Technology, Agility, Accountability and the Other Challenges Facing Accountants Today

Technology, Agility, Accountability and the Other Challenges Facing Accountants Today

For Accountants
Role of accountants in the pastAccountants like ourselves are in a different position than where we were about ten years ago. Back then, we worked within the confines of our own world that was full of numbers.We calculated figures, made financial forecasts, checked the incoming revenues versus outgoing expenditures, and overall, we had to be sure that the company’s bottom line was safe.It was our job to tell our bosses and managers that this department was making money, or that the company overall had to cut down on unnecessary costs if it was to enter a healthy fiscal year.And then back we went to our respective cubicles, jotting down figures and numbers, and keeping the company’s most confidential data under tight lock and key, in a manner of speaking.Role of…
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Oojeema: The Headache-free Accounting

Oojeema: The Headache-free Accounting

For Accountants, For SMEs
Bookkeeping is never an easy task. There are several chores you have to accomplish mostly on a daily basis. There’s the billing for goods, recording receipts from customers, verifying invoices, and many others. Whether you are a private practitioner or a part of an accounting firm, the process of recording and tracking financial records for your client is indeed a feat. The problem with manual accounting Keeping track of the company’s finances through the traditional ledgers or the semi-modern spreadsheets has been the practice of many businesses. While this practice can do the job alright, it has several downsides. Below are some examples. Lost documents. No matter how meticulous we are in keeping receipts, invoices, and other necessary documents, there comes an unfortunate time when at least one of these…
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How to Get Bookkeeping Clients Quickly: 3 secrets for accountants

How to Get Bookkeeping Clients Quickly: 3 secrets for accountants

For Accountants
It’s beautiful weather as spring rolls in to lighten everyone’s mood. People try cheerfully going about their day. But something is nagging their minds about what they have to do. It’s something that they can’t postpone any longer. This time of year can, of course, only mean one thing. Tax time! So this means big business for accountants, right? Not necessarily. You may think accountants would have a field day getting clients left and right. But that’s not always the case. There are so many capable accountants and bookkeepers out there that you must know how to get bookkeeping clients in order to get ahead in this game. How to get accounting clients Always Ask Everyone for Referrals Too often people are shy about getting referrals. This should not be the…
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Technology and Accounting: Keep Up or Keep Out

Technology and Accounting: Keep Up or Keep Out

For Accountants
Technology and accounting are two inseparable concepts in bookkeeping. So if you’re into bookkeeping or accounting, then you will need to learn IT and all the technology that goes with your profession. In fact, if you want to progress in your career, you have to think beyond the confines of the traditional ledger and bean counter and be an IT-savvy partner who keeps both your superiors and your colleagues always updated on their numbers. You do this by accessing several databases, doing lightning-speed calculations, and coming up with graphs, maps, and charts that explain your numbers. You do all these using the accounting software tech that has completely revolutionized your industry and changed the rules of your profession. Why you need to keep up with technology You need to come…
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Are you the perfect fit for a small business accountant?

Are you the perfect fit for a small business accountant?

For Accountants
Do you have what SMEs look for in an accountant?  Congratulations, if your answer is yes. But, if you feel that you still need to work up on certain attributes to be a small business accountant, you can begin by examining what financial skills SMEs demand. Most businesses generally need an accountant who is professionally competent, trustworthy, and ethical. Over and above these attributes, you need to possess specific qualifications that suit the nature of SMEs in particular. ACCA Global, a professional accounting body which members span across the globe, identified what small businesses require in accountants.  To make sure you can match their requirements, you can check out the list of attributes provided to meet each of their demands. SMEs expect that accountants assist business owners or managers in…
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Review of the Best Accounting Software in the Philippines

Review of the Best Accounting Software in the Philippines

For Accountants, For SMEs
What makes the best accounting software?Choosing the best accounting software that creates business solutions and yet is affordable and easy to use is the key to a successful business enterprise. The best Philippine Accounting Software is easy to understand and apply for a small business accounting system that delivers "automated entries, invoicing, bill payments, expenses reports, financial reports, and reconciliations, not to mention performing advanced tasks, built-in financial reports and data syncing with the point of sale systems and bank accounts." It makes business transactions convenient and time- and cost-saving. An accounting system software provides:reporting and analytics that are easy for owners, managers or investors to understand in coming up with best options in making business decisions or in forecasting business directionsgeneral accounting feature that involves accounts receivable, accounts payable,…
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How Technology Has Changed Local Accounting

How Technology Has Changed Local Accounting

For Accountants
These days technology plays a part in even our simplest tasks, be it being woken up by an alarm, paying bills online or even just talking to someone. So, it is not surprising that technology plays a significant role in the way we do business, including the local accounting practice. With technology comes change, and there has been a noticeably big difference in the way balancing books and verifying ledgers are being done in today’s day and age. With the emergence of different software systems to support various accounting tasks, from filing invoices, making sure balances are in check, payroll, preparing sales forecasts, internal auditing, and government tax filing, it has clearly become easier for accountants to complete their jobs with accuracy and efficiency.Technology and local accountingData collection, sales reports,…
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Free Accounting Software: Which is Best for You

Free Accounting Software: Which is Best for You

For Accountants, For SMEs
A lot goes into setting up a new business, and this can be pretty overwhelming, especially for someone who is going into this for the first time. Where to start?  How to begin?  Among the many things that need to be carefully planned is how to effectively utilize the startup money. There is certainly no room for error in this area, and it is important to stretch the budget as much as one can.  So it is crucial to know which ones you need to spend on and which ones you can afford to scrimp on without compromising the quality. If there are things you can get for free, take it.  These days there are many available resources that you can get at no cost at all, a free accounting…
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5 Simple Steps that will Increase Business Productivity

5 Simple Steps that will Increase Business Productivity

For Accountants, For SMEs
Let’s face it.  In today’s ever-changing environment, ever-growing consumer demands and expectations, and technological advances, competition in business is fierce. Difficult as it is, the intelligent entrepreneur knows that to increase business productivity spells a great difference for any business. Even big enterprises have learned how important it is to continually be productive in every aspect of the business. What does business productivity mean? Being productive does not only mean that your employees have to break their backs producing the products or services you offer. Nowadays, productivity means increasing efficiency in all areas of work.  Productivity means continuous involvement and engagement.  For the businessman, this means finding the right tools to make work more efficient.  Thus, a huge part of that productivity involves work management. Five ways that increase business…
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Accounting Management System Made Easy

Accounting Management System Made Easy

For Accountants, For SMEs
When one mentions accounting system, listeners automatically think it’s complicated. Hence, for many starting or existing small and medium enterprises, Excel seems to be the easiest solution for simple booking keeping needs and activities, and it will work up to a certain point. The limitations of Excel As a business grows, there are some things Excel functions won’t be able to do. While Excel can simplify your work in terms of finding and sorting data according to date, the client or amount, or that it allows you to structure your bookkeeping contents and categories the way you feel you need it to be, there are certain limitations to what Excel can do. Not to mention that even if Excel is easy to use, there are functions that you still need…
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