Even just a few years ago, shopping was straightforward: You entered a store, picked out your products, handed the cashier some money, and left with your purchases.

But today? What does it take to learn how to sell on online marketplaces? Thanks to online shopping, the process can look quite a bit different. In 2020, over 80% of consumers across the globe shopped online, proving that online eCommerce transactions are booming. Digital sales have even previously eclipsed volumes done in brick-and-mortar, general merchandise stores.

Online marketplaces make up a big piece of the digital shopping pie. For example, these platforms making up half of the online shopping orders in 2019.

So, for retailers who want to get in front of more customers and land more sales, all the focus can’t be placed on their independent eCommerce websites. Certainly, online marketplaces deserve some attention too.

Never sold on a platform like Amazon or Etsy before? Fortunately, getting up and running is relatively easy, especially with this guide in your back pocket. 

There’s no shortage of platforms that you could choose to sell your products on. Take comfort in the fact that you don’t need to be everywhere all at once. You’re better off selecting the platforms that are the best fit for your business, products, and audience.

Some of the most popular platforms worth considering include:

• Amazon: Best choice for sellers who want to get in front of a large (albeit competitive) audience
  
  
• eBay: Best choice for sellers who have used or unwanted items to sell
  
  
• Etsy: Best choice for sellers with handmade or vintage items to sell
  
  
• Facebook Marketplace: Best choice for sellers who have one-off items to sell locally

The above criteria can help you narrow down which marketplaces are the right fit for you. But, if you’re still stuck, a few things to consider include:

• What types of products do you sell? For example, someone who makes handmade earrings is an excellent fit for Etsy, while a coffee brand might succeed on Amazon.
  
  
• Where is your target market shopping? You don’t need to have super formal market research to figure this out. Even asking your existing customers where they prefer to shop online can help you zone in on the platforms that appeal most to your target shoppers.
  
  
• What fees should you consider? Most online marketplaces will have seller fees. So, it’s worth exploring those to know what you’re signing up for (and so you can price accordingly). 
  

Many retailers find success with an omni-channel or a multi-channel approach. These industry terms mean using several sales channels at once. For example, you might sell your aprons on your eCommerce website, Etsy, and Amazon. That’s multi-channel selling, which helps you build your brand and get in front of even more customers.

Once you know where you want to sell, it’s time to get your seller account set up. Again, most marketplaces are intuitive. The platform will walk you through how to start your account step by step. 

For easy access, here are detailed directions from each of the popular platforms we’ve already discussed: 

• How to sell on Amazon
• How to sell on eBay
• How to sell on Etsy
• How to sell on Facebook Marketplace

Setting up your accounts will take a little bit of time. It’s wise to be thorough and detailed from the get-go. When setting up your account and profile, including entering your bank information, writing a bio if needed, and filling in all the requested fields, take the time to get it right the first time. Doing so will ensure you’re ready to start making sales. Above all, proper setup prevents any significant headaches or hang-ups down the line. 

With your accounts set to go, it’s time to turn your attention toward your specific products. It will be challenging to set aside your overall business and brand during this time.

For every product you choose to sell on an online marketplace, you’ll create a unique product listing. The listing is where you’ll describe the item, state a price, including any photos, and generally provide the information that shoppers need when deciding whether to make a purchase. 

The specifics of your product listings will vary depending on what platform you’re selling on. Above all, it’s essential to be aware of and familiarize yourself with any guidelines or requirements you must follow. 

Consider the weight and size of your products. Oversized products will cost more to ship, so you will want to consider that. Handling the items is another cost that includes item storage and packaging materials. There are handling fee calculators and formulas to help you determine how much is appropriate to charge.

There are a few best practices that can help you regardless of which marketplace you’re using: 

• Showcase high-quality product photos:
Online shopping means that potential customers can’t see or touch your product. Product photos are the next best thing, so they need to be high-quality. Ensure that they’re clear and taken against a plain background so that shoppers can get a good look at your product. Remember also to take photos from multiple angles and distances so peop le can get various perspectives.

• Incorporate keywords into your description: 
Much like social media, online marketplaces use a complex algorithm to decide which products appear near the top of search results. Therefore, one of the best ways to set your products up for success is to incorporate relevant keywords into your product description. Keyword Tool can help you find the right keywords, and they even offer specific tools focused on keywords for Amazon and eBay.

• Choose the right product title:
Check out any online marketplace, and you’ll see that product titles aren’t short and vague. But, again, this comes back to keywords and the algorithm. Including keywords in your product title can help your products rank higher. So, rather than simply naming your product “apron,” you might call it “unisex barbeque apron with pockets and adjustable straps.”

• Set the right price:
Pricing your products is complex and deserves an entire lesson on its own. It would be best if you considered the cost to make your goods. In addition, it’s also worth checking the price of competitive products on the same platform. If your products don’t fall within a similar range (or lack a standout feature that warrants a drastically different price), you might want to reevaluate your pricing structure.

There are plenty more tips and best practices that are specific to the marketplace you’re selling on. So, do your research to ensure you’re making the absolute most of each listing.

Online marketplaces naturally have enormous audiences. Millions and millions of people use the platforms daily. But that doesn’t mean they’re a “build it, and they will come” opportunity for retailers and business owners.

