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Accounting Outsourcing: Boost Business with External Resources

Accounting Outsourcing: Boost Business with External Resources

In today’s fast-paced business environment, companies are continually seeking ways to enhance efficiency, reduce costs, and focus on core competencies. One strategy that has proven to be highly effective is outsourcing. Outsourcing involves delegating certain business functions to external service […]

  • May 21, 2024
  • OHI
Construction Accounting vs. General Accounting: Key Differences

Construction Accounting vs. General Accounting: Key Differences

Introduction Accounting serves as the backbone of financial management across various industries, offering insights into revenue, expenses, and overall profitability. However, when it comes to the construction sector, accounting takes on a unique dimension, marked by specialized practices tailored to […]

  • February 9, 2024
  • OHI
Real Estate Accounting Services: Streamlining Financial Success in the Property Market

Real Estate Accounting Services: Streamlining Financial Success in the Property Market

INTRODUCTION The real estate industry is a multifaceted and dynamic sector that offers immense potential for financial growth and investment opportunities. Whether you are a real estate professional, property owner, or investor, you are well aware of the complexities involved […]

  • February 6, 2024
  • OHI
Hiring a Real Estate Accountant vs. DIY Accounting: Making the Right Financial Choice for Your Real Estate Ventures

Hiring a Real Estate Accountant vs. DIY Accounting: Making the Right Financial Choice for Your Real Estate Ventures

Introduction: Real estate investment can be a lucrative and rewarding endeavor. However, it also comes with a host of financial complexities that require careful management and accounting. As a real estate investor or property owner, you face a pivotal decision: […]

  • February 1, 2024
  • OHI
10 Accounting Trends to Watch in 2024

10 Accounting Trends to Watch in 2024

The world of accounting services is in a constant state of evolution, shaped by technological advancements, regulatory changes, and shifting business landscapes. As we step into 2024, it’s crucial for professionals in the accounting services field to stay informed about […]

  • January 25, 2024
  • OHI
Explaining Construction Accounting: A Comprehensive Guide to Financial Management in the Construction Industry

Explaining Construction Accounting: A Comprehensive Guide to Financial Management in the Construction Industry

Introduction: Construction is a multifaceted and often intricate industry that demands meticulous financial management to ensure projects are completed successfully, on time, and within budget. Effective construction accounting is the linchpin of this financial oversight, providing construction companies and contractors […]

  • January 17, 2024
  • OHI
The Comprehensive Guide to Real Estate Outsourcing for Small Investors

The Comprehensive Guide to Real Estate Outsourcing for Small Investors

Introduction Real estate investing is a promising avenue for building wealth and financial security, but it can also be a demanding and complex endeavor, especially for small investors with limited resources and time constraints. The responsibilities of property management, tenant […]

  • January 8, 2024
  • OHI
The Advantages of Accounting Outsourcing Services for Businesses

The Advantages of Accounting Outsourcing Services for Businesses

Introduction In today’s fast-paced business landscape, companies are constantly seeking innovative ways to streamline their operations, reduce costs, and enhance efficiency. One such solution that has gained tremendous traction in recent years is accounting outsourcing services. By entrusting their financial […]

  • January 5, 2024
  • OHI
Navigating Real Estate Accounting for Government Entities: A Comprehensive Guide

Navigating Real Estate Accounting for Government Entities: A Comprehensive Guide

Introduction: Construction is a multifaceted and often intricate industry that demands meticulous financial management to ensure projects are completed successfully, on time, and within budget. Effective construction accounting is the linchpin of this financial oversight, providing construction companies and contractors […]

  • January 3, 2024
  • OHI
The Comprehensive Benefits of Cloud-Based Accounting for Real Estate Firms

The Comprehensive Benefits of Cloud-Based Accounting for Real Estate Firms

IntroductionIn the ever-evolving landscape of the real estate industry, where properties are bought and sold, investments flourish, and financial decisions drive success, the role of efficient and adaptable accounting cannot be overemphasized. Traditional accounting systems have played their part in […]

  • December 26, 2023
  • OHI
Optimizing Rent Roll Analysis for Multi-Property Portfolios

Optimizing Rent Roll Analysis for Multi-Property Portfolios

IntroductionIn the world of real estate investment and management, rent roll analysis is a critical practice that provides valuable insights into the financial performance and potential of properties within a portfolio. While rent roll analysis is important for single properties, […]

  • December 25, 2023
  • OHI
Introduction: A Digital Revolution in Real Estate

Introduction: A Digital Revolution in Real Estate

Hey there! Ever wondered how the world of property management has transformed over the years? Let’s take a fascinating journey through the evolution of property management software, and I promise, it’s more intriguing than it sounds! The Early Days: Manual […]

