Month Close Series-Tax Payments

Tax payments to Government are a major part of a business. Like any other general ledger the tax payable accounts have to be reviewed and reconciled every month. In the fourth part of the month close series, we shall look at how to prepare the books to make tax payments. Taxes paid by a business […]

Month Close Series-Expense Reimbursements

Expense reimbursements are always considered a challenge due to the importance attached. Reimbursing employees requires accounting teams to sift through piles of receipts, audit them and approve the expense reports. If the volume of reimbursements are high, the process is prone to becoming inefficient. Another problem will be delays in payments, this is can result […]

Using Accounting Workflow to Increase Efficiency

What to Look for in the Monthly Financial Statements

  Every Finance Controller is faced with the tough task of making the accounting function efficient. An efficient accounting team meets deadlines and works efficiently with other teams. If you find yourself putting out fires every day, working without a plan, missing deadlines, despite long hours. This is clear case of your accounting function not […]

Outsourced Accounting-How can it help you?

Every business owner faces the challenge of managing finances on his own. Handling money and operations becomes a daunting task. This takes away valuable time and head space of an entrepreneur. Outsourced accounting will ease the burden on founders. In this blog, we will explore how outsourced accounting can help you. What is Outsourced Accounting? […]

Month Close Series-Reviewing Accounts Receivable

Accounts Receivable (AR)  is the money owed to your business by customers. In the third part of the month close series, we will look at the relevance of AR. The month end close process involves recording, reconciling, and reviewing all business transactions and finalizing the account data for the month. Reviewing Accounts Receivable is an […]

Month Close Series-Banking Transactions

In the second part of the month close series, we will look at the relevance of banking transactions. A month close process involves recording vendor bills, raising invoices, counting inventory & reconciling general ledgers. An account which needs to be reconciled is your bank account. We have covered the need for doing bank reconciliation in […]

Month Close Series-Streamlining Accounts Payable

Every accountant is familiar with the pressures that accompanies the month end close. Every finance controller or CFO is required to ensure that all accounts are reconciled and all the number add up. Month close is crucial to ensure that information is provided to decision makers and investors. Closing the books every month requires accounting […]

The most frequent problems that business owners face are to do with accounting & regulatory compliance. Entrepreneurs view time invested in doing both as unproductive time.

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