Once your account is up and running, and your product listings are live, you must explore other avenues to get more eyes on your product. Options include steps like:

• Using the platform’s ad options or sponsored listings to promote your products
• Sharing your product listings to your brand’s social media accounts
• Asking for customer reviews, ratings, testimonials, and referrals 
  

Don’t assume that having a presence on online platforms means the sales will roll in on autopilot. Like anything else with your business, you need to invest elbow grease in promoting your products and refining your strategies actively.

When it comes to refining your presence on online platforms, the smartest thing you can do is monitor your performance. Online marketplaces include analytics to help you understand your traffic volume, top traffic sources, top-performing products, and more.

Review that data frequently to understand what adjustments you need to make. Questions to ask yourself include:

• Are certain products selling more than others? Why? 
• Are your target keywords performing as well as you thought? 
• Are your prices still accurate and relevant? 
• Are you receiving any negative reviews or feedback? 

There’s plenty more that you could dig into, but those questions will give you a starting point and help you understand what’s working well—and what needs to be changed. 

Online marketplaces are popular among shoppers. Plus they’re approachable and accessible for all types of sellers, from new business owners starting a wholesale business to seasoned online retail sellers. You don’t need a custom website or endless eCommerce knowledge to get up and to run. On the other hand, you need to follow the steps above to create your account.

For retailers who want to strengthen their brand, reach more customers, and leverage several sales channels, it’s hard to overstate the importance of marketplaces. 

So, you have a starting point on how to sell on online marketplaces. And when online marketplaces continue growing in popularity, ask yourself this: Can you afford not to have a presence there?

Learn how eCommerce can keep your business strong here. Consider the advantages of an online shop here. For background on all things accounting software related, visit www.accountingsoftwareworld.com. If you’d like to learn about QuickBooks or other accounting products’ eCommerce capabilities shop here.

It’s time to flip the calendar yet again, and after another uncertain year, many of us are excited to put 2021 in the rearview mirror. One reason for optimism in 2022 is technology’s continued development and deployment. In this article, we examine – in no particular order — five technologies that could prove to be the most impactful ones in 2022.

Indeed, 5G cellular connections are not new. However, 5G deployment is increasing in scope and scale. Consequently, many cellular customers – particularly those in urban and suburban areas – presently can access 5G connections. Further, most cell phones purchased since late 2019 can connect to 5G networks. Today, those who have access to 5G connections and have a device capable of connecting to 5G networks already can realize the benefits of 5G cellular networks.

Perhaps the greatest of these benefits are 1) faster connection speeds and 2) reduced latency. Specifications for 5G networks call for transmission speeds of up to 20Gbps. Putting this into perspective, 5G can transmit at speeds 10 to 20 times faster than existing 4G LTE connections and 20 times faster than connections provided over fiber. These speeds, coupled with 5G’s reduced latency, offer faster downloads and reduced buffering over cellular connections. As a result, 5G further enables a “cut-the-cord” environment for individuals and businesses alike.

Despite the name, Robotic Process Automation (RPA) does not involve physical robots invading your office and replacing human efforts. Instead, RPA consists of software-based tools automating data movements throughout a particular workflow. RPA does not replace human thought and critical thinking. Instead, it automates rote, repetitive tasks. In turn, this relieves humans of performing these tasks and frees up time to focus on tasks that require critical thinking.

Many of the RPA tools available today are “no-code, low-code” solutions. This feature means that many users can implement RPA workflows without requiring assistance from their IT staff. For example, using Zapier, team members can link data from many popular Cloud-based solutions into other Cloud-based solutions. To illustrate, you can use Zapier to link data from a Shopify-powered e-commerce platform into QuickBooks Online, thereby avoiding manually re-keying data into the accounting application.

One of today’s more popular RPA tools is Microsoft’s Power Automate platform. With this tool – a component of many Microsoft 365 subscriptions – end-users and power-users alike can create sophisticated and powerful automated processes. Power Automate’s platform contains hundreds of pre-built templates that you can use right away. Further, it offers connectors to many non-Microsoft tools and applications, enabling many easy and inexpensive automated workflows across a wide range of applications and services. Therefore, Power Automate-based RPA will grow significantly in 2021.

Accountants, auditors, and business professionals of all stripes continue to look to data analytics to help them understand business performance. Commonly, experts in this field refer to four types of data analytics.

• Descriptive analytics refers to measures that define and describe what happened in the past.
• Diagnostic analytics help us understand why we achieved a specific set of results.
• Predictive analytics tell us what to expect in the future, subject to specified inputs.
• Prescriptive analytics help us identify appropriate “next steps,” often when trying to achieve a specific set of results.

No matter the type of data analytics you use, an increasing number of options for generating these tools are available in applications we use every day. For example, Excel’s Data Analysis Toolpak can automate calculating many measures used in data analytics environments. Likewise, Microsoft’s Power BI Desktop application contains valuable features to calculate statistical measures and build forecasts based on historical data. Similarly, Zoho Analytics can also create numerous measures to advance your data analytics efforts. Suffice to say, those seeing to understand and improve business performance should consider using a data analytics tool to propel their efforts.

Artificial intelligence (AI) is closely related to data analytics, but these tools are different. With AI tools, you can use the underlying technology to identify issues you might otherwise miss. For example, Excel’s “Analyze Data” feature – found on the Home tab of the Ribbon – can identify and display hidden trends and relationships in relatively large data sets. Likewise, if you have access to a paid subscription in Power BI, you can upload a dataset into the Power BI Cloud. There, you can use Power BI’s Quick Insights feature to identify trends and relationships that you may not have realized existed. This powerful feature is an excellent example of a powerful AI tool you can use on transactional data.