  • December 23, 2023
  • OHI
The Role of Compliance Audits in Real Estate Accounting

The Role of Compliance Audits in Real Estate Accounting

Introduction: Navigating Real Estate ComplianceWelcome to the intricate world of real estate accounting, where meticulous attention to detail meets stringent regulatory standards. Today, we embark on an explorative journey into the vital role of compliance audits in this dynamic field. […]

  • December 22, 2023
  • OHI
The Role of FASB in Shaping Real Estate Accounting Standards

The Role of FASB in Shaping Real Estate Accounting Standards

Introduction: FASB’s Central Role in Real Estate AccountingIn the complex world of real estate accounting, the Financial Accounting Standards Board (FASB) stands as a pivotal institution. This independent body is responsible for setting the standards that govern how real estate […]

  • December 12, 2023
  • OHI
OUTSOURCING VS. IN-HOUSE ACCOUNTING: WHICH IS RIGHT FOR YOUR REAL ESTATE BUSINESS?

OUTSOURCING VS. IN-HOUSE ACCOUNTING: WHICH IS RIGHT FOR YOUR REAL ESTATE BUSINESS?

Accounting is the financial backbone of any real estate business. Proper management of finances, compliance with tax regulations, and accurate reporting are crucial for success in the industry. When it comes to handling accounting functions, real estate businesses have two […]

  • November 16, 2023
  • OHI
Real Estate Accounting for Short-Term Rentals and Vacation Properties: A Comprehensive Guide

Real Estate Accounting for Short-Term Rentals and Vacation Properties: A Comprehensive Guide

In the world of real estate, short-term rentals and vacation properties have become increasingly popular investments. However, managing the financial aspects of these properties can be complex and challenging. In this comprehensive guide, we will delve into the intricacies of […]

  • October 30, 2023
  • OHI
Implementing Efficient Accounting Systems for Property Management Firms

Implementing Efficient Accounting Systems for Property Management Firms

In the bustling realm of real estate, property management firms stand as the backbone, ensuring smooth operations, tenant satisfaction, and optimal financial management. Central to their success is an efficient accounting system. Without it, the vast financial intricacies these firms […]

  • October 21, 2023
  • OHI
A Comprehensive Exploration of Mortgage Accounting in Real Estate

A Comprehensive Exploration of Mortgage Accounting in Real Estate

Real estate investments often represent one of the most significant financial commitments individuals make in their lifetime. Whether you’re a first-time homebuyer stepping into the world of property ownership or a seasoned real estate investor, a comprehensive understanding of mortgage […]

  • October 3, 2023
  • OHI
Capital Expenditures vs. Repairs and Maintenance: A Simple Guide to Big Buys and Regular Fixes

Capital Expenditures vs. Repairs and Maintenance: A Simple Guide to Big Buys and Regular Fixes

Let’s imagine you have a car. Sometimes, you buy big things for it, like new tires. Other times, you just get oil changes or wash it. In the world of business, these two types of spending have special names: “Capital […]

  • September 27, 2023
  • OHI
Tenant Improvements and Leasehold Improvements: Breaking Down Costs and Payments in Simple Terms

Tenant Improvements and Leasehold Improvements: Breaking Down Costs and Payments in Simple Terms

When you rent a place, like a store or an office, you often want to make it feel more “you”. This might mean adding a fresh coat of paint, putting up new shelves, or even changing the lighting. These changes […]

  • September 22, 2023
  • OHI
Ethics in Real Estate Accounting: Understanding and Adhering to Ethical Standards and Practices

Ethics in Real Estate Accounting: Understanding and Adhering to Ethical Standards and Practices

In the multifaceted realm of real estate accounting, ethical considerations stand at the forefront. Real estate accountants, often seen as the financial sentinels, bear the weighty responsibility of ensuring that financial statements and records are not only accurate but also […]

  • September 14, 2023
  • OHI
Accounting for Foreclosures: Recognizing and Reporting Foreclosed Properties and Related Financial Activities

Accounting for Foreclosures: Recognizing and Reporting Foreclosed Properties and Related Financial Activities

Foreclosures, a term often associated with financial distress, are a significant aspect of the real estate and banking sectors. Properly accounting for and reporting these properties is crucial for transparency and accuracy in financial statements. This article delves deep into […]

  • September 5, 2023
  • OHI
The Role of Commercial Property Managers in Enhancing Asset Value

The Role of Commercial Property Managers in Enhancing Asset Value

The realm of commercial real estate is vast, multifaceted, and brimming with potential. Ensuring that a commercial property realizes this potential largely falls upon the shoulders of commercial property managers. Their strategic efforts and administrative acumen significantly influence the asset […]

  • August 17, 2023
  • OHI
The Evolution of Residential Property Management: An In-depth Accounting Perspective in Modern Real Estate

