Pasfirm Accounting

As a small business owner, you must ensure your funds are in control, particularly when trying to grow. Accounting errors can cause serious consequences. You don't always realize that when your accounting is at stake. However, these cautionary signs will ask you to consider an outsourced accounting solution. This blog details the warning signs that you have exceeded your in-house accounting team. Choosing the right time to outsource is a big decision. If you're worried about the financial position of your business, it's time to fill some of the financial gaps. Not enough time because you’re busy with accounting tasks As an entrepreneur, accounting is probably not one of your core businesses. If you struggle in several zones to keep up with your funds, it may be time to outsource your economic process. Even with an in-house accountant, glitches can happen. This is probably because the business has gone beyond setup during the growth phase. As the organization grows, what use...

A growing business indicates you cannot handle the bookkeeping needs of your business anymore. Here are the five signs you need to hire a bookkeeper for your business. While handling all the bookkeeping tasks and accounting needs yourself might seem like a great idea, you will be shocked to know that it's harming your business. Even though you have mastered accounting software and know your way through the numbers, as your business begins to expand and the financial needs of your company grow, hiring a bookkeeper becomes necessary. To help you recognize when your company needs a bookkeeper on an urgent basis, we have put down a common sign that indicates you so. So keep reading the article and see if your company is struggling with the following issues or not. Your books are never up to date Do your business books no longer reflect the current state of your business’s finances? Are you unable to understand the cash flow in your business anymore? This means you are no longer aware o...

Keep scrolling below to check out the best bookkeeping software options for small businesses. Gone are the days when bookkeepers maintained the bookkeeping records with pen and paper. The process was highly error-prone, unreliable, and frustrating at the same time. Since keeping track of the cash flow and managing books combined with other tasks was a complicated process, it became essential to adopt a means to automate the bookkeeping task and reduce the chances of human errors. While some businesses might consider Excel spreadsheets their savior, do not forget how redundant and time-consuming they are. Thankfully, there are many bookkeeping software available in the market that streamlines the data entry process and reduces the manual bookkeeping procedure, thus eliminating the human-made errors and improving the financial condition of your business. Switching from manual bookkeeping to software-based bookkeeping looks easy, but there is a catch! There are many software available in ...

Small business owners spend more than 41 hours a year on tax preparation, and most spend more than that. As an entrepreneur or owner of a small business, you are likely to be able to relate to this stat. Your tax preparation and bookkeeping may be taking up a lot of your time, which isn't good. We all hate bookkeeping, but it doesn't mean we have to do it all the time. Small business owners say that bookkeeping and tax preparation are part of owning a business that they don't like the most, 40%. The money and time it takes to run a small business are two things that small business owners don't like. What is a Virtual Assistant (VA)? A Virtual Assistant (VA) is a person who works from home and helps any entrepreneur. A Business, or a start-up with administrative, accounting, marketing, technical, creative, and personal support. For a while now, freelancers and Personal Assistants (PAs) have been in high demand because businesses and small businesses have seen how flexibl...

E-commerce businesses can be easier to run. It is easier when certain business functions like accounting and bookkeeping are done by other people. If an E-Commerce business wants to stay alive and grow. It is very important to keep an eye on its finances. There are a lot of things a business needs to know about its financial situation and performance. This includes how much money it makes. Also, as how much money it loses, how much money it spends on marketing and stock. And how much money it makes.  The best way to keep your money in order without having to spend a lot of money or hire more people is to outsource your accounting and bookkeeping to a well-known accounting firm like Push Digits Chartered Accountants.  Let's look at some of the advantages that an E-Commerce business would have if it outsourced its accounting:  Cost-Efficient  It only makes sense that the majority of the money is used to help the business grow and expand train employees, and do research...

In this article, we have put down the ten important bookkeeping tasks that businesses should perform on a daily basis. Without a system for your company's finances, many things can go through the cracks and cost you money in the long run. With a clear process and some simple bookkeeping tasks, you can better manage your financial situation and even increase your income. The goal is to create a simplified process that details the finances of the business. 10 Bookkeeping Tasks to Use throughout the Year Here we are providing the list of ten such bookkeeping tasks that every business should perform regularly to meet their financial goals. Go Paperless with cloud-based Bookkeeping Most Bookkeeping programs provide all the basic functionality needed for all types of business bookkeeping. One of the similar programs is Cloud-Based Bookkeeping. Setting up Cloud-Based Bookkeeping can be very effective as you don’t have to stick to the paper bills, you can have access to your business’s fin...