However, AI extends to other types of data and applications too. For example, Grammarly is a terrific AI-based tool to check your word processing and other text-based documents. More than just another spell-check tool, Grammarly uses AI to analyze your tone, grammar, punctuation, clarity, and engagement to help you write more effectively. Similarly, PowerPoint now offers AI features to recommend edits to your slides to enhance their effectiveness.

And then there’s blockchain. Some describe blockchain as “a solution in search of a problem,” and there’s probably some truth to that. At its’ core, blockchain is a highly secure, distributed database that users can adapt for many different uses. To date, blockchain’s most visible use has been as the core technology underpinning cryptocurrencies. But, doubtlessly, blockchain is adaptable to a multitude of other applications. For example, blockchain could record deeds, issue insurance binders, and potentially even secure votes in elections.

Perhaps 2022 will be the year when blockchain expands beyond cryptocurrency and begins to move mainstream, and there are some signs it is moving in that direction. For example, spending on blockchain solutions in 2022 will approach $12 billion. Further, Forbes reports that blockchain can help secure Internet of Things devices, perhaps those deployed in concert with 5G rollouts. Likewise, in the same article, Forbes indicates that pharmaceutical companies could use blockchain to prove the authenticity of vaccine shipments, including COVID-19 vaccines.

Every New Year causes most of us to think about how the next twelve months might unfold. From a technology perspective, 2022 will be an exciting time. Undoubtedly, some of the technologies discussed here will move faster than predicted, and some will move slower. Further, other technologies not mentioned in this article will become media darlings and create much excitement and buzz. However, for the technologies likely to impact us the most in 2022, focus on the five discussed in this article. 

Learn more about the technologies mentioned above by participating in a K2E Canada learning option. CLICK HERE for more details.

Finance and Accounting professionals have faced a lot of risks and challenges from day one. However, during this pandemic, the risks and challenges are at a whole new level. Meanwhile, these 5 effective cybersecurity solutions for finance and accounting professionals should help mitigate the risk.

Further, Finance and Accounting professionals need to know what they face and the challenges to the profession and the data protected. Employees working in the profession must be aware of the risks & challenges and how to overcome them. In addition to that, we will suggest a few cybersecurity solutions.

Cybersecurity is also known as information technology security or electronic information security. Above all, cybersecurity helps defend web servers and electronic devices like mobile phones, computers, etc., from cyber-attacks.

Businesses use cybersecurity to protect their data and confidential information from unauthorized users. Unfortunately, due to the global pandemic, the cybersecurity crime rate has reached a new level. Therefore, every industry must protect its software and hardware with the best cybersecurity to avoid such incidents.

One way to help with cybersecurity is to use a proxy server. A proxy server acts as a gateway between the user requesting resources and a server providing the resources. For example, a Residential proxy is one type of proxy server with a unique IP address with a physical location. Proxy servers are a great way to mask your actual IP address while surfing the internet.

Before you learn about cybersecurity solutions, it is better to know about the risks and challenges faced by Finance and Accounting professionals. Consequently, understanding the risks faced gives one a clear idea of overcoming them with different solutions.

An important responsibility of the Finance and Accounting profession is to protect the privacy of their clients. But unfortunately, there is a huge possibility for the finance and accounting profession to lose this crucial information of their clients quickly. One of the reasons is the poor execution of cybersecurity protections.

If you don’t safeguard financial details, clients could lose their trust in the firm. Therefore, it is a significant task for the firm to protect clients’ information at any cost. Failing to do so could ruin the firm’s reputation.

With the growing exposure of client data, finance and accounting professionals must prevent their systems and networks from malware attacks. Additionally, as the crime rates keep increasing, businesses need to be mindful of malware attacks as they can easily breach systems and data.

Massive ransomware attacks happen continuously. Therefore, it is best if the profession is cautious and prepared for it.

Reputation loss is the most important and common risk for the accounting profession. Losing a company’s reputation is like losing everything. In a fast-growing and competing world, businesses need to protect their reputation.

Since exploitation of reputations is easy, people must take calculated steps to avoid such discrepancies.

Hackers with little knowledge can hack any computer or mobile device. Hacking is another risk faced by the finance and accounting profession. All employees must have updated systems and check for vulnerabilities often.

Just one tiny mistake could hand over all the confidential data to the hackers. And all it takes is one mistake.

To avoid facing such risks or prevent these risks from happening, one should use the Cybersecurity solutions mentioned below.

We have identified a few risks and challenges faced by the profession. Consider these possible cybersecurity solutions and approaches.

As mentioned earlier, hackers are now everywhere. It is the responsibility of the firm to safeguard its privacy and data. So, it would be best if you had a proper firewall or proxy server to help protect your company’s data and its clients.

A firewall or proxy server will be a gateway between your company server and the external servers trying to gain access. It identifies who and who is not permitted access to confidential details.

Malware attacks can happen at any moment and repeatedly. So how do you stop such cyber-attacks from happening? First, IT teams must prepare businesses. Internal controls established by accounting professionals with preventive measures are a must.

The firm can also conduct a mock scenario for people to be prepared and appropriately trained. In this way, employees get ready and develop a plan for when the actual situation happens.

There must be a good password and authentication process to log into a server with confidential data. Formerly, the best practice was for clients and employees to change their passwords frequently. Now, a long password is changed when a compromise is suspected. In addition, password managers can automatically generate long passwords. That way, hacking is more complicated.

