroll is a good option for businesses of all sizes.

What Is Sage Payroll?

Sage Payroll is a cloud-based payroll software that gives users the ability to manage and automate their payroll process. With Sage Payroll, you can pay your employees accurately and on time, file your taxes, monitor employee data, and stay updated on compliance.

Sage Payroll also allows you to integrate with a range of other software including accounting, HR management, time management, and payments. In addition, it offers customer support services, a six-month money-back guarantee, and access to a vast knowledge base.

Plans and Features

There are three different plans offered by Sage Payroll Services: Essentials, Essentials Plus, and Full Service. Each plan offers different features, so you can choose the one that best meets your needs.

Sage Payroll Essentials

The Sage Payroll Essentials plan is the perfect solution for small businesses that want to take care of their employees without having to worry about deductions and tax withholdings. With this plan, you have three options for paying your employees: direct deposit, paycards, or printing your own checks. In addition, you and your employees will be able to log in and easily find all payroll-related information stored in one secure location. This includes data like W-2s and pay stubs.

With this plan, you can integrate with your accounting software, time management software, and ACA compliance software. You also have access to their customer support team, an advice community, and a six-month money-back guarantee. Take note, however, that you will be required to file your own taxes.

Sage Payroll Essentials Plus

The major difference between Essentials and Essentials Plus is that the latter includes business tax filing for the first three states. This added tax service makes it a more attractive option for businesses that want to outsource this time-consuming task. In addition, the Essentials Plus plan offers a discount on additional state filings, making it a more cost-effective option for businesses with multiple locations. If you need all the features found on the Essentials plan but want to be worry-free when it comes to filing taxes as well, it is best to look into Essentials Plus.

Sage Payroll Full Service

The Sage Payroll Full Service plan is the most comprehensive plan offered by Sage Payroll. With this plan, you are assigned a dedicated service representative to take care of your payroll needs. In addition to the services included in the Essentials and Essentials Plus plans, the Full Service plan also includes filing and remitting taxes in all states and jurisdictions. You also get to enjoy the benefit of additional HR data management.

This plan proves to be an excellent option for businesses with a large number of employees in different states. If you have a complex payroll process, the Full Service plan can make your life a lot easier.

Pricing

The pricing for Sage Payroll plans depends on the number of employees you have, the services you need, the plan you choose, and any additional integrations you may want to purchase. Details about pricing for their accounting can be found on the company’s site, but this is not the case when it comes to its payroll services.

This means you have to contact Sage Payroll for a custom quote based on your business’s specific needs. A customised pricing quote is the only way to get an accurate estimate of how much you will be spending on their payroll services.

Benefits of Using Sage Payroll Services

Many benefits come with using Sage Payroll Services. First, it is a comprehensive system that can take care of all your payroll needs, from processing payments to filing taxes. This gives you more time to focus on running your business.

Another benefit of using Sage Payroll is that it is very user-friendly. Both you and your employees will be able to easily navigate the system and find all the information you need. The system is also very secure, so you can be sure that all your employee data will be safe.

It’s cost-effective as well. When you compare the price of Sage Payroll Services to the cost of hiring an in-house payroll specialist, you will see that it is very reasonable. You also have the option to choose the plan that best suits your business’s needs.

Final Comments

Sage Payroll Services is a trusted name in the payroll industry. If your business is looking for a comprehensive, user-friendly, and cost-effective payroll solution, then Sage Payroll Services is definitely worth considering.

The post How Sage Payroll Can Benefit Your Business appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/home-office/computers-and-software/sage-payroll-benefit-business/

Is Business Ledger Software By Subscription a Game Changer for Small Businesses?

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A general ledger software is a system that helps businesses track and manage their financial transactions. This type of software typically includes features for accounting, invoicing, and budgeting. Such software can be used by businesses of all sizes, but it is often especially helpful for small businesses. However, many businesses cannot buy a premise version right from day A. So, for many of them, the business ledger software by subscription becomes the most valuable option.

There are many different types of general ledger software available on the market, so it is important to choose one that will best fit the needs of your business. Some factors you may want to consider include the size of your business, your budget, and the features you need.

What Are the Benefits of Using a Business Ledger Solution?

The benefits of using business ledger software for small businesses are many. Perhaps the most obvious benefit is that it can save the business owner a great deal of time and effort in keeping track of their finances. In addition, using ledger software can also help to ensure financial records are accurate and up-to-date, which can be critical for tax purposes or other financial reporting requirements.

