Tax season 2020-21 is going to be one of the most complex tax seasons in recent years. Be it due to the updated tax rules and regulations, change in the way business operated, and tax provisions provided by CARES Act for businesses and individuals, the tax planning for the year has to be reconsidered with […]
As we feel a slight sigh of relief with the end of the year 2020, there is this one last thing that belongs to 2020 we all get past of: tax filing for 2020. While the tax planning strategies remain same, there have been ample changes to tax rules and regulations in the year 2020 […]
If there is anything certain in life, it has to be the taxes. Even in the year 2020 where the pandemic has turned the world upside down, tax filing for businesses is a sure thing that must be carefully complied with. However, the upside of 2020 is that a business can make use of tax […]
Systematic, accurate tracking and day-to-day recording of all the financial transactions and information of the company form the pillar for smooth functioning and growth of any business be it small, medium or large. A qualifier bookkeeper or accounting resource is the person who diligently records all the transactions of the business and plays a central […]
How Outsourcing Bookkeeping and Accounting Services Can Improve Business Growth of Accounting Firms?
As businesses are slowly gaining traction after the disarray caused by the pandemic, accounting firms that can help businesses improve their financial health are in huge demand. However, the competition among the accounting firms is fierce. So, it is important for every accounting firm to expand their accounting services, enhance their accounting and bookkeeping expertise […]
An accurate and efficient accounts management forms the pillar for stable cash flow and smooth functioning of a business. Maintaining proper cash flow, optimizing profits, minimizing expenditures and creating new investment opportunities are only possible when each and every accounting function is perfectly optimized and efficiently run. Large the business, heavier the transactions greater is […]
Having an organized financials helps in the smooth functioning of business and forms a pillar for accurate financial analysis to take strategic decisions for business growth. And keeping accurate records of financial transactions and updating them regularly from time to time, is the most important aspect of having an organized financials. Importance of Bookkeeping for […]
Accounting process of recording, classifying, analysing and interpreting and reporting the financial data is essential for the smooth running of any business, even more so for restaurant businesses. However, with high volume cash transactions, increased emphasis on regular inventory management, the volatility of the food and beverage industry and the need for frequent financial analysis […]
Cash flow is the total amount of cash flowing in and out of the business for a period of time. Difference between the cash at the start of the accounting period and the end is the cash flow which is carefully accounted in a cash flow statement. And positive cash flow is the key for […]
Efficient Accounts Payable management is vital for the smooth functioning of any business, small, medium or large. As a pillar of general accounting department, Accounts Payable department is expected to oversee all the payment obligations of the business entity save payroll, making it crucial for financial stability and reputation of the business entity. Three major […]