The Evolution of Residential Property Management: An In-depth Accounting Perspective in Modern Real Estate

In the vast tapestry of the real estate sector, numerous threads weave together to form its intricate design. One such vital thread is the evolution of residential property management companies. By delving deep into this evolution from a financial and […]

  • August 10, 2023
  • OHI
Strategies for Overcoming Accounting Challenges in Rapidly Growing Companies

Strategies for Overcoming Accounting Challenges in Rapidly Growing Companies

Every entrepreneur wants to see their business grow. However, rapid growth also brings along significant operational & accounting challenges for small business. If you’re not prepared, it can quickly strain your staff and resources. Below we’ve outlined the top accounting challenges of […]

  • March 17, 2023
  • OHI
Money-Wasting Business Accounting Mistakes You Must Avoid

Money-Wasting Business Accounting Mistakes You Must Avoid

Business accounting is largely considered the foundation on which the success or failure of an organization depends. Not only does it help companies classify, understand, record, and interpret their basic financial data, but it also equips them to find a […]

  • February 24, 2023
  • OHI
Top 7 Accounting Tips for Small Businesses

Top 7 Accounting Tips for Small Businesses

As the financial year draws to a close, it might seem too early to review your accounting system as a business owner. Should you start checking your books of accounts at the end of the financial year? The answer is […]

  • October 6, 2022
  • OHI
Year End Accounting Checklist: How to Close the Fiscal Year

Year End Accounting Checklist: How to Close the Fiscal Year

The conclusion of the final year is undoubtedly among the most crucial periods for the finance department. The preparation of end-of-year accounts, reports, statements, and financial reporting requires finance specialists to spend days digging into the books. To make things even more demanding, […]

  • September 7, 2022
  • OHI
Why Businesses Need to Understand Robotic Process Automation in Accounting

Why Businesses Need to Understand Robotic Process Automation in Accounting

In modern times, technology is advancing rapidly, making it crucial for every business to automate its processes. It is no different for the accounting domain, and to survive in this competitive world, companies must automate their accounting procedures. This is […]

  • July 28, 2022
  • OHI
How OHI Makes Remote Accounting Simple

How OHI Makes Remote Accounting Simple

Accounting is an important support function for any business. Traditionally, businesses have always had an accounting department, which ensures that the books are updated every month and that the company is in great fiscal shape. Technology is shifting this reality. […]

  • July 21, 2022
  • OHI
Top Accounting Activities That Can Be Readily Outsourced

Top Accounting Activities That Can Be Readily Outsourced

Accounting services are important for any company since failure to adhere to government regulations can attract severe penalties. However, if accounting is not your core business, you should avail of finance and accounting outsourcing companies. These firms are specialists and […]

  • June 6, 2022
  • OHI
How to Choose an Accountant (Provider) to Manage your Finances

How to Choose an Accountant (Provider) to Manage your Finances

Accountants are important in businesses large and small. Whether you use an accounting outsourcing service or hire an in-house accountant will depend on your business needs. But choosing the right accountant for your firm should be done with utmost care. […]

  • May 4, 2022
  • OHI
What is Cross Referencing in Accounting?

What is Cross Referencing in Accounting?

Real estate companies have to deal with hefty transactions and bills. As a result, accountants of real estate companies are always under pressure. Accounting errors can be quite costly for real estate organisations in the long run. This is why accountants […]

  • March 29, 2022
  • OHI
Proactive Accounting: Why is it Important for Your Business?

Proactive Accounting: Why is it Important for Your Business?

Accounting forms the backbone of business health. While many accountants work diligently to ensure that errors or blunders do not happen, many businesses still believe that their accountants work reactively rather than proactively. In fact, in a study conducted by […]

  • March 7, 2022
  • OHI
True Up in Accounting: What is It?

True Up in Accounting: What is It?

Financial statements should always provide the true value of financial and operational information. The definition of true up is to level, align, and balance something. When two or more accounts are matched or reconciled, the true up process is in […]

  • March 3, 2022
  • OHI
Best Accounting Outsourcing Companies in 2022

Best Accounting Outsourcing Companies in 2022

When it comes to running a business, Small and Medium Enterprises (SMEs) have to deal with a number of activities such as executing their core functions, dealing with clients, managing accounts, etc. However, all these can get taxing on the […]

  • February 21, 2022
  • admin@ohi
Guidelines to Successful Outsourcing of Accounting Processes

Guidelines to Successful Outsourcing of Accounting Processes

Outsourcing has been steadily becoming main-stream even in mid-size companies over last five years driven by the successful case studies in large organization, greater awareness, the explosion of cloud computing and falling costs of communication. This article aims to be […]

