Chelsea Krause is a writer who specializes in accounting, payroll, and small business loans. She has been with Merchant Maverick helping small business owners manage their finances since 2016. She is a QuickBooks Certified User and former eCommerce store owner. Her accounting expertise has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business. Chelsea graduated summa cum laude with a BA in English & Creative Writing from George Fox University and studied abroad at the University of Oxford as well. She currently resides in Boise, Idaho.
Looking for an accounting definition? We cover all of the basics in our quick guide to accounting terms, so you can quickly understand important accounting terms and get back to running your business.
Credit bureaus arose to help lenders quickly gauge the reliability of a potential borrower. In the past, you could go to the good ol' general store and the owner would know you, your character, and whether or not putting your items on "charge" (or on credit) was a good idea. That method may have worked in the past, when communities were small and isolated, but there had to be a better way moving forward. Thus credit bureaus were born.
Learn what invoice financing is, whether it’s right for your business, and how to find a great financing company to work with in our complete guide.
Lenders like to know exactly how you plan on using the money they may potentially lend to you. If you've made successful investments in the past, like purchasing additional equipment that increased your sales revenue by 25%, and are planning on purchasing more equipment with the loan your applying for, be sure to tell your lender! It will demonstrate that you're experienced in business and that you're likely to increase your cash flow (which a lender hears as "we're getting our money back").
Pros Positive customer reviews Good customer service Scalable pricing plans or free open-source plan available Advanced features like GEO fencing & biometric facial recognition Cons Some complaints of excessive features Minimum one-year commitment Some additional pricing fees are not disclosed UI could be more modern & better organized What is TimeTrex? TimeTrex, or TimeTrex Workforce […]
Pros Simple to use Very basic payroll solution Free payroll calculator Additional payroll tools available Cons No customer reviews & very limited online presence Limited security information What is eSmart Paycheck? eSmart Paycheck is a DIY payroll solution by C&S Technologies. eSmart Paycheck offers two main services: a completely free payroll calculator and a low-cost […]
While we wish U.S. Bank offered more information on its fees, eligibility requirements, and company security policies, what we do know is that U.S. Bank has a large number of helpful expense management features, unique travel features and perks, 1x rewards points, and a big selection of redemption options that definitely make U.S. Bank worth considering.
Overall, U.S. Bank has an impressive number of services and features, good APY rates on money market accounts, and a great knowledge base. Another perk of U.S. Bank is that the eligibility requirements are easy to meet and even sole proprietors can qualify.
Prime Alliance offers standard FDIC insurance with all accounts and extra FDIC insurance on some of its high-interest accounts. Prime Alliance makes its full privacy policy and security policies available on its website, though they are hard to track.
Rho does offer a decent set of business banking services. The lack of fees and competitive APY rates are an especially great touch. While Rho’s checking account doesn’t offer as many rewards as other online business bank accounts, Rho sets itself apart by offering corporate credit cards in addition to business banking.
The PayPal Business Debit Card is linked directly to your PayPal business account. You can make purchases from the card and make ATM withdrawals for a fee. When you use your PayPal Business Debit Card, you get a unique 1% cash-back reward that you usually only see with credit cards. The cashback will automatically get added as a credit to your PayPal balance “weekly as qualifying transactions settle.”
First Internet Bank has an impressive claim to fame being one of the first fully online banks. The company offers high APY for its savings accounts and a large array of business services, making it a good fit for businesses that want an online bank with lending and investing options available.
Learn how to set up Gusto payroll in this full video walkthrough. See the setup process step-by-step in real time so you can know exactly what you’re getting into before setting up your Gusto account.
You work hard for your business’s money, and your checking account should honor that with great perks, low fees, and helpful banking features. We ruled out the mediocre banks and only included business checking accounts with features and rewards that stood out from the rest.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
