Running a business can be tricky and stressful. A business manager focuses on meeting sales targets and keeping costs as low as possible to ensure that the business remains profitable. Many feel it is almost impossible to keep track of the money in the company. But, adequate financial controls are vital to ensure business profitability, and profitability is essential to ensuring the sustainability of the business. Whatever the size of the company and its turnover, no business can afford to lose track of its money. So, what are the best practices for accounting control they

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Payroll processing is one of the most critical aspects of the global accounting and business fields. It's also something that has to be done tediously every week and with accuracy as your employee's lives depend on it.   The main purpose of payroll processing is to fairly and accurately compensate all employees for their work. There are various ways to accurately and routinely process monthly payrolls; however, which procedure would be best for your business? To ensure accuracy and reliability during monthly payrolls, you should track deadlines, create written policies, maintain records, enhance time and

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Does your business require the financial expertise of a CFO but cannot afford to appoint one full-time? You may have the vision to grow your business or restructure. This is where a Fractional CFO would help. Fractional CFOs are experienced CFOs who offer their services part-time or on contract to companies that need it. But what should they do to add value to your business? There are five services that a Fractional CFO should provide to your business to add value. These five services include strategic financial planning, budgeting and forecasting, obtaining funding, optimizing business

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I can't tell you how many hours I've spent with an accountant at year end looking at the records and thinking "damn, how did I get into this mess".  The reality is that while operating a growing business and dealing with the headaches of such (like your 3 employees that decided they needed a day off in the middle of the week), sorting out transactions is just a low priority.  BUT as it did, in my case, it all catches up to you in the end!  Paying a CPA hourly to sit with you and

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Being a project manager can be very stressful. You must ensure that the project is completed without unnecessary delays, which could be stressful enough. However, sticking to the budget adds to the project manager's worries. So project managers often want to know what the project accounting best practices are to help them stay on budget. There are several best practices in project accounting, but implementing just five of them would help your project stay on budget. These include budgeting, using a Project Accountant and Project Accounting software,  identifying critical areas to focus on, and regular reviews

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