  • January 21, 2022
  • admin@ohi
Benefits of Client Accounting Services in 2022

Benefits of Client Accounting Services in 2022

Recently, technical improvements in the accounting sector have resulted in the introduction of the concept of CAS, or Client Accounting Services, which is quickly gaining popularity among consumers and is becoming increasingly popular. As a company flourishes and its growth […]

  • January 18, 2022
  • OHI
The Future of Outsourced Accounting Services: A Guide for 2022

The Future of Outsourced Accounting Services: A Guide for 2022

These days, technological advancements have seeped into the core of operations across all industries alike—and accountancy is no exception. The advent of new methodologies to carry out the functions of accounting as a service without being confined to traditional techniques […]

  • January 13, 2022
  • OHI
Why You Need to Backup Your Accounting Data

Why You Need to Backup Your Accounting Data

If accurate projections about future business growth based on your current performance are vital, creating a backup of your financial accounting data is even more critical. You might need the data to check financial transactions between your company and customers, […]

  • January 7, 2022
  • OHI
Steps to Choose a Perfect Accounting Outsourcing Service Provider

Steps to Choose a Perfect Accounting Outsourcing Service Provider

Outsourcing is a ‘one size fits all’ remedy that seems to help with cost-cutting initiatives in major corporations to small enterprises. It was the Fortune 500 Companies that first demonstrated that organizations could focus on customer service if they outsource […]

  • December 11, 2021
  • admin@ohi
How Has Technology Changed the Outsourced Accounting Industry?

How Has Technology Changed the Outsourced Accounting Industry?

Technology has revolutionized the outsourced accounting industry in so many ways that it is becoming increasingly difficult for accounting firms to stay up with all of the most recent trends and developments. A new set of skills must be created […]

  • November 19, 2021
  • OHI
Accounting for Fixed Assets: 5 Best Practices

Accounting for Fixed Assets: 5 Best Practices

The long-term tangible pieces of property are termed fixed assets. Every company/business type requires certain fixed assets to carry out their operations smoothly and generate income through them.  These may include plant, property, equipment, etc. These capital asset types play […]

  • October 8, 2021
  • OHI
Know About Zero Based Budgeting and Its Benefits to Your Business

Know About Zero Based Budgeting and Its Benefits to Your Business

Budget – The Key to Business Profitability is one of the essential parts of planning a business. Without budgeting, there is no control over the cash flow, and it cannot be known in which direction the business is moving. A […]

  • September 15, 2021
  • OHI
Virtual Accounting Services: How it Will Help Your Business

Virtual Accounting Services: How it Will Help Your Business

Did you know that 94% of the accountants have adopted cloud accounting? With the technological capabilities of industries advancing rapidly, the day is not far when virtual accounting services will overtake the traditional mode of doing this job. The surprising […]

  • September 13, 2021
  • OHI
Minimize the Possibility of Fraud by Outsourcing your Accounting Services!

Minimize the Possibility of Fraud by Outsourcing your Accounting Services!

Today’s business owners face great challenges in maintaining financial transparency and complying with government norms. Under such complex scenarios, it is advisable to switch to outsourcing services like auditing and accounting.  By outsourcing your accounting services to professionals in the […]

  • September 10, 2021
  • OHI
Best Practices to Improve Ecommerce Accounting

Best Practices to Improve Ecommerce Accounting

Every eCommerce business, whether it’s run through Amazon, BigCommerce, Etsy, or Shopify, needs a robust accounting system in place to handle the financial aspects. Ecommerce accounting is a business’s foundation, and a solid foundation is necessary to keep a business […]

  • September 8, 2021
  • OHI
How the Accountants Adapted to the Challenges Faced During Covid-19

How the Accountants Adapted to the Challenges Faced During Covid-19

In the ever-evolving landscape of business, organizations worldwide are confronting unprecedented challenges that have the potential to create profound impacts. The onset of the Covid-19 pandemic has been a testament to this, reshaping the very fabric of professional environments. For […]

  • September 3, 2021
  • OHI
Small Business Accounting: Closing of Books at the End of the Year?

Small Business Accounting: Closing of Books at the End of the Year?

