blog

Outsourced bookkeeping for CPAs has grown in popularity owing to a variety of variables. With the rising pressure on businesses to remain competitive and efficient, many are turning to outsourcing to assist them in managing their financial operations. CPAs may focus on more strategic, high-value work, such as evaluating financial data and offering professional advice to their customers, by outsourcing their bookkeeping responsibilities. Outsourcing bookkeeping for CPAs also allows them to use the most up-to-date Read More

The days of spending numerous hours entering data into an Excel spreadsheet are long gone. The way accounting activities are carried out has been fundamentally redesigned for the digital era thanks to machine learning and artificial intelligence. Consider switching to automated accounting if you’re sick of manual accounting taking too much time and slowing down your company. Automated accounting benefits and solutions help save your accountant’s time and effort. Accounting automation is the future, and Read More

Payroll has always been a time-consuming job, regardless of the size of your workforce. According to studies, small business owners spend more than 10 hours each month merely completing employee payroll. Payroll automation might now uncover huge efficiencies for small and medium-sized businesses. Organizations at this level are primarily concerned with expansion, product quality, and new business sectors. Regular chores such as payroll can create enormous tensions (particularly towards the end of the month), diverting Read More

Tables of Content: Outsource Bookkeeping Services To India Cost Savings Quality, Qualified Professionals Use Of The Latest Technology The Lack Of A Language Barrier Favorable Government Policies The Favorable Work Culture Multiple Related Services Operational Efficiency and Productivity Increases Enhanced Brand Image and Value Conclusion Businesses rise or fall depending on their flow of revenue. A smooth, error-free revenue stream provides the best foundation for a business owner to be confident in their decisions and Read More

Even though it may appear to be an easy task, finding a professional certified public accountant for your real estate investment firm requires much study and time. The best certified public accountant (CPA) advice for investors typically comes from someone who either invests in real estate (RE) themselves or has a large number of customers who do. A real estate bookkeeper is a type of accountant that specializes in financial transactions involving the purchase and Read More

Monthly Bookkeeping & Accounting Services: Organization and structure are critical for every firm to ensure that operations function properly. Having correct accounting practices to assist you in measuring the health of your cash flow and operations is part of being a well-managed business. Bookkeeping is the appropriate recording of financial transactions connected to an entity’s commercial activity. Bookkeeping is the permanent recording of financial transactions in an entity’s books of accounts in a correct manner Read More

The strength of the collections serves as the strongest indicator of how well the bookkeeping and accounting activities are doing. Being thorough and accurate are key components of effective bookkeeping and accounting. Additionally required is proficiency with the billing software used by the supplier. But accuracy and taking a methodical approach to the situation come first in significance. Given these strict requirements, it should come as no surprise that many healthcare clinics frequently struggle to Read More

Hiring the appropriate individual for the job is essential if you’re looking for a professional Quickbooks bookkeeper for your business. The individual you select will be essential in assisting your firm in keeping track of its money because your bookkeeper will need to record all business transactions. Many things can hurt your business if you hire the incorrect person. If you choose the improper bookkeeper for your firm, some of your business transactions could be Read More

A guide to Nonprofit Bookkeeping and Accounting Services: What captivated you when you first began working at your nonprofit? What motivated you to start working there in the first place? Most likely, it wasn’t complicated computations, arduous paperwork, or compliance rules. The nonprofit’s purpose was (and still is) most likely what motivated you to join. However, managing a successful charity organization entails doing a lot of paperwork, analyzing numbers, and other unpleasant activities. Nonprofit accounting Read More

Outsourcing accounting services is a one-size-fits-all solution that appears to aid in cost-cutting measures ranging from large organizations to tiny businesses. Fortune 500 companies were the first to demonstrate that by outsourcing non-core accounting functions to accounting outsourcing service providers, organizations could focus on customer service. Accounting outsourcing has become the new normal as communication and technology have gotten more inexpensive. Accounting and financial management are the foundations of any successful firm. When done correctly Read More

