With today’s growing and ever-changing regulations and compliance landscape, clients expect their accountants to offer more value-added services in addition to bookkeeping. This new growth mindset is not limited to CPAs, as accounting firms are also creating ways to add more value. According to SourceMedia Research, 98% of accounting firms are exploring ways to diversify

As a business owner, it can be a daunting task to determine the perfect financing option for the growth of your small or mid-sized business. Let’s dig into the top five ways of financing: debt, equity, and the latest alternative financing options: crowdfunding, peer-to-peer lending, and corporate cards. Types of Financing Options Available 1. Debt

Want to grow your business? Good business credit is the key to getting funding for your venture, but establishing a positive business credit history does not happen overnight. Here are the top three ways to make your business creditworthy. 1. Maintain a Healthy Business Credit Score Your personal and business credit history is an important

For various reasons, many small and mid-sized businesses don’t budget. A staggering 61% of small businesses didn’t create a budget in 2018 and around 82% of startups fail just because of cash flow problems. Below are five reasons why budgeting leads to financial stability and success of your business. 1. Predicts cash flows and avoids

While technology can ease the modern CPA’s workload, it can also drive them completely mad. To help control the chaos and boost productivity, CPAs require a Tech Stack. It’s a set of third-party apps and connected services designed to work together and boost your daily efficiency and effectiveness. Sensitive data, regulatory changes, and savvy competitors

Most contemporary practices, including CPA firms, utilize modern technology to manage their data more efficiently. This includes startups and even small businesses where electronic document management systems and cloud based reporting are gaining traction in replacing paper files, especially for processes such as accounting and bookkeeping. There are many benefits to online accounting, several of

Most startups and small businesses are familiar with tax filing time chaos: hurried organizing of transaction records, looking for loose ends such as missed payments or missing receipts for payments made, etc. For restaurants however, the financial loss incurred due to a last-minute rush can be significant, given the sheer volume of transactions. Startups and

82% of startups and small businesses fail due to poor cash-flow management! Has a new business client ever come to you after a missed payroll? Turns out your vendor trust is more than just a firm handshake when your cash flow is running low. While it is only natural for small business owners to focus

Positive cash flow is significant to a growing business because it has the power to influence business sustainability. A rapidly growing, profitable business needs to consistently work on ways to increase the cash flow alongside maintaining the growth momentum. Even seemingly minor matters such as an invoice payable to a supplier being due before an

Operating restaurants in multiple locations presents both bookkeeping and accounting challenges, including: Monitoring and managing non-central payments or payments made at different locations and payments made in diverse forms such as cash, debit card, credit card, etc. Monitoring Point of Sale or Service, including financials to ensure the customer experience is consistent across locations. Ensuring