Closing of books at the conclusion of each year is a traditional task, and an effective bookkeeping procedure simplifies the entire process. The closing process encompasses the year’s transactions and ensures an appropriate categorization.  Newly established businesses often encounter considerable […]

  • July 30, 2021
  • OHI
Benefits of Outsourcing Accounting Back-Office Operations

Benefits of Outsourcing Accounting Back-Office Operations

The global Coronavirus pandemic has adversely impacted businesses across multiple domains. It has changed the definition of normal, and a new normal has taken over, forcing people and businesses to sustain accordingly. The nationwide shutdowns impacted a majority of industries […]

  • July 28, 2021
  • OHI
Helpful Tips for Real Estate Agents Who Need Professional Accounting Help

Helpful Tips for Real Estate Agents Who Need Professional Accounting Help

As a real estate agent, your goal is to help connect as many buyers and sellers of properties as you can to maximize your revenues. If you thought closing a sale was where your job ended, you are on the […]

  • July 21, 2021
  • OHI
Top Accounting Mistakes in Real Estate Industry [Infographic]

Top Accounting Mistakes in Real Estate Industry [Infographic]

Real estate accounting is the backbone of the real estate industry. Real estate entities need to fully understand their current financial accounting, regulatory and compliance reporting requirements. This level of awareness helps in reducing the inherent risks of various transactions […]

  • October 15, 2020
  • admin@ohi
Cloud Based Tools Facilitating Outsourcing [Infographic]

Cloud Based Tools Facilitating Outsourcing [Infographic]

Information technology has undeniably changed the way in which firms simplify their processes and expand their business vision. The outsourcing companies are continually expanding their horizons to give the best of the service efficiently to their customers. For example, in […]

  • September 17, 2020
  • admin@ohi
5 Steps to Successful Real Estate Accounting and Bookkeeping for Investing Startups

5 Steps to Successful Real Estate Accounting and Bookkeeping for Investing Startups

As a real estate manager, you are already aware of the altering aspects of the industry, which makes accounting a tedious task. Especially in this sector, you need to keep track of the myriad of state and national regulations and […]

  • September 8, 2020
  • admin@ohi
In-house Accountant VS Outsourced Accounting – The Better Option?

In-house Accountant VS Outsourced Accounting – The Better Option?

If you want to be a successful business owner, then you need to take care of more than just your market share. You must have details of all the accounting transactions in your business depending on the industry you belong […]

  • August 13, 2020
  • admin@ohi
The Role of an Outsourced Accounting Service Provider during COVID-19

The Role of an Outsourced Accounting Service Provider during COVID-19

The global pandemic, COVID-19, has impacted companies of every size as they are trying their level best to contend with economic and health challenges. Companies across the globe are operating as remote firms, working virtually from their homes, in an […]

  • July 31, 2020
  • admin@ohi
How Bank Reconciliation Works and Why It Is Important

How Bank Reconciliation Works and Why It Is Important

Reconciliation of your business bank account implies that you are comparing your internal financial records against the records supplied to you by your bank. A monthly bank reconciliation enables you to identify any suspicious transactions that could potentially be fraud […]

  • July 29, 2020
  • admin@ohi
Best Accounting Practices for Property Management Firms [Infographic]

Best Accounting Practices for Property Management Firms [Infographic]

Accounting itself seems a bit complex situation to handle for many businessmen. And when it comes to property management accounting, the property managers have to take care of land, rents, invoices etc. in a meticulous manner which makes it quite […]

  • July 9, 2020
  • admin@ohi
All You Need to Know About Choosing the Right Real Estate Accounting System

All You Need to Know About Choosing the Right Real Estate Accounting System

Property management, in simple terms, involves the administration, supervision, and maintenance of various residential and commercial properties with the primary aim to generate income and enhance value. Be it premium apartments, condominium units, shopping centers, or rental houses – property […]

  • June 18, 2020
  • admin@ohi
Your Guide to Making the Move to Cloud Accounting

Your Guide to Making the Move to Cloud Accounting

The recent Covid-19 pandemic has set forth a new trend for corporates and enterprises – working from home. With lockdown and social distancing rules being practiced everywhere, adopting cloud accounting solutions for your business is the wisest move you can […]

  • May 27, 2020
  • admin@ohi
Benefits of Outsource Accounting Services During the Coronavirus Outbreak

Benefits of Outsource Accounting Services During the Coronavirus Outbreak

The Coronavirus pandemic has taken a heavy toll on the regular operation of almost every sector. Businesses have been adversely hit, leading to a shortage of staff and equipment, disrupted cash flow, and other anomalies. It is getting laborious for […]

  • May 21, 2020
  • admin@ohi
Everything You Need to Know Before Choosing QuickBooks Online or Desktop

Everything You Need to Know Before Choosing QuickBooks Online or Desktop

QuickBooks is a best-selling suite of programs by Intuit, designed exclusively to rationalize complex financial operations that include budgeting, expense tracking, payroll, inventory, and sales. The software caters to all the financial needs of a small business firm. Some of […]

  • April 29, 2020
  • admin@ohi
The Role of a Bank Reconciliation Statement in Safeguarding Your Business

The Role of a Bank Reconciliation Statement in Safeguarding Your Business

To be a successful business person, you can’t just focus on providing quality products and services to your existing customers, you also need to keep an eye on your finances. There has to be proper checks on all financial transactions […]

