Accounting and financial services always grabbed a major share in outsourced services. However, the unprecedented COVID-19 has further increased this share as the CPA firms all around the world are benefitting from outsourced booking and accounting services more than ever. For instance, at Outsourced Bookkeeping we have registered higher growth in the pandemic years as […]
No other accounting function has as much sway on the business cash flow and bottom line as Accounts Receivable. Being the lifeblood of a business in terms of revenue Accounts Receivable is the critical aspect of business accounting that needs to be efficiently managed for smooth business operations. However, the majority of the businesses face […]
An accurate record of all the financial transactions – sales, purchases, payments, receipts. Payables and receivables in a detailed way are called bookkeeping. As dynamic as they tend to be, start-ups are not usually mindful of the cash flow and do not adequately record these transactions as the funders and personnel juggle through multiple tasks. […]
As many as 55 of the largest companies in the United States paid zero income tax for three years from 2018 to 2021. Their tax strategies even made them richer by a few million from the tax rebates a polar shift from small and medium businesses that often end up paying fines in addition to […]
As the most important event in a monthly accounting cycle, the month-end close process is where all transactions are accounted for, balances are finalized, and reports are generated to provide key insights to aid in decision making. An efficient and accurate month-end close process is key for setting up a reliable accounting system. It improves […]
One of the biggest accounting challenges faced by businesses all around the world is lack of consistent cash flow and lack of efficient Accounts Payable Process one of the major causes. However, the problems caused by inconsistent AP doesn’t end there. Problems in invoice processing and the AP problems that follow can impact the production […]
Payroll processing and management are not as simple as everyone assumes them to be. Efficient payroll processing at scale is a complicated task to accomplish without external assistance from outsourced accounting firms or payroll service providers. Payroll processing is laden with so many complex tax regulations at the state, federal and local level that errors […]
Access to the top accounting experts improved productivity, scalability, saved time and costs – outsourcing bookkeeping and accounting services offer myriad benefits to businesses of all types and scales. However, most businesses fall short of unlocking the full potential of outsourced accounting services due to a lack of solid strategy and a plan to leverage […]
Be it a small, medium or large business, strategic planning is key for business growth especially when the entire world gradually making its way through the pandemic. To accurately plan for the future and take the right steps every business needs, a sense of direction which comes from understanding the past and current business is […]
With the global market back on its feet, the need for financial and accounting intelligence is higher than ever and so is the competition among CPA firms to trigger business growth in 2022. The capability to get more done in less time at a high scale is a USP that most CPA firms look to […]
