Your Questions About Business Online Banking
Mark asks…
Does anyone know how a business can accept payments as a third party for billing companies legally?
We are currently using an online bill payment company which charges a fee for taking payments. We act as a local payment station. We set the service price, but not all of the bills are accepted by the online payment company. We want to know if we can use a business bank account and take payments ourselve and use our online banking to pay the bills. Does anyone know if this is possible or what it might take to make sure everything is done in a legal manor so as to not run into problems?
Jere answers:
Speak to the online bill payment company to see if that is acceptable, or contract with the individual companies the bills are from, to be a local payment station for them.
Mandy asks…
What Do I Need To Start An online Business?
I live in Arizona and I know some things depend on the state your in.
I want to know what licence and things do I need to start up a business online.
I would be selling consumer goods like bedding, electronics, and office supplies.
I would also be buying things wholesale.
Jere answers:
If you plan to incorporate then you need to register with the federal,state and city government. If you plan to run the business as a sole proprietor then all you need is a business license from your local city government. Some cities do not require you to get a business license until the business makes $3,000 to $4,000 so see what your local government requires for an e-commerce business.
Steps for getting started:
First and foremost write up a business plan.
1. Forming the business either through incorporating or as a sole proprietor. If you plan to incorporate then you need to get with your states Secretary of State to do this.
2. Find your SIC and NAICS code you will need either one or both for your business formation with the government entities.
3. Getting an EIN if required
4. Setting up a Franchise and Excise Tax and Sales and Use Tax account with the Dept of Revenue in the state you are in. You need to determine if you need one or both of these accounts. Just call the Dept of Revenue in your state and they are usually pretty helpful in answering all your questions.
5. Set up a business bank account or bank account with a DBA attached to it if you plan to do the business as a sole proprietor if you incorporate then a business bank account is what you need.
6. Set up a merchant and or paypal account. The merchant account you can set up through your bank and this allows you to take all major credit cards.
7. Build a website and get a domain name and hosting. You can either build your own website or have one built for you, some start out with a blog because it’s free and you can make it look like a standard website so take a look at this option and see if it will work for you. Just keep in mind if you use a blog you need relevant content in the body of the blog if it’s just full of product links then you will eventually get shut down. As far as building your own you can either buy software or use the online website builders. Using the software allows you to create your site how you want it just make sure the hosting provider you use will support the software, with the online website builders you will be limited to their templates and I believe you have to use their hosting but you can buy your domain name from anywhere and just direct to their server.
Research SEO for your website, SEO stands for Search Engine Optimization and you can read about this at any article directory. Once in the directory put in a search for what you are wanting to read about and you should get some articles to read up on. If your search comes up empty or not what you are looking for just reword the search until you do. The info is there you just need to use the right phrasing. If you are on a tight budget you may also look into free ways to market your site.
8. Get inventory.
9. Figure out how you plan to ship product. This all comes down to how you plan to handle inventory. Some people have their own and some get involved with companies that have the product and you sell it and they drop ship the product for you. This saves on you having to carry the product yourself and having unsold inventory in your possession. If you plan to do affiliate marketing then you need to sign up to the affiliate programs and get your code specific links to post on your site.
10. Marketing your website. Just because you publish a website doesn’t mean it’s visible to the search engines and the public at large so you need to submit the site to the 3 top search engines at the least and start marketing the site.
This is a basic order and some of these may overlap each other during the process but I hope this helps out. I’ve been through the routine and had to figure it all out myself. Just ask a lot of questions with the people you are dealing with to get things in order.
Daniel asks…
How long does it take for a bank to post a direct deposit that was sent on a Saturday?
According to Republic Bank, my federal tax return was sent via direct deposit to my bank account on Saturday, which I thought was strange since that’s not a business day. It is now Monday afternoon and my tax return is still not showing up in my bank account. I called my bank (TD Bank) and they don’t see it on their end either and told me to just keep checking my online banking. I then called Republic Bank and they confirmed that the deposit was in fact sent to my bank account on Saturday and they even confirmed my bank account #. They said that they can see on their end that the deposit has not yet been acknowledged by my bank and that the transaction is not yet complete. Is it possible that it may not show up until tomorrow (Tuesday) since the deposit was sent on a Saturday? I’m just really anxious to get my refund as it is a lot of money!
Jere answers:
A direct deposit takes 2 business days. So if Republic Bank sent it on Saturday, that was on Monday’s business day. You should have it on Wednesday.
Donna asks…
What are high paying jobs available as a mathematician?
I’m an undergraduate right now and planning on going to graduate school for math, and my true interest is to be a theorist but unfortunately it doesn’t provide much income. I’d like a full time job, possibly in business or industry, that provides a significant income. Some individuals I know work as statisticians for online banking companies and do very well. What other jobs are there?
Jere answers:
Visit BLS.gov/OOH
it is Occupational Handbook which
describes all occupations. What is needed
pay scales and growth
read study apply info from
48 days to work u love Dan Miller
What colour is your parachute
both will help u so u do not go
the wrong way.
Steven asks…
How to see how much money is in a business account?
I am the new treasurer for my student organization and would like to find out how to view our account information. I do not at the moment have access to our bank’s online banking system. Do I just call or go in person, and how would I ask and what would I need?
Thanks,
Jere answers:
If you are authorised to operate the business account, you can go to the bank and enquire about the balance in the account. You can also ask for a written statement of account.
.
Powered by Yahoo! Answers