Investing for Good: Embracing the Long Journey

by Martina Hund-Mejean @ Global Hub

Fri Mar 09 11:49:08 PST 2018

It’s not every day that a CEO and CFO talk about investing millions of dollars into a part of the business that doesn’t generate direct profits. But that’s exactly what we did when we took advantage of the recent U.S. tax reform to make a focused investment – half a billion dollars – into our …
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How to: Add an APO or FPO address to a TouchNote order

by Conni @ TouchNote

Mon Jul 24 13:56:50 PDT 2017

Want to send a postcard to friends or family serving in the US military? Here’s how to pop their APO or FPO address into the app or our website. In “Street address” field: Enter one of the following: For Army, Navy and Marines: Enter Unit Number and Box Number For Ships: Enter Ship Name and…

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How to: Add a BFPO address to a TouchNote order

by Conni @ TouchNote

Tue Aug 08 08:45:36 PDT 2017

If you’re sending a TouchNote order to a BFPO (British Forces Post Office) address, first make sure you’ve read all the UK Government’s advice here about sending mail to a BFPO address. Then, here’s what you need to pop into the TouchNote address form when sending to service personnel. Please note this is for BFPO addresses only. For…

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TopUp for Prepaid Mobile – Anywhere in the World!

by CashPass @ CashPass

Sat Feb 24 13:41:46 PST 2018

Use TopUp to send mobile minutes to any prepaid phone in the world! Use your Cashpass card or any Debit or Credit card - instantly and securely! LEARN MORE at https://www.cashpass.com/refill/ #topup #cashpass

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Over 175 million Europeans ready to pay with wearable devices

by Corinne Raes @ Global Hub

Wed Feb 21 22:54:24 PST 2018

Overwhelming success of contactless cards peaks shopper demand for wearable payments February 22, 2018 – One quarter (24%) of Europeans expect to start using “tap and go” contactless payments with a smartwatch, bracelet, keyring or other forms of wearable payments, according to new figures from Mastercard. Contactless spend on Mastercard and Maestro grew by 145% …
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6 reasons to send a TouchNote card – all year round!

by Conni @ TouchNote

Tue Sep 12 03:48:27 PDT 2017

Postcards aren’t just for summer! There’s so many ways to make someone’s day with your snaps, all year round. Take a look and see how these TouchNoters from around the world are making people smile with their cards. First day of nursery Ted and his awesome dinosaur rucksack (which he picked out himself!) are off…

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Women in Charge: Mastercard Index reveals how countries are progressing to empower women entrepreneurs

by Georgette Tan @ Global Hub

Wed Mar 07 03:00:05 PST 2018

Call to action: Time to end gender bias against women entrepreneurs around the world Singapore – March 7, 2018 – Women entrepreneurs appear to thrive better in more developed economies, findings from the second edition of the Mastercard Index of Women Entrepreneurs (MIWE) revealed. Compared to their peers in emerging markets, women business owners in …
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Fortune Favors the Bold: The Cashless Society

by Marcy Cohen @ Global Hub

Tue Mar 13 04:30:26 PDT 2018

Can you imagine a world without the tooth fairy? A proponent of a cashless society, I still think there is something sweet and naïve about tucking one or two dollars under your child’s pillow each time they lose a tooth.  My youngest child is already 12 years old so you’d think I’d be well past …
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How P2P Payment is Changing Personal Finance

by rapid! PayCard @ rapid! PayCard

Wed Sep 13 13:18:58 PDT 2017

Emerging Peer-to-peer payment technology is growing in popularity, and will soon make back-of-napkin IOUs obsolete. Peer-to-peer payment, also known as P2P payment, is online technology that allows users to transfer funds from a bank account or credit card via the internet or mobile phone. One study found that nearly a quarter of mobile users sent money to another person from an app in 2016 — this statistic nearly triples when it comes to the millennial generation. The growing trend of P2P payment is just another chapter in 21st century technological augmentation of traditional services. Whether it’s ridesharing, online shopping, or P2P payment, consumers are foregoing tradition, and choosing digital alternatives... Read More

Mastercard and MegaFon extend the mobile payment functionality

by Adam Keal @ Global Hub

Wed Feb 28 04:31:03 PST 2018

Mastercard* and MegaFon have presented two joint initiatives at the interface between telecommunications and banking technologies at Mobile World Congress 2018 held in Barcelona from February 25 through March 1. Starting from March 1, MegaFon’s subscribers will be offered an opportunity to link their mobile phone account to Apple Pay or Samsung Pay by creating …
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If You Insist on Paying Taxes With a Credit Card, Here’s How

by Tina Orem @ NerdWallet

Thu Mar 22 14:14:34 PDT 2018

Ask any financial expert whether you should pay your tax bill with a credit card, and the answer is almost universally the same: Don’t do it. Credit cards charge far…

