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Archives for Accounting

Finance Tracking: Executing A Successful Budget Plan

You have just started operations as a smalltime retailer selling products, mostly online. You know your trade – discounts and free shipping is the way to go to attract more customers.

You are doing well enough when it comes to the revenue but is this going to be enough?

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Outsourcing Medical Billing – The Benefits

Healthcare providers serve the community with one single goal in mind: healthy and quick recovery of their patients.

For any physician or medical service provider, medical practice is of utmost priority—as it should be. As such, any other activity or task, while complementary to medical practice, serves as a distraction.

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5 Reasons Your Business Can’t Afford To Make Accounting Mistakes

Accounting is a crucial component of any business; it is simply not possible for a business to survive without having a sound financial department that resonates professionalism and experience.

A business must juggle thousands of responsibilities and effectively drafting book keeping accounts can prove to be quite challenging especially if the business is growing.

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Financial Reporting Rules You Should Always Practice

Financial reporting and accounting is a diverse branch of accounting which helps the business manage their financial transactions.

Using different guidelines these financial reports are drafted in form of an income statement or a balance sheet.

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Outsource Your Payroll To Avoid These Crucial Mistakes

Every business has to deal with payrolls and effectively managing a payroll can be quite challenging, especially when the business starts growing.

There are so many different aspects that come into play when it comes to making payrolls and many businesses struggle with effective payroll dispersion. This is exactly why a substantial amount of businesses have invested in payroll solutions. 

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Guide To Identifying Signs Of Accounting Fraud

As the owner, your business means everything to you. You have spent years, as well as significant resources to bring it up from the ground and all of it today represents your efforts. This is why it may be quite disconcerting for you to finally start recognizing the signs of fraud in your business.

The first step is realizing that frauds occur. It happens more often than you know. In fact, back in 2014, a typical organization was losing as much as 5% of its revenue to accounting fraud.

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Weighing The Good And Bad: In-House Accountant vs. Outsourced

Most business owners rely largely on their in-house accounting department to receive an analysis on their financial statements at the end of every month. It is what they are used to.

At the same time, it is a fact that with the growing number of advancements across business environments, sticking with what traditional may not always be a good idea.

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Exploring key differences between accountants and bookkeepers

Accounting involves bookkeeping and a lot of other activities. People often juxtapose accountants with bookkeepers, when bookkeeping is actually the initial step in the accounting process.

So yes, bookkeeping and accounting are relevant but not the same thing. They’re both important for communicating existing financial condition, financial activity of a company, and the overall performance.

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