Team members must employ strong passwords. Better protection comes from two to three-step or multi-factor authentication (MFA). We recommend MFA for the profession’s safety needs. In addition, MFA makes it more difficult for hackers to hack into the system.

Having an encrypted system makes one sure that confidential data is safe and secured. Data should not only be encrypted while emailing or in transit. All data must be encrypted even while the system is not in use and is at rest to comply with breach reporting regulations.

Encrypt every device in the firm. That way, there is a minimum possibility for the data to get out of hand.

Finance and Accounting professionals need to have a proper plan to back up operating systems, data, and devices. A comprehensive backup plan keeps data in a safe place. In addition to that, the data is accessible at times of any discrepancies at the firm.

Thus, finance and accounting professionals should have proper and regular backup plans to safeguard their pieces of information.

We have discussed cybersecurity and its risks. With the solutions mentioned above, you can minimize the risks from happening. These 5 effective cybersecurity solutions for finance and accounting professionals should help mitigate the risks. Make sure that you put them to good use to increase the safety of your business.

Be careful out there!

For more information, consider our article on What Has The Pandemic Taught Us About the Importance of Contingency Planning? Additionally, consider our courses on Backup and Business Continuity/Disaster Recovery Planning.

Windows 11 debuted to the public on October 5. So far, most of the upgrades to Microsoft’s newest desktop operating system have proceeded smoothly. Yet, that does not translate into a blanket “go for it” policy for accounting and financial professionals. Therefore, as discussed below, we urge caution before upgrading to Windows 11 due to technical support availability.

As every business professional knows, ensuring the availability of technical support for all essential line-of-business (LOB) applications is critical. Notably, without tech support, how can a business get back up and running quickly if an application runs slowly or crashes? Therefore, situations such as these require that technical support is available for all critical applications.

To illustrate, imagine a public accounting firm attempting to generate tax returns during the height of tax season. In that environment, time is of the essence! Assume the firm upgraded to Windows 11, but their tax software publisher did not support the software in that environment. How would the firm complete all necessary tax returns if the tax software frequently crashed? Further, would the firm be able to file extension requests electronically on behalf of its clients? For such reasons, before you upgrade, please verify that the publishers of your critical applications support them on Windows 11.

Of course, not all Windows applications presently offer technical support if you install the application on a Windows 11-based computer. To illustrate, consider the table below. It shows the system requirements published by each company as a proxy for the availability of technical support. Specifically, you will note the simple fact that many publishers do not yet support their software on Windows 11. Of course, this information can change quickly. Therefore, you should verify the availability of technical support in Windows 11 environments with your software publishers.

Fortunately, there are many similarities between Windows 11 and Windows 10. Therefore, it is improbable that most users will experience any problems when running unsupported software on Windows 11. However, can you afford to take that chance? Keep in mind, if you run any unsupported applications on Windows 11, you will likely be on your own for technical support. Moreover, you may even find that you need to roll back to Windows 10 – a time-consuming and unpleasant task!

Just over six weeks since its introduction, Windows 11 generally receives very high marks for compatibility, speed, and security.  Accordingly, these accolades may tempt many into wanting to upgrade as soon as the opportunity presents itself. Obviously, for many, that can be a good decision. However, for those who need to run software not yet supported in a Windows 11 environment, the upgrade could be very costly in terms of slow processing, downtime, and technical support. Therefore, although we are generally bullish on Windows 11, check for the availability of technical support on your critical applications before you choose to upgrade.

You can learn more about Windows 11 and other technologies by participating in a K2 Enterprises training session. 

Cryptocurrency is full of promise. However, most observers agree that promise remains unfulfilled and many doubt cryptocurrency will ever live up to its potential. This article examines five issues that hold back cryptocurrency and keep consumers from accepting it widely.

Perhaps no single factor impacts the acceptance of cryptocurrency more than lack of trust. Consumers are accustomed to assets, their government, or a combination of the two supporting their currency. However, as currently constituted, alternative currencies such as Bitcoin have no such collateral or promises backing them.

Presently, there is at least an emerging discussion on government-backed cryptocurrency. However, there is little practical movement in this area to date. And for many consumers, this creates the challenge of trust. Consumers – particularly those in developed countries – expect their governments to back or guarantee their currency. Without such backing, many are distrustful of an alternative currency and will not embrace it. Yet, governmental support is somewhat contrary to some of the fundamental premises of crypto and the blockchain technology on which it rests. Therefore, barring a breakthrough event or technology, we should likely expect this issue to remain a concern for the foreseeable future.

In addition to the trust factor, taxation is another issue holding back widespread crypto adoption. As you likely know, cryptocurrency is subject to significant valuation swings. Therefore, consumers may realize valuation gains and losses under current tax laws when using cryptocurrency to pay for purchases. Further, as you might expect, these gains and losses are reportable under current tax laws. Additionally, anyone who trades cryptocurrency – similar to trading stocks – realizes capital gains and losses that they must report on their income tax returns.

Consumers need not worry about reporting gains and losses on currency exchanges when using traditional currencies in most countries. Therefore, continuing to use existing currencies to settle debt is more convenient than using crypto and other alternates. Moreover, consumers do not have to worry about burdensome tax reporting issues when they use traditional currencies. For these reasons, the specter of tax reporting will continue to hinder cryptocurrency from becoming mainstream.

