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How TCS Guernsey Reduced AP Tasks From 3 Days to 10 Minutes

Accounting Insight

Founded in 2019, TCS Guernsey supports local businesses with outsourced bookkeeping and payroll services. As one of just a few bookkeeping companies on the island, they take pride in supporting small, local businesses. This led to time-consuming, labour-intensive, and manual accounts payable processes.

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Top Tips on Cash Flow Management for Startups

inDinero Tax Tips

But when its time to develop a budget for your startup or present progress to investors, youll need two foundational pieces: A bulletproof bookkeeping system A three-statement financial model Collectively, the income statement, balance sheet, and cash flow statement show your revenue, expenses, debt, equity, and cash flow over time.

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Small, Medium, or Large? Clearing Up Business Sizes and Accounting Expectations

Basis 365

We often hear business owners say they are a "midsize" company or outsourced bookkeepers state they serve both small and midsize businesses. This blog will help define what small and midsize businesses really mean in terms of revenue, headcount, and financial complexityand where bookkeeping fits into the picture.

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10 Bookkeeping Best Practices Every Business Should Outsource

Basis 365

If youre finding it difficult to keep up with your bookkeeping but dont want to hire an in-person accounting team, its time to consider alternative solutions! Outsourcing your accounting needs can scale with your business while ensuring accuracy, and its quickly becoming a standard for successful businesses.

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Tech Startup Accounting Insights From A Y Combinator Company

inDinero Tax Tips

But when youre short on time, there are a handful of variables you should always monitor regularly: Money In (Accounts Receivable): What revenue is coming in, and when. Money Out (Accounts Payable): What expenses are due, and when. In short, bookkeepers are record keepers. Create process documents for training.

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Xero to acquire Melio: A payments game-changer for small businesses across the US

Xero

We also know that more than 70% of US SMBs place a high importance on having their accounting and accounts payable software tightly integrated, but only a small minority actually have access to integrated accounting and accounts payable. But these tasks shouldn’t be a manual headache.

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The Month-End Close Process: A Behind-the-Scenes Look for Business Owners

Basis 365

This step is crucial because it ensures that all financial activities for the month are accounted for, leaving no transactions overlooked. Typically, the accounts payable and accounts receivable teams play a significant role in this stage, collecting invoices and receipts from different departments.