Restaurant accounting is a specialized activity that often requires more attention than accounting for other industries given the high volume of transactions throughout various parts of the day. If you choose to operate a restaurant, what does that indicate about your passion? Probably one of the following two things: You love to cook; you probably

Accounting is detailed. Accounting is tough. Get even a single digit wrong, and you will see what we mean. Gearing up for tax time? We know how it feels! Here’s a succinct collection which is our take on the accounting life. Never a dull moment!

Automating essential functions, including financial operations of a business, is on the rise. The trend probably is a result of greater demands for transparency and higher quality expectations from clients. CPA firms and other accounting practices are keeping pace with this and choosing a double advantage: 1. Automating key financial operations and 2. Choosing to

Automation goes a step beyond conventional bookkeeping practices: the involvement of machine or software means that data management is easier and the likelihood of error, including human error, is reduced. Given the importance of attention and detail-orientation required in standard accounting and bookkeeping, even seasoned accountants and CPAs grow weary and fatigued. Add to this

For various reasons, the practice of CPA firms to outsource core functions has been on the rise.  There are greater client expectations on CPA firms to provide financial transparency and compliance. Simultaneous to this, the firms are also faced with complex and time-consuming accounting and bookkeeping tasks that limit their growth and ability to expand

Many small to mid-sized businesses struggle to balance performing critical operational tasks, such as accounting and bookkeeping, with functions essential to the core of their business. CPA firms are no different.  Many of their own administrative functions that are necessary are also very time-consuming. These tasks often detract from the CPA firm being able to

Blockchain carries the potential to ring in transformation within any industry where it is applied, and not just in accounting services and financial operations where it currently helps enhance transparency and clarity in transactions. Its emergence is being watched with great interest because the requirement for a trustworthy application for conducting business transactions stays intact

Tax season can either prove to be a nightmare for a small business or provide a chance to strengthen the business’ position through meeting payment obligations and deadlines. For most small businesses that operate within budget limitations, the bookkeeping and accounting is mostly carried out by the founders themselves to ensure diligence and accuracy in

Cloud accounting enables easier access to business data and information while helping ensure better collaboration between team members and people running the business. Financial information pertains to reports detailing financial activities and status, including documents such as the balance sheet, financial statement, reports on assets and liabilities, etc. Financial information effectiveness is directly dependent on

For a business to survive, it is vital that its finances are well-managed. However, for most small businesses, expenses are driven by budgetary considerations. With tight budgets comes the necessity to exercise caution when spending. Here are some money saving tax tips for small businesses: Assess Tax Liability Tax liabilities differ according to the business