A streamlined accounts receivable system supports strong business financial health. Businesses often have unpaid dues that can quickly morph into overdue debt, eventually seriously hurting the business’s ability to make critical investments. Overdue client payments are often the first sign of poorly-managed account receivables. If business owners were to personally follow up on all collections,

The business year end, or fiscal year, may not always overlap with the calendar year, which is why it is vital to plan for year-end financials early to prevent slipping into a false sense of being on schedule. One of the most important steps to be taken for better year-end financials would be to gain

Running a business successfully requires managing multiple tasks simultaneously. Out of those many tasks, accounting holds a significant position. Accounting handles records, business reports, and many other financial interactions. Traditionally, most accounting functions were completed manually with an accountant’s assistance.  However, manual accounting has many disadvantages including it consumes a lot of time and is

A company’s balance sheet is termed a “statement of financial position,” that reveals the assets, liabilities and net worth of a firm. The balance sheet, along with income statement and cash flow statement, is an integral component of financial statements. As an investor or shareholder, it is important that one is aware of the structure

Accounting and bookkeeping are functions essential to every business, regardless of size and industry. These are also time and attention-intensive functions because the results influence the financial health of the business. Although there is a range of software available that can help small businesses with their accounting needs without investing heavily in either expensive manpower

An E-Commerce business has the same operational concerns as any other business with the added considerations of how to conduct business online. The same rules apply to the operations and administration of an E-Commerce business, regardless of the industry in which they operate in. However, E-commerce frameworks, payment terms and platforms are different, therefore online

E-Commerce businesses require a strong online presence and effective processes, such as a hassle-free payment option, to be successful. There is no human personal interaction in an E-Commerce transaction, so a seemingly small hurdle, such as difficult navigation or glitches when making payments, could cause a visitor to abandon the website or cart. With payment

Think streamlined operations, think better-managed accounts payable functions, think transformation that has the power to improve business bottom-lines. Automation, when done well, can help enable all of these. Automation for accounts payable is fast becoming a preferred choice for startups and small businesses. Almost all accounting and bookkeeping functions require maintaining logs and records of

Small business owners routinely face certain challenges within accounting and financial operations that could derail the business if left unattended. Some of these challenges have the power to influence business operations, profitability, efficiency, and sustainability. Identifying and understanding how to overcome them is vital to a business looking to grow. Cash Flow Management For a

Service Level Agreements, or SLAs, are crucial not just from the perspective of ensuring high quality work, but they are also significant when it comes to maintaining consistency in deliverables. Because SLAs define customer expectations better, it is crucial to draw up an SLA even when entering into strategic partnerships. In a strategic partnership, it