Digital Focus Aligns Mastercard Organization and Investments

by Seth Eisen @ Global Hub

Wed Mar 07 05:32:49 PST 2018

Garry Lyons to Lead New Venture Providing Services to Mastercard, Its Customers and Partners PURCHASE, N.Y. – March 7, 2018 – Mastercard today announced the integration of its physical and digital payments teams under one organization, effective April 2, 2018. This change comes as Garry Lyons departs the company to launch a new technology initiative …
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It’s time payment systems caught up with the demands of the gig economy

by rapid! PayCard @ rapid! PayCard

Tue Feb 13 16:10:28 PST 2018

Is your payment system ready for the gig economy or are you just a big wannabe? According to a Forbes article, 35 percent of the workforce have a gig, and collectively they earned $1 trillion from ad hoc work last year. But, freelance workers, who have come to expect payment as instantaneous as their work, are turning their noses up at outdated companies that can’t keep up. If you’re still mailing checks, might as well be using the Pony Express as far as tech-savvy gig workers are concerned. We are on the precipice of a major sea change, and the traditional employment model is quickly becoming as outdated as the... Read More

Never Miss a Minute with TopUp from Cashpass!

by CashPass @ CashPass

Wed Feb 28 16:56:43 PST 2018

It's a world filled with busy schedules. Stay in touch with friends and never miss a minute by purchasing prepaid mobile TopUp minutes from Cashpass. Use TopUp to send mobile minutes to any prepaid phone in the world! Use your Cashpass card or any Debit or Credit card - instantly and securely! GET TALKING: https://www.cashpass.com/refill/ #topup #cashpass

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Update on Our Gender Equity Practices

by Michael Fraccaro @ Global Hub

Mon Feb 12 12:52:39 PST 2018

I recently wrote about the importance of having a foundation of decency. To us, this is more than an abstract idea or clever sound bite.  It’s a statement of our core belief that the path to achieving success in both business and societal goals is delivering an environment where the best people choose to be. …
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Fortune Favors the Bold: You 2.0

by Brooke Capps-Yaroni @ Global Hub

Tue Feb 13 05:20:41 PST 2018

For the first few weeks of my life, I didn’t exist. At least, not in the eyes of the US government. I was born at home in a small town without a maternity ward. No one in our town hall knew the protocol for creating a birth certificate for a baby who’d been born without …
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E-File to Get Your Tax Returns Fast!

by CashPass @ CashPass

Sat Feb 24 13:38:44 PST 2018

Use TopUp to send mobile minutes to any prepaid phone in the world! Use your Cashpass card or any Debit or Credit card - instantly and securely! LEARN MORE at https://www.cashpass.com/refill/ #topup #cashpass

The post E-File to Get Your Tax Returns Fast! appeared first on CashPass.

Powering Payments from the Driver’s Seat

by Stephane Wyper @ Global Hub

Mon Feb 26 23:30:51 PST 2018

According to AAA, Americans spend an average of 17,600 minutes driving per year, or roughly 48 mins per day. Traditionally, those 48 minutes have been spent just getting from one place to another. Today, the vehicle is much more than just a means of transportation. It is now a truly interactive environment which offers drivers …
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Sign Up for Your Cashpass Card – It’s Easy!

by CashPass @ CashPass

Tue Mar 27 13:29:55 PDT 2018

You got this! Get your Cashpass Card today! FAST & EASY! NO CREDIT CHECKS! NO OVERDRAFT FEES! Choose your plan and get started today! https://enrollsecure.cashpass.com/cashpass/ #cashpass #nocreditchecks

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Schedule a Check-up for Your Financial Life

by rapid! PayCard @ rapid! PayCard

Fri May 05 09:13:33 PDT 2017

Most of us are diligent about maintaining the various aspects of our life. We swap out the batteries on our smoke detectors with regularity; we schedule annual physicals, and get our car’s oil changed based on the manufacturer’s mileage recommendation. Still, many of us tend to take better care of our cars than we do our financial life. The irony being, an un-tended financial life can break down just as assuredly as an under-serviced automobile. It can run out of gas, but it can also seize up and need a roadside tow. In short, a well-examined financial life is worth exploring. 1. Schedule. Set a recurring point in time for... Read More

Apple Pay Cash is Now Live — How Does it Work?