The digital age has revolutionized every aspect of daily life, including how people go about conducting real estate business. Top Real Estate & Property Management Software with an exhaustive set of features has replaced traditional property management activities, saving all parties involved time and money. Property management bookkeeping software also brings increased transparency and trust to transactions with the added convenience of having all necessary information in one place. It is not surprising that the Read More

Time is a precious commodity for small business entrepreneurs. In addition to managing every aspect of their company’s operations, they are experts in the products and services their company provides, managing everything from sales and marketing to staff scheduling and benefits. Along the journey as you strive to expand your firm, there are obstacles at every turn of accounting for startups. Do you realize that 90% of new businesses fail? Unsuccessful financial and accounting management Read More

What is meant by virtual cloud bookkeeping? It may be a tiresome chore to keep your financial records up to date, especially when you do it physically. While keeping your private financial information securely safeguarded, cloud accounting software simplifies and automates several tedious chores. In this blog learn more about how virtual cloud bookkeeping functions and why it can be a suitable choice for your company by reading on. To keep track of and record Read More

The need for remote bookkeeping services is rising. If you don’t want to waste time traveling to a bookkeeper’s office or don’t have enough office space for an in-house bookkeeper, they are a perfect alternative. Compared to typical accounting businesses, remote bookkeeping services frequently offer superior customer service and quick turnaround times. For business owners who desire to outsource the accounting process, Velan Remote Bookkeeping is the most reputable outsource remote bookkeeping service. You have Read More

Can a CPA launch a profitable accounting company? It’s important to bear in mind that you need to consider your skill set. If you have a history in taxes, you should become knowledgeable about operational accounting as well as accounting and bookkeeping. Routine accounting and bookkeeping, such as how to input a vendor bill, falls under the category of operational accounting. How is a vendor bill paid? How is a consumer payment entered? How does Read More

Bookkeeper and CPA: Common people sometimes struggle to understand the precise distinctions between bookkeepers, accountants, and CPAs (Certified Public Accountants). Accounting business frequently swaps the terms instead. While they all manage the funds and strive for the same objective, the range of work that each of these specialists does differs greatly. In addition to the nature of the task, there is a distinction in their professional position. Every financial transaction made by a corporation is Read More

“Choosing the Right CPA Accountant for Your Business. Finding a decent accountant is so challenging that it has even given rise to a running joke among small business owners or founders of startups.” While doing your own books may seem like a cost-effective option, hiring a professional bookkeeper for your business might end up costing much more in the long run. Employing a certified public accountant (CPA) may help you save time, money, and potentially Read More

In the realm of small-business bookkeeping, virtual cloud bookkeeping services are getting more and more popular; as a result, the practice of bookkeepers traveling to meet with customers is becoming more of an exception than the norm. In fact, it’s probable that you won’t ever really meet most of your clients. Trusting a virtual service with your books may be challenging, and selecting the right provider can be even more challenging. In order to make Read More

What distinctions may bookkeepers make between small, medium, and big customer accounts? Let’s compare the various sizes in terms of their revenue, employee count, and other crucial criteria. The fixed monthly prices we charge for bookkeeping services and the bookkeeping activities performed for each one will then be compared to this. Our intention is to clarify for you what these breakdowns for each client look like. How much does a bookkeeper cost for a small Read More

Outsource Real Estate Accounting is focusing on the major operations of your real estate business rather than on tiresome office duties that will directly affect the growth and development of your company. Because the real estate industry is so diverse, it’s important for you to continually monitor market developments and how they may affect your company’s assets. The real estate sector now presents a very difficult operating environment. As real estate demand changes, margins are Read More

Managing Your Bookkeeping Smartly Growing businesses are constantly trying to expand their services, increase visibility, and manage costs. Whether small or medium firms, maintaining a record of the company’s financial affairs is extremely important. You might look for bookkeeping services in the USA and get various results: However, choosing what is best for your organization is vital these days. This is where Bookkeeping comes into play. However, managing your data and the company’s financial transactions Read More

Bookkeeping Services For Real Estate & Property Management Firms: The money you bring into your bookkeeping services for the real estate business is highly significant. You have to get money from several sources, such as buyers, sellers, investors, and more. Not just that, there are daily transactions with the sellers, people you buy property from, and other entities. You must be careful how you manage your funds and where the money goes. Not tracking how Read More

