As businesses continue moving to the cloud, it is vital to assess and analyze the elements that are a requisite for cloud-based operations. It is important to remember that the cloud-based accounting software selected should provide the same benefits of traditional brick-and-mortar or paper-and-pen accounting but through hosting on remote cloud-based servers. We have compiled

Small businesses require an infrastructure that is robust and dependable. Reliability is high on the list of necessities because the failure of a single component can cause the rest of the set-up to break down. This is even more critical for a startup or a small business which cannot afford a disruption, as it can

A business, whether a startup or an established one, needs reliable bookkeeping and accounting support to sustain financial stability which eventually translates into growth. More businesses falter and sometimes cease to exist because of a lack of adequate financial support. This can be prevented with judicious financial planning. Following are several reasons why a small

Imagine doing business without the knowledge of whether the efforts and investment spent are of any use at all or not. Ratios are vital to business, to measure growth or any advancements from its starting point. Here are some ratios that are essential to a small business growing rapidly into a mid-size one: Efficiency Ratios

A metric is by itself a quantifiable measure used to assess a business process. Metrics are different across industries and roles: marketing metrics differ from sales metrics, in turn differing from those measuring consumer satisfaction, employee performance, etc. Business metrics are vital for any business from the standpoint of efficiency and performance. For any business

Both, cash and accrual methods are used for recording accounting transactions. Cash Method With the cash method, there is no record of accounts payable or accounts receivable. Instead, revenue is recorded when cash is received and expense is recorded when cash is paid out. The cash method also serves as an indication of whether there

Accounts receivables (AR) keeps stock of the payments received by the business. For a business that is generating a considerable income, managing to keep expenses low, and ensuring effective daily operations, losing track of the accounts receivables still remains a reality and one that can have a negative impact. For a growing business, it is

Financial sustainability of a business depends on several factors, including its accounting and bookkeeping functions which form the basis of strong financial operations. The presence of robust financial operations typically indicate diligent bookkeeping and accounting practices. Furthermore, a reliable accounting division in a business may be determined by the collective strength of the accounting team’s

A CFO is indispensable when it comes to driving value and growth by supporting financial operations, budget compliance, and operations management while keeping costs controlled. Today, the CFO is emerging as a primary engineer of overall business success, not just financial success. While the key responsibility area of a CFO remains financial operations, it is

Audits are conducted for several reasons, one of them being to ensure that reports and financial statements conform to requirements. Audits also provide information on the business’s accounting and whether or not it is in order. Investors and other shareholders utilize audit information to understand the financial health of the business. Furthermore, the IRS may