DIY accounting may seem like a money-saver, but hidden costs can hurt your business. Discover the risks of DIY bookkeeping and why outsourcing can save you time, money, and stress.
Effective cash flow management and strategic financial oversight are not only the pulse of every organization; they are paramount for growth and expansion. Enter the Chief Financial Officer – a versatile leader blending strategic vision with meticulous financial control.
Learn About Accounting Staff Qualifications Just as with any role in your company, you always want to make sure you are hiring qualified people to
Last week’s article extolled the virtues of budgeting…and the vital reasons why your business – and EVERY small business – should create and operate with
Tightening financial controls with a few simple procedures will make your assets safer, your accounts current, and gives you the latest financial data for strategic planning.
The purpose of closing the books is to make sure that all the financial information about your business is accurate and entered properly.
Understanding the types and hierarchy of the line items in your chart of accounts will make it easier to maintain clean books, and use your accounting software properly. The chart of accounts categories fall under a few basic groups: income and expense, assets, liabilities and equity accounts.
Closing the books means you are ending your official accounting period so you can start the next period with a clean slate. It means that once the books are “closed” there will be no more changes to the financial documents for the closed period. So accuracy is critical. The closed books are the “gospel” of what has happened in the financials for your company.
With the acquisition of Compass Accounting’s food service client base, Pacific Crest Group has substantially broadened its accounting services client portfolio in the San Francisco Bay Area’s restaurant sector.
To outsource or not to outsource…that is the question. If you find running payroll, tracking AP and AR, and being responsible for the multitude of routine accounting functions is a drain on your resources rather than being an asset to your business, you might consider hiring an experienced, reputable accounting service
Small and midsized businesses seem to be more susceptible to fraud and theft, partially because there is a greater degree of trust, but also smaller organizations don’t tend to implement the systems they need to recognize and head off fraud.
As with most entrepreneurial operations, doctors tend to want to focus on what they are really good at, which is healing patients. That means that running the office, the actual business operation, has to fall to staff members they can trust.