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 functions 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 is a method employed to make the process of paying bills and invoices more efficient and streamlined. One of the fundamental aspects of AP automation is the use of metrics to gauge the system’s performance. These metrics align with the objectives of the accounts payable department and are used to pinpoint areas […]
Law firms are increasingly outsourcing their finance & 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 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 that needs an expert hand in financial analysis, budgeting and forecasting, an SMB that needs to make data-driven decisions […]
A business requires a lot of work and effort for it to reach the very pinnacle of the corporate ladder. However, many components make up one entity, and the same goes for a business. As many single units make up a business, an accounting partner forms a very formidable part of those units. Thus, corporate […]
Starting a business is an accomplishment that many aspiring individuals dream about. However, there are several critical steps that aspiring entrepreneurs must acknowledge to grow their small businesses gradually. Patience and perseverance are qualities admired greatly by a business owner. Similarly, it becomes important to look for small windows that allow growth. Every small business […]
Bookkeeping errors can cost you more than you can anticipate. Generally, most businesses do not consider showing much interest in bookkeeping and try to manage it by themselves. However, they don’t understand how many mistakes can happen if they don’t keep it updated and don’t take it seriously. It is understandable that bookkeeping is a […]
When you are running a small business, it feels like you are the manager of all the responsibilities that come in front of you. These responsibilities include formulating marketing strategies, chalking out payroll, product, and services development, tracking accounts payable services, and most importantly managing taxes. Small businesses generally work with a limited working capital […]