by rapid! PayCard @ rapid! PayCard

Tue Feb 13 15:11:25 PST 2018

Learn everything you need to know about the new Apple P2P payment system That one friend, the one who still hasn’t repaid you for pizza because he “doesn’t have the right app,” is in trouble. Today, iPhone users can access what experts in the tech industry are calling “the Venmo Killer”: Apple Pay Cash. Apple Pay cash is a P2P payment service which allows users to send and receive payment through iMessage The days of P2P fragmentation are over. Thanks to Apple Pay Cash, all money transfers can take place through a central, default iOS application, and ultimately unify all P2P transactions under one secure, and intuitive, system. How to... Read More

Last order dates for the holidays 2017

by Conni @ TouchNote

Fri Nov 24 08:43:29 PST 2017

The holidays are coming fast! So make sure your cards and gifts get there in time. We’ve put together a list of last recommended order dates for all our different products. And don’t forget, all TouchNote cards include free international delivery  🌍📬 Need a hand? We’re here for you 24/7 at help@touchnote.com Last order dates…

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Mastercard and Dream Speed Up Insurance Payments

by Bernhard Mors @ Global Hub

Tue Feb 27 01:54:31 PST 2018

Fast and ubiquitous delivery through Mastercard Send – Northbridge Financial to offer new service in Canada PURCHASE, NY / TORONTO – February 27, 2018 – Mastercard today announced a global partnership with Dream Payments aimed at getting insurance customers paid quickly, simply and securely. Both companies share a vision where insurance policyholders will receive fast …
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Turnover ratios

by Steven Bragg @ Articles - AccountingTools

Tue Mar 27 15:24:00 PDT 2018

A turnover ratio represents the amount of assets or liabilities that a company replaces in relation to its sales. The concept is useful for determining the efficiency with which a business utilizes its assets. In most cases, a high asset turnover ratio is considered good, since it implies that receivables are collected quickly, fixed assets are heavily utilized, and little excess inventory is kept on hand. This implies a minimal need for invested funds, and therefore a high return on investment.

Conversely, a low liability turnover ratio (usually in relation to accounts payable) is considered good, since it implies that a company is taking the longest possible amount of time in which to pay its suppliers, and so has use of its cash for a longer period of time.

Examples of turnover ratios are:

• Accounts receivable turnover ratio. Measures the time it takes to collect an average amount of accounts receivable. It can be impacted by the corporate credit policy, payment terms, the accuracy of billings, the activity level of the collections staff, the promptness of deduction processing, and a multitude of other factors.
• Inventory turnover ratio. Measures the amount of inventory that must be maintained to support a given amount of sales. It can be impacted by the type of production process flow system used, the presence of obsolete inventory, management's policy for filling orders, inventory record accuracy, the use of manufacturing outsourcing, and so on.
• Fixed asset turnover ratio. Measures the fixed asset investment needed to maintain a given amount of sales. It can be impacted by the use of throughput analysis, manufacturing outsourcing, capacity management, and other factors.
• Accounts payable turnover ratio. Measures the time period over which a company is allowed to hold trade payables before being obligated to pay suppliers. It is primarily impacted by the terms negotiated with suppliers and the presence of early payment discounts.

The turnover ratio concept is also used in relation to investment funds. In this context, it refers to the proportion of investment holdings that have been replaced in a given year. A low turnover ratio implies that the fund manager is not incurring many brokerage transaction fees to sell off and/or purchase securities. The turnover level for a fund is typically based on the investment strategy of the fund manager, so a buy-and-hold manager will experience a low turnover ratio, while a manager with a more active strategy will be more likely to experience a high turnover ratio and must generate greater returns in order to offset the increased transaction fees.

Related Courses

Business Ratios Guidebook 
The Interpretation of Financial Statements 

Mastercard renews UEFA Champions League Partnership

by Jennifer Stalzer @ Global Hub

Fri Feb 09 14:20:36 PST 2018

UEFA today announced the extension of Mastercard’s partnership with the UEFA Champions League for the 2018-21 cycle, continuing its relationship with the leading global payments and technology company which began in 1994. The agreement also includes sponsorship rights for the UEFA Super Cup in 2018, 2019 and 2020. For over 20 years Mastercard has been …
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Payroll records

by Steven Bragg @ Articles - AccountingTools

Tue Mar 27 12:00:00 PDT 2018

Payroll records contain information about the compensation paid to employees and any deductions from their pay. These records are needed by the payroll staff to calculate gross pay and net pay for employees. Payroll records typically include information about the following items:

• Bereavement pay
• Bonuses
• Commissions
• Deductions for pensions, benefits, charitable contributions, stock purchase plans, and so forth
• Direct deposit information
• Gross wages
• Hours worked
• Manual check payments
• Net wages paid
• Salary rates
• Vacation and/or sick pay

The information in payroll records have traditionally been stored on paper documents, but can also be recorded as electronic documents.

