There’s a lot of automation with AI now. You can download your bank transactions, your credit card transactions automatically goes into your accounting software. You still need to review it. I just had an issue the other day where, through AI, a payment of a loan went to inventory asset. So you still need to...
Choosing the right outsourced bookkeeping service for your business really is, you know that best, you know what your needs are. When I have somebody call me blindly wanting us to do bookkeeping services for them, I ask them, well, how many credit cards do you have? How many bank accounts are you using? A...
You can find compliance training programs through various sources, depending on the specific areas of compliance your business needs to cover. Below are some common platforms and providers where you can access compliance training: Online Learning Platforms Many general online platforms offer customizable compliance training programs for businesses in various industries. These platforms...
By Kathryn Mayer When Chelsey Gonzalez, SHRM-CP, vice president of HR at software company Acklen Avenue in Nashville, asked conference attendees what challenges working parents face, arms shot up with answers during her session at SHRM INCLUSION 2024 outside Denver. Not having enough time off work to take care of their kids—and themselves—when they...
We’re a CPAs best friend. Why? Because CPAs don’t want to deal with all the minutia that goes on with a business with all the receipts and the reconciling and, oh my gosh, they charged this item back in February. What was it for? I don’t know. You haven’t even entered your credit card receipts....
Can outsourcing help with tax preparation and planning? Oh, that is, you know, that old shoebox adage of having receipts. You wait till the end of the year. It’s really too late to have planned what you’re going to be doing for taxes. You find out at the end of the year after we’ve gone...
Ensuring that your business is in compliance involves a systematic approach to understanding and meeting the legal, regulatory, and ethical requirements that apply to your operations. Here’s how you can evaluate whether your business is compliant: Conduct a Compliance Audit A compliance audit is a thorough review of your business operations, policies, and...
By Kathryn Mayer Employees will be able to put more money into their 401(k)s next year. Starting in 2025, employees can contribute up to $23,500 into their 401(k) and 403(b) plans, most 457 plans, and the Thrift Savings Plan for federal employees, the IRS announced Nov. 1. That’s a $500 jump from the $23,000...
An organization requires to get financial statements when they need them. So when you work with an outsourced bookkeeping service, you set the parameters. You say, I would like to see my financials on a monthly basis. I have a client who wants to see her financials weekly. She’s sophisticated enough to be able to...
Levels of expertise in outsourced bookkeeping services can vary just like they can vary when you hire someone. You can have a basic service who will do basic data entry, maybe not be able to analyze or prepare financial statements. They may just do the data entry that then gets turned over to an accountant...
Copyright by People First INC. All rights reserved. 2022
2022 Copyright by People First Inc. All rights reserved.
