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The Pros and Cons of Outsourcing Accounting Functions

Accounting is a requirement for all companies across industries. Therefore, hiring a in-house accounts personnel is a common practice. However, there is another alternative that most companies fail to consider due to misconceptions and other priorities. Outsourcing accounting tasks is a possibility worth considering. But is it the perfect match for you? Let us see […]

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Restaurant Accounting: How It’s Different!

If you are a restaurant owner, or a prospective accountant exploring various career avenues, you may have wondered how restaurant accounting might be different from other forms of accounting. It’s all relative and similarly structured in the full verse of accounting. However, there are key differences that diversify the field of accounting as per various […]

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Budget – The Key to Business Profitability

Every business needs to have a revenue target which they need to fulfill within a given time frame. There may be deviations from the path to achieving the objective, but eventually, we can attain the goal if we have a specific plan. The path or road map that we need is a budget, and it […]

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Get the Most out of Your Real Estate Investment

Before you step into the real estate domain and want to find out if you’re getting the best bang for your buck, you need to understand where the market is headed in 2019. According to the US Housing market forecast 2019/2020 as well as an opinion from the National Association of Realtors (NAR), Zillow and […]

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A Simple Rental Property Accounting System for Small Landlords

Wouldn’t it be a lot convenient to have a system that simplifies all your transactions? Imagine a rental property accounting system that helps you keep track of all your transactions all throughout the financial year. The system we will consider here works wonders for small landlords. It will allow you to scale your business without […]

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A Glossary of Common Lease Terms

Understanding lease words and terms help you fully comprehend your lease agreement. Below are some commonly used words and terms in lease agreements and their definitions: Common Lease Terms Base Rent The minimum rent payable by a tenant excluding all other charges and dues. Breakpoint The gross sales amount point after which a tenant is […]

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Construction Industry Best Practices in Internal Controls

Construction industry has a high transaction rate and the transaction amounts are pretty high as well. So it is safe to assume that frauds in construction accounting can lead to big losses. While these losses are not unheard of, it is best to avoid any misdoings at all costs. With the current economic situation, people […]

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The New Way to Manage Your Restaurant Accounts is Outsourcing

Managing a restaurant business is definitely not the easiest of tasks. There are many things that you need to take care of including managing the kitchen, keeping a track of delivery orders, greeting your customers and the list goes on. On top of it all, if you need to sit with a pen and calculator […]

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The Basics of Construction Accounting

Accounting procedures and practices differ according to the type of business and practices adopted by organizations across sectors. In the construction industry, firms and contractors face unique challenges when it comes to accounting, as accounting for construction sector is different from the regular accounting practices. Construction industry does not have any fixed business structure with […]

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Cost of Accounting Outsourcing Service for Small Businesses

Most entrepreneurs start their business with a passion to sell their product or service. Everything else involved in a business comes afterwards. When the firm is in its nascent stage, a company can afford to spend time on its core activities while multitasking with its non-core activities. However, as a company starts growing, it should […]

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