May, 2018

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What is the Difference Between Bookkeeping and Accounting

Billah and Associates

Bookkeeping vs Accounting For most people bookkeeping and accounting would seem like the same thing. Ask them the difference and they will be hard-pressed to come up with an answer. They aren’t to blame really, because both bookkeeping service and accounting service are actually part of the financial cycle that a company follows. The fundamental difference bookkeeping vs accounting is the nature of the work.

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AutoEntry and the importance of document processing granularity

Cloud Accounting Podcast

AutoEntry began life as OCREX, a tool for extracting transactions from paper bank statements. Not long after, the company expanded to extracting information from other types of documents, including receipts, purchase orders, and invoices. One thing that makes AutoEntry different than other document processing solutions is that it can extract full line item detail from documents, making it very powerful for businesses that need to get granularity out of their bills.

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The Risks of Paper Payments

AvidXchange

It takes plenty of patience to deal with paper-based accounts payable processes, especially when paying vendors with paper checks, and there are many other accounts payable problems that finance departments tend to downplay. The costs and risks associated with paper far exceed the reward businesses think they’re getting by using paper. In reality, paper payments bring about more troubles than success.

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May 29, Privacy Policy | Terms of Use

Bookkeeping Essentials

GDPR went into effect May 25, 2018. Terms of Use - Legal Disclaimer - Privacy Statement - Advertising Links - Compensation Disclosure for Bookkeeping-Essentials.com. Please read the terms carefully.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

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CloudZero Selected as Finalist for MIT Sloan CIO Symposium’s Innovation Showcase

CloudZero

FOR IMMEDIATE RELEASE. Contact: CloudZero 857.400.0564 info@cloudzero.com.

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Pros & Cons of DIY Bookkeeping

Billah and Associates

Managing the accounts and doing the bookkeeping are good practices, especially if you have a good knowledge of the accounts. The decision of handling own accounts is good and favorable for new business owners when the complications are not that high. However, varying the responsibilities further can be a risk as the engagements of the business owners increase quite significantly.

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The Net Worth Episode: Warren Buffet's GAAP Troubles & Building Wealth by Owning a Business

Cloud Accounting Podcast

Mentioned in this episode: Buffett’s Berkshire Braces for ‘Wild’ Swings From New Accounting — Bloomberg Net Worth Composition By Levels Of Wealth: Build A Business Already — Financial Samurai The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers — Bloomberg Episode 823: Planet Monet — Planet Money Subscribe: Listen on iTunes/Apple Podcasts Listen on Google Play It's the second episode of the podcast 2.0 with my new co-host, David Leary!

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Ancient IRS Computer Systems, How to Get Hacked as a CPA, & News from SuiteWorld 2018

Cloud Accounting Podcast

Stories mentioned in this episode: The IRS really needs a new computer system — Accounting Today What Accountants On NetSuite Need To Know From SuiteWorld 2018 — FloQast Blog When Identity Thieves Hack Your Accountant — Krebs on Security A Robot Does the Impossible: Assembling an IKEA Chair Without Having a Meltdown — WIRED Subscribe: Listen on iTunes/Apple Podcasts Listen on Google Play David Leary joins the podcast for the first time as my new co-host.

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How mAccounting is turning accounting from a necessary evil to a strategic advantage

Cloud Accounting Podcast

Tom is a CPA. He is also the founder and managing director of mAccounting , an Indianapolis based CPA firm specializing in outsourced accounting, tax, and CFO services to small and mid-sized companies. In 2015, mAccounting was recognized as one of the most progressive accounting firms in the nation when it was selected as an Intuit “Firm of the Future”.

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5 Reasons We’re Excited for REVOLUTION 2018 in Chicago!

AvidXchange

Chicago is catching the eye of tech experts seeking the next big place for innovation. It’s becoming a leading global innovation hubs. At AvidXchange, we love innovation, so we hand-selected the vibrant Windy City as the venue for this year’s AvidXchange users conference, REVOLUTION 2018. Join us for two full days of interactive demos, important announcements, and best practices that will keep you ahead of the game in 2018.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

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.

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4 Red Flags That Your Accounts Payable System Is a Sinking Ship

AvidXchange

As much as fintech has evolved, finance departments are still chasing paper to manage accounts payable systems. Why? For some, it’s a force of habit, along with the concern of letting go of the proven accounts payable system. For others, it’s lack of budget and fear of no ROI. So, they’re continuing to rely on paper to manage accounts payable operations without realizing all the risks.

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4 Reasons You Need a Paper-Free Accounts Payable Process

AvidXchange

We all know that the accounts payable process isn’t a straight and narrow path. Several small steps can make a big difference when it comes to paying vendors on time—invoice entry, approvals, and handling different payment methods. These steps aren’t all that simple, especially with paper. Paper is the reason for most problems plaguing finance departments.