All you need to know to stay with small business bookkeeping: Bookkeeping is vital for every small business owner. Although keeping track of your money and company activities may seem tough, there are a few simple measures you can take to do so effectively. For some advice on the best bookkeeping services, go through these suggestions. Create a new business account, budget for taxes, organize your documents, and leave an audit trail. Is there a Read More

Velan provides bookkeeping for CPAs, and various accounting firms in the United States and beyond. Our accounting experts can handle accounting tasks of any size or complexity. We act as a catalyst for growth with deep industry knowledge and understanding of accounting, tax, and law. If you are looking for the right answer to the “outsourced CPA bookkeeping services“ dilemma, you are on the right page. Any accounting entity or commercial enterprise seeking assistance in Read More

Outsourced Real Estate Bookkeeper: Running a real estate business is no small task, even if it is a small business. You have to deal with multiple clients demanding your full attention on top of regulation compliance, market volatility, internal operations, and a multitude of other responsibilities. One of those responsibilities that can add significantly to the difficulty is the management of financial transactions. Pinning down exact numbers for multiple property transactions in a dynamic and Read More

Nonprofit Bookkeeping and Accounting Terms Tables of Content:  Accounts Receivable Accrual-Basis Accounting Amortization Accounts Payable Audit Bank Reconciliation Balance Sheet (Financial Health) Chart of Accounts Cash-Basis Accounting Encoding Current Liabilities Donor Advised Fund Depreciation Deferred Revenue Forecast Functional Expense Report Form 990 Fixed Assets Grants In-Kind Contribution Income statement (Statement of Activities) Indirect Costs Journal Entry Liquidity Liability Management Letter Net Assets Prepaid Expense Pledge Release from Restriction Statement of Cashflows Unrealized Gain or Loss Read More

Tables of Content: A Bookkeeping Guide for SMEs Step 1: Separate Your Business And Personal Expenses. Step 2: Choose An Accounting System. Step 3: Choose An Accounting Method: Cash Or Accrual. Step 4: Choose The Right Tools. Step 5: Make Sure Your Transactions Are Categorized. Separate Your Business And Personal Expenses The first step to mastering your business finances is simple: bookkeeping for small businesses starts by creating a bank account and separating your business Read More

Tables of Content: 15 Essential Bookkeepers Daily Tasks Daily Accounts Management Manage Emails Up-to-date Record Management Invoice Management Communicate Daily Inventory Management Manage Bank Accounts Maintain Security Standards Revenue and Expense Management Payroll Management Accounts Payable Management Accounts Receivable Management Petty Cash Management Stay in Touch with Management Categorize Transactions 1. Daily Accounts Management The bookkeepers have to record business transactions into the designated accounting software to know the exact cash inflow and outflow numbers. Read More

Tables of Content: 6 Practices for Effective Budgeting and Forecasting- One Must Need to Know Start by creating a budget and sticking to it Plan for both short-term and long-term expenses Anticipate changes in your income and expenses Use forecasting to predict future trends Review your budget regularly and make adjustments as needed Seek professional help if you need assistance creating or managing your budget Introduction If you’re like any other business owner or entrepreneur, Read More

Accrual to Cash Basis in QB Online, There are two ways to do this either to change the basis in the account and settings page or within the specific report. Steps as an Accrual Accounting to Cash basis Accounting follows: Click the gear icon Select Account and settings. Go to the Advanced tab. Expand the Accounting section. From the Accounting method, drop-down menu select Cash Click Save On the reports, under the Accounting method section Read More

Are you having trouble managing your outsourced payables and receivables? We have been there done that! As you know, managing your payables and receivables is the most significant aspect of your business at all stages. You may get overwhelmed with the kind of cash you’d have to handle, and keep everything intact and going. Fret not, below are some really simple techniques you can adopt to disentangle yourself from all the payables & receivables hassles. Read More

