Turnover is the number of times that an average inventory of goods is sold during a fiscal year or some designated period. Care must be taken to ensure that the average inventory and net sales are both reduced to the same denominator; that is, divide inventory at cost into sales at cost or divide inventory at selling price into sales at selling price. Do not mix cost price with selling price. The turnover, when accurately computed, is one measure of the efficiency of a business.
Below, you'll find extensive information on leading
starting a business articles and products to help you on your way
to success.
Business Merchant Account - Get One By Joshua Feinberg Business merchant accounts are critical to have if you want to accept credit cards. Business merchant accounts are not limited to those computer consultants reselling products either. They are a good idea for any sale, especially when you are selling to new clients.
If you have a merchant account you will not have to chase down outstanding debt. The cost is not that high and you don't have to buy traditional credit card processing equipment. Now they have what is called a lab terminal, which allows you to use your web browser to manage the transactions. The systems are completely secure and most merchant account providers team up with larger companies that offer great advantages.
Costco's Business Merchant Account
One of the biggest secrets we learned about merchant accounts is that Costco provides a fantastic deal on credit card processing through Nova Systems. It's such a great deal it can actually pay for your entire Costco membership. Here are some particulars:
All of the monthly statement and gateway fees are waived - savings of $25 - $50 per month.
Very competitive discount rates on Visa and MasterCard.
You can add on processing for American Express
and Discover - you will find that even though American Express transaction fees are higher, it is a very popular card with small businesses.
The charges billed are transferred quickly and directly into your bank account - this is a lot faster than doing your billing or invoicing once a week or so.
Paypal
Paypal is a popular alternative to traditional merchant accounts. Paypal is very easy to set up and the set up is free. There are restrictions though on what you can do and how you can withdraw your money. The largest drawback is the negative connotation of being an ebay related service where people sell garage sale stuff as a hobby.
The Bottom Line on Business Merchant Accounts
Business merchant accounts will help you get paid faster. There are fees involved but the customer convenience and no hassle approach to receiving your money make it worthwhile. There are different merchant accounts available so do your homework and choose the one that makes the best sense for you.
Copyright MMI-MMVI, Small Biz Tech Talk. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance} Joshua Feinberg helps small biz tech consultants get steady, high-paying clients. Learn how you can too. Sign-up now for Joshua's free audio training program that shows you how to use field-tested, proven Small Biz Tech Talk tools
We strive to provide only quality articles, so if there is a specific
topic related to business that you would like us to
cover, please contact us at any time.
And again, thank you to those contributing daily to our starting a business
website.
