Once upon a time, there was a small manufacturing company that produced specialty parts for airplanes. The company had been in business for several years and had grown steadily, but they were experiencing some financial difficulties. The management had a hunch that their financial reports might be inaccurate, but they didn’t know how to find out. To help solve the problem, they hired an accounting firm to do an audit of their financial statements. The auditors examined the company’s books,

What are Accounts Receivable? The accounts receivable function is essentially responsible for managing any and all invoiced payments for services rendered that are yet to be paid by customers. Businesses are leaning toward outsourced accounts receivable services to get the job done. There are quite a few reasons for this shift towards outsourced accounts receivable solutions, but before we proceed, let’s talk about the relevance of the accounts receivable function in 2023, and why it is worth investing in. The

Recently the AI chatbot Chat GPT has everyone talking to it and about it. From creating the world’s first poetry anthology (entirely written and illustrated by AI) to change the U.S. immigration law, it’s truly remarkable to witness the progress of technology. So, last month, we, at Expertise Accelerated, decided to jump on the bandwagon and decided to find the impact of Chat GPT on the finance and accounting fields here. But we aren’t done yet. Our previous blog post

Money in, money out: the yin and yang of a successful business. Without proper accounts payable and receivable management, even the most promising company can quickly spiral into financial chaos. But with the help of modern technology, businesses can streamline their financial operations and achieve the balance they need to succeed. In a prior publication titled Accounts Payable Management Made Simple, we briefly mentioned how automation has to be your best friend if you want to thrive in your business

If you are a GoT (Game of Thrones) fan, you might remember a famous line, “Winter is coming.”This mantra, spoken by House Stark, serves as a reminder of the harsh, unpredictable nature of the world in which the characters reside. Similarly, people not only in the US but worldwide are actually feeling the impact of this line. Believe it or not, people are choosing to live without heating in their homes in such harsh winter temperatures as energy costs rise

Hiring is one of the most difficult business decisions. Ideally, the most optimal time is in the small window of time when the business has the sufficient cash flow to hire new employees while at the same time needing extra hands on deck to manage the workflow. Hire too early and the employees may prove redundant and financially draining. Hire too late and the business may miss key opportunities due to a lack of workload capacity.   It is essential to consider the

The question of whether there is a recession coming in 2023 seems to have a clear answer today. It is no surprise to the business community that a severe recessionary spell is just over the horizon as we enter 2023. According to Bloomberg, economists at Barclays Capital Inc. forecast 2023 to be one of the global economy‘s worst years in the past four decades. With this sword of Damocles hanging over the global economy, entrepreneurs must begin preparing immediately for