You might feel bookkeeping is one dreadful job, and it hogs a lot of your time. Well, you are not alone. Below are some simple steps you can follow to save your time and ensure seamless bookkeeping. 1. Go paperless You may not be an expert in bookkeeping. You might find yourself frantically searching for that bill you know you kept in some place. You can avoid this most daunting task of maintaining papers which Read More

The right accountant should know your business very well, be able to offer suggestions at the right time, and identify the areas for improvement. If your accountant isn’t doing this, then you may need to consider looking for a professional accounting firm that does. There are several accounting and CPA firms in the marketplace. Selecting the right one that suits your business is the biggest challenge ever. People normally get suggestions/recommendations to identify the right Read More

We’ve seen a plethora of tips posted online about how to find a good Virtual Cloud bookkeeper. Being trusted and experienced bookkeepers ourselves, we decided to release a real set of 10 functions of a  bookkeeper. Coming up is the mother of all tip lists you’ve seen on finding a well-certified bookkeeper. Offering offshore accounting services for more than a decade now, Velan bookkeepers have been serving some of the biggest accounting firms and CAs Read More

You’ve delivered your services or product(s) right on time, and your client was exhilarated with it, but there’s a twist. The invoice you’ve sent is several days late, and this isn’t the first time that this has happened. You might not have considered using Hire Outsourced Bookkeepers for Accounting Bookkeeping Services to get your clients to pay on time. Irrespective of the business you are in, you will experience late-paying clients. As a matter of Read More

Have you ever considered how much easier it would be to entirely redo your small company bookkeeping? It is far easier to reboot your QuickBooks certified bookkeeper and bookkeeping from the outset and do it correctly. For a variety of reasons, bookkeeping for small businesses may rapidly deteriorate. Transactions and papers will mount up if bookkeeping is not effectively managed. Bills will not be paid on time. Invoices will not be received on time. Furthermore, corporate Read More

CPA services for small businesses, CPA firms are comprised of auditors who conduct both public and private audit engagements, In today’s competitive world, outsourcing your CPA firm’s bookkeeping is one of the wisest choices to stay ahead of the competition by focusing on your core business. If you would like to stay ahead of your competitors consistently then you need to offer more values than anybody does. With bookkeeping in your hands, you will have Read More

With the world having adopted a scientific outlook, there has been immeasurable progress in every area of learning. And with the paradigm shift of technology, the world has grown by leaps and bounds, and with it has grown the competition to make it big in the playground of life. And the rapid flow of progressive ideas has brought to the limelight many entrepreneurs who have changed the global scene with their bold outlook. It’s not Read More

Financial gurus predict a sea change in the way the accounting process is going to evolve this year, 2018. Gone are the days when bookkeeping and financial accounting were done manually. Presently, we are heading into a total transformation where automation, CPA Bookkeeping Services, and cloud accounting are endorsed globally by the business community and corporate houses. While small business houses, bookkeepers, and CPA accounting firms avail the support of CPA bookkeeping services by outsourcing Read More

Tax Preparation services with the rush of the upcoming holidays and just weeks away from the New Year’s tax season officially getting underway, it is just about the right time to consider your tax preparations. Tax season creeps upon millions of taxpayers every year as a recurring exercise. Instead of being caught off guard towards the end, one can actually follow a few guidelines to start preparing for the upcoming 2018 filing season and gain Read More

Small business owners often find themselves worrying when it comes to filing tax returns. It is generally considered cumbersome for small businesses to collect all financial and business transaction records at the end of every quarter/year and put them across to the tax preparation services for CPA .To prepare tax returns. Putting of tax preparations until the last minute can not only prove to be an expensive affair but also necessitate the recruiting of seasonal Read More

Businesses, regardless of size will at some point require bookkeeping services. All business owners would have come across the term “bookkeeping” a number of times. From the very first instance, a business opens its doors and collects its very first dollar, the role of a bookkeeper would generally commence. Advisors, partners, and other well-meaning associates would have undoubtedly recommended and suggested bookkeeping services to help keep a company’s books and finances on track. Bookkeepers help Read More

Tax laws have been constantly changing over the years. However, it is safe to say that it’s been over 30 years since there has been any significant change. Tax Changes Small business and Job Reforms Bill that recently passed is certain to impact everyone from individual taxpayers to business owners. In line with the previous sweeping tax reforms, this new tax act is likely to foster a great deal of business for accountants. The ideal Read More

