Businesses that choose to outsource their bookkeeping and tax preparation must prioritize the safety and security of their financial and customer data. For this, you should consider a service provider who is SOC II-compliant. SOC II (System and Organization Controls)...
Accounts receivables (AR) are essential for a business’s financial health. They refer to the money customers owe for products or services that have been provided but not yet paid for. In many business organizations, delivering goods or services without collecting...
Accounts receivable is the lifeblood of a business’s cash flow. According to Forbes, 39% of all the invoices sent are paid late in the United States. Without a proper accounts receivable process in place, business owners will be repeatedly facing cash flow...
According to NetSuite, accounting errors can undermine a company’s credibility. Accounting is an important aspect of a company’s financial success, and it can directly affect the operations of the company. Cash reconciliation is one of the important steps that should...
Even smaller error rates in accounts payable can lead to substantial financial losses for businesses, emphasizing the importance of accurate and efficient accounts payable. According to a study by Deloitte, the payment error rate in most enterprises is typically...
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