Payroll records can be considered a subset of the information stored in human resources records, which can contain considerably more information than items pertaining to just employee pay and deductions.

The time period over which payroll records must be retained will depend upon government requirements. The Internal Revenue Service typically states a required retention period in each document it issues dealing with payroll issues. In general, wage calculations should be retained for two years, while collective bargaining agreements should be retained for three years.

Related Courses

Payroll Management 

The growing gig economy, and what that means for electronic payment

by rapid! PayCard @ rapid! PayCard

Fri Aug 04 11:09:31 PDT 2017

Millions of Americans have jobs with little security, no benefits and irregular pay — and they love it. The gig economy is a booming business model that has changed the way employees make money. Gig work translates entrepreneurial spirit into earnings with no strings attached — whether that is to break into a new field, earn extra income for saving and investment, or make some weekend spending money. Nearly a third of the working population have a gig, according to Investopedia. Either as a primary means of income, or as a supplementary job, gigs allow flexibility in employment for a generation characterized by adaptability. This model is especially attractive to... Read More

Consumers Union statement on reports of self-driving Uber car, pedestrian fatality

by David Butler @ Consumers Union

Mon Mar 19 13:34:01 PDT 2018

  Monday, March 19, 2018 WASHINGTON, D.C. — Consumers Union, the advocacy division of Consumer Reports, made the following statement today following the news reports of a pedestrian fatality involving a self-driving Uber vehicle in Arizona: David Friedman, Director of Cars and Product Policy and Analysis, Consumers Union, said, “All of our thoughts and sympathies […]

Mastercard Uses Facebook Messenger To Help Small Businesses Go Digital

by Chaiti Sen @ Global Hub

Tue Feb 27 22:54:55 PST 2018

Launches Masterpass QR bot for Messenger to enable Nigerian businesses to set up digital money accounts and accept QR payments Barcelona, SPAIN – February 28, 2018 – At Mobile World Congress, Mastercard today announced that it will use Facebook Messenger to provide technology to small businesses in Africa and Asia to drive affordable acceptance of …
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Fortune Favors the Bold: Future-Proofing Your Career

by Avia Hawkins @ Global Hub

Tue Feb 20 11:54:11 PST 2018

“You’re only human.” These are the reassuring words I hear from my mom when I really mess something up. It took me a long time—and more than a few mistakes to realize she was probably onto something. In my last semester of college, I decided to take a class that was outside of my comfort …
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Financial model

by Steven Bragg @ Articles - AccountingTools

Wed Mar 28 16:52:00 PDT 2018

A financial model is a mathematical representation of the key variables impacting an organization, which is used to make estimates of how future scenarios will impact the performance and financial position of the business. This model is usually constructed on an electronic spreadsheet, using summary-level revenues and expenses, and employing formulas that change the results of the model when certain variables are altered. For example, variables could be used to model the impact of an increase in energy prices, a decline in product prices, a product recall, a change in the rate of sales growth, or a successful employee strike that results in increased compensation and benefit costs.

A financial model is useful for estimating the effects of a number of scenarios within a short period of time, though its effectiveness depends on how well the model mimics the business. An analyst can use a financial model for a number of purposes, such as:

• Acquisitions. To determine the range of possible outcomes that an acquirer can expect with an acquiree, depending on the actions it takes after the deal has been closed.
• Budgeting. To develop several scenarios as part of the budgeting process, to decide which scenarios to pursue when a detailed budget is constructed.
• Capital budgeting. To determine a range of outcomes that might impact the cash flow return related to a prospective fixed asset purchase.
• Risk analysis. To determine which variables can have the greatest negative effect on a firm, as part of a formal risk analysis.

There are two potential problems with financial models. One is that a model may not properly account for the variables that will impact the model's projected future results. The other problem is that a more complex model is at risk of having calculation errors built into it, which can be difficult to detect.

Related Courses

Budgeting 
Capital Budgeting 

Valentine’s Day 2018 – Last order dates

by Conni @ TouchNote

Fri Jan 26 09:00:32 PST 2018

Don’t be late for the big date! Here’s our last order dates for cards and gifts to: US Cards – Feb 5 Canvas – Feb 5, midnight EST Photo books – Feb 3, midnight EST Framed Photos/Print boxes – Feb 1 UK Cards – Feb 12 Canvas – Feb 8 Photo books – Feb 10…

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It’s Time to Get Your Tax Refund!

by CashPass @ CashPass

Wed Feb 21 12:29:55 PST 2018

Wondering how you can get it faster than just waiting for the mail? E-File and have your refund directly deposited to your Cashpass card! You'll get your payment immediately when it's available instead of waiting by the mailbox for your check. GET PAID IN DAYS NOT WEEKS! -No fees or charges to enroll -Quick and [...]

