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Cloud-based Accounting –The ‘Next Gen’ Accounting Solution for small and medium sized businesses

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Cloud-based accounting is similar to traditional, on-premises, or self-install accounting systems, with only the accounting software hosted on remote servers, similar to the SaaS (Software as a Service) business model. In cloud computing, users access software applications remotely through the internet or other network via a cloud application service provider. Cloud-based accounting solution frees the business from having to install and maintain software on individual desktop computers. It also allows employees in other departments, whether in remote or branch offices, to access the same data and the same version of the software. Continue reading Cloud-based Accounting –The ‘Next Gen’ Accounting Solution for small and medium sized businesses

 

Outsourcing Healthcare Accounting Services: A Necessity or Choice?

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Healthcare payers are in the midst of unprecedented transformation as rising healthcare costs, changing patient demographics, stringent regulations, and empowered consumers push for a smarter and more efficient healthcare system for tomorrow. However, the biggest concern for the healthcare providers is mismanagement followed by ineffective cash collection practices at physician offices and other smaller hospitals. The physician groups and individual medical practitioners have traditionally been focused on patient billing and have been unable to implement effective financial controls across their revenue cycle leading to revenue leakages.

Continue reading Outsourcing Healthcare Accounting Services: A Necessity or Choice?

 

How SMBs Can Improve Their Balance Sheet

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A balance sheet is like a thermometer for SMB owners that provides a reading on the health of their business and ignoring it can be fatal to a business as it records all the assets, debts and shows the ‘net worth’ of the business at any given time. A company’s balance sheet gives a quick sense of the business’s health and liquidity as well as its ability to generate cash flow but it is only when the balance sheet is healthy.

So the question is, what should an SMB owner do to improve their balance sheet and make it a healthy one?

In this blog, we will highlight three helpful tips for SMBs to improve their balance sheet

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Top 3 Common Payroll Compliance Errors made by SMBs

Payroll-Compliance

SMB owners are often so focused on growing their business that they neglect an important issue – payroll compliance. From payroll and benefits to hiring processes, employee relations and risk and safety, SMBs must adhere to regulations or else run the risk of being penalized. According to the Department of Labor, a massive 80% of employers have some degree of non-compliance with wage-hour laws and the wage and hour division collected more than $266 million in back wages for more than 280,000 employees in 2016

In this blog, we will highlight the top 3 common payroll compliance errors made by SMBs

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Top Financial Issues SMBs Continue to Face and How to Fix Them

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Countless unexpected issues can pop up for SMB owners that create seemingly overwhelming challenges – many of them financial in origin. The most common issues faced by SMBs are: maintaining a positive cash flow, not getting accurate reconciliation reports on a monthly basis, and securing funding for the company’s growth. Fortunately, SMBs can easily manage these issues through with a solid financial process and reporting.

In this blog, we’ll talk about the 3 biggest financial issues that SMBs face, as well as tips to help them manage these issues.

 

Continue reading Top Financial Issues SMBs Continue to Face and How to Fix Them