Nov 2, 2011

Easy Ways To Organize Your Business Finances

Whether you are a new entrepreneur or a more experienced business owner, taking control of your finances can feel like a part-time job. Some simple tips can help you streamline your time, organize your finances and reduce the stress of business money matters.

1. Keep Your Bills in One Place

When the mail comes, make sure it goes in one place. Misplaced bills can be the cause of unwanted late fees and can damage your credit rating. Whether it's a drawer, a box, or a file, be consistent. Size is also important. If you get a lot of mail, use an area that won't get filled up too quickly.

2. Pay Your Bills on Schedule

Bill paying can be simplified if it's done at scheduled times during the month. Depending on how many bills you receive, you can establish set times each month when none of your bills will be late. If you're paying bills as you receive them, chances are you're spending too much time in front of the checkbook. Although bills may state "Payable Upon Receipt", there's always a grace period. Call the creditor to find out when they need to receive payment before the bill is considered late.

3. Read Your Credit Card Statements

Most people take advantage of low interest credit card offers but never read their statements when paying the bill. Credit cards are notorious for using low interest as bait for new customers then switching to higher rates after a few months. Make a habit of looking at your statement carefully to see what interest rate you are paying each month and if any transaction fees have been applied. If the rate increases or a transaction fee appears on your statement, a simple call to the credit card company can oftentimes be beneficial in resolving the matter. If not, try to switch your money to a more favorable rate.

4. Take Advantage of Automatic Payments

Most banks offer a way to automatically deduct money from your account to pay creditors. In addition, the creditors usually offer a lower interest rate when you sign up for this payment option because they get their money faster and on-time. Consider it as one fewer check to write, envelope to lick and stamp to buy. Just make sure you record the deduction when the automatic payment is scheduled or you run the risk of bouncing other checks.

5. Computerize Your Checkbook

Using a software program is a handy way to organize your finances. Whether it's Quicken(r), Microsoft Money(r) or another package, these easy-to-use programs make bill paying and bank reconciliation a cinch. Computer checks can be ordered almost anywhere and fit right into most printers. Once the checks are printed, all of the information is automatically recorded in your electronic checkbook. Furthermore, many banks have direct downloads into these software packages so when money is deposited or withdrawn, the transaction is entered immediately onto your computer. And, when it comes time to do taxes, it couldn't be easier.

6. Get Overdraft Protection

Most banks have a service where, if you run the risk of bouncing a check, the money will come from another source. For a nominal fee, the bank will link your checking account to either a savings, money market, or credit card so the embarrassment of bouncing a check will be avoided. Call or visit your bank to learn about this convenient feature.

7. Cancel Unused Accounts

Whether it's a credit card or bank account, write a letter requesting that the account is formally closed. Not only will this improve your credit score, it is a useful way to avoid money from being scattered all over the place. Don't let department stores and credit card companies lure you into opening new accounts by offering favorable interest rates and purchase discounts. It's easy for credit to get out of hand by taking advantage of every credit offer that comes your way.

8. Consolidate Your Accounts

If you have several credit card accounts with outstanding balances, try to consolidate them into one. Be careful and check the balance transfer interest rates and one-time fees. Also, make a list of all your open Money Markets, Savings, CDs, IRAs, Mutual Funds, and other accounts to see if any consolidation can be done. Keeping your money in fewer places eliminates all of the guesswork involved and reduces errors.

9. Establish Automatic Savings


Create a link from your checking account into a savings account that will not be touched. This can usually be done through the banks and automatic amounts will be transferred over each month. Most people will not put money into a savings account on a regular basis. They may wait until a large tax refund check arrives or some other event to actually deposit money into savings, retirement or other accounts. If you establish an automatic savings deposit every month, your accounts will begin accumulating money faster than you think.

10. Clean up Your Files

Make sure your paid bills are organized in a filing cabinet. Keep individual files for paid bills. Go through your files at the end of each year and throw out bills and receipts no longer needed for auditing purposes. Contact your local IRS office to see how long records need to be kept for audits. Usually federal tax return audits can be done three years back but cancelled checks may need to be kept for seven. Consult the Internet for auditing and records-keeping procedures for your state or region.

About the author:

Michael G. Peterson is the Vice President of American Credit Foundation, an IRS 501 (c)(3) non-profit consumer credit counseling organization that has assisted thousands of individuals and families with their financial situations through seminars, education, counseling services, and, debt management plans.


Written by: Michael G. Peterson

Apr 7, 2011

Portable biogas generator: A “zero waste” venture to ease fuel shortage


by Rita T. dela Cruz, photos by BSWM

It is true that one man's junk is another man's treasure. In agriculture, farm wastes such as rice straw, bio-solids from vegetables, grasses, biodegradable feedstock, and manure do not immediately find themselves into the garbage as they could be potential alternative sources of fuel energy.

