Accounting

5 Tips to Help Your E-commerce Business Prepare for the Holiday Shopping Season

Every year, businesses in the e-commerce world, face heightened sales during the final months of the year. With holiday-related gift-giving in full swing, this is a great time for many businesses to earn a large bulk of their revenue. Part of having a successful Q4 is planning ahead to utilize end-of-the-year accounting strategies and tactics that can help your company to have a prosperous holiday season. This post will highlight five best practices e-commerce companies can utilize to make the influx of holiday consumer purchases easier to navigate from an accounting perspective. 

How Bookkeeping and Accounting Can Benefit Your Business

Experiencing steady, consistent growth is the goal of every company. Businesses plan annually to make strides toward scaling up operations, hiring new employees, and earning more revenue. However, one aspect that often gets overlooked as companies expand is the need for accurate financial planning in order to make the most of the strategies they put …

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5 Ways to Use AI to Enhance Your AP Processing to Help with Nonprofit Accounting

While it may sound like the backdrop for a science fiction novel, machines are getting better at helping businesses manage their accounting needs. In today’s technological landscape, there are a plethora of apps that integrate with popular accounting software to help expedite difficult processes that can get bottlenecked by humans. Based on the versatility of …

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5 Tips for Creating a Budget That Aligns with the Business Strategy

As businesses grow, so do their budget requirements. This is one of the most pragmatic financial truths that business owners should strive to incorporate into their financial strategy. As your business expands, it’s important to also have a solid roadmap in place to align your budget with your growth. After all, if you don’t have a …

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7 Tips to Recession-Proof Your Business

Many business owners don’t realize that our economy has natural cycles of expansion and decline. For this reason, businesses would do well to prioritize being prepared year-round should the market take a turn for the worse. In the event of a financial downturn or a recession, circumstances can change suddenly and unexpectedly, leaving business owners wondering what to do next. Fortunately, maintaining some fundamentals as a business before a difficult situation emerges can make it much easier for owners to ride the natural waves of the economy. In this article, we’ll discuss some best practices on how to prepare for a recession.

The Fundamentals of Nonprofit Accounting

Working or volunteering in a nonprofit organization can be a rewarding opportunity for many. Whether you are excited by the prospect of creating new positive change, or simply contributing to an established organization’s mission in the world, nonprofits offer a lot of promise to do something meaningful. Whether one is making a career switch from …

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What You Need to Know About Cryptocurrency

One of the hottest topics of innovation in the financial world today is decentralized cryptocurrency housed on the blockchain. In light of the shifting financial forecast brought on by COVID-19, many public companies are holding Bitcoin (BTC) and other cryptocurrencies as a percentage of corporate treasury. (For non-savvy cryptocurrency newbies, Bitcoin is the first and …

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The Tax Preparations You Need to Know for 2021

In 2020, there were drastic changes in operations for small and medium-sized businesses. These unprecedented obstacles have created several new considerations for tax preparation for not only the 2020 tax year, but also for filing your 2021 return next year. With added complexities due to Covid-19 in several key areas, many business owners are questioning the …

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Complex Issues Facing Accounting Departments

Understanding the financial impact brought on by the global pandemic has proved challenging for many accounting departments in the past year. A host of complex problems has surfaced as a result of operational struggles during uncertain markets and constant fluctuations in an onslaught of new, unexpected business needs.  Luckily, it’s never too soon to start scenario …

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Accounting for Small Business: Soothing the Pain Points

Knowing how to properly manage accounting for small and mid-sized businesses may seem like an easier task due to the smaller nature of the companies. However, many times it is the founders and senior members of the company who are tackling the daily ins and outs of small and mid-sized business (SMB) accounting. In addition …

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7 Behavioral Traits That Make Great Startup Founders

While there are many behaviors that separate great leaders from posers, there are 7 behaviors that every successful startup founder has in common. Building a startup is like continuing to put your hand in a light socket and getting shocked over and over. It is painful and sometimes seems like the end of the world. The ups and downs …

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5 Bookkeeping Tips for Small Business Owners

Millions of small business owners struggle to complete their bookkeeping on a monthly basis, and for many of them, it is an unwelcomed chore. Most people aren’t “accounting” or “financially” focused people, and most small business owners would much rather spend their time doing the fun part of their business which is providing the service or selling the product …

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