Importance of Business Consultation in Today’s Competitive Environment
Business consultants are people who help startups and established businesses to grow further. We can see you rolling your eyes…
As a small business owner you are probably used to doing everything on your own. From setting up the business to hiring employees to managing accounts- you don’t want to depend on anyone else.
Automation in Accounting – What the Future Has In Store
Accounting is a complex task made easy with computer software. Programs like QuickBooks offer a chance to automate the process and ease the payroll, taxes and other business aspects.
The automation will of course transform accounting and bookkeeping services. Just like every other field, new technologies and software will take the field by storm. But, what does it mean for small businesses?
Some Tax Saving Tips for Businesses
Tax time means stress time- this rings especially true for small business owners.
Established businesses have tons of people looking after taxes, but startups and small businesses are still in the phase of holding their ground. They really can’t afford hiring so many people.
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.
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.
Watch Out For These Medical Billing Errors At Your Practice
As the government and insurance companies continue to make their way to the healthcare industry, the chances of errors at medical practices are growing rapidly. To curb costs, medical practice managers are growing distant from medical coding professionals—but is it really worth it?
The first step towards generating revenue for your medical practice is streamlining your medical billing procedure.
Common accounting terms business owners should be familiar with
We know that not everyone is a fan of accounting. At A&B Accounting and Business Solutions, LLC., we work with the experts in accounting to make things easy for business owners.
However, we want what’s best for our clients. Hence, we work hard to keep you informed and updated about your accounts and other services you’re availing. While we try our best to keep it simple, some accounting terms make way in our conversation.
Keep your company’s accounting and tax information updated
Starting a business is easier than making it successful down the line. When you own a business, whether small or big, you must be aware of everything which keeps it going.
Information, or data, is one for the most important things for a company. Information related to expenses should particularly be stored and updated from time to time. This will help you with while filing tax forms and also to make important financial decisions.
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.
3 Reasons You Need To Change Your Current Bookkeeping Service NOW!
There are more than a few bookkeepers out there who are not up to the mark. More than often, we receive calls from troubled companies that have just let go of their bookkeepers and are looking for immediate help.
Once we take a look at their books, we realize the impact of negligence and mismanagement. From oversight and miscalculations, we come across all sorts of things.
In this blog post, we discuss top three reasons you should consider changing your bookkeeping services, right now: