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 […]
Artificial Intelligence in Accounting: AI Dependency on Human Interaction
None of us are born with the innate ability to perform algebraic equations, drive a car, or balance a checkbook. Instead, we’re shown how to do those things, practicing until we get it right. Our brains act as computers, gathering information, processing it, and using it as the basis for further growth. Artificial intelligence, or […]
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 […]
FREE: FAQs On Small Business Finance
One topic is on every person’s mind who is thinking of starting a small business. Business financing! How do I get my startup capital? Should I use most of my personal savings or is it better to take a loan? Are there any other options? How much debt is the norm? What are…
