How To Choose The Best Accounting Software For Your Small Business...

Sep 25, 2014 by

When it comes to tax time, it is wise to have all your financial details managed neatly in accounting software — gone are the days of shoeboxes stuffed with receipts! With many taxation services charging by the hour, it is a good idea to do as much as you can to lessen the amount of time your tax agent will spend on your tax affairs. There are a wide range of accounting software programs which can help make managing your small business finances a breeze. Consider the needs of your business to find the right software for your business. Cloud Accounting Programs Many accounting software programs now feature accounting in the cloud, meaning you don’t have to install software on your computer and your files are accessible online from anywhere — home, the office...

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How to Know You’ve Found a Good Accountant...

Sep 24, 2014 by

For business owners, accountants are a necessity, and the amount of different options available means you often find yourself settling on the first one you find. But how do you know that your accountant is doing the right thing by you? Are they treating you and your business right? Or is it time to find another accountant? Timeliness Timing is everything, and your accountant should show they have the proper respect for it. When you come to them with a question or concern, it’s reasonable to expect that your query won’t be answered right away; however, if they haven’t called back within 24 hours, you can be sure there’s a problem. Every business has tax obligation deadlines to reach, and it’s important that your accountant acts urgently in meeting them, so that you don’t...

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The Benefits of Hiring a Forensic Accountant to Cross Check Your Financial Records...

Sep 19, 2014 by

Forensic accounting refers to the use of auditing, accounting and investigative approaches to analyze the financial operations of an enterprise. The output from forensic accounting process is usually utilised in legal proceedings, policy making, decision analysis and further investigative processes. The procedures used in forensic accounting involve intensive analysis of accounting data and information so as to establish whether operational methods are being adhered to. This article discusses the benefits that a business can derive from forensic accounting. Enhances Policy Formulation The operations of a company are based on the existing policy framework. During forensic accounting, the elements of the framework, such as reporting structures, document handling, data management and conformity of financial records with the International Accounting Standards, are analyzed. Based on the outcome of these analyses, the business can then put in...

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Options For Financing Your Equipment Purchases...

Sep 16, 2014 by

There are several ways through which you can meet the financial obligations that come with the use of heavy duty equipment. Each of the financing options has its unique characteristic that make it different from other options. Consequently, each option is designed to suit particular situations better than the others. Here is a look at three equipment financing options that you need to know about before you call in your equipment finance broker. Leasing Leasing is one of the easiest ways through which you can acquire equipment as well as other chattels that you may need for your business.   With a lease agreement, the finance company leases back equipment to you for a pre-agreed duration of time.  Leasing is done after the finance company has purchased and therefore owns the equipment in question....

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Tips For Switching To A Work-From-Home Career...

Sep 11, 2014 by

Before switching from your day job to a work-from-home career, you must choose proper strategies to proceed. You are now in charge of running every aspect of the company, and must be sure that you take care of your accounting and other matters. If you want to get your company off of the ground and running properly, follow some of these tips.  Secure A Health Insurance Plan If you had a health care plan through your previous employer, you will need to look into a plan with a new healthcare provider that can account for you. You can do so either on the private market or under a plan that can offer you medical care, dental care or prescription coverage. This is crucially important for you as an independent contractor, because you will need to...

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The Draining Effect Of A Poorly Designed Accounting System On Your Business...

Sep 11, 2014 by

Functionality is an important factor to consider when determining which accounting software to use for your small business. Simply put, the more an accounting system can do, the more the accounting tasks that can be automated. However, having a small business accounting software that can handle payroll processing, tax calculations, cash flow projections and all the accounting tasks involved in the procurement process is good, but it is never enough. Great accounting software must not only have great functionality features, but must also have a great design. If not, the software will do your business more harm than good. Here is why. Prolonged learning curves will cost you more The design of accounting systems usually affects how fast one can learn to use them. A poorly designed system will take you longer to learn....

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