Like with a controller, whether or not you’ll need a full accounting service depends on the size of your business. Finance and accounting outsourcing is only the beginning—RSM has the people, processes and technology to transform your finance department and, by extension, your company. Through a partnership of 36 years, IBM and Oracle offer solutions that enable finance teams to lead digital transformation, support automation, become true business partners and improve agility across organizational boundaries. In this article, we delve into the world of finance and accounting outsourcing, understanding the landscape, and listing the top outsourcing providers in this domain. From cost savings and access to specialized expertise to enhanced…

This article covers the basic daily, weekly, and monthly accounting tasks to help keep SMBs on top of their finances. Reconciling these accounts with month-end data gives you a real-time view of a client’s cash balance. It helps you recognize and correct any double charges, failed payments, and other discrepancies that may have gone unnoticed over the month. Intuit accepts no responsibility for the accuracy, legality, or content on these sites. Also, check out our ebook, The Ultimate Guide to Business Process Automation, to learn more about how you can boost the efficiency of your business. This can be confusing, but we’ve tried our best to show you how simple…

This article covers the basic daily, weekly, and monthly accounting tasks to help keep SMBs on top of their finances. Reconciling these accounts with month-end data gives you a real-time view of a client’s cash balance. It helps you recognize and correct any double charges, failed payments, and other discrepancies that may have gone unnoticed over the month. Intuit accepts no responsibility for the accuracy, legality, or content on these sites. Also, check out our ebook, The Ultimate Guide to Business Process Automation, to learn more about how you can boost the efficiency of your business. This can be confusing, but we’ve tried our best to show you how simple…

Each account is assigned a unique number or code, which is used to identify it in the accounting system. To create a COA for your own business, you will want to begin with the assets, labeling them with their own unique number, starting with a 1 and putting all entries in list form. The balance sheet accounts (asset, liability, and equity) come first, followed by the income statement accounts (revenue and expense accounts). Asset, liability and equity accounts are generally listed first in a COA. Double Entry Bookkeeping For example, balance sheets are typically used for asset and liability accounts, while income statements are used for expense accounts. FreshBooks will…