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Running a small to medium-sized business (SMB) comes with its own set of challenges and rewards. One of the most pivotal aspects of ensuring your business's success is strategic financial planning. While it might seem daunting, mastering this process can propel your business growth and profitability to new heights. This blog post will walk you through the critical steps in strategic financial planning tailored specifically for SMB owners.
A little-known feature of RMD tax withholdings could help minimize a client's effective tax burden. Not all financial advisors are on board with the strategy.
Did you know Microsoft Dynamics GP includes a powerful feature that can significantly reduce the time and effort required to reconcile your Accounts Payable subledger with your General Ledger? In this post we will tell you about Great Plains' Reconcile to GL tool, how to use it and the how it helps AP teams reduce month-end stress.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
If your charity is already running a tight ship when it comes to finance, you’re likely seeing the benefits in saved time, reduced stress, and better strategic outcomes. Many organisations are still catching up, so if you spot these signs in your own processes, it’s a clear indicator that you’re ahead of the curve. 1) You Have a Real-Time View of Spend Against Budgets If you can instantly see how each department is tracking against its budget, you’re not just in control
Managing the finances effectively is important for the growth and success of any e-commerce business. When company grows, finance management becomes complicated. E-commerce outsourced accounting helps in saving overhead costs, enhances accuracy, and also offers specialized proficiency which allows you to focus on your core business processes. If you are also an e-commerce company struggling with your accounts, then this blog is for you.
Running a business means wearing many hats, but as your company grows, certain tasks become too difficult to manage in-house. One of the most challenging areas for growing businesses is accounting. Between compliance, financial reporting, and keeping the books clean, managing finances in-house can quickly shift from practical to overwhelming.
By Stephanie Peterson, Advanced QuickBooks ProAdvisor | Superior Virtual Bookkeeping LLCWhen it comes to retirement planning, one of the most powerful tools Americans have is the 401(k). Yet, despite its potential, millions of dollars are lost each year due to common and avoidable mistakes.
Youve successfully operated your small business for years. Its likely been your brainchild and your dream. But now, its time to retire. For business owners who make the difficult retirement decision, it is critical to approach financial planning for retirement as far in advance as possible, with plenty of due diligence and with professional assistance.
Effective credit management has always been essential to business success, but as the world evolves, traditional approaches are giving way to technological approaches. Today, artificial intelligence (AI) has become a transformative force, reshaping how businesses handle credit management. AI-driven solutions not only streamline credit processes but significantly reduce risks, create more objective decision making and enhance overall financial health.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Watch: Smarter Spending & Budget Control with Advanced AP Automation for Charities Fill in the form to access the on-demand recording of our webinar session looking specifically at how UK Charities are saving time and money with smarter AP automation. Name Work Email Address Job Title Watch the video Watch: Smarter Spending & Budget Control with Advanced AP Automation for Charities The post Smarter Spending & Budget Control with Advanced AP Automation for Charities first appeared on
Small businesses are the backbone of the U.S. economy. As of 2024, there are approximately 34.8 million small businesses nationwide, making up 99.9% of all U.S. businesses and employing nearly half of the private workforce [1]. But running a small business is no small feat. Owners often juggle every role, from customer service to CEO. And while it may feel manageable at first, handling small business bookkeeping without the right system or experience can quickly lead to costly missteps.
Podcast Episode Round-Up In this episode of the Growing Your Firm podcast, host David Cristello welcomes Alan Whitman, the former CEO and chairman of Baker Tilly. Alan shares his remarkable journey of transforming Baker Tilly from a $475 million firm to a $1.5 billion powerhouse. Throughout the conversation, Alan describes how businesses can thrive largely by prioritizing strategy over aimless accumulation.
In today’s rapidly evolving financial landscape, the collections process is undergoing a significant transformation driven by artificial intelligence. As we navigate through 2025, organizations are increasingly turning to AI-powered solutions to streamline their accounts receivable operations, reduce manual workloads, and improve recovery rates.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Payroll management in the construction industry is not an ordinary task. Its the spine of employee satisfaction, compliance with the law, and smooth project implementation. Payroll is a maze for many construction companies, where they have different job codes, changing shifts, several job sites, and different pay structures. That is why construction payroll services have evolved from being nice-to-have to a must-have for businesses of today.
Success in bookkeeping isnt just about knowing the numbersits about confidence, efficiency, and a clear strategy for growth. Many bookkeepers struggle to take their business to the next level because they lack structured systems, effective marketing, or a long-term vision. To build a thriving bookkeeping firm, you need to focus on four key areas.
Rising Interest Rates and Inflation in Singapore As we step deeper into 2025, Singapores small business landscape is being shaped by two unavoidable forces: rising interest rates and persistent inflation. From supply chain costs to financing expenses, everything is getting more expensive and it’s putting real pressure on margins, cash flow, and long-term planning.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
As a business owner in Murrieta, Temecula, or anywhere in Southern California, your time is one of your most valuable assets. Whether you're a contractor juggling multiple job sites, a real estate professional managing listings, or a service-based entrepreneur wearing all the hats; keeping your books in order can quickly fall to the bottom of your to-do list.But heres the good news: you dont have to do it alone.
A recent Treasury Inspector General for Tax Administration report reveals that IRS "sweeps" targeting high-income nonfilers have proven remarkably effective.
Average collection period refers to the amount of time it takes your business to receive payments from clients. Its a metric commonly used to get a snapshot of cash flow on hand and how effective the companys collection process is overall. Lets review why this metric is important, how to calculate average collection period , and how modern tools like automation can take the hard parts off your shoulders.
Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives
Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri
Share Transfer vs. Share Allotment in Singapore: What Every Business Owner Should Know As a small business owner in Singapore, there may come a point where you want to bring in a new shareholder or adjust existing ownership among current investors. But the way you go about it makes a legal, financial, and even accounting services -related difference.
Adopting new technology quickly is the name of the game in fintech, but not everyone in your organization including your customers will be on board at first. In this episode, Michael Praeger sits down with Blake Sanford , VP of Association and Strategic Partners at Property Management, Inc. (PMI) , to discuss how h e s led PMIs franchise owners through technology advancements.
The New Jersey Society of CPAs is proposing an additional pathway to obtain CPA licensure, supporting a bill that would modify New Jersey's Accountancy Act.
The tax profession faces unprecedented recruiting challenges in 2025. As specialized tax expertise becomes increasingly valuable amid evolving legislation, firms struggle with a diminishing pipeline of qualified candidates.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
I joined Devon Coombs on his "Ambition, Aligned" podcast for what might be my most candid conversation yet about the accounting profession's biggest problems. The title says it all: "We're All Lying." Because we are. Every firm that bills by the hour knows staff routinely eat time to meet impossible deadlines. Every manager who's signed off on a rushed audit knows corners were cut.
Virtual AGMs and E-Signatures in Singapore: The Future of Corporate Governance for SMEs Corporate governance is evolving and fast. For small businesses in Singapore, adapting to digital processes is no longer optional. The shift toward virtual Annual General Meetings (AGMs) and electronic signatures (e-signatures) reflects a broader push to make compliance more efficient, accessible, and aligned with how modern businesses operate.
Predictability is key if you want to systematize your firm. Here are a few practical tips I used back when I was running mine. The post The Critical Feature of a Systematized Firm: Predictability appeared first on Future Firm.
The International Auditing and Assurance Standards Board released information on its new standard, while the International Public Sector Accounting Standards Board has an exposure draft on materiality.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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