Imagine going to get the product you have been wanting to buy for a long time from your favourite store, only for the store to tell you that the product is out of stock. Frustrating, right? Let’s suppose the next thing that you can picture is the last time you ordered goods online and you
How Inventory Management Affects Your Cash Flow Statement (+Tips to Reduce Risk) Inventory and cash on the cash flow statement are like a delicate see-saw balance. When one goes up, the other goes down. Inventory is often overlooked. Many companies are reactive (rather than proactive) regarding inventory management which can seriously hurt their bottom line.
How to Measure Accounting KPIs For Startup Success KPIs refer to key performance indicators of different business campaigns that are launched to drive business growth and success. Without these performance indicators, you may not be able to measure a campaign’s performance, so they are absolutely vital in assessing the effectiveness of various business strategies. In
If you are a start-up business owner who has invested a significant amount of monetary investment, energy and time, you know how time taking small business accounting can be. In today’s changing business landscape, you want to focus on developing strategic initiatives for your business that can drive it forward rather than spending your valuable
“While they seem similar at first glance, bookkeeping and accounting are two very different mediums.” writes Laura Hennigan in her Forbes article titled, “What Is Bookkeeping? Everything You Need To Know”. Bookkeeping refers to the process of recording a company’s financial transactions on a regular basis. It is an essential process for many business functions
There comes a point in a business when hiring a remote bookkeeper becomes necessary. While managing the books may seem manageable in the beginning stages of the business, it becomes a hurdle as it grows. Especially if it starts to take a toll on your business. This blog post answers all your questions (and concerns
You might be wondering “Why can’t suppliers just submit the purchase orders to receive payment?” Since a sales order is an approval of the payment that is supposed to be made for the goods and services, then why do companies take an extra step of sending the invoices. These invoices need to be processed and
John Hall, a senior contributor at Forbes writes, “If You’re Serious About Scaling Your Business, Get Serious About Sales Order Automation”. By now, you, as an entrepreneur, might have a glimpse of what sales order automation is all about. However, have you truly grasped how it can benefit your business operations? In business, it is
At a time when the world is in turmoil, the role of CFOs is being celebrated for their careful and steady approach. Thus highlighting the importance of financial prudence in uncertain times. As companies, especially SMEs, seek flexible financial expertise without the commitment of a full-time hire, two models have emerged as popular solutions: virtual
Imagine transforming your accounting processes with a single decision- Accounts payable automation (AP Automation) While the potential loss of crucial data and the high initial cost of software might seem daunting, the long-term benefits far outweigh these challenges. In recent years, the demand for accounts payable automation has risen significantly. According to a recent report