  • April 27, 2020
  • admin@ohi
The 8 Most Common Small Business Accounting Mistakes

The 8 Most Common Small Business Accounting Mistakes

Small business accounting is an organized process which helps in keeping track of the financial activities of a company. Bookkeeping, on the other hand, is a systematic process of keeping a record of every single company transaction. Both the processes […]

  • April 23, 2020
  • admin@ohi
Managing Your Accounting Operations During The COVID 19 Pandemic

Managing Your Accounting Operations During The COVID 19 Pandemic

The COVID 19 pandemic has hit the world just at the advent of a new financial year. The economy, on the whole, has been majorly affected due to this global mishap. However, our spirits are high, and humanity will bounce […]

  • April 21, 2020
  • admin@ohi
Bank Reconciliation Process: A Step-by-Step Guide [Infographic]

Bank Reconciliation Process: A Step-by-Step Guide [Infographic]

A bank reconciliation process is whereby you compare your business sales and expenses records against your bank’s records. The process verifies your accounting numbers, ensuring the balance on your books reflects those shown on your bank statement. Businesses ought to […]

  • January 31, 2020
  • admin@ohi
5 Key Accounting Trends to know for 2020

5 Key Accounting Trends to know for 2020

According to a report by Sage released recently, 67% of the accountants believe that their profession is now more competitive when compared to past years. 83% say that their clientele today has higher expectations from them if we compare to […]

  • January 15, 2020
  • admin@ohi
Bank Reconciliations – Best Practices to Follow

Bank Reconciliations – Best Practices to Follow

The article focuses on the four aspects of bank reconciliations to help understand the best practices that should be adopted in all organizations. It is imperative that bank reconciliations be a part of your accounting practices. Businesses can follow these […]

  • January 8, 2020
  • admin@ohi
5 Key Parameters to Help You Choose an Accounting Outsourcing Firm

5 Key Parameters to Help You Choose an Accounting Outsourcing Firm

One aspect of your business that you can’t afford to neglect is accounting. Fortunately, with the advent of technology and the rise of virtual accounting services, you now have a way to streamline your financial operations and enjoy several benefits.  […]

  • September 20, 2019
  • admin@ohi
Impact of Technology on Finance & Accounting

Impact of Technology on Finance & Accounting

For nearly ten years now, technology has been developing at a rapid speed. New devices, apps, and games have been developed, and social media is now used by the world’s businesses and or brands to promote products and to target […]

  • August 29, 2019
  • admin@ohi
7 Strategic Accounting Tips for the Success of Your Startup

7 Strategic Accounting Tips for the Success of Your Startup

Congratulations on starting your startup! Not all great ideas see the light of day, but your dream has turned into a reality. You have the product, the human resources and the marketing skills to ensure that your company takes the […]

  • July 31, 2019
  • admin@ohi
Choosing an Entity Management System

Choosing an Entity Management System

Using an entity management practices for your business can help you maintain efficiency and seamlessly run your day-to-day business workings. And you can focus more on other important business consideration when you don’t have to worry over minor everyday details. […]

  • May 14, 2019
  • admin@ohi
Best Strategic Entity Management Practices for Your Company

Best Strategic Entity Management Practices for Your Company

With the tremendous growth of the business structures, the management of these different businesses effectively has also become very complicated. Many corporations create separate entities. In order to achieve business goals, risk management of assets and regular regulatory compliance. The […]

  • April 25, 2019
  • admin@ohi
Finance & Accounting – Profit from Outsourced Accounting Services

Finance & Accounting – Profit from Outsourced Accounting Services

To achieve success in business, we have to not only ensure that our existing customers are retained but also make concerted efforts to expand our horizons to acquire new customers. The bottom line for every business is profits, and we […]

  • April 22, 2019
  • admin@ohi
The New Revenue Recognition Standard

The New Revenue Recognition Standard

For almost all entities barring a few like financial institutions, revenue is the largest single figure in the financial statements. The figure ascertains an entity’s financial performance and position. While it might be accepted that profit is generally considered the […]

  • April 10, 2019
  • admin@ohi
The Pros and Cons of Outsourcing Accounting Functions

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 […]

  • March 12, 2019
  • admin@ohi
Restaurant Accounting: How It’s Different!

