Attention start-up owners! You need to hire a bookkeeper today or risk losing it all to the whims of the economy. 2024 looks rough for startups, with the long-anticipated recession on the horizon as the unemployment rate crosses the recession threshold. Everyone is holding their breath waiting to see which way the pendulum swings, but none more intensely than startup owners. The plain fact is that startups are typically ill-equipped to deal with economic turbulence. 82% fail due to poor

Can you revamp your startup’s financial game with outsourced accounting services? Startups make our world a better place. There’s something amazing how startups unlock human potential…achieving extraordinary things. Yet 90% of startups fail. According to the Bureau of Labor Statistics, as of 2021, approximately 20% of start-ups fail in the first year. Behind this staggering statistic lies a myriad of challenges that startups face on their journey to success. Several reasons contribute to this rather alarming failure rate, but none

Internal Audit Outsourcing: The Perfect Solution for Small Businesses Do you know: Internal audits are a business’ first line of defense against financial errors or misconduct? But can outsourcing internal audits truly benefit your small business compared to handling them in-house? An internal audit is a systematic review of the business’ financial dealings over a period of time. It reveals where and how money was spent. It involves rigorous data verification to ensure authenticity. Internal audit outsourcing is popular among

SaaS Accounting in 2024: Best Strategies for Financial Success The SaaS industry has blossomed into an incredible business landscape filled with opportunity. Shrewd entrepreneurs have already made their mark in the industry, and everyone hopes to become the next Intuit. If you are looking to dip your toes into SaaS, you must see beyond the glamor and fame and into what matters most. One of the more overlooked reasons for the success of SaaS companies is SaaS accounting. Being able

Firms must understand the pros and cons of outsourcing accounting services to thrive. Amid the soaring inflation, SMEs have faced challenges in the accounting department, which involve high salary demands, inexperienced resources, and training costs. This can result in outdated financial records, errors in financial records, and unforeseen expenses. This is where accounting outsourcing comes in. Accounting outsourcing can help SMEs hire highly skilled accounting resources without compromising on quality, reducing their overhead expenses, enhancing productivity, and freeing up resources.