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Bookkeeping Workflow – How to Create an Efficient and Automated Workflow
Getty Images by Canva Is your bookkeeping workflow getting harder to manage? Are you spending hours entering client information invoices into your accounting software and you’re drowning in paperwork? Your...
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Best Accounting Project Management Software
Source: Freepik Finance and accounting teams, large or small, juggle numerous projects, tasks, plans, and people. They often find themselves flooded with piles of paperwork and bills. As such, having...
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CFA vs. CPA – Which is Harder?
Source: pexels If you’re in the accounting field, you’ve probably heard of both the CPA (Certified Public Accountant) and CFA (Chartered Financial Analyst) designations. Both are well-respected credentials that can...
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The 7 Key Best Practices in Accounting That You Should Be Aware Of
Source: Jacob Lund/ Canva According to a recent study by the U.S. Bank, most new businesses fail within five years. 82% of the time, cash flow management caused the problem. [1] This...
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How to Calculate Liabilities
Source: Noey Smiley/ Canva Learning how to calculate liabilities accurately is important in financial reporting. Liability – the accounting jargon usually used to refer to debt – refers to financial...
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What Can A CPA Do That An Accountant Can’t
Source: Unsplash We all know accountants are important. They help us keep track of our finances, prepare our taxes, and ensure we stay within the law. But what do CPAs...
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Are Client Gifts Tax Deductible?
Source: Pexels A gift is an excellent way for business owners to show appreciation for valued clients, and it is estimated that the US corporate gifting market will reach an...
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How to Forecast Accounts Payable
Source: Tashi-Delek/Canva In this blog post, we'll show you how to forecast your AccouP and some tips on financial planning to help you make the most of your time and...
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What Are the Different Types of Accountants and What Do They Do?
Source: nikom1234/ Canva When most people think of accountants, the first thing that comes to mind is someone who helps you file your taxes. While this is one role...
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Accountancy vs. Accounting: What’s the Difference?
Source: Pexels "Accountancy" is not the same as "accounting" even if people often use them interchangeably. These two terms are familiar to anyone interested or involved in finance, and many...
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CPA for Small Business – When Should You Get One?
Getty Images/ Canva If you're a small business owner, you may wonder if you should get a Certified Public Accountant (CPA) and what their role in a business is. After...
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QuickBooks vs. Excel – Do You Really Need Accounting Software?
QuickBooks and Microsoft Excel are two of the most commonly used accounting programs, but they differ in how they operate, how much they cost, and how well they fit into...
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How to Get Accounting Experience – 6 Clever Tips
Source: Pexels Let’s not beat around the bush - getting experience is vital to your success in the accounting industry, but the competition is fierce. If you made it past...
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Inhouse Accountant – Do You Really Need One?
Source: Unsplash Starting and running your own business can be challenging. From writing a business plan to market research, securing funding, managing time and cash flow, and hiring the right...
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Benefits of QuickBooks – The Most Compelling Reasons to Choose QB
Source: Pexels QuickBooks is one of the biggest names in the accounting software industry. In fact, QuickBooks Online (QBO) version alone has about 4.5 million global users. So almost every...
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How to Become a Self-Employed Accountant and Succeed
Source: Getty Images/ Canva Becoming a self-employed accountant can be daunting and yet exciting for many who are considering what they should do with their accounting qualification and experience. Working...
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How to Build a Next Generation Accounting Firm: The Future of the Industry
Source: Pexels.com The accounting industry is evolving. With the rise of new technologies and the changing needs of businesses, the traditional roles of an accountant or bookkeeper have changed. To...
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How to Reconcile Accounts Payable
Source: Pexels Too often, accounts payable reconciliation has a lower priority compared to bank reconciliation or accounts receivable reconciliation - and this needs to change. Paying obligations on time is...
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How to Forecast Accounts Receivable for Small Business
Source: Sadeugra/Canva Forecasting is a valuable skill that allows small businesses to make informed decisions. However, it may not feel like a priority, with so many other things to...
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Bookkeeper vs. CPA – What are the Main Differences?
Source: undrey's Images/ Canva Entrepreneurs know that finances are integral to running a company. As soon as you start your business activities, you need money. Money to get your company...
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Can Depreciation Be Negative?
ansonsaw/ Canva Negative depreciation can cause warning bells to start ringing, but there are situations where depreciation is negative and still correct. If you’re looking at the balance sheet, Accumulated...
