Category Archives: Bookkeeping

Cash-Basis vs Accrual-Basis Accounting: Whats the Difference? Whats Best?

Cash basis method is more immediate in recognizing revenue and expenses, while the accrual basis method of accounting focuses on anticipated revenue and expenses. Cash basis lets businesses record income and expenses only when cash is actually received or paid. Accrual accounting involves tracking income and expenses as they are incurred (when an invoice is […]

Best CPA Tax Preparers Near Me November 2023: Find Nearby CPA Tax Preparers Reviews

If you have a pretty simple tax return, you may not need anything more than a free filing service. Paid packages from tax providers can be a less expensive way for people with more complicated tax situations to get their taxes done rather than seeing an in-person professional. •   CPAs can provide a lot […]

Art of Accounting: Problems with accounts receivable besides collecting them

Together with expanding roles, new expectations from stakeholders, and evolving regulatory requirements, these demands can place unsustainable strain on finance and accounting functions. F&A teams have embraced their expanding roles, but unprecedented demand for their time coupled with traditional manual processes make it difficult for F&A to execute effectively. Global brands and the fastest growing […]

What is the three-way match?

Accountants need to contact the purchasing department if they have purchased the items. They are not going to process payment for the items that have not been purchased. Moreover, accountants have to contact the warehouse if they have received the goods. A supercharged 3 way matching AP workflow ensures timely vendor payments. Vendors value early […]

Sustainability Free Full-Text A Study on the Transformation of Accounting Based on New Technologies: Evidence from Korea

Often, investors will require tech companies to become GAAP compliant after a certain point, typically a Series A. An effective approach to accounting for tech companies takes a slightly different approach to that used by a more traditional business. In his year of owning Twitter, Mr. Musk has overhauled the company and the social media […]