Tips for better virtual bookkeeping for the US based business
What is virtual bookkeeping? A virtual bookkeeper handles your books of accounts remotely. You can have access to your business information anytime and anywhere through cloud-based software. You can communicate anytime without compromising your time and space. They are like any individual bookkeepers belong to your company or any accounting firm hired, but the difference […]
Steps on How to Outsource Payroll
Business owners and management are always up on their toes in managing their company to make their business grow. One of the essential tasks for many business owners and management is keeping their payroll system up to date. However, many of them find it tedious to hire new employees for managing their payroll system because […]
Making a Reporting Dashboard for an Accounting Firm
Know Why Your Firm Needs a Customized Dashboard? Every firm wants its business to run smoothly, but only a few know how to do it. There are several essential elements that can help you with it. One of that element on which you can count on is ‘Dashboard’. Let’s learn more about what exactly ‘Dashboard’ […]
Account Payable Processing In Xero With Receipt Bank
Accounts payable are the amount a company owes that to its suppliers and vendors. So, it is a liability to the business that you need to clear off as soon as possible. However, the processing of payables is not an easy job. However, if not done correctly, it can easily and adversely affect the business. […]
Using Xero for Gems and Jewels business
Xero for Gems and Jewels business In Gems and Jewels business, keeping a proper financial record in bookkeeping is very important. Jewels business is one such area where the buying and selling price depends upon certain factors. Some factors are like the amount of gold, gems and other precious items. Therefore, going for automated accounting […]
Accounting for real estate acquisition
In this current global economic world, International Financial Reporting Standards (IFRS) has been an important topic. Looking at the worldwide level, implementing IFRS seems to be a logical move. Many of the institutions and nations have welcomed this implementation; Still, some professionals find it sceptical to accept it completely. Recently, this topic is being discussed on […]
In-house vs Outsourced Accounting
In-house vs Outsourced Accounting – In their earliest days, many small business owners take care of their accounts themselves. For some, this can be a helpful way to familiarize themselves with the inner workings of their business. It also helps them to know the financial process. For many, it is a way to keep costs […]
What is Depreciation and its Accounting
Everything about Depreciation Every asset a business owns is liable to lose its original value over the years. Thus, we can say that depreciation is the ‘loss of value’. For instance, you purchase any machinery for the production of goods. The business will use that machinery for years and then, it will eventually sell it […]
Check out how Amanda reduced her Bookkeeping cost?
Bookkeeping Cost Reduction Case Study Read this bookkeeping cost reduction case study of Amanda and try to apply it in your business. Amanda is a business owner in California, USA. She owns a software company that specializes in providing cloud services. The business is going good, revenues are rising at over 35% a year, but […]
Pros and Cons of Virtual Business [Paperless Business]
When an organization runs a business, it probably looks for every streamline operation, saves time and cuts costs. In such a case, the paperless business helps towards it. Let us have a brief look at this. Pros of Paperless: Accessibility at the fingertips In a paperless business organization, it is not a big deal to […]