Thought Leadership from the Leaders in Virtual Accounting and Bookkeeping Services

AccountingDepartment.com Co-Founder Dennis Najjar to Chair Stevie Award Committee

Posted by Andrea Boccard on Wed, May 27, 02015

Today we are excited to announce that co-founder Dennis Najjar will chair the final judging committee for the Company / Organization Awards in the 13th Annual American Business Awards (Stevie Awards). Together with many of our industry colleagues and clients, we will spend time over the next two weeks reviewing all the finalists across many categories to decide the Gold, Silver and Bronze winners for this year's awards.

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Tags: small business, stevie awards

3 Ways Choosing the Most Experienced Professional Service Provider Beats Out the Lowest Price

Posted by Bill Gerber on Tue, May 26, 02015

Your business budget is stretched in every possible direction. Your IT staff is demanding new servers, your human resources department doesn't have a single working printer, and your assistant's phone is on the fritz. With so much on your financial plate, it's tempting to choose the lowest price professional service provider, but you may end up paying more in the long run if you take this route. Here are 3 reasons you should always choose the more experienced service provider, even if you think it's going to strain your budget.
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Tags: bookkeeping services, accounting services

Expense Reporting and Management – How Can Automation Prove Beneficial?

Posted by Kris Merritt on Tue, May 19, 02015

Spreadsheets are versatile enough to manage almost all types of information, but they may not scale up when processing large volumes of complex data, which can prove to be quite a challenge to your bookkeeper. Manually processing travel and entertainment (T&E) expenses can be both effort- and time-intensive, not to mention the possibilities of typographical errors, delays in processing and clearing claims and, mostly importantly, the need for employees to preserve and present paper receipts. This is especially difficult when a firm relies on remote accounting services or bookkeeping services to connect all the dots.

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Tags: automated processes, expense tracking, accounting processes, expense management

When an Internal Audit Can Set Your Mind at Ease

Posted by Dennis Najjar on Fri, May 15, 02015

Many companies make internal auditing a regular part of doing business. Some maintain a full-time internal auditing department to keep up with increased accounting service reporting requirements. It's important for any business to consider conducting regular internal audits, especially in the following situations:

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Tags: accounting strategies, internal audit, accounting analysis

How Accurate is Your P&L? Financial Knowledge Every CEO Needs To Manage Their Accounting

Posted by Andrea Boccard on Tue, May 12, 02015

AccountingDepartment.com co-founder Dennis Najjar will be delivering our first "Fridays with Vistage" webinar, discussing the parts of the balance sheet that CEOs need to understand and ask questions about to ensure their accounting staff is on track and delivering efficiently. Of course, in a perfect world financial statements would all be produced flawlessly--but our experience says it is commonly not the case that the balance sheet and P&L are accurate. Therefore, in an effort to bridge the common problems CEOs and business owners face, we're promising the following three takeaways from Friday's webinar (and you are welcome to join us for free!):

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Tags: accounting services, vistage, webinars

Vistage Guest Post: 3 Questions CEOs Must Ask About Their Financial Reports

Posted by Andrea Boccard on Mon, May 11, 02015

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Tags: financial management, vistage, financial statements

Getting Your New Business on Track

Posted by Dennis Najjar on Mon, Apr 27, 02015

Launching a new business takes hard work and perseverance, but with the proper guidance, a solid accounting system keeps your staff from running around the balance sheet. Ownership of multiple businesses can overwhelm a CEO with forms and regulations, so it’s important to consult with an outsourced accounting and bookkeeping service to ensure accounting tasks are on track with your new business startup.

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Tags: outsourced accounting services, startups, expense tracking

Budgeting Tips Utilizing KPIs

Posted by Dennis Najjar on Thu, Apr 23, 02015

A corporate CEO can invest hundreds of hours into tweaking the yearly budget, but the vicissitudes of business can make that budget obsolete in a matter of months. While budgeting can be an important exercise to factor in planned purchases, new hires, and replacing outdated technology, one can only do so much as far as predicting future expenditures. Budgets can change faster than they can be planned for, but are still a necessary process for business management. A budget is required to reach financial objectives for the present, rather than months down the line, and is still an accurate gauge of the funds required to tackle a task in project management. If you can coordinate your budget objectives with measurable KPI activities, business managers can be in better control of their budget plans. Outsourced accounting and bookkeeping services can provide guidance on the best software for KPI management.

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Tags: outsourced accounting services, accounting metrics

The Step-By-Step Process Required to Choose Accounting Services

Posted by Bill Gerber on Mon, Apr 20, 02015

When a CEO decides the current accounting processes are ineffective or broken, resulting chaos can abound, leaving the company coping with a loss of productivity and profitability (then again, they probably were already). Choosing new accounting services should be implemented through a step-by-step plan in order to ease the frustration and trauma of changing gears and decrease any resulting financial losses or potential hiccups in transfer. While there’s no set path that works for every firm requiring a new accounting solution, everyone involved in the company’s accounting, needs to be focused on finding a new accounting services provider who can offer an effective and profitable partnership. Especially if you are transitioning from an internal team to online accounting services, pay careful attention to every detail to ensure a smooth hand-off.

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Tags: small business bookkeeping, accounting services, online accounting services

10 Basic Accounting Terms Defined

Posted by Kris Merritt on Fri, Apr 17, 02015

While not everyone has the opportunity to study accounting, a CEO needs to possess knowledge of all aspects of a successfully-run business, even when a company is hiring outsourced bookkeeping. Here are ten accounting term definitions to get you started to effectively communicate with your online accounting services provider.

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Tags: small business tips, accounting services, online accounting services

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