The dangers of mobile banking

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Mobile banking has become increasingly popular, since we are all pretty much dependent on mobile devices. Many phones have apps where you can do your banking from where ever you are. Banking apps can help you deposit checks, transfer funds, pay your credit card bill, etc. But, how safe is it to bank from your mobile device?

In this article, I will discuss some of the dangers of banking on your mobile device, and provide tips to help you bank safely from your mobile device.

Dangers to keep in mind

• Not all transmissions are safe. Some of your private information could be seen by a third party.
• You are at an increased chance of identity theft if you banking isn't password protected.
• Keep in mind that automatically saved passwords aren't always safe.
• If you share your mobile device with someone, they could view your information.
• Old phones may still have your personal banking information.

Ways to bank safely

1. Be sure to bank with a secure connection. Make sure you are using your bank's official app. There are a lot of copycat apps out there. You don't want your banking information to get in the wrong hands.
2. By having a password protected banking app, you are securing your private information from being hacked into. Be sure to create a password that contains symbols, numbers, upper and lower case letters.
3. Do not automatically save your passwords. The seasoned identity thief can still gain access to your personal information. Write down your password and keep it secure.
4. We all have loaned our phone out to at least one person in our lives. Whether it is our child, a friend, or a friend of a friend, we've loaned them our phone to play a game, or make a phone call. Be sure that you've signed out of accounts that contain personal information.
5. If you are upgrading your mobile device, be sure to delete all information from your device's memory. The next person who has your old phone could gain access to all of your private information, especially if you've never logged out of your accounts.

Mobile banking is a convenient method of banking for the adult on the go, but, it can also become dangerous if you don't bank securely. Keep in mind all of the above steps and you should have no problems with your banking experience.

How to use an accounts receivable template

To see books on accounts receivable, click on the photo.

Account receivable is an essential part of any business. With accounts receivable aging wordbook, you can track money that you expect from your customers. Whether your business provides goods or services, using an accounts receivable aging wordbook template will help you gain piece of mind that you will have enough monetary funds to keep your business in operation.

You may be asking yourself, "How do I keep track of accounts receivable aging wordbook?" Accounts receivable aging wordbook has a template that can be downloaded for free.

Information needed in an accounts receivable aging wordbook:

-Names of your customers and clients
-Date of service/product delivery
-The amount of the receivable
-The terms of payment

What an accounts receivable aging wordbook template may look like:

-Column A should contain the name of your customer/client.
-Column B should contain the date when services were provided.
-Column C should contain the amount that you expect to receive from services. If you provide services to other countries, you should separate the monitoring sheet for currencies used. This way you don't mix various currencies together.
-Column E should contain 0-30 day payment terms.
-Column F should contain 31-45 day payment terms.
-Column G should contain 46-60 day payment terms.
-Column H should contain 61-90 day payment terms.
-Column I should contain 91-120 day payment terms.

When it comes to columns G through I, make sure you check with your client's accounting department in order to ensure accuracy. Ask for any misplaced invoices, or if your client is having any issues with their services. If your client exceeds their column, it may be necessary to send a payment demand letter.

The last column on the accounts receivable aging wordbook template should contain the amount of money expected from your clients.

The accounts receivable aging wordbook template is an invaluable excel tool. It will give you peace of mind, and ensure that your business is making the amount of money that you expect to be making. Let your accounts receivable aging wordbook drive your company on the road of success.

source: http://www.smallbusinessnotes.com/business-finances/aging-of-accounts-receivable.html

[photo credit: www.spreadsheetshoppe.com]