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What Are the Legal Liabilities of an Accountant
utah778/ Canva Accountants are regarded as some of the most important individuals in the corporate world. After all, it is the accountant’s responsibility to monitor a company's finances and ensure...
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What Does a CPA Do for a Small Business?
Source: Pexels If you are a small business owner, you are stretched in every direction - Developing your product/service, offering good customer service, hiring talented staff and staying on top...
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How to Keep Books for a Small Business
Source: Pexels A small business owner has a lot to think about. Sales, marketing, legislation, production, customer service, employees and finances - the list is endless. However, there is one...
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ACCA vs. CPA vs. CFA – Which Qualification to Get?
Source: Pexels 87% of HR managers indicate that hiring professionals for financial planning and analysis, financial reporting, and general accounting is the most challenging. [1] While demand is high, competition...
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Stay Ahead of the Game: Proven Strategies to Prevent Accounts Payable Fraud
Getty by Canva AP Fraud can be particularly destructive as it leads to several repercussions, including financial losses, damage to business reputation, fines, and litigation. Sadly most companies wait for...
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Best AP Automation Software for Small Business
Photo Credit: Andrey Popov by Canva As the trend towards automation continues, small businesses are strategically choosing which processes to automate that will significantly impact their operations, particularly in the...
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Accounts Payable Automation with QuickBooks – How to Actually Do It
Pixelshot by Canva Are you spending days entering invoice information in QuickBooks? If manual data entry is your biggest time sinker, and you want to: Use a simple QBO setup...
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15 Accounts Payable Best Practices in 2023
Pixelshot by Canva Accounts Payable tasks are essential for preserving a strong vendor relationship and a healthy cash flow. Unfortunately, AP teams usually face multiple challenges in their daily work. ...
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51 Most Used Accounting Abbreviations and Acronyms
Pexels Accounting departments appear to speak a foreign language because they do. Most people who work closely with the certified public accountant or chief financial officer would be familiar with...
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10 of the Best Accounting Software for SaaS Companies
Pexels The Software as a Service (SaaS) industry has exploded in popularity and seen enormous growth. If you're running a SaaS business, it’s paramount to stay ahead of the curve...
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7 Best AP Automation Software Solutions on the Market
Pexels With an expected growth rate of 12.5%, the Accounts Payable automation software market will likely increase to $7.5 billion by 2030 [1]. Demand for almost real-time information, higher efficiency,...
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Revolutionize Your Accounting Projects: Discover the Top Accounting Project Management Software in 2023
Freepik Finance and accounting teams, large or small, juggle numerous projects, tasks, plans, and people. They often find themselves flooded with piles of paperwork and bills. As such, having the...
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10 of the Best Invoice Scanning Software in 2023
Pexels With the growing number of digital transactions, invoice scanning software has become a must-have tool for businesses looking to automate and streamline their accounts payable processes. It can take...
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Accounts Payable Management – How to Do it Effectively
Pexels Introduction As a qualified accountant, you spent years studying to practice your craft. Finally, you achieved your dream. You have your own accounting firm and work hard to keep...
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10 AP Automation Best Practices for 2023
Unsplash Managing accounts payable in a business isn’t child’s play. It is one of the highest-stakes tasks there is for any modern business. After all, every thriving business needs to...
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AP Automation – All You Need to Know
Pexels Accounts payable is arguably one of the most important aspects of a business, and it's not just because it's responsible for paying bills. It's also important because it helps...
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10 Benefits of Accounts Payable Automation
The days of doing your accounts payable with a calculator are over. By automating accounts payable, you can improve efficiency and reduce costs. This blog will discuss 10 benefits of automation and how it can help streamline your operations.
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How To Reconcile Accounts Receivable – A Useful Guide
Pexels Accounts receivable is one of many things on your balance sheet, but it could majorly impact business operations. Of course, it's nice for business owners to have money flowing...
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Robotic Process Automation in Accounting – Success Stories
Pexels Over the next two decades, robots will take human jobs - or at least half of them. And even though tech advances may come sooner than expected for accounting...
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How to Simplify Your Bookkeeping – 5 Actionable Steps
Pexels If you LOVE bookkeeping and all the things that come with it, like: Staying late after work to do tedious tasks Digging through stacks of papers to find that...
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Cloud Accounting vs Traditional Accounting – What are the Core Differences?
Pexels Accounting is a dynamic field: it changes constantly. It has shifted from pen-and-paper toward a more advanced and efficient computing system. As a small business owner, you have two...
