Corporate governance and compliance can get confusing quite fast. Often, the tasks that are the most critical might often be overlooked. One such task is BOI reporting, which stands for Beneficial Ownership Information reporting. This refers to the details that companies must report regarding the individuals who ultimately own or control the organization. This blog…
Taking care of your books is an integral part of an Amazon seller’s business. Often, it is one of the only things Amazon sellers can adjust to reach their growth objectives. Without maintaining accuracy in financial records, making the right decisions for your business is quite impossible. This guide discusses Amazon seller accounting tips to…
Starting your own business can often feel like an adventure. Setting up an LLC is akin to setting sail and taking the first step outside your comfort zone. In the beginning, you’d definitely enjoy that wind sweeping through your hair. But it won’t be long before the currents get strong, and it becomes hard to…
Tracking your company’s operating cycle throughout the year is often the best way to gauge how your business is performing and whether it is headed towards growth. It can also shed some light on whether your business is efficient and if yes then by what margin. Thus, the operating cycle formula can be useful. However,…
No other profession in the world requires the level of accuracy often expected from an accountant. Yet there are times when transactions can’t be fully revealed or classified immediately. This is where a suspense account comes in to avoid major issues relating to accuracy. However, recording suspense account entries is not the final step. It…
The IRS expects to receive tens of millions of returns filed by taxpayers in 2024, at the last minute. Yes, most tax filers wait till the last minute to file their taxes, so if you are feeling particularly guilty for putting off your taxes, you’re not alone! However, filing taxes at the last minute, applying…
Do I need a CFO? What does a CFO do? Should I hire a CFO? Questions like these are common among startup owners and entrepreneurs who know how to start a business but don’t know how to make it a success. The majority believe the best way forward is DIY – Do It Yourself. In…
We already detailed in a previous blog here, what NetSuite is all about. In short, it is a cloud-based suite of management tools that, on a single platform, caters to several business management functions and operations, all on the cloud. This means that as long as you’re connected to the internet, you can plan the…
Managing your business finances involves various aspects. You must handle bill payments, clear debts, and ensure timely employee payment. There are instances where you may need to write or receive a check for transactions. However, dealing with physical checks poses a challenge – keeping track of their whereabouts. They can easily be misplaced or accidentally…
Net working capital is like a financial health checkup for a company. It tells us if a business has enough money to handle its daily expenses and to invest in its future. This number can reveal how smart a company is with its money for growth. In this blog, we will dive into net working…
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