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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.
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.
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.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
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
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.
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.
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.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
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.
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.
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.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
The Be Insightful Member program supports ProAdvisors & accountants with expert-led training, webinars, and networking. Gain CPE credits, industry insights, and tools to enhance your practice. Flexible plans ensure professionals stay ahead. Join now!
Businesses need improved IT systems and infrastructure, as traditional in-house servers and fixed setups cant keep up with rapid digital and technological advancements. A better choice is Cloud-based Managed IT.
SSI Group, LLC, Strengthens Leadership Team to Drive Continued Investment in Growth and Customer Success The SSI Group, LLC announced key leadership changes to advance innovation and strengthen client success. New appointments and promotions reinforce the companys focus on growth, marketing, and customer engagement. Read More SSI Announces Leadership Additions to Drive Tech & Growth The SSI Group, LLC, announces leadership additions to continue its investment in technology leadership and cu
In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.
What if your firm could cut its tech stack in half while delivering faster results to clients? In this episode, Blake and David explore the consolidation revolution in accounting software as practice management tools secure massive funding rounds. They also break down how private equity is reshaping the profession's business model, with some firms now prohibiting CPAs from using their credentials in email signatures.
Yes, a business loan can affect personal credit in certain circumstances, such as during the application process or in the event of loan default. That said, it can also depend on factors such as loan type or your business structure. If you are looking to secure financing for your business and are curious about how. The post Does a Business Loan Affect Personal Credit?
With proper subcontractor compliance, you're not just checking boxes; you're building a foundation for sustainable growth. The post Your Secret Weapon to Profitability: Protect Your Profits with Subcontractor Compliance appeared first on Reconciled Solutions.
Top Remote Tax and Accounting Candidates This Week Are you in need of remote accountants? Accountingfly can assist you! Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote tax and accounting candidates without any upfront costs. Here are some of this week’s top remote tax and accounting candidates.
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.
Featured Articles Trade Credit & Liquidity Management is a reader-supported publication. To receive new posts and support our work, consider becoming a subscriber. For a limited time, annual subscriptions are half off. Conversations Action Items Do you like the newsletter?
Top Remote Tax and Accounting Candidates This Week Are you in need of remote accountants? Accountingfly can assist you! Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote tax and accounting candidates without any upfront costs. Here are some of this week’s top remote tax and accounting candidates.
From a Press Release dated May 13, 2025, London, United Kingdom Mirakl , a leading provider of e-commerce software solutions, has partnered with fintech company Storfund to offer an embedded cash flow solution called Daily Advance to businesses operating on the 400+ marketplaces powered by Mirakl. Major B2C and B2B brands, including Macy’s, Nordstrom, Best Buy, B&Q, Decathlon, and Carrefour, sell through Mirakl’s marketplaces.
Starting a coffee shop involves more than just great beans and an espresso machine. Youll need a solid business plan, the right location, equipment, licenses, staff, and a strategy to attract loyal customers. This step-by-step guide breaks it all down costs, tips, and tools included so you can go from idea to grand. The post How to Start a Coffee Shop: Costs, Tips & Step-by-Step Guide appeared first on Fit Small Business.
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.
From a Press Release dated May 7, 2025, New York, NY Balance , a leading B2B financial infrastructure platform, has launched "Instant Bank Connection," a new feature powered by Real-Time Payment (RTP) rails. This innovation streamlines the setup and processing of ACH payments for business buyers and merchants. (Photo by Çağlar Oskay on Unsplash ) This launch is part of Balance’s broader mission to modernize B2B commerce by combining RTP-powered bank verification with AI-driven cr
From a Press Release dated May 8, 2025, Austin, Texas Gotransverse , an enterprise billing and revenue management solution provider, has formed a strategic partnership with The Whole Group. The Whole Group provides a CRM solution built in collaboration with ServiceNow , an AI platform for business transformation that connects and automates workflows across enterprises.
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.
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