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The 10 Worst Accounting Scandals In US History
Pexels Accounting is one of the most highly regulated industries in the United States. So when accounting scandals occur, they make headlines. When accountants are dishonest, the consequences are far-reaching....
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50 Small Business Tax Deductions That You Should Know
Pexels You don’t need to pay thousands of dollars in taxes when running a small business. Don’t get us wrong; we are not saying you evade your taxes. We are...
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How to Increase Your Accounting Firms Efficiency and Profit
Pexels As an accounting firm, if you're looking to output 80% efficient results and achieve higher productivity, then focus on tweaking 20% of your processes and inputs. This is known...
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How to Package Your Bookkeeping Services to Attract More Customers and Increase Your Profit
Pexels If you're a bookkeeper, one of your top priorities is finding new customers. And if you want to attract more customers, you need to package your services to make...
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Is accounting a hard major?
Pexels When choosing a college major, many students will agonize over the decision. One of the most important deciding factors is the difficulty, and Accounting is considered one of the...
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Why Accounting is Called the Language of Business
Pexels Enough with the metaphors already, Mr. Buffet. What do you mean by accounting is the language of business? There are many theories about what this coined phrase means. But...
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The Most Important Emerging Trends in Accounting
Pexels The accounting industry is constantly evolving. In order to stay ahead of the curve, it's important to be aware of the latest emerging trends. Otherwise, accountants risk falling behind...
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How Many Accountants Does A Company Need?
Pexels The truth is, there is no one-size-fits-all answer to this question. The number of accountants a company needs will vary depending on the size and complexity of the business,...
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Is accounting a dying field? No, it’s not, and here’s why
Pexels When choosing a career, it's essential to consider the future of the industry you're interested in. You don't want to select a field with few job prospects, as this...
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How To Be Your Own Accountant
Pexels Handling and recording your finances can be daunting. Many people choose to outsource this responsibility to an accountant or financial advisor. However, with a little organization and knowledge, you...
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Incompetent Accountant? Here’s What to Do About It
Pexels It's a nightmare scenario - you hire an accountant to help with your books, and they don’t know what they’re doing. What can you do if you find yourself...
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Financial Advisor Vs. Accountant – What Are The Main Differences?
Pexels When it comes to our finances, we want to get things right. But when the time comes time to ask for help, many people are unsure whether they should...
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How to Be a Good Bookkeeper and Offer Maximum Value to Your Clients
Pexels Being a professional bookkeeper isn't just about looking after the client's financial records. It's also about providing maximum value to your clients and ensuring they get the best possible...
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How Many Clients Can A Bookkeeper Handle?
Pexels Bookkeeping is all about numbers. The more clients, the more money, right? Well, that's not always the case. Just because a bookkeeper can take on more clients, it doesn't...
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How to fix bad bookkeeping – 7 key tips
Pexels DIY bookkeeping can be tricky, and the feeling of doing something wrong always lurks in our minds. Errors can cost small businesses big if not caught early enough or...
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9 Key Benefits of Outsourced Accounting
Unsplash Like most business owners, you're always looking for ways to save money and improve your bottom line. One way to do that is by outsourcing your accounting needs. Traditionally,...
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Why Hire a Bookkeeper – 5 Simple Reasons
Pexels As a business owner, do you sometimes feel overwhelmed by all the financial tasks you have to take care of? Does the tax season send a cold shiver down...
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Accountant Not Responding? – What to Do About It
Pexels Like most small business owners, you probably don't have the time or resources to hire a full-time accountant. This leaves you relying on outside help to manage your finances...
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Controller vs Accountant – What are the main differences?
Pexels No matter how large or successful your business is, it is always a challenge to build your company's financial infrastructure. Many companies find themselves asking: What are the key...
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How to Become a Senior Accountant: The Ultimate Guide
Pexels Climbing to the top of a career ladder can be a long and difficult journey. For accountants, reaching a senior position can be especially challenging. But since most will...
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How Many Clients Do Accounting and CPA Firms Have on Average?
Pexels Starting and running a successful accounting or CPA firm requires grit and determination. If you're thinking about starting a firm, one of the first questions you probably have is:...
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When is the busy season in accounting?
Pexels There is no such thing as a slow season for the accounting profession. In fact, for many accountants, the busy season is year-round! This is because businesses of all...
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Financial Accounting vs. Managerial Accounting: What’s the Difference?
Pexels Do you know the difference between financial accounting and managerial accounting? If not, don't worry - you're not alone! Many people don't understand the distinction between these two types...
