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Thought Leadership from the Leaders in Virtual Accounting and Bookkeeping Services
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25, January
2018

Outsourcing Accounting for Improved Accountability

Cash flow has a major impact on sustainability. Take a look at what happened in the early 2000s with the dot-coms, and again in the late-'00s and this current decade. Businesses with few liquid assets were unable to jump the hurdle of a contracting market. What happened to the dot-coms also hit the financial sector, and neither was prepared. Given the importance of cash flow, it makes sense to take an active role in managing assets and record-keeping. In-house management opens the door to a number of security issues, while separating areas of responsibility improves accountability at every level.

The Nuts and Bolts of Accountability

Some of the most basic strategies for improving accountability start by ensuring that the department taking in cash is not the department recording the transactions and reconciling the accounts. For example, if human resources handles payroll, they should not be tracking hours. If they have both jobs, they can issue checks for unworked hours. Over time, even small additions can add up to a considerable loss. When the same department is also responsible performing audits, there is no real accountability.

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23, January
2018

Are You Guilty of the Top 5 Accounting Mistakes Entrepreneurs Make?

Most entrepreneurs have no problem coming up with big ideas for how to start a new business. Despite this creative.

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18, January
2018

Is It Time to Accept Cryptocurrency?

Cryptocurrency has been a hot-button issue for the past year with major advances being made to blockchain technology.

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15, January
2018

How Long Should You Keep Business Records?

Many businesses aren't sure how long records must be saved in the paperless era. Record-keeping is a boring, but.

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11, January
2018

How To Afford The CFO Your Company Needs NOW

The thought of needing to hire a CFO (chief financial officer) may have never crossed your mind as a small.

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9, January
2018

Is Your Family Business Ready for Tax Season?

Owning a small business is the dream for many Americans. When it comes to tax time, the nuances can cause somewhat.

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5, January
2018

Cover Your Bases: Cybersecurity for the Government Contractor

Cybersecurity guidance and requirements for government contractors continue to evolve and will have a big impact on.

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