Financial reporting is another issue currently hindering Bitcoin, Ethereum, and other alternative currencies. Specifically, many consider cryptocurrency similar to a foreign currency and, therefore, reportable as “cash” on financial statements. However, current accounting standards hold that cryptocurrency is not cash. Instead, most companies reporting cryptocurrency treat it as an intangible asset on their balance sheets. Currently, businesses should report intangible assets at fair market value. Therefore, the classification of cryptocurrency can create some significant swings on the balance sheet. Of course, these changes relate to the valuation swings cryptocurrencies experience. With cryptocurrencies volatility, shareholders could see substantial valuation changes from one period to another.

In addition to the three issues outlined above, another hindrance to cryptocurrency is transferring it to other parties. Because of its electronic nature, you cannot write a check to transfer cryptocurrency to another party. Likewise, you cannot hand someone a paper representation of cryptocurrency, such as we would a $20 bill. Instead, you must access your digital wallet and electronically transfer the cryptocurrency to another party. Although this process is not necessarily challenging, it does create friction that does not exist with traditional payment processes.  

Further, you must take appropriate steps to ensure that you never lose access to your digital wallet. The most common issue here is forgetting the password you use to access that wallet. If you lose access, you likely will have permanently lost access to all your cryptocurrency in that wallet! Several estimates indicate approximately 20% of all cryptocurrency is “locked” in wallets that the owners can no longer access.

The last of the five factors holding back crypto from widespread acceptance is volatility. Importantly, those who actively trade cryptocurrency – such as day traders – actually appreciate cryptocurrency’s volatile nature. For day traders, volatility in an asset’s price is how they can make large profits in short timeframes. However, consumers disdain volatility. Consumers want to have stability and predictability in prices, and volatility in their chosen currency does not provide that. Therefore, most consumers will likely continue to shy away from volatile cryptocurrencies as replacements for traditional currencies.

Several developments could help to reduce a volatility. For example, if a cryptocurrency has “hard assets” backing it, it would likely be less volatile than one with no backing. Likewise, a cryptocurrency backed by a steady government would be more stable than one without such endorsement. In turn, this backing would further ease consumer concerns.

Over a dozen years since its’ introduction, the promise of cryptocurrency remains largely unfulfilled. In theory, cryptocurrencies appear to be viable options for traditional currencies. However,  several factors currently restrain this option from becoming accepted widely by consumers and businesses alike. Among the most commonly-cited issues are the five discussed in this article – trust, taxation, financial reporting, transfer, and volatility. As markets and governments solve these issues, we should expect cryptocurrencies to move into the mainstream. However, until that time arrives, cryptocurrencies will likely remain speculative and on the fringe of mainstream society.

You can learn more about cryptocurrency and other emerging technologies by participating in a K2 Enterprises learning event. For more information, click here.

The Human Resources field is fast-changing. As a result, with more people competing for the same roles, it’s up to you to assess who fits your company. These 5 Small Business HR Trends will help you position your firm better to get the right people.
 
Knowing what works in human resources can give you the edge you need. Finding the right people for your company means knowing where to look, what to do, and the risks associated with the search.
 
Here are 5 small business HR trends you need to look out for. All these can promote your growth and give you the best talent pool that fits your needs.

As you’re considering your onboarding and offboarding process, there are a few important elements that can make the entire process easier. From expanding internal talent mobility to longer onboarding journeys, the most valuable trend you will start seeing is the need for solid pre-start training and stronger offboarding.
 
For onboarding, pre-training is vital to accelerate your fresh hire’s productivity index. HR departments are looking to improve pre-start training, as well as helping their talents connect through more extended admin and team introduction. You can also expect the company to look towards more virtual meetings for their growing remote workforce.
 
As for offboarding, you want to make sure that the entire process of parting with employees is as sensitive and amicable as possible. If you’re a small business, you want your ex-employees to remember your team fondly, even in the face of separation. In addition, you want ex-staffers to help spread a good reputation, especially if you plan on headhunting.

The pandemic has changed the way people look for a job. Human resources needs to keep up with this process. Your HR team needs to do whatever it can to ensure you’re never short-staffed for the productivity you need for a small business. With that said, there are a few changes to make now.
 
You would need to consider pulling in part-timers for starters, especially if you have seasonal peak business traffic. Even hiring freelancers can be helpful if you need a certain level of agility if the hiring cycle is taking too long. Freelancers are great for project-based tasks, as well as getting a quick infusion of expertise without outright hiring.
 
For small businesses, especially if you’re a financial organization, you need to remember that proper compensation drives headhunting efforts. You want to be different in a new normal where people understand their value and won’t take below the minimum. So, keeping a good balance of compensation and job security needs delicate focus.

Social media has become one of the most significant places to hire some gems in the rough willing to work for small companies. Further, social media hiring is on the rise. It can help smaller businesses build wider networks. The challenge to human resources is how to utilize this process while avoiding its legal and ethical issues.
 
The problem with hiring in social media is the potential bias that may come out from seeing the job searcher’s profile. Of course, your attitude can be anything taken from Facebook, Twitter, or LinkedIn, but an implicit bias may form from seeing a potential employee’s online behavior.
 
As we know, lifestyle, age, gender, and race are among the protected classes by law. There’s also the potential to perform pre-employment background checks by accident, which can be an issue under the Fair Credit Reporting Act.
 
At the same time, you want to be careful with the potential for negligent hiring. On the other hand, you want to make sure that the person you hire does not become a trouble for the business. This careful balance is a must if to have an impartial hiring process for finding suitable candidates.

