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 […]
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 […]
How Shipping Companies Can Leverage Automation During the Holidays
The air is crisp, the leaves are turning and Amazon’s Prime Day is already in the books, which can mean only one thing: the holidays are nearly upon us. Between holiday gifts, greeting cards and Black Friday orders, an estimated 800 million packages are expected to be shipped during the upcoming season, marking one of the highest […]
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 […]
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 […]
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 […]
