Accounting Software Articles

4 Predictions for Financial Planning and Analysis (FP&A) in 2021

With 2020 in the rear-view mirror, financial planning and analysis teams can celebrate having navigated one of the most volatile years on record. Pushed to the limit, organisations relied on…

6 Common Invoicing Problems and How to Solve Them

Your company may do excellent work, have dedicated team members and serve a great group of customers, but if its invoicing function isn’t performing properly, you won’t be in business for long…

6 Signs Your Business has Outgrown Budgeting in Excel

If you’re creating and managing budgets in Excel today, you’re not alone. If you’re struggling to…

8 Key Construction Accounting Best Practices for Contractors

Construction accounting can be challenging because of the complex nature of the business, and because of how some accounting methods are used differs from the norm in other industries. For example, contractors…

10 Accounts Payable Automation Best Practices

Armed with accounts payable (AP) automation software and some AP best practices, your team can recoup hours now spent on manual data entry. You’ll waste less time hunting down the status of any given transaction…

10 Benefits of Business Process Automation

To ensure employees don’t skip steps in workflows, overlook details, repeat tasks unnecessarily or abandon tasks before completion, businesses establish standardized processes. These business processes ensure…

10 Key Benefits of AP Automation

Accounts payable (AP) automation software empowers businesses by reducing manual tasks and freeing up cash flow. You can submit invoices, manage approvals and process payments through a single platform with swift approvals…

15 Biggest Accounting Challenges and Solutions in 2022

From managing disclosures and risk factors in financial reporting, to continued remote work, 2022 will bring challenges for accounting. Here's how to prepare.…

15 Ways to Manage & Improve Cash Flow in Construction

One of the most common reasons companies go out of business is because they run out of cash. Construction businesses, which often front many of their projects’ costs before ever sending out the first invoice, are…

18 Ways to Automate Your Business for Growth

Every business leader knows there’s a difference between busy work and productive work. The first tends to be a repetitive time-sink that requires little thought or talent. The latter produces a meaningful outcome that profits…

A Better Way to Amortise and Allocate Expenses

We all know how important it is to keep track of the money we spend, especially when running a business. After all, poor record keeping makes it difficult to manage cash flow and can have serious tax and legal implications…

Accounts Payable Turnover Ratio Defined: Formula & Examples

A high accounts payable ratio signals that a company is paying its creditors and suppliers quickly, while a low ratio suggests the business is slower in paying its bills. This is a critical metric to track because if a company’s…

Accounts Receivable (AR) Explained

Accounts receivable are cash amounts that clients owe your company. The goods or services have been delivered and the…

Accounts Receivable Turnover Ratio: Definition, Formula & Examples

The accounts receivable turnover ratio is one metric to watch closely as it measures how effectively a company is handling collections. If money is not coming in from customers…

Bank Reconciliations Defined: A Definitive Guide

Bank reconciliation is the process that companies use to make sure that the cash balances they show on their books matches the actual cash they have in the bank. With companies’ increasing use of other entities to make and receive…

Beginner’s Guide to Accounting for Nonprofit Organisations

This guide teaches nonprofit organisations about accounting standards, rules and how to handle common issues. Accounting experts share concepts, formulas, sample financial statements and a free getting started guide.

Beginner's Guide to Accounting for Nonprofit Organizations

Beginner’s Guide to Lease Accounting

Use this lease accounting guide to learn about the types of leases, how to present them on financial statements, calculations and the changes in the laws. CPA and CVA Denise Hozza shares expert advice for operationalising the new standards.

Benefits of Accounting Software with Inventory Tracking

Among the reasons organisations decide whether or not to purchase and implement accounting software is whether or not the software can reduce costs…

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Can Accounting Software Help Reduce Costs?

Among the reasons organizations decide whether or not to purchase and implement accounting software is whether or not the software can reduce costs…

Chief Financial Officer (CFO) Defined: Role, Responsibilities and Skills

Big public companies may have defined the CFO role, but the chief financial officer position is becoming increasingly common in midsize and even small firms. Recent postings for full-time CFOs on job-search sites…

ERP vs. Accounting Software Explained: What Are the Differences?

If they are successful, small businesses quickly outgrow their improvised processes and rudimentary technologies. A company that goes from dozens of customers to hundreds and then thousands, that opens…

Essential Guide to Managerial Accounting

This guide includes everything you need to understand management accounting. Our accounting experts provide definitions, formulas, examples, advice and helpful visuals.

FIFO, LIFO & Average: Comparing the Accounting Software Inventory Costing Methods

All businesses want to run smoothly, have happy customers who return to buy more of their products and, of course, turn a profit on a consistent basis. Having a steady flow of…

Fixed-Asset Accounting Basics

This guide includes everything you need to understand and begin fixed-asset accounting. Our accounting experts provide…

How Accounting and Inventory Software Will Make Your Next Audit a Breeze

While business audits can feel overwhelming from a data-gathering standpoint, they are a necessary component of business operations. But instead of dreading audits…

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How Business Intelligence Is Used in Accounting Today

An accounting team that’s both data-driven and proactive can be downright transformative. And CFOs get that there is steady sustained demand for more effective use of data, whether to identify areas for savings, evaluate…

How to Use Accrual Accounting in Your Growing Business

This accrual accounting guide teaches business owners what they need to understand and how to use accrual accounting effectively. Accounting experts share basic…

Profit and Loss (P&L) Statement Defined

No financial metric is an island. A business may have achieved record-breaking sales last quarter — an amazing accomplishment — but if its expenses also reached an all-time high, then the company may be no more…

Project Accounting Concepts and Business Calculations

This guide provides students and professionals everything they need to know to understand project accounting. Our accounting experts explain definitions, formulas, examples, practical expert advice, visuals and guidance that will help you master project accounting.