READ Accounting Software ARTICLES

  • All
  • Whitepapers
  • Articles

Accounting Software Articles

The Pros and Cons of Implementing a New Accounting System in Q4

Accounting software solutions are rising in popularity for companies (of all types and sizes) who want the flexibility and mobility of a cloud-based system with all the features and functionality they need to make sure that business financials and tax details are being properly handled and tracked.

The features offered by accounting software providers are the tools that will help enhance your company’s processes. While your business needs, users, and budget will all work together to help you choose the best system for your business, there are a list of core features offered by most Accounting Software provi...

3 Ways to Maximize Deductions and Make Tax Season Less Stressful for Your SMB

Tax season is here, which can usher in a wave of stress for small business owners. Disorganization and unpreparedness are some of the key reasons that reasons that tax season becomes so stressful and chaotic for small companies. Much of this may not be intentional, but is more a result of the learning curve of running ...

Approximately 93% of small companies overpay their taxes, year after year.

Why Accounting Data is a Great Starting Point for Citizen Data Scientists

Citizen Data Scientists are free to explore any data pathway, as long as it leads to findings that are worthwhile. However, why is it advantageous to begin with Accounting data? Here are 3 reasons why.

De-Skilling In The Accounting Industry: How To Cope?

Ever since the advent of a new form of technology, overheads have been replaced with sophisticated gadgets to reduce costs and time. With every business today relying on some form of automation or digitization, it’s only normal to presume that professionals are tech-savvy, at least to a basic level.

However, the Accounting industry at large is still susceptible to under-skilled workers, or companies that haven’t embraced the maximum potential that the latest Accounting technology can offer. This can negatively impact all the entities that Accountants liaise with, causing a number of issues such as duplica...

Tips to Improve Your "Contract to Cash Cycle"

In challenging economics conditions, deal cycles tend to take longer and companies tighten their purse strings. Negotiated terms do not always ensure timely payment and your point of contact likely does not control invoice payment. By understanding how procurement and payment cycles work, you can improve your "contract...

The number of folks involved in contract negotiations and execution may vary based on the size of the potential client. Negotiations may take place with one individual with a small business and may involve departments such as Finance/Accounting, Legal & Procurement in larger organizations. You can avoid contract ex...

4 Effective Cash Management Strategies

Cash management is as simple as 1-2-3:

1. Take in as much cash as possible as quickly as you can.

3 Reasons Why Diversification May Not Help Your Finances

Advice from financial professionals shouldn't be taken lightly. However, the pros' tips and tricks may not be the right strategies for your company. This is especially applicable when it comes to diversification. An old financial apothegm is "Diversify to minimize financial risk." That means dividing your money among m...

But are you investing to minimize the risk of losing money, or to maximize the "risk" of making money? The fact is, diversifying reduces your risk of significant financial loss but also reduces your hope of significant financial gain by exactly as much. It's like a game of tug-of-war; some of your money is pulling agai...

Top 5 Business Finance Trends

While everyone is straining for signs of hope in the current economic morass, the fact is that we're in a slump worse than any seen since the Great Depression. It's not hopeless, of course, but there's no use kidding ourselves that things are getting better right now. As Max Gunther wrote in The Zurich A...

Now is the time to see things as they really are, not as you wish they were. So here are the important business trends we see at work right now, without any varnish or sugarcoating.

Essential Business Insurance

It's tempting to skimp on insurance when you're just starting a business, or when money gets tight. After all, when you buy insurance you're betting that you will need coverage sooner than the insurer thinks! But the insurer has all those actuarial tables and is seldom wrong. Insurers make hefty profits by taking in mo...

More sophisticated business owners look at insurance as a way to manage risk. It's not a question of whether you will suffer a financial loss, but of when and how big it will be. Paying insurance premiums over time divides the inevitable loss into little, predictable chunks. If you can predict your expenses, half the b...

7 Tips for Maintaining Good Business Credit

Credit is one of your business's most important assets. It enables you to grow your company before you can afford to do so — a minor miracle. Credit can cushion economic blows, which every business suffers in good times as well as bad. Credit ratings are widely used as objective surrogates for subjective judgment...

The very first question a lender will ask is, "How long you have been in business?" The more established the business, the easier it will be to get credit. Incorporate a business as soon as you get the idea for it — don't wait until you have leased an office. For corporate officers, choose people with good person...

The Top 10 Accounting Software Vendors

Accounting software is an indispensable productivity-boosting and costing-saving tool for SMBs (small to medium-size businesses). The technology automates functionsthat many businesses once formerly performed painstakingly by hand, and it makes keeping accurate books significantly easier.

But with so many accounting software vendors, how can a company choose? Here's a rundown of the top 10 vendors providing all-purpose accounting programs as well as more specialized offerings such as budgeting, forecasting and business intelligence tools.

The Fundamentals of Green Accounting

Even as the economy continues to slide downward, more businesses are seeing green. But it's environmental accounting tools, not the color of money, that a growing number of companies are gazing at.

With a new administration in Washington and concern about global climate change heating up, green accounting is shaping up as the financial and accounting technology of the year. According to S2 Intelligence, an Australian market research firm, worldwide spending on green accounting systems will total $595 billion thro...

10 Essential Accounting Software Features

At first glance, it might appear that all accounting software is pretty much the same, offering accounts receivable, accounts payable, general ledger, billing and a variety of other standard components. Yet beyond these core attributes lie dozens of other features, covering a vast array of functions and services. Some ...

Information is power in today's challenging business environment. That's why any accounting program you evaluate must have robust reporting and analysis capabilities. Besides helping users gain insight into crucial financial activities, reporting and analysis functions help companies conform to government and industry ...

The Top 10 Payroll Features in Accounting Software

More companies are ditching time-consuming manual payroll systems and costly payroll service providers in favor of their own software. Whether supplied as a standalone program or as a module within an accounting software suite, a payroll software product should provide the automation, productivity, ease of use and othe...

Determining tax amounts for each employee is a basic payroll function. Any product you consider should be able to handle federal/state/local income, Social Security, Medicare, federal and state unemployment and state disability calculations. If your business has any additional tax calculation needs, make sure that soft...

Customizing SMB Accounting Software to Fit Your Needs

Most accounting software vendors go to great lengths to meet the needs of their SMB (small to medium-size business) customers, offering software with enough features and flexibility to address a variety of situations.

Yet despite vendors' best efforts, many accounting software users still find that they need functions and capabilities that differ from, or go beyond, the ones provided by their vendors. That's when it's time to consider customization.

Get In Touch

wheelhouse logo
Advertise With Us
info@wheelhouse.com