Before the pandemic, one of the growing trends was testing for office setups that maximized productivity. Unfortunately, many of these were fads with no long-term value or events that only satisfied visuals and nothing more. Now, small businesses need to take good care of the health of their employees - both physical and mental.
 
Employees are experiencing more stress than ever. The pandemic increased people’s pressure, together with familial concerns, job security, and productivity expectations. These make people feel burnt out and, together with potential health issues, create a dip in their well-being.
 
Apart from building skills, human resources teams now need to commit to helping their employees’ holistic health. A holistic view includes improving their mental health and teaching them additional life skills that enhance their outlook. Whether it’s better teambuilding, financial planning, or promoting connectivity, helping employees feel engaged can improve overall retention.

HR departments are going away from paper trails, printed documents, and physical folders. Instead, companies are pushing towards automating their systems via cloud, with automation towards workflow, recruitment, and leave management software. As a result, human resources are leaning more on technology, and it’s not changing any time soon.
 
Competing for the attention of valuable talent means faster processing and digitizing as much as possible. Moving to the cloud as soon as possible can help give you the level of agility your small business needs to compete. Small business HR needs efficiency, as well as better technological innovations.
 
Cloud-based automation can improve employee attrition while reducing costs for the business. It also helps with the general compliance requirements of the company, including management of legal requirements for hiring.
 
Privacy requirements and business regulations are ever-changing, and consistent compliance is possible with the right technology.

Now is the time for human resources teams to inspire their teams. You can push for better practices that will help towards better retention, brand reputation, and overall worker health. As you cultivate more meaningful relationships for your small business inside out, it is up to your HR to drive its recruitment to the next level. We are confident that these 5 Small Business HR Trends will help you position your firm better to get the right people.
 
Follow these trends and make the most out of the people you hire. In today’s world, it’s hard to get the right people to do the job. As companies recover, you want to be on top of things from onboarding to offboarding. Each extra mile you take pays dividends for brand growth down the line.
 
 
For more information, consider our article on A Financial Survival Guide for Small Business Entrepreneurs. See your HR software choices at K2’s CPE website Accountingsoftwareworld.com. Additionally, consider our CPE courses on Accounting Software.

Managing a small business amid the coronavirus can be frustrating and feel nearly impossible. As a small business owner, you need tips for overcoming pandemic challenges. This article will provide 9 tips for overcoming pandemic challenges. Fortunately, there are a ton of great resources that can help you navigate every challenge that crops up. With these tips, you can steady and even grow your business regardless of the pandemic’s effects on the economy.

While many label the pandemic’s effects as a recession, it is unlike any other recession in history. And some sectors continue to grow despite the pandemic’s crippling impact.

1. Learn the ins and outs of adapting to the COVID-19 era.
2. Familiarize yourself with digital marketing to attract customers.
3. Track sales trends—including customers’ e-commerce habits.
   

Adapting to the coronavirus era involves incorporating new tools and techniques to save your business time, money, and effort. Test out these programs and procedures to see if they are right for your business model.

1. Incorporate automation to save staff hours and effort.
2. Use technology to support accounting and other facets of the business.
3. Add free tools to your business management arsenal.
   

If you have a physical retail location, using a prolonged closure to make store upgrades is a smart tip. Think about these upgrades during the COVID closure.

1. Decide on a remodeling plan and act in stages.
2. Make easy, impactful cosmetic upgrades like cheap carpeting and fresh paint.
3. Know about retail restrictions and proper guidelines for reopening.
   

When it comes to running a business during the coronavirus, it helps to know what you are up against and to have a list of tips to fight the COVID-19 pandemic that works. As a small business owner, we hope you find these 9 tips for overcoming pandemic challenges helpful. Implementing new tools and techniques can help propel your business beyond expectations, even during the shutdown, and taking steps to improve your customers’ in-store experience is another smart way to pass the time during a closure. The best part is that all these tasks can help your business survive - and even thrive - despite the recession.

Microsoft officially unveiled Windows 11 on October 5. The latest update to the Windows operating systems offers some subtle changes and some that are not so subtle. As a result, many users and technology teams might think upgrading immediately is the right strategy. On the other hand, others will find that deferring the upgrade is the wiser choice. In this article, we examine four critical considerations associated with the decision to upgrade to Windows 11.

As you have probably heard by now, Windows 11 requires a relatively well-equipped computer to run in a fully-supported environment. More specifically, the following are the critical hardware requirements for Windows 11 to run in a supported environment.

• 1 GHz or faster 64-bit multi-core processor or System on a Chip
• 4GB of RAM
• 64 GB or larger disk drive
• UEFI, Secure Boot capable
• Trusted Platform Module (TPM) version 2.0
• DirectX 12 or later graphics card with WDDM 2.0 driver
• High-def display (720p or higher) larger than 9” diagonally
• Internet access for updates

While most business-grade computers placed in service within the past three to five years will satisfy these minimum requirements, some will not. The one feature that is most likely missing from some devices is a TPM version 2.0 or newer chip. This chip is one of the cornerstones of the enhanced security features associated with Windows 11. If your computer does not have a TPM 2.0 chip installed, some of the security features available in Windows 11 will not function. Fortunately, although some users’ devices will not have a TPM 2.0 chip installed, if you purchased your computer after July 2016, it is likely to have the required TPM chip installed.