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 […]

  • March 7, 2019
  • admin@ohi
Budget – The Key to Business Profitability

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 […]

  • March 5, 2019
  • admin@ohi
Cost of Accounting Outsourcing Service for Small Businesses

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 […]

  • January 7, 2019
  • admin@ohi
Forecasting: Introduction and Benefits

Forecasting: Introduction and Benefits

What Is Forecasting? Forecasting is the practice of using several statistical and accounting methods and techniques to predict the future of various aspects of the company like production, revenue generation, sales and selling price to name a few. This planning […]

  • November 26, 2018
  • admin@ohi
Accrual Accounting- The Perfect Way of Managing Multifamily Accounting

Accrual Accounting- The Perfect Way of Managing Multifamily Accounting

A businesses accounting method certainly impacts its investment strategy. The right accounting strategy can benefit the business greatly by helping to depict the actual financial condition of the company. Which in turn aids in making insightful business decisions with clearly-devised […]

  • September 27, 2018
  • admin@ohi
All You Need to Know About Progress Billing

All You Need to Know About Progress Billing

Progress Billing is considered to be one of the most frequently used invoicing methods for long-term contracts. Normally speaking, while making contracts there are always some upfront payments involved, somewhere around 50% of the total project, and the rest paid […]

  • September 18, 2018
  • admin@ohi
How Much Should You Be Paying for Accounting Each Month?

How Much Should You Be Paying for Accounting Each Month?

The process of accounting forms the thrust of every business functioning and is perhaps considered one of the most important finance-related administrative work that a management undertakes. Talking specifically about small and medium businesses, the accounting needs for such businesses […]

  • September 7, 2018
  • admin@ohi
Pros and Cons of Outsourcing Accounting [Infographic]

Pros and Cons of Outsourcing Accounting [Infographic]

According to recent statistics, 37% of businesses spend more than USD 5,000 for the administration of finances and 33% of these firms devote more than 81 hours on finances every year. Whether you run a real estate business, textile firm, […]

  • September 5, 2018
  • admin@ohi
Top Accounting Challenges Small Businesses Face

Top Accounting Challenges Small Businesses Face

Being a small business owner isn’t easy. You have to manage everything on your own. From marketing to customer relationship and things such as accounting, management etc. A business depends a lot on its finances, and you can’t manage finances […]

  • July 20, 2018
  • admin@ohi
Accounting Outsourcing Predictions for 2018 and Beyond

Accounting Outsourcing Predictions for 2018 and Beyond

Accounting outsourcing is a trend that is on the verge of seeing a great transition. With available resources and advancement in technology, this sector will experience high demand in coming years. The outsourcing industry has seen a rise from 76.9 […]

  • July 17, 2018
  • admin@ohi
Preparing for the New Lease Accounting Standard

Preparing for the New Lease Accounting Standard

The Financial Accounting Standards Board and the International Accounting Standards Board issued new accounting standards in 2016. The new standards that are set to take effect in January 2019 redefine how organizations will recognize lease liabilities and assets on balance […]

  • July 6, 2018
  • admin@ohi
Finance and Accounting Outsourcing: 5 Motivations Beyond Cost Cutting and Delivery

Finance and Accounting Outsourcing: 5 Motivations Beyond Cost Cutting and Delivery

The business process outsourcing (BPO) industry came into existence by the end of the last century, but adoption picked up pace around a decade later with the explosion of the internet globally pushing its progress. The first generation of BPO’s […]

  • June 19, 2018
  • admin@ohi
Accounting Tasks That Should be Done on a Weekly Basis

Accounting Tasks That Should be Done on a Weekly Basis

Managing the accounting activities of your business seems a tiresome task but it is still an important one. You can’t turn a blind eye to your financial activities as these are required to run your business efficiently. However, we not […]

  • May 22, 2018
  • admin@ohi
Accounting Outsourcing Trends for 2018

Accounting Outsourcing Trends for 2018

Reducing the cost of operations and acquiring better talent at the same time is the aim of every company. Outsourcing has garnered fame precisely for this reason. It gives companies access to cheaper but more talented workforce. However, the accounting […]

  • April 30, 2018
  • admin@ohi
Simplify Your Accounting Processes by Outsourcing

Simplify Your Accounting Processes by Outsourcing

Accounting is one of the most outsourced business functions, especially among start-ups. Businesses outsource accounting functions with the aim of getting accurate and well-formatted financial reporting at the least effort and cost possible. Outsourcing accounting processes entail hiring an independent […]

  • April 27, 2018
  • admin@ohi
Understanding Accounting Outsourcing Services: A Simple User Guide

Understanding Accounting Outsourcing Services: A Simple User Guide

Many businesses, organizations and startups find it hard to manage their accounting such as preparing financial statements, analyzing data, preparing invoices and managing bank accounts. Even after hiring a dedicated professional, various factors come in the way of efficient execution. […]

  • April 24, 2018
  • admin@ohi
Tips and Tricks to Make Your Accounting Less Stressful

Tips and Tricks to Make Your Accounting Less Stressful

Accounting for real estate business is altogether different than accounting for any other business because it requires complicated entries in the accounting ledgers. It is simply not a convolution of credit and debit transactions but perhaps more than that. In […]

  • April 13, 2018
  • admin@ohi
Should Real Estate Firms Outsource Their Accounting

