Build Audit-Ready Financials: A Step-by-Step Guide
Are you looking for guidance on how to build audit-ready financials? Whether you are a pre-IPO company looking for SOX compliance, or a business needing accurate financials for lenders and investors, preparing for an audit can be overwhelming. In this blog post, we’ll provide a step-by-step guide for building audit-ready financials. We’ll go through the […]
Key Performance Indicators (KPIs) Tracking & Advanced Financial Reports
If you’re a business owner, you know how important it is to have an accurate view of your financial performance. Traditional bookkeeping services may offer basic financial statements, but these alone can’t provide you with the insights you need to make informed decisions about your business. To gain a fuller understanding of your financial performance, […]
Reasons You Need an Automated Payroll Solution
Managing payroll can be a tedious and time-consuming task. Fortunately, automation can make it much simpler and more efficient. With an automated payroll solution, you can reduce manual work, streamline bookkeeping, and increase accuracy. In this blog post, we will discuss the top three reasons why you need an automated payroll solution like Gusto, Docyt’s […]
Eliminate Tax Penalties and Improve Efficiency with Real-Time Bookkeeping
Small and medium sized business owners have to wear many different hats to maintain profitability, from managing inventory, hiring, acquiring customers, to bookkeeping and creating financial reports. Some businesses are often penalized for not filing taxes on time to the IRS due to poor bookkeeping practices. Bookkeeping is a tedious task that takes time and […]
Automated Bookkeeping for Business Owners: Profile of a Docyt Customer
When searching for automated bookkeeping solutions, business owners may find themselves wondering who a typical user of the software might be. What challenges have they faced and how has the software helped them address those challenges. This is especially true in the age of accounting automation software and artificial intelligence. Here’s a look at a […]
How to Strategically Build a Powerful Accounting Tech Stack
Technology has had a profound impact on the accounting profession. Today, several innovative technologies can help accountants streamline their work and improve productivity. Building a strategic accounting technology stack is necessary if your company is looking to take advantage of these technologies. Here we’ll explain what an accounting tech stack is, why it’s important, some […]
Outsourced Accounting vs. AI-Powered Accounting Automation Software
Owning a business can be rewarding. After all, what’s better than seeing your dream come to fruition? But along with the rewards of being a business owner, there are also responsibilities; with one of the biggest responsibilities being accounting. Most business owners are not skilled accountants. Some have never even balanced a checkbook. Luckily, today’s […]
The Benefits of Accrual Accounting for Business Owners
When you own a business, one of the most important decisions you’ll make is which accounting method to use. Generally, you have two choices; cash basis accounting or accrual basis accounting. Cash basis accounting is considered the easier of the two methods as transactions are recorded when money changes hands; accrual basis accounting, although more […]
Current State of the Accounting Profession: Advancements Through Emerging Technologies
Whether you own a small or mid-sized business with multiple locations, are a corporate accounting executive in a large organization, or are a Certified Public Accountant, finances are always top-of-mind. Events such as the COVID-19 pandemic have disrupted business growth and created much uncertainty, generating greater demand for increased transparency. This has put pressure on […]
How To Set Up A Chart of Accounts For Your Business
A big part of setting up a business for success lies in the management of financial accounts. Structuring these accounts correctly is crucial come tax time, when the last thing your accountant wants to do is sift through disorganized spreadsheets and invoices. A chart of accounts gives business leaders and tax professionals accurate insights into […]
The Seven Steps to Getting a Business Loan
Getting to the next stage in your business journey can be an exciting one. Sometimes the next stage requires an influx of capital that you may not have access to. A business loan can help kickstart or elevate your business to the next level. Before securing a business loan, however, it’s important to do the […]
