In Pursuit of Profit
Read our expert article below or sign up to get articles sent to your inbox.
So, in that regard, there is not one single best software out there that every small business should use. However, there likely is the best bookkeeping/accounting software for you to use.
To determine which software is going to be the best fit, let’s take a look at some of today’s most widely used accounting platforms. What would happen to your business if your accountant unexpectedly quit or was hit by the proverbial bus? How easily can someone else step in to keep the books in order?
I didn’t completely embarrass myself among the fresh-faced CPAs just out of college representing their public firm teams. However, I definitely regretted my decision to play after a bad midcourt collision left me looking at a wrist that was definitely not in the right position. After a long ER visit and eventual surgery to add some new hardware, the recovery process began.
I still do some part-time accounting consulting work for small businesses and being able to type is a key part of getting the job done. Having a wrist that wasn’t working, along with the pain involved, really cut into my ability to be productive. Some of the work I was doing couldn’t easily be handed off, so I had to do my best to continue getting work done despite my limitations.
12/12/2022 Controller or CFO – Which Do You Need?At this stage, companies are feeling the limitations of their existing accounting personnel and are evaluating what their next move should be to keep the company moving forward. But knowing whether to hire a Controller or a CFO is a big decision, because, contrary to popular opinion, the roles are distinctly different.
As Kevin Briscoe, the CEO of CFO Selections, explains in nonprofit leadership podcast, “A Controller is ‘walls-in and rear-facing’ and a CFO is ‘walls-out and forward-facing’.” He goes on to explain that a controller analyzes what the company has done already while a CFO evaluates where the company is going next.
For companies lagging behind, the financial cost of taking an extra 20 days to close their books can be steep, and for companies performing on par with the industry, the financial benefit of reducing their work by 10 days can be a huge advantage.
But are you really prepared for the time you are able to hire a top performer on your accounting team?
Are you thinking hiring that great performer will take care of all your issues? I want to share some thoughts, so you realize that hiring a star does not really solve the issues you have. My goal in sharing this insight is to help you prepare yourself and the company before you hire the great addition to your accounting team so that you can make the most of this kind of hire.
Find out what you need to know about how Washington compensation laws are changing next year:
11/18/2022 How to Fix Payroll Problems
The considerable time required to fix payroll mistakes is a significant penalty for any company to pay when an error occurs. Then, when you figure in the added cost of reduced employee satisfaction, which in turn can lead to turnover or hamper future hiring efforts, the cost of experiencing payroll problems becomes even steeper.
11/11/2022 What is a Good Cash Conversion Cycle?
So, what is a good cash conversion cycle?
|
SUBSCRIBE:DOWNLOAD:DOWNLOAD:Categories:
All
Archives:
July 2024
|
Services |
Company |
|
1/3/2023