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Mastercard and Pele unify UEFA Champions League fans to #StartSomethingPriceless

by Jennifer Stalzer @ Global Hub

Sun Feb 11 23:55:58 PST 2018

Share this news using the hashtag #StartSomethingPriceless February 12th, 2018 – With over 70 different nationalities gracing the field in this season’s UEFA Champions League, Mastercard has teamed up with the world’s greatest player – Pele – to celebrate the unifying power of football and the moments that have Started Something Priceless in the history of …
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National Teach Children to Save Day

by rapid! PayCard @ rapid! PayCard

Mon Apr 24 07:00:35 PDT 2017

Like any company that provides technology to make life easier, we examine the millennial demographic. They are the population sector interested in options – from ways to communicate, to ways to bank. In their April 2016, article, Pew Research Center cited estimates by the U.S. Census Bureau that millennials have now “surpassed Baby Boomers as the nation’s largest living generation”. A powerful consumer force, the members of this group are working “real jobs” and building careers. They are open to alternatives. They also need them as they don’t typically comply with traditional banking methods. Per rapid! PayCard’s October 2016 article about banking options for millennials and the flexibility of getting... Read More

6 Things Worth Knowing About Safe Online Payments

by Ben Colvin @ Global Hub

Mon Mar 05 13:12:02 PST 2018

Most of us are spending more and more time online these days. And I do mean “spending” as online sales saw large gains of 18.1 percent, when comparing holiday shopping from 2016 to 2017. As we shop for everything from unique wedding gifts to play and concert tickets or even just sending money online to …
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A thank you from Oded, our President and CEO

by Conni @ TouchNote

Wed Jan 10 06:36:52 PST 2018

Hey TouchNoter! I wanted to thank you for being such a great customer in 2017. Thanks to folks like you keeping in touch with your loved ones, we had another fantastic year of highlights at TouchNote: we sent our 10 millionth card, had a big makeover in May, and introduced our new photo books this…

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Mastercard Expands Support of Mobile Network Operators

by Sara Mandel @ Global Hub

Wed Feb 28 19:24:41 PST 2018

New solutions help industry players explore growth opportunities Mobile phones, smartphones and digital devices play an integral role in how people across the globe communicate, interact and transact. As expectations for related services continually grow, the mobile industry is becoming increasingly competitive. In fact, it could be argued that traditional data and airtime services are …
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E-File Your Tax Return and Get Paid FAST!

by CashPass @ CashPass

Wed Mar 07 16:07:52 PST 2018

Don't miss out! E-File and have your refund directly deposited to your Cashpass card! GET PAID IN DAYS NOT WEEKS! -No fees or charges to enroll -Quick and fast setup -Immediately get your direct deposit information after you enroll! LEARN MORE at https://www.cashpass.com/tax-returns/ #cashpass #taxrefund

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Family Budgeting Made Easy with Cashpass!

by CashPass @ CashPass

Wed Mar 07 16:03:21 PST 2018

The family budget isn't always easy to balance. Sign up for Cashpass Companion Cards and manage it with ease! Get your Cashpass Cards and download the app today! LEARN MORE: https://www.cashpass.com/features-and-benefits/ #familybudget #cashpass

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rapid! PayCard Green Dot Announcement

by rapid! PayCard @ rapid! PayCard

Tue Jan 31 14:03:14 PST 2017

Green Dot to Acquire UniRush, LLC, Operating Company for RushCard and Rapid! PayCard Transaction Expected to Generate Significant Strategic and Financial Synergies PASADENA, Calif.–(BUSINESS WIRE)–Green Dot Corporation (NYSE:GDOT) today announced that it has entered into an agreement to acquire UniRush, LLC, and its operating businesses RushCard, a leading online direct-to-consumer general purpose reloadable prepaid card provider, and Rapid! PayCard, a leading corporate payroll card provider. The acquisition, which maps to “Step Five” of Green Dot’s “Six Step Plan” to enhance shareholder value, materially expands Green Dot’s scale with the addition of the RushCard and Rapid! PayCard installed customer bases, while establishing Green Dot as a formidable player in the growing... Read More