One of the most significant benefits of Outsourced Bookkeeping Services is that you can radically scale your operations up or down without impacting the personnel directly employed by you. When it comes to running a business, a clear and detailed record of the history of transactions involved would be vital to the seamless and efficient functioning of the overall enterprise. It wouldn’t be an exaggeration to say that the survival of most businesses relies heavily Read More

Velan Outsourced bookkeeping services Building a team is a continuous process that does not happen overnight. What great joy it is to celebrate our own achievements! But what greater joy when sharing our celebration with others! While individual goals are more straightforward to articulate, it takes tremendous effort to mould many minds towards achieving a common goal. All team efforts require a voluminous amount of discipline and self-sacrificing. In a world driven by “every man Read More

Outsourced virtual CFO Services will oversee your current bookkeeping and controller staff in the startup. There is a common misconception that a bookkeeper and an accountant are enough to run the financial aspects of the company.  The role of a bookkeeper is limited to maintaining the daily transactions in the organization. In some cases, the bookkeeper can extend their services during the accounting season but with limited expertise.  The role of an accountant is to get Read More

Small business owners go through a great ordeal during tax preparations. Finding a way to strike a balance between operations to the marketing of the product and finding time to do yearly small business tax preparation isn’t easy. Generally, small businesses lack the resource to keep a tab on daily accounts. Over time these accounts add up to a seemingly insurmountable task that would require the assistance of experience and expertise in the concerned arena. Here Read More

Why bookkeeping for small businesses is important, Separating business and personal finances ensures that you’re not personally held liable for any debts or issues related to your  Small businesses.  Accurate, up-to-date Outsourced bookkeeping is the cornerstone of every successful small business. Irrespective of any business sector, you must practice regular bookkeeping to run your business smoothly, efficiently, and profitably – now and in the future. Learning the ropes of bookkeeping may sound intimidating, fret not! Read More

Certified public accountant (CPA) and Bookkeeping services for Accounting Professional Clients in the USA. Outsourced CPA Accounting Firms help clients with a wide array of services. Outsource CPA accounting and bookkeeping services firms must be breathing a sigh of relief post-tax season, after a hectic tax filing this year. However, successful firms don’t just stop with a January to April alliance with their clients but continue to do business with them throughout the year. In Read More

 Have you ever wondered if you’re getting the most out of your bookkeeping services pricing? With the hourly rates almost becoming the convention of pricing, have you ever considered that much of this would be at the mercy of the bookkeeper’s skill set and tactfulness, There’s no real pricing panacea when it comes to bookkeeping services? The hourly bookkeeping services pricing mechanism may make sense in the case of certain larger firms with enough Read More

How can you maintain your bookkeeping efficiency while telecommuting? Bookkeeping services for telecommunication In light of the COVID-19 pandemic, organizations across the world are encouraging their employees to telecommute, thereby preventing the rapid spread of this virus and ensuring employee safety. However, the organizations need to maintain the productivity and efficiency of the employees as most of them have not worked from home before this pandemic. Companies that are equipped with the right hardware, proper Read More

What are Accounting Services in Dover? Common accounting services include tax preparation and consultation, tracking expenses and revenues, accounting is about producing accurate financial records and maintaining efficiency for small and medium businesses. You’d be pleased to know that Velan offers offshore and outsourced Accounting and Bookkeeping Services to CPA firms, SMEs, Retailers, and Real Estate/Property Management companies, not just in Dover, but at a global level. We strictly adhere to Generally Accepted Accounting Principles (GAAP), Read More

13 BENEFITS OF HIRING AN OUTSOURCED BOOKKEEPING SERVICE Precise and up-to-date accounting is vital for a growing business as non-compliance takes a heavy toll on a business, hampering its development. But business owners and executives can gain more value from their time spent on business growth rather than bookkeeping. Though they could employ online accounting software like Quickbooks, they would still need an expert to feed accurate and relevant data. Thus, outsourced bookkeeping services become Read More

