Starting a bookkeeping business

Aug 12, 2014
imagesWith bookkeeping as an essential part of business life, it isn’t always in the best interest of the company to allow just anyone to take care of the financial position of the company. Having a bookkeeping company take care of the financial pressure can make your business more successful.

It is possible to start a bookkeeping company, and many of these become very successful if you have the right mind-set for the working environment. However, you still need to keep your own business up to date and this is even better if you allow your clients to pay for your service using a credit or debit card. A bookkeeping merchant account will give you more flexibility with your clients than ever before.

Understanding where to set up your business is important; it might be possible to work from home. Having a home office can save you money; not renting an office space when you first start-up the business is one less expense. Nevertheless, will it affect the clients that you can attract; will they be looking for a more professional service?

The premises that you run your business from will depend on many factors, including if your mortgage company allows “at home” businesses. Your local government and neighbors might object, too.

Ensuring that you have permission and hold the correct licences for the business you are running, then the choice is yours. However, working from home is a two-edged sword. Working late into your time, starting before normal office hours is great if you are getting paid and getting ahead with the work on the odd occasion, giving you time off when you want. If this starts to slip into daily practice it can become draining and your family will suffer too.

If you want to work from home, then providing your clients with an impeccable service is your best option. Give your clients the confidence to ensure their information is safe with you at your home and that you respect their need for confidentiality.

Some businesses experience greater volume of clients in an office-based situation rather than at home, but if your home based business works for you then don’t change unless you have to.

Need a Bookkeeping Merchant Account? Contact us today to set one up in as little as 48 hours!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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