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 […]
With businesses back on track and the economy showing the signs of healing, accounting firms everywhere has their task cut out for them to give those best accounting services to their clients within the remote working model businesses have adopted. Importance of CPA Firms Post-COVID: The role of an expert CPA during these unprecedented times […]
As the global business world was left ravaged for more than 4 months now by the pandemic, businesses are slowly getting back their groove with remote working models. For small and medium businesses who cannot incur the gap for a longer time, the remote working models have turned into a life-line where every process of […]
As businesses are slowly and steadily recovering from the global economic shock of the COVID-19, every business owner is looking to get more work done with fewer resources while adhering to remote work-force models. And as a result, there had been a lot of demand for specialists whose skills are paramount for a successful recovery […]
With every business looking for remote working resources to ensure proper work process amidst the pandemic, businesses are in dire need of Remote Accounts Payable Services offered by Back Office Accounting Firms like us folks at Outsourced Bookkeeping. But why do firms need Remote Accounts Payable Process and if needed how firms do manage Remote […]
Out of nowhere, COVID-19 has suddenly struck a deep blow to global businesses worldwide. Starting with a government-enforced lockdown from March, the pandemic has disrupted the businesses in every sector pushing the economy into a slump like never before. The repercussions of the pandemic were felt by every citizen, with millions of people losing out […]
The net amount of cash that is being flowed in and out of the business for its operation is termed as cash flow in business. A long term positive cash flow is one of the fundamental measures of company’s ability to generate quantifiable value to the shareholders. Simply put, cash flow is like the blood […]
Automation is the process of leveraging advanced technology and software to perform a slow, manual, and repetitive process which normally are prone to manual errors. Accounting, being one of the most crucial aspects of business can be greatly benefited by automation but complete automation is only possible when each of its major components like Accounts […]