It is rather an accepted norm to view outsourced Accounts Payable services as a traditional mandate. However, each passing year we witness fleeting trends that influence and impact the outcomes of Accounts Payable. As we stand midway across 2019, now is as good a time as any to assess and analyze the strategies and trends that have made a difference this year. With trends and tactics evolving every day, it is highly critical to stay Read More

“A stitch in time saves nine” In general, every little thing that you put off until tomorrow, that which can be done today pushes you one step closer to an insurmountable pile of tasks dwindling by a choking deadline. The consequences of procrastination have far more pronounced repercussions in the realm of bookkeeping for small businesses. Certain bookkeeping tasks require to be taken care of year-round. It has rather become a tradition for most people Read More

Planning, in general smoothens the course along every walk of life. And planning ahead provides the added advantage of forecasting possible scenarios down the road. Many perceive taxes as a once-in-a-year exercise, but it has all the elements of being a year round agenda. To exercise precaution, it is highly recommended that you keep receipts for all expenses and possible tax deductions that you consider claiming. Scanning and electronically filing for better accessibility will come Read More

As a consequence of the latest tax reform, there are going to be changes in Federal revenue tax charges for nearly all taxpayers. The charges of some of the taxpayers’ are likely to change greater than others. A closer look into the new tax rates and corresponding brackets will help shed some insight into the possible impact that will ensue. The following tables compare and contrast the changes in the Tax rates and brackets for Read More

The line of horror movies stacked up for release this year a little ahead of the tax season is highly symbolic of what is to come. Once again, we stand on the brink of another tax season, quite aware of what awaits us. The thought of a myriad of paperwork built around umpteen hours of strenuous study and scrutiny is capable of sending shivers down one’s spine. Redundant obsequious squealing from the coffee machines would Read More

Small businesses sail through a sea of scathing conditions, especially during their initial stages. With limited manpower, and agendas spewing way past business hours, it almost always is a full plate. Ideally yet ironically, bookkeeping happens to be one of the most critical and least favourite activities of small business owners. Many would prefer a root canal sitting with a dentist over balancing their books. Sidelining bookkeeping can result in adverse repercussions that can even Read More

For any business firm to blossom and grow, understanding customer demands and meeting their satisfaction is vital. To do this, the firm should maintain a healthy balance between the growing demands of customers and the increase in responsibilities that are bound to follow. This will strike the chords of harmony that will allow for the required growth and stability of the firm. And as the customer base expands, so will expand the need for lucid Read More

Have you ever wondered why your bookkeeping and accounting system is in shambles? We do realize how an organized, clean, well maintained books of accounts depict the health of the business. This scenario arises when a lukewarm attempt is made to DIY bookkeeping, lack of time, incompetent bookkeeper or just failing to get it done. A sensible way is to start your bookkeeping in the correct way from the beginning. Maintaining the books and balance Read More

Why file your tax returns ASAP? The tax filing season has opened up to individuals. The Internal Revenue Services has shifted the deadline for tax filing to April 17, 2018. The filing deadline was extended by two days (usually, it is April 15 every year) because 15 April 2018 falls on a Sunday. The 16th is observed as Emancipation Day, a holiday in Washington D.C. Just like any other Federal holidays, Washington holidays have an impact on Read More

10 Small Business Accounting Trends to Kick-start 2018 2018 is here and just like every other year, we’re mopping our brows thinking the previous year went down way too fast. But the New Year is not about moping on bygones but learning from the past and looking forward to the future! So here are 10 Small Business Accounting Trends for the year 2018. For all small businesses who’re looking to make bookkeeping and accounting a lot easier Read More

Hey CPA, are you going to let an extensive workload ruin Christmas this year? We hope not. Avail outsourced bookkeeping and accounting services, and do these 10 things to keep stress at bay and live it up this Christmas. May the joy and cheer of the season keep your spirits high, and workload low. So read on to know how you can steer clear of long hours this holiday season. It isn’t realistic to say Read More

