UCC filing vs lien: What’s the difference? Before we dive deeper, I’d like to kick off with the fact that a UCC filing and a UCC lien cannot be used interchangeably — that’s a common misconception. Instead, they are differing elements that are part of the process of placing a claim on an asset. A…
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List of QuickBooks Expense Categories: Meaning and Uses
Expense categories help in keeping your expenses properly accounted for. Whether expenses are for marketing, office supplies, or utilities, proper categorization provides a clear financial snapshot and highlights high-cost areas. When you sign up for QuickBooks Online, you’ll see a default QuickBooks expense categories list to get you started. And as you continue setting up…
What Is Invisible Banking?
Invisible banking is a relatively new concept with the goal of making banking a seamless and natural part of everyday life without ever physically visiting a branch. This concept integrates financial services into websites and apps you already use, making banking easier and more convenient. While it began with personal banking, invisible banking has gradually…
The Small Business Guide to BBB Accreditation: Is It Worth It in 2025?
Getting BBB accredited can open doors for your small business. A BBB accreditation (aka a Better Business Bureau accreditation) is a certification from the Better Business Bureau that shows customers you’re a credible, good-standing business. While it isn’t a requirement, it’s something to consider setting your sights on for building your long-term brand reputation. And…
What Is Owner Financing & Who Is It Right For?
Owner financing describes a type of real estate transaction in which the seller of the property acts as the lender. In other words, the seller of the property agrees to provide ownership of the property to the buyer, and in exchange, the buyer makes loan payments to the seller instead of a traditional bank. Owner…
What Is an Amortization Schedule?
An amortization schedule is a table or chart that shows each loan payment throughout the life of the loan. These payments are broken down to show how much will be allocated to the loan’s principal and accrued interest charges, as well as the new loan balance after each subsequent payment. A schedule can be used…
What Is Artificial Intelligence (AI) in Banking?
Artificial intelligence (AI) has redesigned the entire ecosystem of banking since the 1980s, when computer scientists implemented machine learning specifically trained for the banking industry. It was designed to allow banks to launch automations capable of analyzing vast amounts of banking data in mere seconds with incredible accuracy. Since then, more improvements have been made,…
Returned Item Fee: What It Is & How It Affects Your Business
How a returned item fee works When your bank attempts to clear a check or an electronic payment through your account and your balance has insufficient funds to cover it, the transaction will be declined or returned. If the transaction is a check, it would be flagged as NSF and sent back to the bank…