How to Improve Accounting Processes and Procedures to Save Time
Accounting is a field of repetition with very few one-time events. Many accounting tasks should be completed on a daily or monthly basis. Some only require quarterly or annual attention but are nevertheless repetitive. Because so many redundant back-office accounting tasks are traditionally manual and time-consuming, it is important to evaluate your internal processes to […]
How Can AI Help You Save Money on Accounting Costs?
Artificial intelligence (AI) accounting software can save you money by automating bookkeeping practices, intelligent reporting, documentation, and categorization of data. While AI-powered software offers a host of money-saving benefits, some of the most predominant involve invoice management, tax preparation, and audit proofing. Invoice Management It’s no surprise that invoice management is a tedious task, especially […]
Benefits of AI-Based Bookkeeping for Small Business Owners
As small business owners know, time is limited and the work is plentiful. Fast-decision making is essential and access to key financial data from any time, anywhere is crucial. What if your financials were up-to-date, on-demand, and accessible from your phone? AI bookkeeping software does just that. How Does AI-Based Bookkeeping Benefit Small Business Owners? […]
AI in Accounting: 3 Reasons Why Accountants Should Care About and Adopt AI Now
Now more than ever, accountants need to care about AI. We hear it in the news. Generative AI is disrupting a multitude of industries from education to entertainment – the jury is out as to whether that’s a good thing. AI’s positive impact on the accounting industry, however, is undeniable. By automating redundant back-office tasks, […]
Revenue Accounting – How to Increase Revenue for Multi-Location Businesses
Running a successful business can be a challenging undertaking for even the most experienced professionals. Managing revenues, recruiting talented staff, and creating sustainable growth are just a few of the common obstacles faced by business owners. Operating a business with multiple locations compounds each of these challenges. Whether you’re a street vendor selling hot dogs […]
Artificial Intelligence and Automation Work Together To Turbocharge Bookkeeping and Back Office Tasks
Although artificial intelligence (AI) is seemingly a recent phenomenon, its origins date back to the mid 20th century. In 1951, an AI-based checkers playing program was written by a British computer scientist known as Christopher Strachey. Today AI is used across numerous industries including financial services, insurance, healthcare, and life sciences. Automation, on the other […]
What is Revenue Accounting and Why is it Important?
Earning cash and generating revenue is a fundamental aspect of doing business. Regardless of whether you’re selling hot dogs, clothing, or running a large hotel franchise – every company’s success depends on revenue. However, in the accounting world recognizing revenue can be a bit more complicated. You would think that a business simply has to […]
What is Franchise Accounting?
Franchises exist all around us, but you might not be aware of it. Whether you’re grabbing a sandwich at Subway, dropping off a package at UPS, or staying at your neighborhood Best Western – each of these businesses are franchises. A franchise includes a legally binding agreement that allows business owners to gain access to […]
Accounting Trends to Look Out for in 2023
The world of accounting has changed dramatically over the last few years. From the COVID-19 pandemic to an increasing focus on digitalization – the way businesses utilize their accounting resources continues to evolve. Small business owners should focus on staying up-to-date with current trends to maximize accounting efficiencies and processes. In 2023, small business owners […]
Complex Multi-Location Expense Management Made Easy
Many people dream of building and scaling a successful company. However, expense management can be a challenge for owners with multiple locations. Organizations that fail to control expenses lose money or will eventually shut down. Managing expenses is simple in theory, yet complicated in practice. Effective expense management is a critical component for maintaining business […]
Unlock Your Credit Potential: How Integrating Docyt and Corporate Cards with Up to 5% Cashback Can Help Your Credit Score!
Using credit cards offers a number of benefits over cash-based payments. Better cash flow management, increased spending ability, and credit establishment are the most common reasons for credit cards. Corporate cards provide employees with a means to pay for business expenses incurred such as airfare, hotel, and dining. Corporate credit cards also help streamline employee […]
The KPIs You Need to Be Tracking in Quick-Service Restaurants (QSRs)
Are you a quick-service restaurant (QSR) owner or operator? If so, understanding the financials of your business is essential to success, but it’s not the only metric you should be tracking. The KPIs you choose to measure can have a major impact on your ability to make informed decisions and adjust your strategies in order […]
