The pandemic changed everything about how businesses function. With companies going remote, multiple problems such as distributed teams, processes with little to no digital footprint, employees not equipped for remote work, and more began to crop up acting as financial and productivity deterrents. While the processes carry on, your Accounting and Finance teams still need […]
Accounting
5 Essential Factors When Starting Your Accounting Firm
Starting any small business is no easy task, and many do fail. However, if the work is done, starting an accounting firm can be a very lucrative move, very quickly. With the boom of ecommerce even further boosted by the “stay at home” nature of the COVID pandemic, online accounting firms are building business at […]
5 Small Business Solutions to Consider Right Now
Last year brought with it its fair share of challenges for small businesses. If you’re one of them, you’ve likely experienced some of these challenges, including economic turmoil, cyber attacks and disruption of supply chain. But there’s plenty you can do to ensure you’re in better shape this year. Keep reading to learn about a […]
4 Upcoming Trends in Forensic Accounting
With the COVID-19 pandemic showing no real signs of ceasing before the turn of the year, ecommerce is expected to remain a focal point of consumerism, especially as cases once again spike. With cybersales comes cybercrime, and forensic accounting jobs are expected to continue to be in high demand. Dr. Jennifer Stevens, an assistant professor […]
Helpful Tips for Any Small Business to Prepare for ASC 606
On December 15, 2018, all small businesses were instructed to implement Accounting Standard Codification to file their 2019 income taxes. This change requires some preparation because it completely revamps the current revenue reporting guidelines. The new standards are used for accounting revenue from customer contracts across all industries. However, it does not apply to financial […]
Important: IRS Finalizes Changes to Payroll Tax Return Form 941
On June 20, 2020, the IRS finalized tax Form 941, Employer’s Quarterly Federal Tax Return, to collect information about the new COVID-19 tax incentives, expanding the form from two to three pages, and adding 58 new data fields (previously 18 total lines). See Appendix I: Summary of COVID-19 Employer Tax Incentives for more information. While the […]
These Are the Accounting & Bookkeeping Facebook Groups You Should Know
You want to learn more about taking your practice online. You’re looking for tips on using cloud-based tools and decoding the ever-growing ecosystem of fintech applications. Or, maybe you just want to connect with your fellow humans — your accounting and bookkeeping peers. Even if you’re not a social butterfly or networking master, believe it […]
10 Simple Accounting Solutions for Small Businesses
Every small business needs to be on top of its numbers. By learning bookkeeping and accounting basics, you can ensure you have the necessary skills to handle your accounts. You can also make use of accounting software solutions to make your financial operations run much more smoothly. Another way of finding solutions to accounting issues […]
4 Accounting Tips for New Gig Economy Businesses
There are many terms for providing a service as a small business—gigs, contracting, freelancing, and the trade industry just to name a few. Many people just starting their businesses are enthusiastic to develop their product, but unaware of some simple accounting practices for small businesses. These tips can save both time and money when it comes […]
Becoming Your Own Boss: How to Start Your Own Accounting Firm
There are many ways to advance your career. You can work your way up the corporate ladder, or, you can decide to be your own boss. Have you ever thought about starting your own accounting firm? If so, then this is the article for you. Read on to look at what it takes to start […]