Should Real Estate Firms Outsource Their Accounting

Real Estate Accounting embraces or covers the accounting rules for any kind of real estate transactions that can be used to structure real estate deals appropriately. Real estate firms need to fully understand their current financial accounting, regulatory and compliance […]

  • April 2, 2018
  • admin@ohi
Things your Accounting Practice Should Consider when Moving to Cloud

Things your Accounting Practice Should Consider when Moving to Cloud

The conventional approaches to using commercial financial reporting can be unreliable in terms of security. Multiple copies of the same file can be expensive to store and can interfere with backup systems. This is when people started looking for alternatives […]

  • February 16, 2018
  • admin@ohi
Xero Review 2018- Small Business Accounting Software

Xero Review 2018- Small Business Accounting Software

Xero has been awarded by Forbes twice as “World’s Most Innovative Growth Company” in 2014 and 2015. Currently, about 1 Million users choose Xero for their small business accounting. Xero is built on a double-entry framework, to let you track […]

  • February 6, 2018
  • admin@ohi
Choosing an Accounting Outsourcing Partner – A Checklist for UK Accounting Firms

Choosing an Accounting Outsourcing Partner – A Checklist for UK Accounting Firms

Accounting outsourcing has emerged as one of the most rapidly growing outsourcing sectors with cost reduction as its main driver. However, finding an outsourcing partner who really understands the needs of your accounting firm and allows you to have a […]

  • January 31, 2018
  • admin@ohi
Best Accounting Practices for a Real Estate Company

Best Accounting Practices for a Real Estate Company

Accounting practices can be defined as financial activities of organizations or companies recorded on a daily basis. In case of real estate firm, real estate accounting practices involve the implementation of accounting policies concerned with a real estate firm involving […]

  • January 9, 2018
  • admin@ohi
Data Security Measures in an Outsourced Accounting Process

Data Security Measures in an Outsourced Accounting Process

Every outsourcing arrangement should be equipped with technology that ensures data security to maintain confidentiality of client information and other details. Thorough standardized procedures that are enforced to regulate data security within the enterprise can transform any business. Securing the […]

  • March 8, 2017
  • admin@ohi
Benefits of Accounting Outsourcing – An Overview

Benefits of Accounting Outsourcing – An Overview

Specialization has become the norm of the present times. These days when it comes to the challenging business environment, specialization not only leads to effective functioning of the business but also cuts down on costs. This is the reason why […]

  • March 3, 2017
  • admin@ohi
Accounting Outsourcing for Ecommerce Firms

Accounting Outsourcing for Ecommerce Firms

The e-commerce industry has transformed the competition when it comes to growth. Today, more and more consumers are moving online as they are now gaining access to levels of ease and transparency far ahead of what long-established retail set-ups can […]

  • February 20, 2017
  • admin@ohi
Accounting Outsourcing for Startups

Accounting Outsourcing for Startups

Early days in a new business are difficult. In order to succeed and grow the business it is important that the primary as well as the supporting activities of business is taken good care of. There are numeral piece that […]

  • January 27, 2017
  • admin@ohi
Small Business Accounting Outsourcing – An Inexpensive way to Grow!

Small Business Accounting Outsourcing – An Inexpensive way to Grow!

Accounting is an indispensable part of running a business.  For a successful business it is imperative to follow basic accounting practices. A proper accounting system is necessary because the details may be required for legal purpose, to file tax returns […]

  • January 24, 2017
  • admin@ohi
Common Finance and Accounting Processes being Outsourced

Common Finance and Accounting Processes being Outsourced

Finance and accounting is one of the back-office processes that companies outsource, and the practice continues to thrive.  As the market is growing, firms are discovering new ideas and looking for new answers to simplify F&A processes. Companies are trying […]

  • January 18, 2017
  • admin@ohi
Tips for a Faster, Better Month End Close

Tips for a Faster, Better Month End Close

Survey results done by a leading software firm: A mere 28% of the respondents trust the numbers reported in the month-end close 90% of the respondents are under pressure to close faster About 39% of the respondents are satisfied with […]

  • November 22, 2016
  • admin@ohi
Online Accounting Services

Online Accounting Services

The rapidly evolving online accounting systems have now given business owners the freedom and the flexibility to choose how they manage their finances. Administrative functions can be viewed and performed on the go today contributing to the efficiency of transactions. […]

  • May 13, 2015
  • admin@ohi
Why Should One Outsource the Accounts Management Processes of a Business

Why Should One Outsource the Accounts Management Processes of a Business

Well, for one reason that it means one less thing to bother about for the business! Not having to keep track of all the transactions – be it small or big – keeping the books updated is one hell of […]

  • December 26, 2014
  • admin@ohi

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