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
Are you a startup owner wanting to carefully manage your funds but cannot afford a full-time CFO? A Virtual CFO can help you. In today’s times, experienced CFOs demand very high salaries and rightly so but some startups cannot accommodate them because of low budgets. A virtual CFO might be the solution any startup needs.
Are you thinking of long-term success for your small business? Financial planning can help you achieve business objectives. Achieving long-term business success depends on good preparation, and the most important part of this preparation is an informed financial plan. This plan outlines a business’s short—and long-term financial goals and how to reach them. It is useful for company
As an entrepreneur, you may want a cash basis in your accrual—the best of both worlds. Fortunately, this is possible because there is a third method of accounting called hybrid accounting. One of the main reasons many small businesses use hybrid accounting is to simplify their bookkeeping while still gaining insights from accrual accounting for larger