Accounting and financial services always grabbed a major share in outsourced services. However, the unprecedented COVID-19 has further increased this share as the CPA firms all around the world are benefitting from outsourced booking and accounting services more than ever. For instance, at Outsourced Bookkeeping we have registered higher growth in the pandemic years as […]
No other accounting function has as much sway on the business cash flow and bottom line as Accounts Receivable. Being the lifeblood of a business in terms of revenue Accounts Receivable tips is the critical aspect of business accounting that needs to be efficiently managed for smooth business operations. However, the majority of the businesses […]
Accurate financial records are essential for business success. Our bookkeeping services ensure detailed tracking of all transactions, including sales, purchases, payments, and receipts. Many startups struggle with cash flow management and fail to record transactions properly due to limited resources. With our expert bookkeeping services, you can streamline payables, receivables, and overall financial reporting—allowing you […]
From 2018 to 2021, 55 of the largest U.S. companies paid zero income tax, leveraging tax strategies that not only eliminated their tax burden but also earned them millions in rebates. In contrast, small and medium businesses often struggle with complex tax regulations, sometimes facing fines on top of income tax payments. To avoid such […]
As the most important event in a monthly accounting cycle, the month-end close process is where all transactions are accounted for, balances are finalized, and reports are generated to provide key insights to aid in decision making. An efficient and accurate month-end close process is key for setting up a reliable accounting system. It improves […]
One of the biggest accounting challenges faced by businesses all around the world is lack of consistent cash flow and lack of efficient Accounts Payable Process one of the major causes. However, the problems caused by inconsistent AP doesn’t end there. Problems in invoice processing and the AP problems that follow can impact the production […]