Unoptimized working capital management can pin down the free cash flow and impede the business growth even with thriving sales and revenue. Small and medium business who often multi-task theirs out of accounting look at every potential cause of this working capital problem except where it truly matters – Accounts Payable. It is 2021 and […]
Accounts Payable is a simple process – said no one ever. It can be intensive and taxing when not managed well, especially for small and medium businesses. Even businesses with well-established AP process make mistakes which overtime can corrode their accounting process. And this why an AP specialist must watch-out for mistakes that can creep-in […]
Accounting is how your business organizes and analyses the vast amount of financial information that is recorded, to help you understand the current financial position – profit losses, cash flow, current assets, liabilities and more. Efficient and accurate accounting is the backbone of the business strategy and management – it is not only crucial for […]
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 […]