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Incurred vs. Accrued in Accounting – Main Differences and Examples
Pexels In accounting, incurred refers to when the business owes money as a result of a transaction, while accrued refers to the practice of recording financial transactions as they happen...
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Do Accountants Like Their Jobs?
Pexels. Happy employees are productive employees. And they tend to earn more money, as their optimistic approach opens them up to new experiences and opportunities. Unfortunately, work-related stress and risk...
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How Artificial Intelligence (AI) Can Simplify Bookkeeping
Unsplash As a business owner, you have a lot on your plate. You're responsible for making sure your company is profitable and growing, and that can be a lot...
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What Can Be Considered as Accounting Experience?
Pexels Accounting experience could refer to any relevant position that deals with tasks and activities related to financial reporting, using accounting software, applying generally accepted accounting principles, assurance, audit, and...
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Do Accountants Work Weekends and Long Hours?
Source: Pexels.com Pursuing a career as an accountant could be one of the best ways to invest in your education. There are different accounting careers you can pursue. As an...
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Is Accounting Stressful?
Pexels Many accountants find their careers rewarding, but it can also be stressful from time to time. Their worries also vary, from deadlines to overtime to heavy workloads to unrealistic...
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Is QuickBooks Easy or Hard to Learn?
Pexels Learning to use QuickBooks is easy for someone familiar with accounting concepts and how the accounting software works, but it can be hard for someone tech-challenged or with no...
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How To Start Your Own Accounting Business
Pexels Working in accounting can be very financially rewarding. There is so much demand for accountants globally. According to Startup Jungle, 11 countries report that they have a shortage of...
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Top forums for accountants and bookkeepers
Pexels Accounting constantly evolves, and discussions have always been integral to the profession's growth. With more people turning to the internet for advice, online forums for accounting and finance professionals...
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The 10 Best Accounting Podcasts for Accountants and Bookkeepers [2022 list]
Pexels You've to admit, getting a podcast you love can be a real treat. You find yourself looking forward to the next episode and eagerly devouring them as soon as...
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The 7 Best Accounting Books for Accountants and Bookkeepers [2022 list]
Pexels Whether you’re a solo business owner, a seasoned CPA, or a budding bookkeeper, having the right accounting books will help ensure that your finances are on point. That is...
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How to Get More Accounting Clients – 5 Effective Strategies
Pexels Every business is booming with new clients. Accounting firms are no exceptions. Whether you're an accounting firm or provide accounting services, attracting new clients is essential to your success....
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How Much Does an Accountant Cost for a Small Business?
Pexels Business owners know that accountants don’t come cheap. Though there is no universal price for an accountant, most are not cheap. But since they are vital to running the...
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Bookkeeper vs Accountant – What Are the Core Differences?
Pexels Do you need an accountant or a bookkeeper – or do you actually need both? Small business owners have historically benefited from the services of both accounting professionals. Organized...
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6 Bookkeeping Tips For Small Business Owners to Help You Thrive in the Post-Pandemic Business Environment
Pexels The post-pandemic business world is full of opportunities for savvy small business owners. A dramatic shift to online environments means that services and techniques formerly available only to large...
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How to Deal With Difficult Accounting Clients?
Pexels In the accounting industry, you will inevitably come across difficult clients. While some may be challenging to work with, it is vital to maintain a positive attitude and work...
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How to Prevent Fraud in Accounting?
Pexels Fraud is an ugly word, and it conjures up all sorts of negative images. Unfortunately, it is an all too common occurrence in the accounting world. In fact, a...
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5 Steps to Achieving Efficient Cash Flow Management
Insufficient cash flow was the biggest challenge businesses had during the COVID-19 outbreak in 2020. More than 85% reported high or medium financial impact amidst the economic fallout, government-imposed lockdowns,...
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55 Catchy Accounting Business Name Ideas
Source: Pexels There is more to a name than just a catchy phrase. A name is the first impression a customer gets of a business; it must be memorable, accurate,...
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How to Grow An Accounting Firm – 7 Effective Strategies
Source: pexels Unlike other industries, the finance and accounting sector hardly suffered due to the pandemic. Forecasts even predict higher demand for advisory services as businesses seek advice for insolvency,...
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Setting Prices that Sell: A Comprehensive Guide for Accounting Firms
Source: Pexels If you're a CPA or bookkeeper, pricing your services can be a daunting task. How do you know what to charge? How much discount do you give a...
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