If you’re wondering how your competitors sail smoothly with outsourcing – there is no magic trick to it. Every business faces issues with outsourcing and you’re not alone – especially if you’re a first-timer with outsourcing. But just like any other business function and every other industry, outsourcing has its share of potholes and pitfalls. But doesn’t it strike you uncanny that 78% of Fortune 500 companies outsource major business processes like Payroll, Accounting, Financial Read More

Employees’ Payroll Data is highly sensitive and needs to be treated with the utmost care – but you already knew that. At Velan Bookkeeping we provide outsourced bookkeeping services to CPAs and a part of our service platter is outsourced payroll management. In this post, we’re going to cover 5 great ways Payroll can be secured. It takes more effort than just classifying your Payroll as “Confidential”, to implement security and confidentiality in real! You Read More

Not just accounting firms but even individual chartered accountants outsource bookkeeping, accounting, payroll, taxation and financial reporting to reliable firms. Around 80% of accounting firms prefer outsourcing against large in-house teams. But why? How does outsourcing help them achieve growth and benefits? You must’ve seen the benefits of outsourcing iterated, and reiterated in numerous blog posts. This post is going to give you hard statistics on why you should consider outsourcing bookkeeping and accounting as Read More

We keep iterating that running a business is nothing short of the 12 labors of Hercules. But if done right, you stand to attain an immortal business! Well not that dramatically, but certainly quite close. For CPA and accounting firms, it is easy to relate to the fact, that there are not enough hours in the day to do everything that needs to be done. It could take eons for one man to build a Read More

You’re not alone on the seasonal Business & Low Cash-Flow roller-coaster! More importantly, if you’re running a seasonal business, you’re not alone on the cash-flow roller-coaster. The cash-flow for a seasonal business is quite unlike the others and a very imperative aspect of sustenance. A seasonal business is very common if you’re in a region where travel and tourism are popular. If you are well acquainted with the holiday highs and bad weather lows, there Read More

Gartner has released its first-ever Magic Quadrant for Core Cloud Financial Software Management Suites! Concentrating solely on Cloud-based ERP which serves mid-sized, large and global organizations. At the onset, Gartner has excluded all players serving SMBs niche. This report revolves around the bigger ERP players. While we’re waiting for the Critical Capabilities report which Gartner promised to deliver in the third-quarter of this year, join us in rehashing this first-of-its-kind report from Gartner. Some surprising Read More

Every organization witnesses a skills gap; 75% CEOs feel their in-house team isn’t adept enough to keep up.Keeping that in mind, it is always helpful to define clear, precise and well-defined workflows and practices in every business process. Here are some tips and best practices to Improve Accounts Payable efficieny. A better Procure to Pay process will not only benefit your working capital, cash flow, and vendor relationships but go the extra mile help you Read More

The order-to-cash/Accounts Receivables cycle in businesses is full of complexities. There are too many interactions that take place in the OTC/Accounts Rceeivables cycle and there is always room for Cash Process Efficiency enhancements in the process. True setback comes from the reliance on the hackneyed manual processes and the absence of a smooth transactional information flow. These are the major impediments that contribute to the inefficiencies and the increased operational costs. It is established that Read More

Real-time Financial reporting basically means that an event must be reported as and when it occurs rather than in the later stage. In this same context, real-time accounting means retrieval of information that is stored in the accounting system by reducing the lag between the recording time of accounting and the time of availability. Real-time accounting is used to make accurate information available as soon as possible. Some benefits of Real-time accounting and financial reporting: Removing Read More

Adequate cash-flow is significant to running a healthy business and anybody running their own business will know it. It is a taboo that healthy cash flows in any business come from equity funding or income from other investment and not their original business operations. The OCF or Operating Cash Flow unfolds what revenue is generated by ongoing business operations like sale of goods or services. Importance Of Tracking Cash Flow There are quite a lot Read More

Is outsourcing the right solution to get your payroll sorted? Payroll is one of the major costs for most of the businesses plus there is no assurance of ROI. Outsourcing is increasingly available for all parts of the business. There are umpteen off-the-shelf payroll software packages available. Many businesses take the bait and often find that one-size-doesn’t-fit all.  Therefore, it is imperative to look at what values do the outsourcing company deliver.   Typically, all Read More