Mastercard Acquires Oltio to Accelerate Digital Payments Adoption in Middle East and Africa

by Seth Eisen @ Global Hub

Tue Mar 06 06:06:20 PST 2018

Acquisition to drive cash displacement and innovation in emerging markets Johannesburg, South Africa – March 6, 2018 – Mastercard has completed its acquisition of mobile payments technology company Oltio from Standard Bank Group. The acquisition builds on Mastercard’s longstanding relationship with Oltio, a startup that pioneered and patented several mobile payments and banking solutions, including an …
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Mastercard and M-KOPA Solar Partner to Light Up Homes and Businesses in Africa

by Chaiti Sen @ Global Hub

Sun Feb 25 22:54:37 PST 2018

BARCELONA, SPAIN – February 26, 2018 – At Mobile World Congress, Mastercard and M-KOPA today announced a partnership that will provide Africans living without electricity a simple way to light up their homes and businesses. M-KOPA, which already provides affordable, safe and clean energy to 3 million people in East Africa, will pilot Mastercard’s Quick …
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This Spring, Clear Mediocre Credit Cards Out of Your Wallet

by Gregory Karp @ NerdWallet

Mon Mar 26 08:00:11 PDT 2018

Spring is a great time to declutter a closet full of clothes, a garage full of boxes and your wallet full of inferior credit cards. The average credit card holder…

How CÍVICO is Connecting Cities with Citizens in Latin America

by Juan Felipe Castaño @ Global Hub

Fri Feb 16 04:00:56 PST 2018

There are more than 35 million citizens in México City, Bogotá or Santiago, yet there is no single app or website to use to find destinations. There’s no one stop shop to learn about local merchants, scout discounts, find events or venues, or simply be in the know about public transport or services. This is …
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Partner Up with Cashpass!

by CashPass @ CashPass

Wed Mar 07 16:04:42 PST 2018

Launch your own Prepaid Debit Card Program! Offer your employees OR customers a solution that will save them time and money by using the Cashpass Visa Prepaid Debit Card program!!! LEARN HOW IT WORKS: https://www.cashpass.com/become-a-distributor/ #cashpass #partner

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Mastercard Engage Expands to Help Businesses Create New Ways to Pay

by Marisa Bianchi @ Global Hub

Mon Feb 26 03:07:51 PST 2018

Mastercard platform is now supporting technology integrations for a full payments ecosystem Purchase, N.Y. – February 26, 2018 – People today are more connected, more technologically savvy and more mobile. As a result, issuers, merchants and device manufacturers seek to provide them more innovative ways to pay and be paid across all channels and devices. …
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Pizza Hut Rolls Out Qkr! to All UK Restaurants

by Adam Keal @ Global Hub

Tue Feb 27 04:00:22 PST 2018

BARCELONA – February 27, 2018 – Pizza Hut Restaurants today announced that it will roll out Mastercard’s Qkr! with Masterpass into its UK restaurants from March 19th. Diners at Pizza Hut restaurants across the country will be able to pay through their mobile without having to ask a waiter for the bill, saving them 12 …
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Fridays with Fintechs: Using Digital Escrow to Reduce Fraud

by Peter Janes @ Global Hub

Fri Mar 23 04:00:25 PDT 2018

A friend of mine had his car stolen when trying to sell it to someone he met online. He handed over the keys to the potential buyer for a test drive and the moment he turned his back to make the buyer a cup of tea, the car was gone. He never received payment for …
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Bespoke piece of music designed to be the most emotional in the world starts a conversation between those who haven’t spoken in years

by Jennifer Stalzer @ Global Hub

Tue Feb 20 12:30:22 PST 2018

Mastercard and David Arnold start something priceless through the power of music February 20, 2018 – David Arnold, Grammy award-winning, British music producer, has composed what is set to be one of the most emotional pieces of music in the world, designed to help rebuild broken relationships. To celebrate a long-term passion and commitment to …
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The difference between an invoice and a statement

by Steven Bragg @ Articles - AccountingTools

Tue Mar 27 16:21:00 PDT 2018

A customer may receive an invoice and a statement from a supplier. What is the difference between these two documents? When a seller issues an invoice to a buyer, the invoice is related to a specific sale transaction where goods or services were provided to the buyer. Since the invoice relates to a specific sale transaction, it itemizes all of the information the buyer needs to know in order to pay the seller, including:

• Invoice number
• Invoice date
• Item description
• Item price
• Shipping and handling charges
• Sales tax
• Total amount payable
• Remit to address
• Payment terms and early payment discount terms (if any)

The intent of an invoice is either to collect payment from the buyer, or to create evidence of the sale (if payment was made in advance or in cash). If payment was made at the time of sale, the invoice is stamped "Paid" before issuing it to the buyer.

