An unsteady cash flow is a sign of inefficient Accounts Receivable. But when one experiences the heat of cash flow problems, most business owners wouldn’t have time or leisure to fix the Accounts Receivable process. This is also why 80% of small and medium businesses fail due to cash flow problems. 5 Signs Your Accounts […]
As the tax season of 2023 is approaching, taxpayers must be aware of common errors that they may make when filling taxes returns, which can lead to penalties and unwanted troubles. Filing taxes can seem overwhelming, and errors are common. Therefore, it’s crucial to be cautious and vigilant to avoid making such mistakes. Below are […]
KPIs and Metrics are real-time scorecards that give you visibility over the progress and assessment of performance. Tracking the right KPIs helps you know your current status and enables you to steer your ship towards the right destination. The more complex & comprehensive the process higher is the need for identifying and tracking the right […]
Accounts payable outsourcing is the process of entrusting accounts payable (AP) processes to a third-party provider. This can include the entire accounts payable process or just certain components such as invoice processing or vendor management. Outsourcing accounts payable frees up time for an organization’s internal staff and allows them to focus on more value-adding tasks. The […]
The payroll department is responsible for the delivery of payroll checks, maintenance of employees’ and ex-employees records, wage deduction, calculation of bonuses & overtime, and most importantly, ensuring compliance. This is the only department that deals with and manages functions that impact almost everyone in the organization. A simple delay can be a talking point […]
Accounts receivable and business collections are essential components of any business. As the year 2023 approaches, new accounts receivable trends and collection strategies will become increasingly important to ensure a healthy cash flow and financial stability. This blog will provide an overview of accounts receivable trends in 2023 and discuss ways businesses can take advantage […]
Being a remote accounting firm that specializes in bookkeeping services we regularly work with businesses that need to optimize their bookkeeping practices for better performance. In 100+ cases we have worked on so far, there tends to be a few common mistakes which when prevented could have saved hundreds of working man-hours and dollar. Any […]
Accounts payable automation streamlines bill and invoice payments, making the process more efficient. A key aspect of AP automation is measuring performance through metrics. These metrics help accounts payable teams identify areas for improvement, monitor progress, and make data-driven decisions. Examples of metrics used in AP automation include the time taken to process invoices, costs […]
Law firms are increasingly outsourcing their finance and accounting tasks to specialized companies as a way to save time and money while improving efficiency. Outsourcing allows law firms to focus on their core competencies, such as providing legal services to clients, while leaving the financial and accounting tasks to experienced professionals. By outsourcing these tasks, […]
CFOs (outsourced CFO services) are a financial wizard who manages and monitors all the financial activities of the business. They manage all the financial and accounting requirements of the business and unlock new insights to maximize profits. A start-up needing help with financial planning, an SMB making data-driven decisions, or a business trying to navigate […]
