• Smartphone remote payment

    Intuit’s GoPayment for remote payment processing for sales

    There are times when you have opportunities to make remote sales, and some of which you may lose because of a lack of suitable options to charge your customers. At trade fairs, art shows and other such gatherings, you may have seen small credit card swiper devices that can be easily attached to the mobile […]

  • records

    Electronics Records: Some tips to bear in mind

    Accounting software packages offer a great deal of convenience and ease of usage as far storing Electronic Records are concerned. Most documents are scanned and allocated a specific spot in the large repository of information within the software. But, when it comes to answering any question from the IRS, there are some specifications which need […]

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    The advantages of bank reconciliations

    What is bank reconciliation? Bank reconciliation is a tool for managing financial transactions. Simply put, a procedure performed by businesses that matches the balances in the company’s cash account records against the corresponding entries in a bank statement. This process is generally done on a  daily basis. It helps in finding discrepancies and making adequate […]

  • Dollars funnel.

    Top 10 tasks in your Business Accounting checklist

    Monitoring your business finances does not need to be a trial-and-error process. By simply introducing/implementing a necessary financial system or process, one can have a stress free approach to business finance. It is important to have certain protocols in place like recording of daily transactions, bank reconciliations, financial reports, variance analysis, reviews and forecasting. This […]

  • Payroll Accounting

    Outsourcing payroll services – What to consider?

    Payroll services are often handled by third party payroll service platforms for small businesses. It seems more convenient and surprisingly cost effective than to have a dedicated person or team to do payroll. However, handling payroll services can be tricky. A small error can result in a major financial faux pas and can lead to […]

  • bookkeeping

    Record keeping – A boon for accounting and taxation

    Record keeping implies the system of maintaining business records and documents. This helps in quick and easy retrieval of the same for accounting use. Good record keeping is essential for the health of your business. It is also mandatory by law to maintain accurate financial records. Every business must endeavor to have good record keeping […]

  • Tax tips for small businesses

    it is often found that many small businesses end up overpaying taxes. This can be because they are ignorant about many deductions. Tax deductions are legal and allowed by tax laws. You do not break any laws as per the IRS when you claim deductions. Here are some tax tips for every small business owner: […]

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    Common accounting mistakes for small businesses

    Tax times are taxing for most business owners with the rush to adhere to all deadlines. There is no reason why that should be. Tax accounting is a critical element for every business owner. By watching out for some common errors, a lot of potentially damaging errors like getting an audit or going out of […]

  • Bookkeeping

    Choosing the right accountant: Some advice from small business owners

    Keeping your finances in order is absolutely crucial for the health of a business say many small business owners. Often small businesses either have a skeletal in-house workforce to take care of bookkeeping and financial tasks or outsource their bookkeeping and accounting needs. Either way, it is important that the accountant is chosen after much […]

  • Balancing accounting

    The basics of a Balance Sheet

    A balance sheet is an important financial statement. It gives a bird’s eye view of the financial situation of a company at a given point in time, which is usually the end of an accounting period. It comprises of Assets, Liabilities and owners’ equity. At any given point in time, assets must equal liabilities and […]

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    Basics of financial projections and forecasting

    Financial forecasts help you estimate how your business will perform going forward. It helps you to plan for and achieve your business’s financial goals as well as to set future goals. What are financial forecasts? Financial forecasts, as the term suggests, is a budget for your business. It is a financial plan that gives an […]

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    QuickBooks Reports You Should Run Regularly

    QuickBooks is the software of choice for a lot of small and medium-sized companies when it comes to bookkeeping, taxes and financial reports. QuickBooks has some really good report formats that can be customized as per your requirements. You may be using many of these report formats and running them from time to time. But […]

  • QuickBooks Ready

    Quick tips for using QuickBooks

    QuickBooks is the accounting software of choice for many small and mid-sized companies when it comes to financial accounting for businesses. It can be used even by those having little accounting experience. These are some quick tips to help use QuickBooks more effectively: Use keyboard shortcuts: There are some nifty keyboard shortcuts that help you […]

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    Top 5 reasons to outsource your Bookkeeping Department

    Are you struggling to keep up with your company’s bookkeeping chores? Is your staff unable to cope? Are you feeling the need to employ more and better qualified financial hands to keep up with the tasks? Then it is time that you considered outsourcing your bookkeeping department. You can get the benefits of full-time accountants […]

  • Remote bookkeeping

    Understanding bank reconciliations

    A company has two records of its financial transactions – one is its bank statement and the other is the bank balance as per the company’s accounting records. Sometimes, you will find that these two statements may not match. A bank reconciliation statement attempts to clarify and support the difference between the above by giving […]

  • Account folders

    How to know if it is Time to Hire a Professional Accounting Service

    Most businesses in their infancy try to concentrate on their core business activity. Hence financial and accounting activities often get pushed to the periphery. Most times owners take on the onus of accounting and even tax-related responsibilities and may hire a person or two to assist them. As the business grows, the number of employees […]

  • Accounting outsourcing

    Common business accounting mistakes to avoid

    As the business expands, so do the accounting processes. Your bookkeeping systems and financial processes may need to evolve as you add more products, services and employees. Often business owners do not have accounting on their radar when they scale up their operations. It is possible to slip up and make accounting errors that can […]

  • Payroll Services

    Basics of Payroll for employers

    Expanding the scale of operations often goes hand in hand with employing more people. As exciting as the process of expansion often is, hiring employees comes with its own responsibilities. The employees must be paid correctly and all the required taxes must be withheld and then deposited appropriately. Records have to be maintained in specific […]

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    Can you expense Classes and Workshops?

    Often businesses are not so aware about certain expenditures that can be expensed. This causes them to lose deductibles which can be treated as cash savings. It is important for business owners to know that training in the form of courses or classes that are crucial, both for the employer and employees can be deducted […]

  • Tax troubles

    5 ways to reduce your tax troubles

    It is never too early to plan for simplifying your taxes. Whether you are an individual or a company, it is often seen that there is a mad rush as soon as the tax deadlines approach to achieve last-minute compliance. Putting good systems in place to ensure that you don’t have to contend with heaps […]

  • Outsourced bookkeeping

    Independent Contractor or Employees

    Every company faces this dilemma no matter how big or small. There is always a cost involved when it comes to hiring new people, and we are not talking only about pay and perks here. While companies these days consider the option of independent contractors and remote outsourcing, they must also understand where they stand […]

  • Remote bookkeeping

    Technology helps Remote Bookkeeping

    Remote bookkeeping is a sensible option for companies of any size to outsource specialized financial tasks to offshore firms that offer quality services at reasonably low costs. With the world getting smaller and increasingly better connected, new technologies have offered businesses a way to have cutting edge services at their disposal despite the geographical distances. […]

  • Bookkeeping

    Best practices for Bookkeeping in a company

    Bookkeeping is one of the most important financial processes when you run your business. It is a job for the specialists. Yet, as a business owner, there are best practices that you must commit to following as a matter of good financial policy. Many businesses fold up due to poor financial management. And the business […]

  • Outsourced bookkeeping

    5 Important Benefits of Outsourcing Bookkeeping remotely for US Companies

    Most organizations that handle their bookkeeping and accounting tasks in-house have a small work force that takes care of operations.  This workforce is normally comprised of a supervisor assisted by a few employees. Bookkeeping daily activities involve: accounts payables and receivables, billing, payroll, expense reports generation, and General ledger management. These are generally handled along […]

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