Accounting Department
APRIL 18, 2023
Opportunity cost is a concept in business that refers to the value of the best alternative forgone in order to pursue a certain action or decision. It is a crucial element to consider when evaluating the benefits and drawbacks of various options, particularly in business.
Ascend Software blog
APRIL 18, 2023
In today's fast-paced business environment, companies are constantly seeking ways to increase efficiency, reduce costs, and stay competitive. One area where businesses can make significant improvements is in their accounts payable (AP) processes, and automated invoice processing is at the forefront of this transformation.
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Dext
APRIL 18, 2023
Our very own Head of Platform and Growth, Mustafa Roomi, shares some exciting and highly-anticipated product news. Hello, I’m Mustafa, and I head up our platform and growth areas as part of the Dext product team. I’ve been at Dext for just over six years, and announcing this brings me a whole lot of joy.
Gaviti
APRIL 18, 2023
To effectively tackle a recession, it’s essential to understand the economic factors that contribute to it. In the recession we are currently experiencing, interest rates and inflation rates are playing a major role. This blog post will explore various strategies that finance and collections teams can adopt to better handle issues that might arise from these recent unyielding interest rate increases.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Future Firm
APRIL 18, 2023
Artificial intelligence in accounting is currently transforming the industry. In this article, you’ll: See concrete examples of how AI is currently being used in the profession How you can start using AI in accounting right now Understand the benefits and risks of AI Plus more… And by the way, since this article is about AI, the remainder of it, with our guidance, will be written by AI An explanation at the end of this article describes how AI was used to produce this post.
Insightful Accountant
APRIL 18, 2023
erplain offers B2B sales and inventory simplified for your small- to medium-sized business using QuickBooks Online.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Insightful Accountant
APRIL 18, 2023
FFP Wealth Management's John Graziano offers some timely tips you can employ now that tax time is over (sort of).
Accounting Tools
APRIL 18, 2023
Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is Net Profit Margin? Net profit margin is the percentage of revenue left after all expenses have been deducted from sales. The measurement reveals the amount of profit that a business can extract from its total sales. The net profit margin is intended to be a measure of the overall success of a business.
dynavistics
APRIL 18, 2023
Microsoft Dynamics GP Electronic Banking feature will increase your ROI. There is a better way to reconcile your bank statements with the Dynamics GP software you already own. The Electronic Bank Reconciliation module in Dynamics GP is easy to set up and can save you a lot of time and headache whether you reconcile monthly, weekly, or even daily. n short, the EBR module automatically reconciles cleared transactions between the checkbook or cash sub-ledger and the bank statement.
Nanonets
APRIL 18, 2023
Automated Clearing House (ACH) payments have become increasingly popular among growing businesses, for their faster processing times, lower fees, and reduced risk of fraud. However, managing ACH payments can be a challenging task for AP teams, especially when dealing with multiple vendors and payment preferences. In this article, we’ll provide a detailed look at how ACH payments work , why they’re better than checks or cards, and how to get started with ACH.
Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence
In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.
AvidXchange
APRIL 18, 2023
Nonprofits face many of the same challenges as traditional for-profit businesses, yet they also have unique hurdles. This year, some of the top nonprofit trends reflect those of the business community as a whole, while others are isolated to the nonprofit sector. In this piece, we’ll share the top six trends our nonprofit experts have witnessed in the field.
The Successful Bookkeeper
APRIL 18, 2023
Many bookkeepers struggle with staying profitable, and it's often due to how they price their services. This problem stems from clinging to a faulty pricing model. Here's how you can change it for the better.
AvidXchange
APRIL 18, 2023
Education Week reports that K-12 schools are experiencing a “perfect financial storm” in 2023, stretching already tight resources. As economic conditions force schools to consider layoffs amidst teacher shortages, administrative staff, including financial departments, are bearing the brunt. Schools must invest in automation technology to help financial staff do more with less.
Accounting Tools
APRIL 18, 2023
Related Courses Activity-Based Costing Cost Accounting Fundamentals What is Cost Assignment? Cost assignment is the allocation of costs to the activities or objects that triggered the incurrence of the costs. The concept is heavily used in activity-based costing , where overhead costs are traced back to the actions causing the overhead to be incurred.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
NACM
APRIL 18, 2023
Credit professionals who have been in the industry for several years have lots of knowledge and expertise in their career. But it's never too late to learn something new—or fine tune those skills you use on a daily basis. Just like a car, even the most reliable tires need to be rotated after a while to keep the machine rolling. "When I got recruite.
Accounting Tools
APRIL 18, 2023
Related Courses Fixed Asset Accounting Fixed Asset Controls How to Audit Fixed Assets What is the Declining Balance Method? A declining balance method is used to accelerate the recognition of depreciation expense for assets during the earlier portions of their useful lives. This leaves less depreciation expense to be recognized later in their useful lives.
