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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.

4, January
2018

Controller Checklist for Small Businesses

As the owner of a small business, you've probably been getting by with piece-parting your financial and accounting.

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2, October
2017

Employee Attendance Tracking and Payroll: What Every Business Owner Needs to Know

 

It's difficult to keep track of employees and their time spent on the job, more so if your operations span the.

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5, September
2017

Are You Ready For Outsourced Controller Services?

There comes a time in the growth of every successful business where the owner or CEO starts to feel that their basic.

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11, August
2017

6 Ways to Measure Cash Flow: Which is Best for Your Business

Jack Welch, former chairman and CEO of General Electric once said, "Number one: cash is king." You could say this is.

24, May
2017

How AccountingDepartment.com Hires For Bookkeeping Services

To date in 2015, AccountingDepartment.com received 2,238 applications for its bookkeeping, accounting manager and.

22, May
2017

Depreciation: What Method to Choose and is None an Option?

Depreciation is one of the hardest accounting practices to get right, but avoiding calculating depreciation could.

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10 Signs Your Business Is Ready For Outsourced Accounting Services

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