Employee Fraud. It does not depend on the size, type, location or industry of the organization, as every organization is prone to this problem. We would like to believe that our employees are honest and trustworthy but still there are many reasons and ways in which your employees may become the part of fraud. A […]
Most communities have at least one bookkeeper who serves the local businesses. They make occasional visits to each client to update the books, prepare payroll, pay bills, and take care of whatever other tasks they’re expected to handle. If you own a business or are preparing to open one, you might think the community bookkeeper […]
The Balance Sheet is the core financial statement of any business. It’s a “snapshot” in time of your company’s health; it provides information at a specific date such as December 31, 2015. However, the Balance Sheet does not state how you used your company’s assets or how the business arrived at its current position. Instead, additional financial statements use the information on […]
Introduction In today’s changing environment, a medical practice’s ability to ensure that revenue is maximized, and financial ‘leakage’ is minimized, is crucial to its economic success. Maximizing revenue includes ensuring the appropriate level of payments against claims for every patient serviced. Minimizing financial leakage is best achieved by implementing sufficient financial controls and oversight to […]
When most people think about bookkeeping and accounting, they would be hard-pressed to describe the differences between each process. In this article, the functional differences between accounting and bookkeeping are explained, as well as the differences between the roles of bookkeepers and accountants. While bookkeeping and accounting share common goals, they each make up a different stage […]
Accounting outsourcing will help you in managing the accounting of your firm. Why does one need to outsource accounting? Read the article to find out. Accounting outsourcing means to hire a firm or services for your business accounting rather than hiring full-time employees for that. Outsourcing some accounting portion of business is now a tradition […]
Bookkeeping is a critical and challenging task. To save time and money, you can hire a bookkeeping firm, and they will handle all the bookkeeping tasks for you. Bookkeeping is assumed to be a burdensome task for small business owners. They get nervous by the bookkeeping and also second-guess the knowledge and skills in fear […]
Hiring the right bookkeeper is not an easy task. Here is a guide to help you in hiring the right bookkeeper. Bookkeeper plays an important role the business. It keeps the record of your day to day transactions that include sales, salary, and expenses. Being a businessman, it is not always possible to have a […]
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