Hiring an in-house bookkeeper means you have a dedicated expert in your office, available when you need them. Whether your bookkeeper fills a full- or part-time position, just having an expert on hand can do wonders for your finances. Your business can run more smoothly when you review your income statement, balance sheet, and cash flow statement with a bookkeeper. The firm’s back-office operation, Novalaw, received a private equity investment from a portfolio company of Alpine Investors. With recent upheaval and interest from private equity funds and segments of the AmLaw 200, the virtual law firm world might be poised…

Zoho Books also offers a free plan for businesses with under $50,000 in annual revenue. We selected Zoho Books as the best accounting software for people with microbusinesses. In those cases, the software may be too complicated, unnecessarily powerful and overly expensive. Virtual corporate cards can be used by individuals for both one-time and recurring purchases, while physical cards can be used for in-person purchases. In addition, they will set up channels for approving new purchases, monitor budgets, and alert users of any threats or regulations violations. In terms of integrations, you can integrate QuickBooks Online with other Intuit applications,…

When designing a file-sharing workflow, it’s important to remember that clients are on the go and teams are working more remotely. Simply put, the workflow and processes have to make it easier for you to focus on the customer and for your client to have as much of a seamless experience as possible. These may include improving your new product development, client onboarding, payroll, tax planning, or sales. Documents are then filed in a digital version of the dusty file room. Though the process kills fewer trees, it is still highly reliant on manual actions to move the project along,…

But if your business needs additional, full-scale accounting support, there’s a good chance that outsourcing will provide impressive results, cost savings, and security. Small businesses often outsource some or all of their accounting function to gain access to expertise at a fractional cost. Equally, focus on finding an outsourced CFO that has significant experience navigating the challenges that are currently top of mind for your business. If your main financial goal is to sell your company, make sure you hire an outsourced CFO that has previously advised on a number of successful transactions. Working with an outsourced CFO offers business…

If short-term cash flows are a concern, a short payback period may be more attractive than a longer-term investment that has a higher NPV. Unlike other methods of capital budgeting, the payback period ignores the time value of money (TVM). This is the idea that money is worth more today than the same amount in the future because of the earning potential of the present money. Other metrics, such as the internal rate of return (IRR), profitability index (PI), net present value (NPV), and effective annual annuity (EAA) can also be used to quantify the profitability of a given project.…

Unfortunately, there have been reported issues with lag, and the software being slow at times, but this shouldn’t affect it too much. Jonas Enterprise is an option for any large businesses that have expanded or are looking to expand. Then to help your decision, we’ll go into further detail in our buying guide so you can consider the best options for your business. The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) updated reporting standards for revenue recognition from contracts with customers in 2014. This standard is known as Accounting Standards Codification Topic 606 (ASC 606), or…