Category Archives: blog

FASB’s New Standard Aims to Improve Nonprofits Financial Reporting

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After more than three years of debate and revision, the 20-year old reporting model for nonprofits is being replaced with a new and improved Accounting Standards Update (ASU). ASU 2016-14 presentation of financial statements of not-for-profit entities calls for big changes in the way not-for-profits report financials. It will change the way all nonprofits classify net assets and prepare financial statements.
FASB (Financial Accounting Standards Board) believes that this update will improve the financial statements of nonprofits and will provide more useful information to donors, creditors, grantors and other financial statement users.

This article lists the top 3 changes in nonprofits financial reporting that will be effective for fiscal years beginning after December 15, 2017 and for interim periods within fiscal years beginning after December 15, 2018.

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Why is Outsourcing Accounting Aspect Important for Your Business?

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Outsourcing accounts payable services not only bring effectiveness but also help in optimizing working capital. With the help of a good outsourcing company your business can enable long-term supplier management and can help you organize maximum profits in changing the economy.

Accounts Payable is becoming increasingly relevant in every business. Within the most outsourced finance and accounting aspects, accounts payable is at the top of the list. By outsourcing accounts payable, you can improve overall business performance. Through more visibility and control over various aspects of accounts payable process, you can control every other of the business department in a much better form. The accounts payable process is a way of paying back the money that the company owns to different clients. Since accounting needs technical knowledge and skills to make sure everything in the accounting department runs smoothly.

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Improves Business Value for Mid Market Clients through Innovative Cloud Based Platforms & Next-Gen Analytics Solutions

Atlanta, GAAugust 24, 2016 – A market leader in providing platform based business services to mid-market clients, has been redefining the ‘Product-Price-Performance’ equation for hundreds and thousands of mid market businesses across the United States by leveraging technology as a key enabler for driving business profitability across its clients’ businesses. This has helped Quatrro to enhance operational efficiencies for existing clients and enabled addition of several new clients across diverse industry verticals.

Cloud based technology platforms and SMAC (Social, Mobile, Analytics and Cloud) have emerged as a disruptive force in the Global Outsourcing industry off late and the trend is expected to continue in the foreseeable future. According to Gartner, the worldwide market for public cloud services will be worth $204 billion in 2016 – a year-on-year growth rate of 16.5 percent.

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Get The Best Out Of Your Restaurant By Outsourcing Accounting Services

The idea of running a restaurant is a risky business. There can be various aspects that need to be handled in the accounting sector business, which can benefit your entire outcome for a long time. Hiring an experienced restaurant accounting services has its own advantages.

In today’s world, there is a high competition among everyone from the business point of view. Restaurant operators today look for the most cost-effective solution that can improve the entire business output. One of the major concerns that is left in a restaurant owner’s mind is an effective and efficient accounting solution. Restaurants comprise of one such entity that can either dramatically fail or taste extreme success in business. For every restaurant owner, there are certain aspects of restaurant accounting that should be taken care of, for ensuring a successful business. Here are the 4 factors to consider for a good restaurant accounting:

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Four bookkeeping tasks SMB’s should outsource

SMB owners need to wear different hats each day as they juggle with varied responsibilities of their business. As a result, time remains extremely precious for them. In order to maximize the efficiency of their business, SMB owners must focus on the strategic parts of their business such as customer service, and raising capital and take the help of trusted service providers that offers tailored end to end bookkeeping and payroll services. A comprehensive industry specific bookkeeping solution such as Grocery store bookkeeping solution, restaurant bookkeeping solution, retail store accounting solution, hotel accounting solution and healthcare accounting solution offered by outsourcing firms enables SMB owners such as Grocers, restaurant operators, hotel/motel owners to analyze the expenditures and revenue generated by their business over a specific period of time. This granular visibility into their financials enables SMB owners to reduce inefficiencies and improve profitability of their business. Additionally, outsourcing the accounting tasks also simplifies the process of maintaining up-to-date financials that can be cross-checked with the budget to ensure that the business is not overspending. It also helps in identifying the instances of under-spending enabling the SMB owners to reduce inefficiencies and enhance productivity.

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