Best Bill Pay Solutions for Payments Made Via Credit Card, Check and ACH
Back in the day people only had a limited number of options when it came to paying for things. A few short decades ago cash was king. Then along came checks and later on credit cards became a popular form of payment. However, the digital age has brought about an entirely new set of electronic […]
Best Practices for Valuing and Selling Your Business
After careful consideration and several conversations with friends, family, and colleagues – you’ve finally come to the conclusion that it’s the right time to sell your company. Whether you’re moving into a different type of business, redistributing capital to another company, or retiring altogether, creating a proper valuation strategy is critical to understanding the value […]
Applying for a Loan? Make Sure Your Personal Financial Statement is Up to Date to Get Approved!
What is a personal financial statement? A personal financial statement is a summary of your current financial health, including your assets, income, liabilities, and debts. It’s used to evaluate your overall financial situation and to help with your personal and business needs. It should include four primary elements: assets, liabilities, net worth, and income & […]
The Shift to Real-Time Accounting Visibility with Accounting Automation
The technological shift towards automation is changing the way companies do business. Accounting in particular is no exception. The problem is traditional accounting often involves mundane and repetitive tasks that require heavy oversight, manual work, and continuous review. This antiquated style of accounting tends to be ineffective due to mismanaged data-keeping practices and delayed record […]
Make smarter decisions for your business locations with consolidated cash flow reports
Are you a business owner or manager with multiple locations? Are you struggling to get a clear picture of how the cash flow is looking across all your entities? Consolidated cash flow reports can be a powerful tool to help you make smarter decisions for all your business locations. Why is cash flow important A […]
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 […]
How Accounting Automation Can Increase Revenue for Businesses
Revenue tracking is a best practice If you ask a typical small business owner how they do their revenue accounting, they might respond that “my accountant takes care of all that”. Dig a little bit deeper by asking “So does that mean your accountant has access to your POS system (or other revenue system)”, and […]
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 […]
Will Artificial Intelligence (AI) Replace Accountants?
As the use of artificial intelligence (AI) in accounting becomes more prevalent and the technology becomes more advanced, the question on many accountants’ minds remains, ‘Will artificial intelligence replace accountants?’ AI is transforming the very core of accountancy today, and even so, experts have said that AI will not replace accountants but complement the capabilities […]
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 […]
How to Optimize Your Decision-Making with Real-Time Financial Reporting
Imagine running a report focusing on company profitability, knowing that the last few weeks of sales and cash receipts are not included. Meanwhile, across town, your closest competitor, who is using real-time reporting, can look at their report and see sales data and payments as of that morning. As a business owner, which option would […]
Why Accounts Payable Automation is a Must for Businesses Today
Accounting automation software can increase efficiency, which often translates to an increased profit margin. One of the departments ripe for automating is accounts payable. Automating AP reduces errors and saves time, yet many companies continue with their old system, reluctant to leave their comfort zone. Can artificial intelligence transform accounts payable? Many businesses remain stuck […]