Another key benefit of using ledger software is that it can help businesses to manage their cash flow better. Having all financial transactions in one place makes it easier to track where money is coming in and going out. This information can then be used to make more informed decisions about how to best allocate resources.

Overall, using general ledger software provides several advantages for small businesses. It can save time and effort, improve recordkeeping, and provide insights into cash flow management.

What Are the Pros and Cons of Using Ledger Software?

No software has strong sides only, and business ledger software is no exception either. Many things depend on the type of software and the developer you deal with. Some mastodons of the fintech market offer their relatively old solutions promising gradual upgrades in the future. In fact, your company will be in the queue of other businesses awaiting the next tuning up in a year or a half a year. Many companies still buy such solutions, but it is most suitable for neobanks and businesses in strictly regulated niches. Crypto, e-commerce, and SMBs may look into more flexible, adjustable, and tech-modern-ledger solutions from a newer generation of developers. For instance, the modern stack favors the API module and API-first approach that cuts the time of the possible integration down to a week or maybe less.

Pros:

The following are the pros of using business ledger software:

-Allows businesses to keep track of their finances in an organized manner;

-Can help businesses save time and money by streamlining accounting processes;

-Offers flexibility and customization options to suit the needs of different businesses; and

-Provides security and peace of mind by safeguarding financial data.

Cons:

The following are the cons of using business ledger software:

-May require a significant upfront investment; and

-Requires some level of accounting knowledge or training to use effectively.

Software As A Service (SAAS)

The SAAS model is highly comfortable for an established business. It solves the time to market problem, as the solution is already at your hands. When you favor the SAAS on the cloud business ledger, you are likely to work with a software ready for integration straight away. The provider will charge a fixed price per month. Some providers offer a flexible pricing system that adapts to your business growth and needs. It leaves many resources in-house for you. Moreover, it does not require a 5-10 people development department. The SDK.finance team also offers business ledger software by subscription. Check more details about it.

The post Is Business Ledger Software By Subscription a Game Changer for Small Businesses? appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/accounting-and-bookkeeping/business-ledger-software-by-subscription-game-changer-small-businesses/

Government U-turn on plans to scrap 45p tax rate

Reading Time: 2 mins

The government have made a U-turn on a plan laid out in the mini budget.

In the recent mini-budget, announced by Chancellor Kwasi Kwarteng, a plan was announced to scrap the 45p income tax rate. This is paid by those earning more than £150,000 per year. It was announced as part of the largest tax cutting announcement in decades.

But now, the government have made a huge U-turn on these plans, marking a humiliating climbdown for the new Prime Minister. On Sunday, Liz Truss had said she was committed to the policy. But just hours later, the Chancellor announced the proposal had been abolished.

Mr Kwarteng told the BBC the policy had become a “massive distraction on what was a strong package”. He continued, “We just talked to people, we listened to people, I get it”.

The package also included support in paying for energy bills, cuts to the basic rate of income tax and scrapping plans to increase corporation tax. However, the Chancellor has said there is “more to come”, altho0ugh no further tax cuts will be announced prior to the next Budget in Spring 2023.

The government are set to announce their fiscal plan on November 23rd. This will include forecasts for the mini-budget and more details about whether these tax cuts will mean spending cuts for public services going forward.

What did people have to say?

The policy received huge backlash from both the general public and members of the conservative party itself. Many MPs came forward and voiced their concerns about the policy. It also saw remarkable opposition from the markets.

Labour told the government to “reverse their whole economic, discredited trickle-down strategy”. Many people also suggested the initial policy was tone deaf during a cost-of-living crisis when millions of people across the UK are struggling to pay their bills.

Sir Ed Davey of the Lib Dems even called for the chancellor to resign, suggesting he no longer has “any credibility”. He also stated the whole mini-budget needed a huge overhaul.

The 45p income tax rate applies to income above £150,000. This is applicable in England, Wales and Northern Ireland. Abolishing this tax rate made up around £2bn of the £45bn worth of tax cuts announced within the mini-budget.

You can read all of the new policies laid out by the Chancellor in this mini-budget here.

What are your thoughts on the mini-budget? How do you feel about the government’s U-turn on abolishing the tax rate for higher earners? We want to hear your thoughts! Feel free to leave a comment below.

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Original source: https://www.moneymagpie.com/make-money/government-u-turn-on-plans-to-scrap-45p-tax-rate