Thought Leadership from the Leaders in Virtual Accounting and Bookkeeping Services

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 While budgeting can be an important exercise to factor in planned purchases, new hires, and replacing outdated technology, one can only do so much as far as predicting future expenditures.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

Start Preparing For 2015 Taxes Now!

Posted by Dennis Najjar on Wed, Apr 15, 02015

Today our first guest blog post for Vistage members went live. As a National Sponsor for Vistage executive summits across the country, we are particularly excited about being able to help educate CEOs, business owners and executives alike on all the ways they can improve their financial management and tax day preparedness.

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Tags: tax rules, financial management, vistage

Tracking Employee Time – Why and How?

Posted by Bill Gerber on Mon, Apr 13, 02015

Tracking employee time is not always synonymous with micromanagement or distrust, although making employees accountable for the time spent on task usually makes a difference, especially in businesses where services are largely matter of time spent delivering. What, then, are some of the reasons employers should consider tracking employee time on task?

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Tags: time tracking, automated processes

How To Lock Your Books In 3 Steps with Controller Services

Posted by Kris Merritt on Thu, Apr 09, 02015

“Locking the books” is a term that’s used to describe one of the most critical controls that’s put in place when using online accounting services. A high end, comprehensive service will typically offer features that go far beyond simple daily accounting and can include the additional benefits afforded by dedicated controller services.

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Tags: controller services, automated processes, online accounting services

How to Troubleshoot Your Profit Margins

Posted by Kris Merritt on Mon, Apr 06, 02015

When a company’s profit margins aren’t at expected levels, a variety of factors can be at play. Profit margins are generally a measure of business efficiency, and if the numbers fall short of projections, the solution will generally involve reducing costs, increasing sales or both. Businesses must also assess why profit margins are below expectations so that they can make focused and effective corrections.

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Tags: profit margins, revenue forecasting, online accounting services, cash flow management

Announcing Bookkeeper in a Box!

Posted by Bill Gerber on Wed, Apr 01, 02015

Today we unveiled the result of a year long project to better address client needs--our Bookkeeper in a Box 2.0! Exclusively for AccountingDepartment.com clients, the following announcement ushered in our new wave of virtual personnel to our clients today. Interested? You're welcome to "build your own bookkeeper" in beta via the link below but BiaBs are currently only available to our clients.

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Tags: virtual bookkeeping, virtual bookkeeper

How Long Should You Keep Business Records?

Posted by Dennis Najjar on Mon, Mar 30, 02015

Many businesses aren't sure how long records must be saved in the paperless era. Record-keeping is a boring, but important, business activity, and if you make the wrong choices, you risk litigation, succession planning problems and the wrath of the tax man. Understanding how long should you keep business records will help you avoid these problems.

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Tags: IRS, accounting regulations, financial management

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