Small Business Accounting Software: A Skagit County Owner’s Guide

SkagitCountyTaxServices

For as long as trade has existed, so has accounting. And it wasn’t THAT long ago that electronic spreadsheets were considered “a big advancement” in accounting technology. Businesses put away those old ledger books and took to smudge-free financial data entry.

The Essential Small Business Accounting Services’ Guide to QuickBooks

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KPMG To Shutter UK Small Business Accounting Unit

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Corporate accounting and auditing firm KPMG is shuttering its small business services unit, reports in The Business Desk said Thursday (Feb. According to the publication, KPMG’s Small Business Accounting (SBA) service, which launched in 2014, will be closed in the U.K. In a statement, a KPMG spokesperson confirmed that the company is “proposing to withdraw the provision of our Small Business Accounting (SBA) service in the U.K.,

Small Business Accounting Software FreshBooks Rolls Out In UK

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With a continuation of its global expansion, small business accounting software maker FreshBooks has rolled out in the United Kingdom. The firm is also rolling out a new set of functions geared toward Biritsh business needs, Accounting Today reported.

Become a Member of PASBA to Enjoy These Benefits

PASBA

Are you a public accountant, certified public accountant, or enrolled agent who would like to earn more business, learn new skills, and connect with fellow accounting professionals? If so, we invite you to learn more about the many benefits of joining the Professional Accounting Small Business Administration (PASBA). At PASBA, it’s our goal to transform the way our members think about their role as an accountant.

Small Business Tax Deductions for 2021

xendoo

Tax season feels particularly overwhelming for small business owners. In this blog post, we will share popular small business tax deductions that you may be able to claim for the 2021 tax year! Business Travel Expenses . Business Use of Your Car.

Insights from the AICPA Engage 2021 Conference

AccountingDepartment

Small Business Advice and Tips accounting strategies small business bookkeeping accounting software small business tips accounting small business accounting tips accounting trends budget dashboard budgeting reports budgeting aicpa jirav engage 2021 forecasting

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Surviving a Cash Flow Shortage

AccountingDepartment

If you have a cash shortage with your business, it is important to have a strategic plan to survive and reverse the shortage. Keep in mind that over 80% of businesses fail due to a cash flow shortage crisis, so putting some of these tips in action may protect you in the long run!

5 Financial Metrics and KPIs to Help Your Business Grow

AccountingDepartment

As a business owner, there are many different metrics and KPIs out there for you to follow that can give you insight into your company's current standings, along with assistance when it comes to future planning and goal setting.

The Ultimate Guide to Finding the Perfect Outsourced Accounting and Bookkeeping Service

AccountingDepartment

Continue reading for help with this ultimate guide for finding the perfect outsourced accounting and bookkeeping services provider.

Everything you need to know about Account Reconciliation

AccountingDepartment

Entrepreneurs, small business owners, and CEOs of large corporations are all responsible for monitoring an organization's financial health. And, at the end of the day, it's a business leader's responsibility to ensure all accounts are balanced and accurate.

How to Help Your Clients Gain Control of Their Cash Flow

PASBA

According to a recent study by US Bank, poor cash flow management is the reason for business failure more than 80 percent of the time, and it’s especially common with small businesses. That means there’s a good chance your clients may feel desperate for help when they visit your accounting practice. Some small business owners have no idea how much money leaves their company.

Basic Financial Statements That Anyone Should Know

AccountingDepartment

Although individual financial statements each provide different snapshots of financial health, all financial reports reflect business activities that produce a company's profit or loss.

Demand is Increasing for Accountants to Help with Human Resources Issues

PASBA

Today’s small business owner faces a significantly greater challenge in managing human resources regulations at the federal and state levels along with increased regulation in all aspects of their business. Accounting firms that can assist their clients with managing human capital and financial concerns at the same time can truly stand out from the competition. Clients Already Trust Their Accountants.

How to Stay Profitable With an All-Remote Team

PASBA

Onboarding is a crucial part of our business. Spend as much time vetting new hires as you do searching for new business. These great resources are provided by our partners at Jetpack Workflow, the leading workflow software provider for accountants and bookkeepers. With so many people working from home right now, here are some valuable tips for making the most of this situation for your firm and your clients. Customer experience is everything.

The Four Most Important Financial Statements for Your Business

AccountingDepartment

As a business owner or manager, you likely spend some time generating and analyzing financial statements. Some financial statements are essential to understanding the financial health of a business while others are less significant.

How to Set Up Accounting for a New Business: A Full Guide

xendoo

If you are reading this, then it probably means you’ve just launched or intend to start a new business in the near future. As you try to figure out which need to prioritize in your new venture, it is crucial that you first learn how to set up accounting for a new business.

What are Days Sales Outstanding and How Can You Reduce Them?

AccountingDepartment

Day sales outstanding (DSO) is the term used to measure how much time it takes for a business to get paid for a product or service. The goal of a business is to keep the DSO as low as possible.

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Business Liabilities Explained

AccountingDepartment

Business liabilities are best defined as the financial obligations or responsibilities of a business. In short, liability is almost always necessary for a business to excel. So don’t misconstrue business liabilities with legal liabilities.

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Understanding Inventory Assets

AccountingDepartment

An inventory asset is a product that a business has to sell. And if a business is a manufacturer, all of the materials used to make that product are considered inventory. Inventory assets are found in the assets section of the business's balance sheets.

How Auto Collision Repair Shops Can Avoid A Cash Flow Wreck

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Cash flow management remains a major headache for small companies of all kinds, preventing many firms from making payroll, paying bills or even staying in business. Cash flow management continues to be a major pain point for small businesses of all kinds.

Large Corporates Find Value In Bank-FinTech Connectivity Too

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Small businesses are a growing target for bank-FinTech collaborations and data integration initiatives as financial service providers explore new use cases for open banking.

