Read more about the article Financial Literacy Initiatives and the Role of Accounting in Small Business
Accounting / Bookkeeping / Outsourced Bookkeeping

Financial Literacy Initiatives and the Role of Accounting in Small Business

In today’s competitive business landscape, financial literacy is no longer a luxury but a necessity, especially for small business owners. Understanding your business’s finances—from cash flow to profit margins—is essential for sustainable growth. Yet, many entrepreneurs lack the time, expertise, or resources to manage their accounting effectively. This is where…

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January 9, 2025
Read more about the article Bench Accounting Shutting Down: Impact on Over 12,000 SMEs and Alternative Solutions
Outsourced Bookkeeping

Bench Accounting Shutting Down: Impact on Over 12,000 SMEs and Alternative Solutions

The sudden shutdown of Bench Accounting on December 27, 2024, has sent shockwaves through the small and medium-sized enterprise (SME) community. Serving over 12,000 small businesses, Bench was a prominent online bookkeeping and tax filing platform. Its abrupt closure has left many SMEs grappling with immediate challenges and uncertainties. https://www.finaloop.com/…

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January 2, 2025
Read more about the article The Influence of AI and Automation on Accounting Practices
How AI bookkeeping will impact businesses
Accounting

The Influence of AI and Automation on Accounting Practices

The accounting landscape has experienced substantial changes in recent years, propelled by artificial intelligence (AI) and automation advancements. These technologies are transforming how organizations manage their financial operations, presenting opportunities for increased productivity while also posing challenges. For professionals familiar with traditional bookkeeping, this evolution marks a significant transition, with AI-driven…

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December 5, 2024
Read more about the article Bookkeeping for Real Estate Investors: Tracking Capital Gains and Losses
Bookkeeping
Outsourced Bookkeeping

Bookkeeping for Real Estate Investors: Tracking Capital Gains and Losses

Real estate investment can be highly lucrative, but it requires more than just finding great deals and flipping properties. To succeed, you need to have your finances in order, particularly when it comes to tracking capital gains and losses. With terms like outsourced bookkeeping, tax preparation, accounts payable outsourcing, and…

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November 26, 2024
Read more about the article Balancing Automation and Human Expertise in Accounting: A Guide to US GAAP Compliance and Tax Preparation
Accounting

Balancing Automation and Human Expertise in Accounting: A Guide to US GAAP Compliance and Tax Preparation

In an era where artificial intelligence and automation are revolutionizing industries, the accounting profession stands at a fascinating crossroads. While automated systems can process thousands of transactions in seconds, maintaining US GAAP compliance and navigating complex IRS regulations still requires a distinctly human touch.The integration of automation in accounting isn't…

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November 12, 2024
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