AvidXchange
APRIL 18, 2023
“The Power of Change” podcast delivers insights from industry leaders who embrace change, using it to boost their careers and energize their organizations. In the latest episode, AvidXchange CEO Michael Praeger interviewed Elizabeth Francisco, chief experience officer for Inhabit. The company’s product lineup includes ResMan , a property management platform that Francisco’s led as president and co-founder since 2016.
Accounting Tools
APRIL 18, 2023
Related Courses Accounting Procedures Guidebook Bookkeeping Guidebook What are Prepaid Expenses? Prepaid expenses are expenditures that have not yet been consumed, and so are capitalized for a short period of time. They are initially recorded on the balance sheet as current assets , and are later charged to expense. The following procedure shows a consistent way of charging these items to expense.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
Nanonets
APRIL 18, 2023
One important financial document that is common to all businesses is the invoice. The larger the business, the more types of invoices it receives in the course of its operations. The digitization of these varying formats of invoices into a unified system for easy storage and access becomes imperative to the functioning of the establishment. That's where invoice readers come in.
Accounting Tools
APRIL 18, 2023
Related Courses Accounting for Investments Corporate Finance Treasurer's Guidebook What is the Conversion Ratio? The conversion ratio is the number of common shares that the holder of a convertible security could receive by submitting the security to the issuer for conversion. This ratio applies to convertible bonds and convertible preferred shares.
Nanonets
APRIL 18, 2023
Paperwork has always been a grave enemy of any business. With the advent of modern technology at every nook and corner, everybody thought that we will truly achieve a paperless environment. However, we are still stuck with a lot of paper trail in any business since many forms and documentation are still done by hand. This is where PDF OCR steps in and presents itself as a game changer for business and personal use in this advanced technological era.
Accounting Tools
APRIL 18, 2023
Related Courses Small Business Tax Guide What is Constructive Receipt? Constructive receipt is a taxation concept under which a taxpayer is assumed to have received income even if the income has not yet been physically received. This income must then be reported for the calculation of income taxes. The concept is used to ensure that tax payments are not unreasonably delayed by taxpayers.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Accounting Tools
APRIL 18, 2023
Related Courses GAAP Guidebook International Accounting What are the International Accounting Standards? International Accounting Standards mandated how various accounting transactions were to be recorded and reported in an organization's financial statements. Their intent was to reduce differences in the accounting for transactions and financial statement presentation around the world, which in turn could improve the investment climate.
Accounting Tools
APRIL 18, 2023
Related Courses The Balance Sheet What is a Paid-In Surplus? A paid-in surplus is the incremental amount paid by an investor for a company's shares that exceeds the par value of the shares. If there is no par value, then the entire amount paid is classified as paid-in surplus. This amount is recorded in a separate equity account , which appears in the balance sheet of the issuer.
Accounting Tools
APRIL 18, 2023
Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is a Petty Cash Fund? A petty cash fund is a small amount of bills and coins that an organization keeps on the premises to pay for minor expenditures. A petty cash custodian is responsible for this fund, and maintains an up-to-date reconciliation of the amount of bills and coins remaining in it.
Accounting Tools
APRIL 18, 2023
Related Courses Activity-Based Costing Cost Accounting Fundamentals What is a Pool Rate? A pool rate is the application rate used to assign the overhead costs in a cost pool to cost objects. It is calculated by dividing the aggregate cost total in a cost pool by the cost driver assigned to that pool. Example of a Pool Rate Calculation A factory overhead cost pool contains a total of $100,000 of factory overhead costs.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Accounting Tools
APRIL 18, 2023
Related Courses Financial Analysis The Interpretation of Financial Statements What are Normalized Earnings? Normalized earnings are an organization’s reported profits , adjusted to remove the impact of seasonality , as well as unusual revenues and expenses. For example, a business might strip out the one-time gain caused by winning a lawsuit, since it does not reflect the operational capabilities of the organization.
Accounting Tools
APRIL 18, 2023
Related Courses Financial Analysis What is the Present Value of an Annuity? The present value of an annuity is the current worth of a series of future cash flows. These cash flows are generated by an annuity financial instrument. The current worth of the cash flows is based on a discount rate selected by the user, such as a targeted return of investment or the current market interest rate (i.e., the interest rate at which you could obtain financing on the open market).
Accounting Tools
APRIL 18, 2023
Related Courses Corporate Cash Management Treasurer's Guidebook What is Physical Sweeping? Physical sweeping is the movement of cash from multiple bank accounts into a single concentration account. This is typically accomplished with a zero-balance account , from which a bank automatically sweeps all cash at the end of the day, and into a concentration account.
Accounting Tools
APRIL 18, 2023
Related Courses The Balance Sheet What is a Consolidated Balance Sheet? A consolidated balance sheet presents the financial position of an affiliated group of companies. The result is a balance sheet that shows the assets , liabilities , and equity of the group as though they were a single firm. This document is usually presented as part of a complete set of consolidated financial statements.
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