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Changing Accounting Systems: Tips for Switching to New Software 2023

Accounting Seed

Changing accounting systems can feel intimidating. Even if the legacy accounting system you currently use doesn’t have the features, speed, or power you need, at least it’s familiar. Sometimes though, the benefits of switching to new software begins to outweigh the cost of learning a new system.

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The Importance of an Accurate Balance Sheet

Basis 365

As a business owner, it's crucial to have an accurate and up-to-date balance sheet. A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. Assets include your business's value, such as cash, inventory, or property. What is a Balance Sheet?

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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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Startup Accounting Guide: Everything You Need to Know in 2022

Accounting Seed

If you fail to set up a robust and scalable accounting system from day one, your business will suffer from financial errors, poor planning, growing pains, and a high potential for failure. On the flipside, if you get your accounting set up properly from the start, you’ll set your new company up for success.

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How to Improve Accounting for a Transportation Business: 4 Essential Cash Accounts

Anders CPA

That said, everything your business does comes down to cash. Not just how much you have on hand, but how effectively you’re keeping track of it and ensuring your cash management practices and financial statements allow you to run your business with as few surprises as possible.