When a seller issues a statement, the document itemizes all invoices that have not yet been paid by the buyer, as well as partial payments. In this case, the intent is to remind the buyer that it has an obligation to pay the seller. Since the statement is more aggregated than an invoice, it provides less detailed information at the invoice level. It typically includes the following items:

• Statement date
• Invoice numbers
• Invoice dates
• Invoice totals

A more sophisticated statement will aggregate invoice totals by time bucket, so that overdue invoices are clearly shown.

Invoices are issued whenever a sale has been completed, so they may be issued every day and in significant quantities. However, statements are usually only issued at regular intervals, such as once a month, as part of a company's collection activities.

From the perspective of the buyer, the receipt of an invoice triggers an accounting transaction, which is an account payable. Conversely, the receipt of a statement is strictly informational - it does not trigger the creation of an accounting transaction.

It can be unwise to treat a statement as an invoice and pay items listed on the statement, since it is possible that the buyer already paid for those items, but the payment has not yet been reflected in the seller's accounting system. A better alternative for the buyer is to make inquiries about any invoices that are listed on the statement, and obtain more detailed information before issuing a payment.

There can be some confusion between the invoice and statement terms when dealing with credit card providers, since they issue a "statement" that is actually an invoice.

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Why every business should consider switching to electronic payroll

by rapid! PayCard @ rapid! PayCard

Thu Oct 05 05:37:57 PDT 2017

Due to advancements in technology, utilizing payroll checks is becoming an outdated form of payment. Automated payment through direct deposit saves time and money, enhances security1, 2 and can make payday easy for employers and employees. Yet, resistance to modern banking solutions like direct deposit and paycards prevent many businesses from progressing in the 21st century. Paycard technology is growing in popularity, and as the benefits of switching to electronic payroll compound,  it becomes more difficult for businesses to avoid trying out alternative payment methods such as the rapid! PayCard. Still not convinced? Here are 3 reasons why paycheck holdouts are making the switch to a more convenient, modern, and... Read More

Human resource accounting

by Steven Bragg @ Articles - AccountingTools

Wed Mar 28 16:21:00 PDT 2018

Human resource accounting involves the tracking of all costs related to employees in a separate report. These costs may include the following:

• Employee compensation
• Employee payroll taxes
• Employee benefits
• Employee training

Such an accounting system can be used to determine where human resources costs are especially heavy or light in an organization. This information can be used to redirect employees toward those activities to which they can bring the most value. Conversely, the report can be used to identify those areas in which employee costs are too high, which may lead to a reduction in force or a reallocation of staff away from those areas.

A more comprehensive human resource accounting system goes beyond the simple tracking of employee-related costs, and addresses the following two additional areas:

• Budgeting. An organization's annual budget includes a component, in which is concentrated all employee costs being incurred from across the organization. By concentrating cost information by its nature, management can more clearly see the total impact of human resource costs on the entity.
• Employee valuation. Rather than looking at employees as costs, the system is redirected toward viewing them as assets. This can involve the assignment of values to employees based on their experience, education, innovativeness, leadership, and so forth. This can be a difficult area in which to achieve a verifiable level of quantification, and so may have limited value from a management perspective.

From an accounting perspective, the expense-based view of human resources is quite easy - employee costs from the various departments are simply aggregated into a report. The employee valuation approach is not a tenable concept for the accountant, since this is an internally-generated intangible asset, and so cannot be recorded in the accounting system.

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Should Businesses Stop Accepting Cash?

by rapid! PayCard @ rapid! PayCard

Fri Aug 18 12:08:23 PDT 2017

Visa is paying out a jackpot to vendors willing to bet against old money, and roll the dice on cashless transactions. Visa will give $10,000 to 50 restaurants that pledge to go cashless. The new initiative, what Visa executive Jack Forestall calls “a journey to go cashless,” will incentivize vendors to rip off the bandaid of paper transactions and progress to a cashless system. The money can be used for marketing and updating point of sale technology to focus payment exclusively on credit and debit cards and electronic payment. Visa will select participating merchants in August. Cash remains the predominate method of payment, according to the Federal Reserve. A report... Read More

How Small and Medium Sized Businesses Can Go Big in Trade

by Jay Singer @ Global Hub

Thu Mar 15 12:38:50 PDT 2018

Small and Medium enterprises (SMEs) are the backbone of the world’s economy, yet they remain largely ignored by the industry and governments when it comes to developing new technology solutions or policies for global trade. SMEs account for 90 percent of the world’s businesses and are expected to contribute 600 million jobs by 2030.  Despite …
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The post How Small and Medium Sized Businesses Can Go Big in Trade appeared first on Global Hub.

