Full-time vs. Outsourced: Which Type of Accounting Service is Best For Your Business?

Full-time vs. Outsourced: Which Type of Accounting Service is Best For Your Business?

As a business owner, there may have been many times when you’ve had to sit down, polish up your Excel skills and manage your own bookkeeping and business finances. But when you have clients to meet, services to deliver and products to develop and sell, being held down by profit and loss and payroll duties isn’t ideal. If you’re thinking about hiring an accountant to […]

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What Can Accounting Software Do For Your Business?

What Can Accounting Software Do For Your Business?

Take a step back in time for a moment and imagine the time when all accounting was managed without electricity, computers and even calculators. It was a time when all entries were done manually into heavy ledgers and where just one mistake could mean hours spent recalculating figures to locate the “missing” money. Thankfully, times have changed and we now have the power and technology […]

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The Value of Bookkeeping For a Small Business

The Value of Bookkeeping For a Small Business

When running a small business, one of the top priorities any business leader should have is ensuring the finances are in order. While revenue and cash flows are imperative to the survival of a business, proper accounting and financial management are key elements to any business’s success. Whether hiring a bookkeeper or engaging a third party, outsourcing the accounting function of your company allows you […]

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How To Strengthen Working Capital By Leveraging Accounts Payable

How To Strengthen Working Capital By Leveraging Accounts Payable

In today’s economic climate, businesses are under increasing pressure to do more with less. Do you feel it? Well, let’s talk about it. This means your business needs a working capital strategy that not only makes it possible to fund the day-to-day trading of the business but to also fund growth, reduce costs, streamline processes, seize new opportunities, and enhance service levels – all equally […]

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5 Reasons Why Every Startup Needs An Accountant

5 Reasons Why Every Startup Needs An Accountant

One of the questions many entrepreneurs ask themselves when starting a new business is whether they need to worry about hiring an accountant so early in the game. During the first few months at least, startups are usually battling with limited funds, finding their place in their market and busy focusing on bringing in revenue. An early-stage accountant will be able to offer a wide […]

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Acronym Soup: Finance and Accounting KPIs

Acronym Soup: Finance and Accounting KPIs

B2B…CTR…CRM… No, I am not speaking robot, I am speaking business! There are a ton of acronyms in the business world and while some may be standard to you, it’s still easy to get lost in it all. Key Performance Indicators, or KPIs, are one (of the many) abbreviations that when used in the right way, can generate insights into peak company and employee potential. […]

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Mo’ Money Mo’ Problems: The Difference Between Profit and Cash Flow

Mo’ Money Mo’ Problems: The Difference Between Profit and Cash Flow

You came into work this morning and saw that your business turned a profit last quarter. Congrats! But don’t break out the mimosas just yet. A business can be profitable, yet have no promising signs of cash flow. So then what’s the difference and why does it matter? Profit A great word, we all know what profit means for us — mo’ money! But, by […]

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4 Things Your Tax Accountant Should Be Doing Now

4 Things Your Tax Accountant Should Be Doing Now

To avoid last minute fire drills and a generally stressful first quarter, your accountant should now be laying the groundwork to submit your tax return next year. What should you accountant be doing this early in the game? There are several things. In this article, we’ll take a closer look at four tasks a good tax accountant should have in hand at this important point […]

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How to Prepare for the Next Market Downturn as a Small Business

How to Prepare for the Next Market Downturn as a Small Business

Economic downturns affect everyone, but small businesses may take a bigger hit than larger companies. Operating on narrow margins with a limited customer base, small businesses have an inherent vulnerability. Even a small decline in revenue or increased expenses can cause the company to go under. These issues may be avoided through diligent preparation for the next shift in consumer behavior. By paying close attention […]

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Improve Your Decision Making: Know Your Numbers

Improve Your Decision Making: Know Your Numbers

Most business owners and managers have a good feel for their business and industry. Gut feel and instinct are important, but the true pulse of a business is in its numbers. Here’s how knowing them improves your decision making. Improved Planning and Forecasting A retail manager probably knows without looking at any reports that their sales go up before the holidays. But exactly when do […]

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