How to Test Your Computer for Compatibility

You can test your computer to see if all necessary hardware components are present by running the Windows PC Health Check app. This app quickly examines your computer and, in a matter of a few seconds, provides you with a report on the availability of required components to run Windows 11. You can download the Windows PC Health Check app by visiting https://aka.ms/GetPCHealthCheckApp or by clicking here. Once you download the app, access your Downloads folder, and click on the downloaded file to complete the installation. When the installation finishes, click the Check now button to test your computer and receive your report.

Another critical consideration in your upgrade journey to Windows 11 is to verify that all your necessary applications will run on the new version of the operating system and that their publisher supports them on Windows 11. Note that these are two completely different, albeit related, requirements. For example, suppose a critical application you use simply won’t load and run properly and reliably in the Windows 11 environment. In that case, you must likely defer your upgrade until necessary updates allow you to run that application – and all others – in the new environment. 

On the other hand, what if a critical application seems to run fine, but the application’s publisher does not yet support it in Windows 11? Again, in that situation, you should likely defer to the upgrade until technical support becomes available. To illustrate, suppose you are in a public accounting practice, and your tax software’s publisher does not yet support your tax software in Windows 11. Can you take the risk of running such a critical application with the prospect of no technical support, should it become needed? Almost certainly not! In that case, deferring the upgrade is likely the right choice.

Windows 11 offers to end-users a significant number of new features designed to enhance security and productivity. However, you and your team members cannot take advantage of these features unless you know what they are and how to use them. Among these significant new features are enhanced virtual desktops, widgets, snap layouts, and Teams Chat. Identify those features that your team should likely use and ensure that each team member receives the necessary training to understand how the features can help them and use them effectively.

In any business, implementing a new operating system should never be a haphazard, unplanned process. Therefore, even if you don’t intend to upgrade to Windows 11 right away, you should begin making plans for Windows 11 now. In these plans, you should include the three items addressed above – 1) hardware compatibility and the potential need to upgrade or replace some computers; 2) verifying that all critical applications run as expected on Windows 11 and that their publisher supports them in that environment; and, 3) creating a training plan to ensure that all team members understand the new features that are relevant to them and how to take advantage of these new features. Additionally, your implementation plan should include a timeline for rolling out Windows 11 to your team.

Many professionals view operating system upgrades as necessary evils of modern computing environments, sometimes creating more problems than providing benefits. However, in most cases where the upgrades provide questionable benefits, the culprit is likely poor planning, which, in turn, leads to less than satisfactory results. Fortunately, that need not be the case with Windows 11. By addressing the four critical considerations outlined above, you can make the transition to Windows 11 for you and your team a smooth and productive one. Best of luck on this endeavor!

Learn more about Windows 11 and other new technologies by participating in a K2 Enterprises training event. You can learn more at https://shop.k2e.ca

The ability to link data from one Excel workbook to another is one of the spreadsheet application’s best features. However, managing links – including editing and deleting links – is frustrating for many users. In this article, you will learn the best ways to manage links in Excel workbooks.

The most common need is to identify and manage inbound links from one or more “source” workbooks into a “destination” workbook. The need for this type of management arises from several situations, including troubleshooting calculations and auditing and verifying formulas in the destination workbook. Fortunately, there are three at least three simple ways to identify inbound links, and two of these methods facilitate editing and managing linked data with ease.

Perhaps the most direct method of identifying inbound links is to use Excel’s Find and Replace feature to search for all formulas containing “xlsx.” This technique works because when you link data from another workbook, the link’s text includes “xlsx.”

To utilize this technique, first open Excel’s Find and Replace dialog box using a CTRL + F keyboard sequence. Then enter “*.xlsx” in the Find what box and ensure that you enable Formulas in the Look in box as shown in Figure 1. Note that you can search for inbound links in the current worksheet only or the entire workbook. Finally, click Find All to search for all the links in the worksheet or workbook.

Upon executing the search, the Find and Replace dialog box displays all the links in the location searched, as shown in Figure 2. Once identified, you can manage the links – edit them or delete them – by editing the cells in which they reside.

Another option for managing inbound links in a workbook is to use Excel’s Edit Links feature. To use this feature, access it by clicking Edit Links in the Queries & Connections group on the Data tab of the Ribbon. Alternatively, you can access Edit Links by clicking File, Info, and selecting Edit Links to Files near the window’s lower right corner. Regardless of how you choose to access it, the Edit Links window appears, as shown in Figure 3. 

From the Edit Links window, you can choose to update the values linked into the current workbook, edit links by changing their source workbook or breaking them, open the source workbook, and check the status of a link. Note that Excel does not make these tools available if you choose the Find & Replace method of identifying links discussed previously.

A third option for identifying links to manage them is to take advantage of Excel’s Inquire add-in. Inquire is a Microsoft-provided add-in for Excel that offers tremendous capabilities for identifying risk and inconsistencies in Excel workbooks. Inquire add-in versions of Excel provided through Office Professional Plus and Microsoft 365 Apps for enterprise editions. For more information on activating Inquire, see the Microsoft-published article at https://bit.ly/3yoP2IE.

With the Inquire add-in activated, click Inquire followed by Workbook Relationship to create a Workbook Relationship report. This report, a sample of which Figure 4 displays, pictorially depicts the links from one workbook to another. Similarly, you could generate a Worksheet Relationship report to see how data flows from one worksheet to another. 

For an even more detailed view of links, you can generate a Cell Relationship report that provides a granular view of all cells linking into a specific cell.

Once you identify the links with linked data, you can use any method desired to edit or deactivate the links, as necessary.

