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Overcoming The Pre-Accounting Hurdle Of Data

PYMNTS

Once all this information has been be gathered and codified, only then can it be entered into an accounting system — another time-consuming process. Open Banking is another initiative that has opened up opportunities to ease the data burden in small business accounting.

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Plugging Expense Leaks With Spend Management Solutions

PYMNTS

PYMNTS research found that 42 percent of B2B payments were made via paper check in 2019, for example. The question of disrupting operations to link spend management with older legacy systems need not apply to a spend management upgrade, according to Paula Bachman, chief financial officer at solutions provider Bento for Business.

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How SME Accountants Can Compete With Software

PYMNTS

Automation and accounting software may be to blame, the publication said. So, why, then, would a corporate accounting and consultancy firm want to introduce its own, sophisticated cloud-based accounting tool for its SME clients? That’s what accounting, consulting and advisory firm BDO is doing.

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Payment Link Payments Benefits: How Customers Can Pay With Payment Links

Snyder

While choosing how to handle online payments, you need to keep in mind a range of criteria and pick the payment method that not only satisfies them to the fullest extent, but will also comply with the accounting system you’re using for your finances. The transaction immediately appears in your Stripe or Square account.

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Breaking Down Stripe Fees: A Quick Guide to Stripe Fees For E-commerce Businesses

Snyder

So today, Stripe can help various companies process their financial transactions, including e-commerce, online/offline retail, B2B/B2C platforms and marketplaces, SaaS, non-profits, etc. Stripe fees are, by nature, expenses, and they can be tax deductible, so it’s critical to correctly categorize them in accounting.

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Open Banking Expands Its Horizons For Small Business Finserv

PYMNTS

When it comes to open banking, currently accounting platforms are taking advantage by allowing their customers to synchronize their banking transactional data into their accounting system,” Cordona said. However, we see this as just the beginning.”. Expanding Use Cases.