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FinQuery Launches Prepaid and Accrual Accounting, Helping Accountants Eliminate Errors and Accelerate Close

CPA Practice

“Our analysis shows more than 70% of our customers are using Excel for prepaid and accrual accounting today, which is why we are thrilled to introduce prepaids and accruals in FCM,” said George Azih, Founder and CEO of FinQuery.

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Preparing for Your First Financial Audit: A Checklist for Startups

Shay CPA

Enter: a financial audit. This tool gives you a way to validate that your company is following proper accounting practices and that your books are accurate. Thats not to say that audits arent burdensome. Thats not to say that audits arent burdensome. And this isnt just an audit-specific to-do.

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

Basis 365

Early-Stage Businesses Revenue: Typically between $1 million to $10 million Headcount: Around 10 to 50 employees Financial Characteristics: Increased transaction volume and complexity Growing need for financial visibility and forecasting Starting to formalize accounting practices, budgeting, and cash flow management Potential shift from cash accounting (..)

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Tech Startup Accounting Insights From A Y Combinator Company

inDinero Tax Tips

The key is the difference between cash and accrual accounting. Youre already familiar with cash accounting; its how people manage household budgets, where transactions count when money physically changes hands. Accrual accounting is a bit trickier. Accrual accounting is better suited for tech startups.

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Small Business Tax Deductions 101: What You Can (and Can’t) Write Off

inDinero Accounting

We’ll paint a financial portrait of your business that valuably informs your decision-making and protects you in the event of an IRS audit. An indinero accounting and tax services professional can advise on the correct strategic decision for your business. Indinero’s virtual bookkeeping service simplifies record keeping.

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Common Accounting Mistakes: Government Edition - Issue #7 Accounting for Fixed Price vs Cost Contracts

SMBAccountant

Whether the SBIR/STTR that’s being worked is a grant through the National Science Foundation (NSF) or a federal contract, there is an oversight agency, such as the Defense Contract Audit Agency (DCAA) for Department of Defense (DOD) contracts, that will review the adequacy of a contractor’s accounting system prior to a phase II award.

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Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?

SMBAccountant

If the information entered into QuickBooks doesn’t accurately provide all the data needed to determine the timing, the accrual reports will not be accurate. Additionally, accrual accounting often requires manual journal entries to properly account for depreciation, payroll and vacation accrual, prepaid expenses, and several others.