A bookkeeping spreadsheet is more than a document with numbers; it is a magic mirror to see where the business stands, how far it has come, and where it ought to be. As you may have heard, you can’t judge a book by its cover, but you can certainly judge a business by its books….
For one reason or another, there is a chance you may get hit with an unexpected tax penalty. Taxpayers often get penalized for falling behind on their taxes and failing to file or pay returns on time. Regardless of the cause, these penalties worsen your tax burden, and you ultimately have to pay more than…
When a bookkeeper or accountant leaves, you must spring into action and find a replacement soon. When the CFO leaves, the task becomes 10X more urgent. More often than not, the urgency results in rash calls that derail the business from the winning track and stall progress. Be it a blue-chip business or an emerging…
In today’s business world, it isn’t enough to have a CFO who excels in reporting and brings you key financial insights and data on a platter; they must do more. A CFO must be like a strategic partner who helps you make and implement winning strategies that enable your business to scale exponentially and accelerate…
You can’t build an enduring business without the right talent. Recruiting top talent is pivotal to long-term business success. However, finding the perfect talent from a pool of mediocre ones is easier said than done. It is not like the odds are stacked against you, or you always have to settle for less than the…
Financial reports lie at the core of business plans and help business owners create growth strategies for the future. Typically, chief financial officers or CFOs make the all-important financial reports aptly called ‘CFO reports.’ CFO reporting helps business owners assess where their business stands, how far it has come, and where it needs to be….
A single thread that ties all business departments is accounting & finance. The finance department records and reports every business financial activity to executives and stakeholders, helping the decision-makers make timely and informed decisions, mitigate risks, and stay compliant. What is Financial Reporting? Financial reporting is an unavoidable chore every business must do to…
R&D activities frequently occur in small and medium businesses that use innovation to create space and impact in the industry. More than 30 million small businesses in the USA use innovation to boost efficiency and get the winning edge. However, the majority fails to capitalize on the startup R&D tax credit on offer by the…
Most businesses use the accrual-based accounting technique for its manifold benefits and industry-wide acceptance. All its perks aside, accrual accounting makes it a tad bit difficult to manage finances as it counts income as soon as the invoice comes and factors expenses once the bill is received days, months, and sometimes years before cash changes…
As the business expands, it gets tougher to manage day-to-day finances while ensuring forward motion. Without a cash management strategy, a startup heads into trouble sooner or later. With that, it’s time to explore ten things you must know about cash management strategies. 1. Don’t Let Late Payments Become A Habit Late payments are…
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