Linking data from one workbook to another is a common Excel practice. However, sometimes managing links can become unwieldy. In some cases, users end searching for linked data by inspecting each cell, one-by-one. Of course, there are better ways to manage links in Excel workbooks. For example, as outlined above, you can use Excel’s Find & Replace feature, Excel’s Edit Links tool, or the Inquire add-in to assist you in identifying linked data and managing it. So, if you need to manage links in Excel workbooks, explore the techniques discussed here to get better results in less time.

Are you interested in learning more about Excel? Consider a K2 Enterprises learning option focused on Excel. You can learn more at www.k2e.ca/training.

It’s official. Microsoft has confirmed that Office 2021 – the newest perpetual license of Microsoft Office – arrives on October 5. Office 2021 offers many new features for those currently using Office 2019, Office 2016, or other perpetual license versions of Office. In this article, you will learn more about Office 2021, its new features, and potential considerations to consider when developing your upgrade strategy.

Across most of the Office 2021 suite, you will see several new features. First, the overall appearance of each application has a cleaner and fresher look compared to prior versions of Office. Part of the “new look” is the option to activate a Dark Mode. Additionally, you will notice the ubiquitous presence of Microsoft Search capabilities in each application, helping you find the information you need, regardless of its location. Further, Office 2021 users will also experience improved speed and performance when working with their Office files; for example, Excel functions such as SUMIF and COUNTIF will display results much faster than in the past, particularly with large datasets.

Users upgrading from Office 2013 or prior versions will now be able to take advantage of the Co-Authoring feature to experience multi-user, simultaneous collaboration on Excel, Word, and PowerPoint files. Similarly, these same users can use new functions such as TEXTJOIN and IFS in Excel. In fact, users upgrading from Office 2013 or prior will see a significant number of new features in virtually all their Office applications.

For many accounting and other business professionals, Excel is the most critical Office application. The new version of Office updates Excel with a significant number of new functions and features.  Among these are the following.

• XLOOKUP and XMATCH provide potent alternatives to “legacy” lookup functions, such as VLOOKUP, HLOOKUP, INDEX, and MATCH. The legacy functions are still available in Office 2021, but most users will want to take advantage of the power and ease of use provided by XLOOKUP and XMATCH. Click here to learn more about XLOOKUP.
• Another significant new feature in Excel is Dynamic Array formulas. With Dynamic Array formulas, you can create a single formula that places results into multiple cells. Over the long term, Dynamic Array formulas should change how most users create formulas in Excel. As part of adding Dynamic Array formulas, Microsoft also added six new functions to capitalize on Dynamic Arrays. These functions are SORT, SORTBY, FILTER, RANDARRAY, SEQUENCE, and UNIQUE. Click here to learn more about Dynamic Array formulas.
• Power Query users will notice a significant number of enhancements and new features, depending upon which version of Excel they presently use. For example, those who upgrade to Office 2021 can use Power Query to link data from PDF documents into Excel.
  

Of course, Office 2021 provides new features specific to applications other than Excel. Among them are the following.

PowerPoint

• PowerPoint allows you to record a presentation, including video, ink, and laser pointer recording.
• You can quickly see and rearrange the elements on a PowerPoint slide.
• Additionally, PowerPoint’s Zoom feature provides presenters with more control over the order in which PowerPoint presents slides.

Word

• Depending upon the version you are upgrading from, you may notice a new Editor feature in Word. The Editor helps to identify grammatical and style issues in your Word document that may weaken the effectiveness of your document.
• Also, the Line Focus feature is available in Word 2021. Line Focus helps users to concentrate on specific sections of a Word document.

Outlook

• You can use the Search bar in Outlook to quickly find email messages in Outlook.
• Outlook 2021 provides access to Translator, a tool that allows you to translate an email message into one of over 70 languages.

You can learn more about new features in Office 2021 directly from Microsoft by CLICKING HERE.

In general, most users who choose to continue to use perpetual software licenses  – as opposed to subscription licenses, such as those available with Microsoft 365 – will likely find the new features available in Office 2021 to be well worth the investment to upgrade from a prior version of Office. However, before upgrading, there are several factors to consider. Among these are system requirements and pricing.

System requirements will not present a significant issue for most who choose to upgrade to Office 2021 if they run a relatively new computer. Specifically, your computer must meet the following minimum hardware requirements to run Office 2021.

• CPU: 1GHz dual-core processor
• GPU: DirectX 9 or higher with WDDM 2.0 or higher
• Memory: 4GB RAM
• Storage: 4GB of available space
• Display: 1280×768 screen resolution
• Browser: Current version of Internet Explorer, Microsoft Edge, Safari, Chrome, or Firefox
• .NET version: Some features require .NET 4.6 or higher
• Other: Some Outlook features require Microsoft Edge WebView2
  

Of course, pricing is always subject to change. However, at this point, Microsoft indicates that Office 2021 pricing is the same as Office 2019. Specifically, Office 2021 Home & Student lists for $149.99 at retail and Office 2021 Home & Business lists for $249.99.

Although Microsoft 365 subscriptions remain very popular, many Office users prefer perpetual licenses for various reasons. Therefore, Microsoft is offering Office 2021 as a viable alternative to the subscription-based Microsoft 365 licenses. If you want to use a perpetual license of Office that offers many of the features already available in the subscription-based offerings, you should check out Office 2021. It may provide the features you need without obligating you to monthly subscription expenses.