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Five Bookkeeping Issues Solved by Not Doing It Yourself

By Analytix Editorial Team

May 1, 2020 0 Comments
Five Bookkeeping Issues Solved by Not Doing It Yourself

Many small business owners find bookkeeping time-consuming and intimidating. In fact, many bootstrapped startups prefer to cut costs using shortcuts like do-it-yourself accounting. DIY Bookkeeping Downsides According to a Clutch survey of 302 small businesses , almost half of small businesses (45%) employ neither an accountant nor a bookkeeper.  Over time, as the company grows,

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How CPAs and Accounting Firms Can Tackle the Coronavirus Crisis

By Analytix Editorial Team

March 27, 2020 1 Comments
How CPAs and Accounting Firms Can Tackle the Coronavirus Crisis

As the crisis around the new coronavirus (COVID-19) continues to expand, it has brought the US economy to a grinding halt. While natural disasters and cybersecurity have pushed most CPAs and accounting firms to develop a business continuity plan, few had expected the huge impact of such an unprecedented massive outbreak. It is now important

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Five Signs Your Startup Needs a Controller

By Analytix Editorial Team

March 24, 2020 0 Comments
5 Signs Your Startup Needs a Controller

Many startups may not need a controller during the early stages of business development. Besides, their budget may not allow for the hiring of one either. For boot-strapped businesses, it is usually the owners who work on finances to save on hiring costs. Eventually, however, only well-managed finances keep a business sustainable. A controller, even

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CPA FAQs – How to Keep Clients Updated on Accounting and Tax Law Changes

By Analytix Editorial Team

March 16, 2020 1 Comments
CPA FAQs - How to Keep My Client Updated on AccountingMB and Tax Law changes

Accounting law changes could mean that businesses must modify their payment obligations. However, most businesses are unaware of the consequences tax law changes have on business sustainability. They rely on their CPA for support and guidance in accounting, including tax updates. CPAs, therefore, are no longer simply accounting professionals; they function as guides to businesses

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Small Business Owners – What Are Your Goals For 2020?

By Analytix Editorial Team

March 9, 2020 0 Comments
Small Business Owners - What are your goals

One of the most common reasons why small businesses fail is the failure to set clear goals. Goal setting is the key to success for small business owners. Whether for increasing cash flows or embracing automation, the time is right to set targets for the year ahead. To help you get started, here are three

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5 Ways DIY Bookkeeping is Bad for Business and Growth

By Analytix Editorial Team

March 2, 2020 0 Comments
Is DIY Bookkeeping Causing Troubles To Your Growing Business

According to a U.S. Bank study, a whopping 82% of businesses that failed cited cash flow problems as a factor in their failure. As for new businesses, 50% closed shop during year one, in part, because they didn’t understand basic bookkeeping. In fact, majority of business owners are inexperienced in bookkeeping, but many choose to

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Best Practices to Maintain Healthy Cash Flow

By Analytix Editorial Team

February 27, 2020 0 Comments

Maintaining healthy cash flow is a daunting task for even the savviest business owners. With poor cash flow management, it only takes one small downturn to cause your business to close shop completely. Fortunately, there are steps you can take to increase your cash flow and avoid potential problems. Here are the best practices that

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How to Fix Cash Flow Issues in Small and Mid-Sized Businesses?

By Analytix Editorial Team

February 27, 2020 0 Comments

For small business owners and startups, cash flow often becomes a hurdle that keeps them from achieving their full potential. Part of the struggle stems from tight margins, and at times from a smaller client base, which ultimately means fewer cash flow channels. According to Intuit’s 2019 State of Cash Flow Report, nearly two-thirds (69%)

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Technology Adoption a Must for Accountants to Stay Competitive

By Analytix Editorial Team

February 25, 2020 1 Comments
Technology Adoption a Must for Accountants to Stay Competitive

The rapid pace of technological change continues to disrupt traditional procedures in all circles, including the accounting profession. With increasing market demands, changing regulations, and generational changes, accountants must adapt quickly to stay relevant. According to the Practice of Now report by Sage, 85% of accountants stated: “We need to pick up the pace of

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Create an Area 51 for Business Financial Information

By Analytix Editorial Team

February 20, 2020 0 Comments
Create Area 51 for Business Financial Information

When you think of Area 51, the U.S. Air Force facility in Nevada, you likely associate it with UFOs and secrecy. Guess what comes to mind here at Analytix? It’s the facility’s super-high-level security, which is practically impossible to breach. We know it’s a bit of a stretch, but what if your crucial data and

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