Your Guide to Direct Deposit During the Holidays

by rapid! PayCard @ rapid! PayCard

Thu Nov 16 05:07:27 PST 2017

The holiday season is around the corner, which for some means eggnog and lights on display, but for others it means payroll delays. Automated payment through direct deposit is proven to be more efficient, secure and cost-effective than paper checks. Still, there are a few considerations to keep in mind when switching over to electronic payment — especially around the holidays. The holiday season is a double-edged sword: it’s likely the most expensive time of the year, but is also full of banking holidays which can affect the timeliness of direct deposit. Here’s why. What is the ACH and why does it matter? The Automated Clearing House is an electronic... Read More

Competitive advantage

by Steven Bragg @ Articles - AccountingTools

Tue Mar 27 14:27:00 PDT 2018

Competitive advantage is the ability of an organization to gain a material edge over its competitors. Having such an advantage can result in above-average profits or high levels of customer loyalty. There are many types of competitive advantage that a business can take advantage of, such as the following:

• Having a supply of unusually inexpensive raw materials
• Having access to a low-cost labor force
• Owning a patent that is key to a product category
• Having a large field servicing operation that can maintain products on short notice
• Having a large chain of retail stores through which goods can be sold
• Having a highly-regarded Internet store that experiences a large number of return visits
• Having a design team that routinely produces leading-edge designs
• Having a short product development cycle that pushes new products into the marketplace faster than what competitors can achieve

An example of how a core competency is used is to leverage a strong field service operation by noting the company's 24-hour response time when pitching a prospective sale to a customer. Another example is being able to offer a commodity product to a customer at an unusually low price, since the seller's workforce is located overseas, where labor costs are reduced by more than half.

Competitive advantage can be taken away by a determined competitor in one of two ways:

• Match and then exceed the advantage offered by the company; or
• Undermine the company's position by developing an entirely new competitive advantage that is highly prized by customers.

It is essential to maintain a competitive advantage, in order to sustain long-term profitability. This means that management must be aware of the advantage and continually reinforce it with ongoing investments in the targeted area.

A competitive advantage can even be achieved by unethical means, such as by offering bribes to the purchasing manager of a customer. Since other sellers are presumably not willing to engage in unethical behavior, the use of bribes can be seen as a competitive advantage.

How to: Get your card re-sent

by Conni @ TouchNote

Tue Aug 15 10:34:29 PDT 2017

We send 1,000s of postcards around the globe every day, each one made of thick, sturdy card and laminated on both sides to make it super robust for its journey. We’re confident that you and your recipients will love your cards, so each one is covered by our Happiness Guarantee. That means that, if you’re…

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The post How to: Get your card re-sent appeared first on TouchNote.

Mastercard and Eataly launch Eataly Pay to enable simple and safe in-store payments

by Adam Keal @ Global Hub

Wed Feb 28 03:18:33 PST 2018

At Eataly store Smeraldo, in Milan, Italy, everyone will be able to pay the bill with their mobile comfortably seated at their table Barcelona, February 28, 2018 ­— At Mobile World Congress, today Mastercard and Eataly announce a new partnership to roll out Eataly Pay app integrated with Masterpass, to enable multichannel, fast, simple and …
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The post Mastercard and Eataly launch Eataly Pay to enable simple and safe in-store payments appeared first on Global Hub.

Throughput definition

by Steven Bragg @ Articles - AccountingTools

Tue Mar 27 15:19:00 PDT 2018

Throughput is the number of units that pass through a process during a period of time. This general definition can be refined into the following two variations, which are:

• Operational perspective. Throughput is the number of units that can be produced by a production process within a certain period of time. For example, if 800 units can be produced during an eight-hour shift, then the production process generates throughput of 100 units per hour.
• Financial perspective. Throughput is the revenues generated by a production process, minus all completely variable expenses incurred by that process. In most cases, the only completely variable expenses are direct materials and sales commissions. Given the small number of expenses, throughput tends to be quite high, except for those situations in which prices are set only slightly higher than variable expenses.

For operations, throughput can be increased by enhancing the productivity of the bottleneck operation that is constraining production. For example, an additional machine can be purchased, or overtime can be authorized in order to run a machine for an extra shift. The key point is to focus attention on the productivity of the bottleneck operation. If other operations are improved, the overall throughput of the system will not increase, since the bottleneck operation has not been enhanced. This means that the key focus of investment in the production area should be on the bottleneck, not other operations.

For financial analysis, throughput can be increased by altering the mix of products being produced, to increase the priority on those products that have the highest throughput per minute of time required at the constrained resource. If a product has a smaller amount of throughput per minute, it can instead be routed to a third party for processing, rather than interfering with the bottleneck operation. As long as some positive throughput is gained by outsourcing, the result is an increased overall level of the throughput for the company as a whole.

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