These agricultural wastes are being converted into biogas fuel through an anaerobic process. Biogas comprised primarily of methane and carbon dioxide which could be used as fuel for generating electricity at homes and farms particularly in remote areas in the province where electricity is limited. These could also be burned directly for cooking, heating, lighting and process heat, and absorption refrigeration.

One question remains. How to generate biogas fuel from these agricultural wastes?

Introducing the portagas

The portable biogas generator or portagas was developed by a group of researchers from the Bureau of Soils and Water Management (BSWM) lead by Dr. Rogelio Concepcion and Dr. Gina Nilo with Mr. Alan Anida, Mr. Carlos Serrano, Ms. Leonora de Leon, and Mr. Victorcito Babiera.

The feasibility and development of the portagas were undertaken for five years, from 2001 to 2006.

According to Dr. Nilo, all common biogas generators have two main parts: digester (where the slurry is mix and fermented to produce the gas); and gas holder (where the gas is collected and connected to a burner for cooking or lamp for lighting).

Prior to the development of the portagas, BSWM developed four biogas generators.

The first ever model is an integrated batch type generator developed in 2000. It is called “integrated batch type” because the gas holder is not separated from the digester.

In 2001, it was modified into a split-batch type (digester and gas holder are separated) and was referred to as PortaGas Model-1 or Pm-1. It has a floating gas holder attached to a Bunsen burner for cooking.

The previous model was further developed with the coming of Pm-2 in 2002 using a surplus burner from a non-functional auto-ignition LPG stove.

Then, a more refined model, Pm-3 was developed in 2003 with a pre-fabricated cast-iron manual gas stove and simplified gas holder fittings.

Finally, the most simplified model, Pm-4, which is the upshot of the portagas.

Recycled drums fixed with necessary fittings were used as the digesters and gas holders for the portagas.

A unit of the portagas consists of 10-drum digesters and two sets of gas holders. Each gas holder is made up of two drums, one for the water and another for the gas.

According to Dr. Nilo, this floating type gas holder, which serves as the pressure regulator, is the “heart” of this generator.

Deriving biogas from agri waste

While the floating gas holder serves as the “heart” of the generator from which the gas is being accumulated, the agricultural wastes serve as the “nub” or the meat of the generator wherein the biogas will come from.

For the portagas, BSWM utilized farms wastes (fresh rice straw and animal manure) and urban wastes (vegetables and fruits refused, grasses and ornamental plant trimmings) to convert into biogas.

These agri-wastes are collected and loaded into the drums. This makes up two thirds of the loaded drum after which, the animal manure and water were mixed into the container. The drum was then compressed with a concrete hollow block, which served as weights on top of the mixture. The drum was sealed and left for several days to digest and ferment.

Gas was discharged from the collectors after 14 days. On the 15th day, a burner maybe attached for the initial flame test.

It is advised not to conduct flame test directly from the gas collectors' nozzle to avoid accident. A secondary hose must be inserted from the gas collector's nozzle onto the burner before conducting flame test.

The agricultural wastes inside the drums are to be unloaded after three months.

After the trial, the study showed that the agri wastes charged into the portagas were able to produce 25 cubic meter of biogas fuel which is equivalent to one cylinder of LPG (11 kg).

A cylinder of LPG is the approximate fuel consumption of a typical Filipino family for two and a half months.

Results also showed that biogas emission consistently increases within the first three weeks and fluctuates within the next five weeks. Emission of biogas dwindles after the fifth week due to the declining amount of carbon in the substrate.

The “zero waste” factor

Developing the portagas is said to be a “zero waste” endeavor because the digested agricultural waste which was unloaded from the drums now becomes the by-products which will then serve as compost for soil fertility enhancement.

In the study trial conducted, among the by-products collected were: 98.5 kg of compost and 750 liters of organic liquid fertilizer.

Results showed that the nitrogen (N) content of the compost increased from 0.6% in fresh rice straw to 1.5%.

According to Dr. Nilo, this is equivalent to two bags of organic fertilizer. Also, the digested compost from biogas generation contributed greatly in crop production and in mitigating the methane gas greenhouse effect.

Benefit-cost analysis of the portagas showed that return of investment (ROI) starts after the 12th cycle.


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This article was based on the study, “Design, Fabrication and Calibration of a Portable Biogas Generator (Portagas)” by Dr. Rogelio Concepcion, Dr. Gina Nilo, Mr. Alan Anida, Mr. Carlos Serrano, Ms. Leonora de leon, and Mr. Victorcito Babiera of the Bureau of Soils and Water Management (BSWM), Elliptical Road, cor. Visayas Avenue, Diliman, Quezon City, Philippines.

For more information please contact the project leader, Dr. Gina Nilo, chief of the Soil and Water Resources Research Division (SWRRD), BSWM at telephone number (02) 920-4378.