Outsourced bookkeeping and accounting services have been a game-changer for small and medium business that look for accurate, streamlined and efficient bookkeeping and accounting services without having to set-up a dedicated accounting department of their own. Outsourced accounting services save time, money and give flexibility to scale-up or scale-down based on the accounting requirements while […]
Every business small, medium or large business runs into its own set of Accounts Payable challenges, especially as the volume of transactions increases and business grows or during the adoption of new technological advances or AP methods. These challenges in the early stages reduce the efficiency of the AP process, make it difficult to […]
Reconciling the bank and credit card records with internal ledger entries is the standard procedure for cash management in any business. It is not only complex but also is arduous and is time taking process that requires focussed efforts since accuracy is paramount in this process. If you are a small business owner who is […]
Bookkeeping and accounting that had been associated with, reams of papers, books and cabinet of files, binders a good 60 years back has come a long way with the help of technology. What started with simple paper, pen and pencil evolved into manual and digital spreadsheets, accounting software and today, cloud accounting – all in […]
Poor cash flow management is one of the most common reasons why the majority of the small businesses experience turbulence, de-rail and eventually fail. According to research, poor cash flow management is responsible for the failure of more than 82% of the businesses in the United States alone. If you are a small and medium […]
Tax filing and preparation has always been a challenging task for small business owners. Not only it is complicated riddled with many intricacies, but it also puts an extra burden on the workforce without any additional benefit. Add the slew of business tax updates and tweaks in the wake of COVID-19 pandemic, the complexity of […]
Quick Books is widely considered as a powerful accounting software applications available today for businesses of all sizes and types. By simplifying and streamlining the accounting and reporting, QuickBooks available now is different versions make the entire process of financial management simple. We folks at Outsourced Bookkeeping use it extensively for our bookkeeping and accounting […]
The tax filing season has begun and 1099 reporting is soon approaching its deadline. And our accounting team at Outsourced Bookkeeping has successfully helped hundreds of businesses get over the line with accurate and efficient 1099 reporting in shortest possible time. Our accounting team has significantly cut the cost, saved time, got rid of the […]
If you are one among the 50 million+ independent contractors or freelancers then there you sure must be aware of the impending arrival of 1099s and W-2s from your clients or employers this month. While no one is a fan of these tax forms, they can be quite complex right from on the onset and […]
Imagine toiling hard for days at a stretch to get your taxes done digging all the financial data possible and on a fine day you receive a mail from IRS about the mistake in your tax filing. While the mistake can be rectified, it can invite penalties, delay your tax refund or even invite IRS […]