Post about "Personal Finance"

An Equipment Finance Agreement Can Be The Best Option For Business Purchases

When a business needs to purchase needed equipment, they will often have two options: lease the equipment and pay rental payments without obtaining the equipment or they could take their chances and get a loan of some kind to purchase the equipment outright. Today however, a third option exists and it is one that has more advantages than many business owners might think: the equipment finance agreement.Where You Can Get Equipment Finance Agreement FromFrom the term, one might think that it is simply another form of purchasing loan arrangement, available through a traditional loan broker. In reality, an equipment finance agreement is available from the same kinds of businesses who would normally be the source for an equipment lease, a surprising fact that many business owners overlook because they primarily only think in the short term options, rather than the long term, especially where money is concerned.While this might not be an option for businesses that are only looking to use new equipment for a limited amount of time, those that are looking to make a major investment in their businesses through the purchase of new equipment could very well benefit from this type of program. Not only will they be able to finance the purchase at more reasonable terms than those available through traditional means but they also gain ownership and tax benefits at the same time.BenefitsIn this type of finance agreement, the business takes on full ownership of the equipment, even though technically it is considered to be leased until the final payments are made. This means that it can be considered as capital property from the first day, even though it has not yet been fully paid for. It also entitles the business owner to take advantage of tax breaks afforded for the purchase of new equipment with the intent of growing or expanding that business, just like those available to owners who take on a capital lease. This could mean considerable savings on year-end taxes, depending on the monetary value of the equipment.Of course, one of the main benefits to this type of arrangement is the lower monthly payments. Instead of investing a large amount of capital to purchase the equipment, or taking on an unnecessary loan for the full amount plus interest, a business can take advantage of being able to use it, while making payments that leave more capital available for investment in other aspects of the business. For some businesses, this could mean the difference between going forward with expansion plans now or delaying them for years until they would have raised the capital.DownsidesOf course, assuming ownership of a capital asset does have its drawbacks. First, from day one, the business taking possession of the equipment is then responsible for all maintenance, upgrades and replacement, should anything go wrong. It also requires that the business create a security agreement with the leasing firm, as an assurance of them being paid the purchase price in terms of other owned collateral, in case of default or bankruptcy.While some business owners may see this as being more expensive than just taking out a loan, entering into an equipment finance agreement with a recognized leasing agent does make it a more affordable option for two very good reasons. The first, no interest is being charged on the principle during the length of the finance agreement. Second, the leasing agency is underwriting the financing and if gone through one the business has worked with in the past, the financing is pretty much guaranteed. And, whereas a loan company would list the purchase price as market value plus interest, the leasing company would list it as current value, a plus if the equipment is actually used.

Microsoft Excel to Power BI: Why you should migrate your data and reports.

Microsoft Excel comes to mind when considering a suitable reporting tool for businesses. Excel has been a natural choice for years because of its data organization and analysis capacity. However, as systems change and the demands for data analytics become more complex, it has become clear that the software has some limitations, hence it is necessary to shift from excel to power bi.

For organisations, Microsoft’s Power BI provides robust analytics and reporting features. Power BI delivers significantly more insight than Excel thanks to faster experimentation with visualisations, statistical functions, and calculations across large datasets and the capability to derive answers instantly through the quick recombination of fields.

Listed below are a few advantages of moving from excel to power bi:

Excel to Power bi – Accessing and Storing Large Quantity of Data

Microsoft Excel can perform simple and complex arithmetic operations and functions. However, its effectiveness wanes when you have enormous amounts of data that cannot be opened. This makes it less than ideal.

You can view, analyse, and visualise the more significant data sets that Excel struggles to manage with Power BI’s impressive comprehension capabilities. Not only are these things possible, but your files can also be stored and analysed using only 50 megabytes. To import and cache your data inside a .PBIX file, Power BI makes use of robust comprehension algorithms.

Efficiency is one of the most apparent reasons why Power BI is such a valuable tool. It eliminates the need to aggregate or reduce the size of large datasets to show a more comprehensive analysis. Instead, all the most minute details and summaries can coexist in one file and be evaluated through drill-downs.

In addition to having a massive amount of storage space, you can also edit and prepare your data. Many tasks are made simple by Power BI.

Excel to Power bi – Data Protection

Any business has always placed a high priority on data security. For all kinds of organisations, big or small, the growing threats of data theft, unauthorised access, and invasion by foreign entities have become major concerns. Excel has features that safeguard your data. Excel limits access to files, sheets, or any worksheet as part of security measures.

The user can keep any document locked to prevent unauthorised personnel from accessing the data. The read-only option prevents external parties from editing or otherwise altering the document. Excel does provide security features, but they are basic and lack more sophisticated features.

In contrast, Power BI offers data protection features that are highly dependable, scalable, and responsive to current business requirements. Power BI has the industry’s best built-in security control. Role-based authentication, cloud security, risk monitoring, risk identification, and network security are a few of the security features that Power BI offers.

Compared to Excel security features, Power BI’s data security measures are unquestionably more detailed and trustworthy.

Excel and Power BI provide analytics features, but in comparison, Power BI’s presentation of the visuals and analytical results is much more thorough and appealing. Excel offers basic analytical features, whereas Power BI provides advanced, business-focused analytical features.

Although some of the more recent charts are available in Excel, they cannot connect to the data model. Excel’s portfolio does not currently include some of the newest trending charts at the application level. It only has restricted access to the data model as a result.

However, Power BI has all the features necessary to satisfy customers’ new demands interactively. With the help of Power BI, an organisation can access real-time dashboards, performance indicators, and an alert system. Using data from the past, the organisation can visualise the present and future data.