While “fetching” might be what some trained dogs can do, accounting systems are getting into the act too. This relatively new feature is called “receipt fetching,” and it’s when an app can retrieve documents directly from the vendors that you do business with so you don’t have to spend so much time on paperwork retrieval. Apps that can perform receipt fetching can integrate with your accounts and pull invoices into their system. For example, if…
Read MoreInternal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to reduce organizational risk. A blunt way of putting it is internal control is what you put in place to avoid…
Read MoreA great entrepreneur will always be on the lookout for ways to improve their business. Efficiency is a goal everyone wants to achieve when it comes to business because it can translate into less work and more profits. Here are five ways you and/or your staff can become more efficient in your business. 1- Get software-savvy. Do you use the same software apps day in and day out? If you do, ask yourself how well…
Read MoreA quick glance is all you need to check your fuel gauge, speed limit, engine temperature, and RPM when you’re driving down the road. Your car’s dashboard is designed to focus you on what’s important and what you need to know to have a safe trip. Your car’s dashboard items, if they applied to business, would be called key performance indicators or KPIs. Unlike a car’s, the KPIs of your business vary depending on your…
Read MoreIf you have employees, you have the distinct honor once per year of being part of a worker’s compensation audit. You likely receive a form in the mail, an email request, or a phone call that will ask you about your payroll numbers and employees for the prior year. Worker’s compensation is an insurance program that covers employees in the case they get hurt on the job. Each employee receives a classification code that describes…
Read More