Restaurant Accounting
08
Feb
Blogs

Restaurant Accounting: What It is and How It Works

Posted on by admin

Restaurant accounting is the type of accounting that involves managing the financial transactions of restaurants, such as recording, analyzing, and interpreting financial statements, bookkeeping records, and payroll and operating costs.  A well-established accounting system in place is essential for the long-term success of a restaurant as it helps businesses gain a competitive foothold in the industry. It can also help SME owners make informed financial decisions for the betterment of their firm and remain compliant with the rules and regulations

Continue reading →
CFO Services for Startups Costs ROI
05
Feb
Blogs

What Do Fractional CFO Services Costs?

Posted on by Najma Furqan

How much do Fractional CFO services costs for startups in 2024?  One reason startups succeed is making the right decision at the right time. Hiring a Fractional CFO may increase your startup’s success ratio, but it comes with costs.  At the beginning of a startup where every penny counts, a fractional CFO might be a more cost-efficient choice than a full-time CFO. This article discusses the costs and ROI of hiring a full-time CFO vs. a fractional CFO. Let’s get

Continue reading →
Improve Cash Flow
02
Feb
Blogs

How to Improve Cash Flow for Retail Businesses

Posted on by Mustafa Mohsin

Is there a way to improve cash flow? Are there ways to make your retail business a profit-pulling powerhouse? Working to improve cash flow is one of the most vital roles an accounting and finance professional is tasked with. Retail businesses heavily depend on good cash flow to function, with even a slight destabilization snowballing into a dire problem.  Why Cash Flow Matters Cash flow is the amount of cash that comes into the business’ bank account as income and

Continue reading →
AI Inventory Management
29
Jan
Blogs

AI in Inventory Management: A Revolutionary Game Changer

Posted on by admin

If we were to describe AI in inventory management in one word, it would be: optimization. The thing about AI in inventory management is that, for the most part, the technology has been there for quite some time now. While Chat-GPT and other AI models have influenced a meteoric rise in success in some business areas like finance and customer service, inventory management is a different case. This is not to say that AI has done nothing for inventory management

Continue reading →
AI in the finance industry
24
Jan
Blogs

The Future of AI in the Finance Industry: Insights for 2024 & Beyond

Posted on by admin

AI has been making the rounds across the business landscape. It’s no secret to anyone that AI in the finance industry has been the talk of the town. We at EA recognizing this surge in AI popularity, have launched a series of publications. These aim to spread awareness and encourage healthy skepticism. As with any new technology, we want to thoroughly evaluate, implement and seek continous adaptation to maximize its benefits. Plus this will also ensure successful integration into existing

Continue reading →
Exploring Inventory valuation
22
Jan
Blogs

Exploring Inventory Valuation: The Cost and Retail Accounting Methods

Posted on by Munis Khan

What is Inventory Valuation? Inventory valuation is all about putting a dollar value on your inventory and making further decisions based on that value.  Zoho defines inventory valuation as “An accounting practice that companies follow to find out the value of unsold inventory stock when they prepare their financial statements.” The whole point is to quickly tell how much inventory you have available at the end of the month. For example, based on the value of the leftover goods. This

Continue reading →
How to Automate B2B Accounting
17
Jan
Blogs

How to Automate B2B Accounting: A Comprehensive Guide

Posted on by Mustafa Mohsin

Automated work has taken the world by storm. Every day, the business landscape continues experimenting and seeing how far we can go from offloading tedious, time-consuming work to automation. Hence, to pursue more productive endeavors at work. The accounting function has perhaps seen the most automation integration out of any business function. Accountants are looking to automate away all the time-consuming data entry-esque tasks and focus on their core responsibilities: financial consulting and advanced accounting operations (such as audits, budgeting,

Continue reading →
AR Automation
15
Jan
Blogs

What is Accounts Receivable (AR) Automation and How Does it Work?

Posted on by admin

Accounts Receivable (AR) automation has been around for quite some time.  BusinessWire reported in 2021, 23% of businesses reported sparing no expense in leveraging this technology to optimize the collections process. However, there is still skepticism among the people. The “AI hype vs. reality” conversation has sparked a vast debate on whether automation and algorithm-based management are truly the best for accounting going forward. Many companies have found great success with automation. Big market players like Sage reported to the

Continue reading →
AI replace Accountants
12
Jan
Blogs

Challenges and Opportunities: Will AI Replace Accountants?

Posted on by Najma Furqan

It is happening. And it won’t stop. AI is automating accounting workflows. From automating daily tasks and analyzing past data to improving tax compliance, AI is saving time and money.  By now, we all know AI isn’t just a buzzword. It is a game changer. The future is knocking. Its algorithms can process data at lightning speed, analyze intricate patterns with unmatched precision, and even automate complex decision-making processes.  This raises an important concern:  Will AI replace accountants? Will we

Continue reading →
Hotel Cashflow Management
10
Jan
Blogs

Harnessing the Power of Hotel Cash Flow Management in 2024

Posted on by admin

The hospitality industry is among the most competitive business sectors. Hotel cash flow management often becomes the factor that decides the victor. Hotels need vast capital to function, from maintenance costs to service provision expenses. That is why it is not uncommon for cash flow to suffer due to market saturation, especially in the off-season. God forbid some new calamity comes along like the pandemic, and it becomes even more important to monitor hotel cash flow and do everything in

Continue reading →
×