Accounting software these days is considered as a must-have to meet the requirements of small business mainly. Plus, it also acts as a vital tool facilitating your decision making process since you get regular updates of your finances and there are tools to analyze your budget. Not only do they provide you with all the details you require but also most importantly, they provide the same on-the-go. But the question is in a sea of Read More

Have you started your tax prep for your small business yet? It’s about time you started prepping and it’s not very late to hire a tax preparer to help you out with it. There can be umpteen questions to start like who can be your my preparer? Am I choosing the right person? Can I still prepare taxes on time? So on and so forth. Before you think through all these, if you think that Read More

Account Reconciliation is very important for CPAs and accounting firms. If they are not handled effectively, they can be time consuming and exhaustive.  Below are some of the practices for you to handle account reconciliation in a whole new perspective: 1. Prioritizing the Balance Sheet Strategically planning your priority is the key approach. This method is also called “risk based prioritizing.” You need to identify the accounts that have high chances of becoming erroneous essentially. Read More

One of the most popular and favorite segment that is Outsourcing Your Procure To Pay Processes or Accounts Payable processes. It’s pretty simple, why companies do that- P2P processes are completely a transnational one, hence most of the companies would like to free up the time and resources engaged in the P2P process and engage them more in strategic planning for their growth and development. Not only do the companies benefit from the labor arbitrage Read More

Find out what you can and what you cannot deduct.. New Year 2017 has just begun. It does not only mean a new beginning; it also marks the Tax Tips For Small Business Owners season. It’s about time you started prepping your files. We know at this point in time you will be handling plethora of papers and bills. It can get over the top to handle both business bills as well as personal ones. You Read More

Happy New Year everyone! Can you believe it’s already 2017? Many of you would have come from vacation feeling all motivated and Interesting Ways to Gear Yourself geared up to strike 2017. Now is the perfect time to plan and implement your new ideas. Below are some simple and highly effective tips for you to make your work life a lot less stressful and much easier. 1. Lay your roadmap It’s about time you prepped Read More

New Year is around the corner; and in a jiffy, your tax season will be here too! All you need is a little knowledge and preparation to stay calm and composed when you file for the taxes next year. Whether you are electronically filing your returns or traditionally mailing your paper returns, below are the necessary information that you need to know. 4 THINGS YOU SHOULD START DOING RIGHT NOW TO WELCOME THE TAX SEASON Read More

So, HOW CAN YOU PAY LESSER TAX AND SAVE MORE FOR YOUR RETIREMENT? Have you ever wondered about this? And then thought Super contributions could be the best way to start saving more for retirement rather than paying the humongous amount of tax. If you have not, think now! For, Super gives you incredible tax benefits. At some point in time, everyone would ask this one question their accountant which is “How can I save tax?” Read More

Are you a single owner or an active member of an LLC (Limited Liability Company)? Are you looking to transform your company to a multi-member LLC?  Whatever it is, you will have some questions on the tax part of your business. Below are a few things you need to know as an LLC owner: Tax laws for LLC- Basic: Firstly, it is very important to know the way in which an LLC is structured as Read More

Have you just started up your own business? Are you looking for tips to manage your cash flow? Does the cash flow management intimidate you? Worry not and Read through…. Keep track of your cash flow:   This would be the easiest tip of them all. Everything you need to do is constantly monitor and measure your cash flow. Here are some tips you can follow to do the same: Start measuring your cash flow Read More

Would you like to focus on your core business, concentrate on the client base, and be more productive? Yes? We know right? Everyone running their business would love that. Business owners would at some point in time feel that Accounting is hogging his time and it is not a very productive job but an essential one.   In this era, with internet in hand the world has shrunk so much that you can contact anyone Read More

QuickBooks, a product of Intuit, is one of the best selling software for bookkeeping and accounts. QuickBooks is very easy to install and use – as it does not have any prerequisites to start using it. QuickBooks outsourcing is incredibly useful for small business accounting as it provides top-notch professional services. There are plethoras of benefits on using QuickBooks, some of which are mentioned below: Time saving: It saves a lot of time for small Read More