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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.

Businesses of any size most likely have an automated accounting software system of some type. Smaller organizations may likely use Quickbooks or Peachtree, which largely are designed around a "one-size fits all" approach. Larger organizations may have custom-designed applications written for the complex and unique need...

As organizations grow and become more complex, their perceived need for more specific functionality, able to efficiently handle their "unique" needs, drive their move toward a more vertical accounting software solution. Developers who have written an application for a client in a particular industry may package that pr...

A business must rely on an accountant to prepare financial statements and carry out an important analysis based on these reports. An accountant compiles the information provided by business statements, reviews them with the help of business representatives, and audits the final reports to ensure their accuracy. So, the...

Financial statement analysis involves the comparison of information of one entity over different periods of time or the comparison of information of different entities during the same period. The four main statements that are analyzed during the procedure include the balance sheet, income statement, statement of owner'...

When It's Time to Move Beyond QuickBooks

There are five tell-tale signs QuickBooks is not keeping pace, indicating you should consider moving to a mid-level system:

A Roadmap to SuccessThe solution for tackling the challenges involved in an upgrade is to plan a "roadmap" all stakeholders approve and agree to follow. The first step is a thorough needs assessment, as the implementation of a new accounting system often impacts multiple business units and the flow of data between depa...

Finance companies specializing in software and computer systems will work with you, if necessary, to set lease payments that spread purchase costs across several years, which alleviates pressure on cash flow. Depending on the circumstances, there may be tax advantages to long-term financing as well. Selecting a Solutio...

Your competitors are investing, you need to keep up.

A recent survey for CIO Magazine found that 48% of IT professionals say their overall budgets will increase in the coming year - compared to 14% who said that a year ago. Half of that was predicted to go to application software. If your competition is investing in better business intelligence and better reporting for t...

For example, many customers are never told that Microsoft offers unlimited free online training for all Advantage Plan customers, plus a set number of free support calls. This particular plan also gives you access to an online portal which includes a support "techknowledge" database.

The biggest benefit of paying for the maintenance plan is that you receive all the new software releases and updates. Companies stuck with old versions risk losing support from the vendor or having compatibility issues with newer technology. Plus, each release is packed with useful new features.

Young customers today expect financial institutions to communicate using social media or online outlets. This is the conclusion drawn from a survey conducted by KRC Research that queried on what steps banks could take to regain customers' trust.The trust of young customers in banks and other financial services firms we...

Twitter: Customer interaction and information sharing tool for financial institutions

The process of ferreting out current period business expense items to be accrued at period-end can be a difficult experience for many organizations, but it need not be so. To gain control over period-end accruals requires a combination of both process automation steps and process discipline for best results.

How can an organization get control of over its period-end accruals? The first question to ask yourself is how do we control spending today? Procedurally, every organization should control current-period spending by one of these methods:

As the sales process gets more complex, and as reps are expected to manage an increasing volume of leads, sales-efficiency tools — which are the basis of SFA — are becoming all but mandatory. Here's a list of the benefits SFA brings; if three or four address pain points in your company, then you're probably...

1. Improved collaboration: SFA allows sales teams, managers and other departments to easily swap up-to-date sales information, from price lists to products specifications.2. Better managed territories: Having your West Coast-based reps manage New York City-based clients is an exercise in geographic mismanagement. An ef...

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...