Accounting

Some firms operate based on liabilities; two industries where liability is common practice are subscription-based businesses and online services. Examples of deferred revenue include rent payments you receive in advance, prepayment an organization may receive for newspaper subscriptions, prepaid insurance, or annual prepayment that a software-as-a-service (SaaS) company receives to enable a client to use […]

Business strategy forms the bedrock of any successful enterprise, outlining the path a company will take to achieve its objectives. In developing a comprehensive and effective strategy, many different aspects of a business come into play. Among these, the role of accounting is pivotal yet often overlooked. Accounting can provide invaluable insights that guide in […]

As a shipping company owner, freight accounting helps you keep track of the costs of sending goods from one place to another. You can sometimes send a product from a warehouse where it’s made to the company’s warehouse that sells the product. You can also send the product from a manufacturing company to a store […]

Virtual accounting services have been in high demand, especially after the COVID-19 pandemic disrupted business operations. In conventional accounting, you employ an internal accountant and provide them with a workspace. In addition to a salary, you have to cater for additional costs like health insurance.  As the advantages appear to outweigh the expenses, many businesses […]

As a small business owner, there is no doubt you are very mindful of the money being spent. Small businesses don’t always have a lot of excess cash flow, and expenses need to make sense for the company. Trying to save the company money could be one of the reasons why you’ve been doing your […]

Outsourcing Your Businesses Bookkeeping I think we can all agree that accurate accounting is a vital ingredient in a company’s success. The daily requirement of recording this information is often a low priority for those involved in running a business. Bookkeeping is a skill that many entrepreneurs do not have or realize they need until […]