Category Archives: Finance

Bento Customer Spotlight: Precision Facility Services’s strategy for doubling revenue, halving expenses

By | Bento Tips, Business Growth, Customer Spotlight, Finance, Growth, Small Business

Each installment of the Bento Customer Spotlight features a current customer who shares their story of how they run their business, and how Bento plays a part in their success. It was nine o’clock at night when they finally switched off the office lights. The good news was that the company was on a revenue roll. The bad news? So were expenses. Allison Lopez, Chief Operating Officer at Texas-based Precision Facility Services, explains. “Unfortunately our…

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17 Red Flags Your Client Is Hiding Something

By | Accounting, Education, Finance, Small Business

Part of the job of any bookkeeper or tax preparer is to keep an eye out for fraud. Ignoring warning signs in a client’s finances could leave you on the hook for charges related to tax fraud, which could lead to fines, loss of your license to practice, and even (in extreme cases) jail time. But what exactly counts as a “warning sign?” Some are pretty obvious and some are more subtle. Here are 17…

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Scaling New Heights… of Inspiration and Community

By | Accounting, Company News, Finance, Marketing

by Shuyi Shang, Accounting Community Manager at Bento for Business   Last month I attended Scaling New Heights, a popular conference in the accounting industry. The theme was “Tame the Machines,” but what struck me most was the people I met there. And more to the point, I was inspired by how passionate they were about their work and the people they serve. So inspired, in fact, that I wanted to capture some of what…

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Fraud Alert: 10 Ways You’re Making it Easier for Employees to Steal from You

By | Accounting, Employee Theft, Finance, Small Business

Whether or not you’ve stopped to think about it, small businesses are more vulnerable to internal fraud than their larger counterparts. This is because small businesses… Typically don’t have a budget for fraud detection. Rarely have official policies in place for handling funds, checks, reimbursements, and bills. Often rely on trust rather than clearly defined documentation, rules, and consequences. These attributes have real-world consequences. The Association of Certified Fraud Examiners found that the median fraud-related…

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5 Fraud Prevention Strategies for Small Businesses on a Budget

By | Accounting, Employee Theft, Employees, Finance, Small Business

Preventing fraud may not be top-of-mind for most small-business owners, but accounting professionals understand that fraud is a real – and potentially costly – risk. In fact, the Association of Certified Fraud Examiners (ACFE) found in 2016 that the median fraud loss at businesses with fewer than 100 employees is $150,000 – the same as it is for businesses with more than 10,000 employees. The implications are staggering. While a loss of $150,000 is never helpful, larger businesses…

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Accounting Professionals: Don’t Miss These Upcoming Conferences

By | Accounting, Bento Tips, Education, Event Planning, Finance, Growth

Thanks to the technological revolutions over the recent years, the accounting industry has witnessed a paradigm shift in processes and practices. Whether you’re a professional bookkeeper, accountant, CPA executive or business finance professional, you should upgrade your professional skills throughout your career to sustain growth and avoid stagnation. These days, that often includes keeping your accounting technology relevant and effective. Attending popular accounting conferences is not only a great way to network and get the…

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Bento for Business gets two software awards from FinancesOnline

By | Accounting, Business Prepaid Debit Card, Company News, Finance

We’re happy to announce that Bento for Business scored big in a recent analysis by trusted B2B directory Reviewers gave their double thumbs up, scoring us an 8.0 out of 10 with a user satisfaction rating of 94%. They noted how our prepaid cards and expense management platform make it easy for business owners to control employee spending, prevent cash leaks, trim down operational costs, and make expense management more transparent. Additionally, we received the 2017 Rising Star Award and Great User Experience Award in FinancesOnline’s best expenses management software category. Experts…

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Personal vs Business Expenses – Can I Deduct This?

By | Finance

Knowing how to differentiate between your personal and business expenses can save you not only money on tax payments, but from any potential errors which might land you in trouble with the Internal Revenue Service (IRS). If you’re an incorporated business, deducting expenses helps reduce your business taxes. If you’re a sole proprietor, it helps you decrease your regular income as well as your self-employment tax. While the IRS offers both personal and business deductions,…

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Top 5 Small Business Accounting Software Choices

By | Accounting, Finance, Software

There are a myriad of accounting tools available on the market, with various features and benefits. However, some of them stand out due to their advanced features, ease of use, reliability and utility. Here are our current top five small business accounting software choices. 1. Fresh Books: highly rated by its users, this tool offers everything you need, from unlimited invoicing and bill management to multi-currency billing and mobile apps. 2. QuickBooks: the first name…

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3 Ways to Get a Small Business Loan

By | Accounting, Finance

It may be harder to get a small business loan since the 2008 financial crash, but that doesn’t mean it’s impossible. To keep the economy running like a well-oiled machine and keep the American people employed, small businesses need to be able to thrive. Since 1995, small businesses have generated over 65 percent of new jobs in the US and today they employ over 50 percent of the working population. With statistics like these, it’s…

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