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 is the critical aspect of business accounting that needs to be efficiently managed for smooth business operations. However, the majority of the businesses face […]
An accurate record of all the financial transactions – sales, purchases, payments, receipts. Payables and receivables in a detailed way are called bookkeeping. As dynamic as they tend to be, start-ups are not usually mindful of the cash flow and do not adequately record these transactions as the funders and personnel juggle through multiple tasks. […]
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 […]
Payroll processing and management are not as simple as everyone assumes them to be. Efficient payroll processing at scale is a complicated task to accomplish without external assistance from outsourced accounting firms or payroll service providers. Payroll processing is laden with so many complex tax regulations at the state, federal and local level that errors […]
With the global market back on its feet, the need for financial and accounting intelligence is higher than ever and so is the competition among CPA firms to trigger business growth in 2022. The capability to get more done in less time at a high scale is a USP that most CPA firms look to […]
Right from 2021, IRS has been steadily making changes in 1099s & W-2s to make the filing more efficient and accurate in terms of compliance and reporting. While it has updated 1099-MISC, 1099-NEC, it has also made quite a few changes to 1099-K as well. As a trusted remote accounting firm that specializes in 1099 and […]
Restaurant accounting can be a tough task to master even for the most seasoned restaurateurs due to the inherent complexity, greater need for accuracy and efficiency, slim margins and ultra-high competition in the field. Even the restaurants with a well-setup accounting system need to periodically update their accounting standards and improve their expertise to improve […]
A business generally comprises of a number of operational processes. One of the most critical elements which a business organization must take into consideration is related to the aspect of finance. Finance along with marketing, human resource, and information technology comprises of the four pillars which every business demands upon. In order to maintain a […]
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