Bringing The eCommerce Business Model To SMB Accounting

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Two years ago, Singapore launched its SMEs Go Digital campaign, a government effort to enable small businesses to modernize and embrace the cloud that continues today. A New Model For Accounting.

What 2020 Has Taught Us About Business Resiliency

SingleTrackAccounting

For the majority of small businesses, this year has been a tough one. When we look back to February when all this began, business was popping like a bottle of champagne after an amazing powder day on the mountain. Was your business prepared?

Sage Updates Will Boost SMB Accounting Visibility

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Cloud business management firm Sage has announced new updates to its small business cloud accounting solution to help customers gain more insight into their accounting, payroll and HR data.

The Waterfall Effects Of Integrated SMB Accounting

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Automation in small business accounting can certainly be beneficial, but when a cloud-based accounting platform remains within the confines of its own interface, there can be unexpected friction that prevents business owners from gaining real-time financial insights.

Telleroo Integrates B2B Payments Function For SMB Accountants

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based FinTech specializing in facilitating payments for small business accountancy firms, is partnering with BIN (bank account identification number) sponsor Moorwand to further streamline the payments experience for accountants and bookkeepers. Telleroo , a U.K.-based

Avoid the Pitfalls of DIY Accounting

SingleTrackAccounting

You are running your business and doing a great job at staying on top of your bookkeeping, not to mention you are saving money by not hiring help. As a busy business owner, this is the last thing you want to be spending your precious time doing. Working on growing your business?

Accountants May Be Bucking The Innovation-Averse Trend

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The future of the corporate accountant is in flux. FinTechs are developing ways to automate accounting tasks, forcing human accountants to provide more strategic, value-added services. At the same time, an influx in the variety of financial management solutions for large and small businesses has some companies looking beyond the corporate accountant. That doesn’t mean corporate accountants are jumping ship, however.

Data Hurdles Keep Accountants From Elevating Their Role

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With more organizations embracing FinTech in the back office, businesses are increasingly aware of the importance of data integration between various portals. ” Supporting an Accounting Shift. ” Those are small data hiccups with the potential for damaging consequences.

VCs Back FinTechs That Help Other Firms Manage Money

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With more than $89 million raised, B2B FinTechs this week impressed venture capitalists (VCs) with a range of services, including small business accounting, financing, spend management and payroll. Small business accounting startup Xendoo announced a $3.5

Why and How to Transition from a Sole Proprietorship to a Corporation

Ronika Khanna CPA,CA

When starting your new business , it often makes sense to choose the simplest structure which is the sole proprietorship. Alternatively, a customer or client might only do business with a corporation. Planning to incorporate your business?

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PwC’s Xero Accounting Partnership Goes Global

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Corporate audit and accounting company PwC is expanding its existing collaboration with small business cloud accounting company Xero. Their expanded deal will focus on bridging small and medium-sized businesses (SMBs) in the U.S., Asia and Europe to Xero’s cloud accounting technologies. In a statement, Xero Chief Product Officer Anna Curzon pointed to the limited adoption of cloud adoption within the small business community.

H&R Block Acquires SMB Finance Platform Wave

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Consumer tax solutions provider H&R Block is ramping up its position in the small business financial services market with the takeover of Wave. In a deal announced Tuesday (June 11), H&R Block has acquired Wave Financial, a small business FinTech firm offering accounting, payroll, invoicing, payments and bookkeeping services. B2B Payments B2B H&R Block M&A News payroll small business accounting Wave Financial What's Hot In B2B

FinTech Targets The Cash Flow Needs Of CPAs

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The Certified Personal Accountant (CPA) today now has a plethora of FinTech solutions they can use to manage their clients’ money, with the number of digital tools — including cloud accounting portals, cash flow forecasting solutions and intelligent technologies like artificial intelligence (AI) — continuing to rise. These solutions create a disjointed, and sometimes ‘bloated’ experience for accounting professionals.”.

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How Data Empowers The New Face Of SMB Accounting

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Accountants and bookkeepers have a new reality with their small business clients: machines can do number-crunching and calculations, and these professionals are now forced to examine how to elevate their role with SMBs to continue to provide value. Today, evolving the job of a small business accountant means not being replaced by technology, but tactfully using it.

KPMG Debuts SMB Accounting, Tax Platform

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KPMG is taking further steps into the small business financial services world with a new tax and accounting solution for SMBs, the company announced Thursday (Dec. In preparation for tax season, KPMG is rolling out its KPMG Spark tool designed to automate and digitize small business tax services, including tax preparation and compliance, for businesses with annual revenues below $50 million.

Xero Integrates BP Fuel Card eInvoices

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Small business cloud accounting company Xero has announced BP as its latest – and largest – partner to join Xero Connect. Small businesses that use these fleet card solutions will see their monthly invoices sent from BP automatically integrated into their Xero accounting platform as a draft bill. Business owners can then review and approve that bill to pay the invoice.

 AppZen On The State Of Spend Auditing

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As AppZe n noted in a recent report titled “The State of AI in Business Spend,” companies that do not use AI audit only 10 percent of their spending. Moreover, in terms of the larger picture, more than 96 percent of enterprise spend beyond that of payroll is related to accounts payable; 3.7 Oversight becomes especially important as businesses are becoming ever more global in scope. B2B Payments AI AppZen Audit B2B expense reports fraud News small business accounting

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Reckon Shifts Strategy In MYOB, Xero Rivalry

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Australian small business accounting company Reckon is shifting its competitive strategy against the industry’s top leaders, MYOB and Xero, reports in the Australian Financial Review said Tuesday (Feb. Reckon, which was recently the target of a failed takeover effort by MYOB, has reportedly decided to pull out of the market of accounting software marketed directly to small businesses.