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What are the 5 basic principles of accounting?

It’s essential for any business to have basic accounting principles in mind to ensure the most accurate financial position. Your clients and stakeholders maintain trust within your company so recording reliable and certified information is key. What are the 5 basic principles of accounting?

Love Running Your Organization, But Hate Paperwork? 3 Reasons to Outsource Bill Payment

Love running your organization, but hate all of the paperwork? Here are three reasons to outsource your back-office functions to Consultance Accounting and switch to Bill.com, an automated bill payment solution.

Expense Management: 6 Ways to $ave in 2020

From switching to alternative staffing scenarios to converting credit card payments into ePayments, here are some money-saving strategies to help reduce overhead costs for your business or nonprofit this year.

A Prescription for Better Cash-Flow Management (Part 2)

This article is the second in a two-part series on achieving better cash flows for your business or nonprofit organization/association.

How to Achieve Better Cash Flow Management (Part 1)

This article is the first in a two-part series on achieving better cash flows for your business or nonprofit organization/association.

Payroll Accounting Pitfalls: How to Avoid Common Mistakes

Learn how to avoid common accounting mistakes when recording payroll-related entries for your business or not-for-profit organization.

Not-for-Profit Time Management

This article addresses how not-for-profit leaders can improve their chances of organizational success through better time management.

5 Key Cybersecurity Steps to Protect Against Payments Fraud

This article addresses five key questions to consider in your mid-year accounting checkup for your business or not-for-profit..

Your Mid-Year Accounting Checkup for Your Business or Not-for-Profit

This article addresses five key questions to consider in your mid-year accounting checkup for your business or not-for-profit..

Prescription for Success for Your New Business or Nonprofit Launch

This article provides a prescription for success when starting your new business or not-for-profit..

Avoid Financial Blinders: Outsourced Accounting

This article advises on why it’s helpful to have a second set of experienced eyes through outsourced accounting services, and offers tips on how to avoid financial blind spots, or mistakes.

What Keeps You Up at Night? Managing Financial Risks (Part 2)

This article is the second in a two-part series on Managing Financial Risks to your organization. We explain what to do after you identify and assess your financial risk: Implement a Risk Management Plan.

What Keeps You Up at Night? Managing Financial Risks (Part 1)

This article is the first in a two-part series on Managing Financial Risks to your organization. We’ll explain what is Financial Risk Management, why it’s important, and help you get started on taking prudent steps to manage your small business or not-for-profit organization’s biggest financial risks.

New Tax Provision

Have you heard about the new Section 199A tax provision? Taking concrete actions now with respect to your small business’ accounting records can help you optimize your tax savings.

Protect Your Business From Financial Failure Through K P I’s

Protect your business or not-for-profit organization from financial failure using Key Performance Indicators. This article will explain why KPIs are important and how to get started, to not only survive but also thrive in our volatile business environment.

Outsourcing Accounting Next Step To Successful Growth

Get answers to frequently-asked questions about Outsourced Virtual Accounting, and why it can be the next step to successful growth for your business/organization.

Essential Year-End Accounting Tips

Consider these tips to help your year-end accounting process run smoothly. Planning ahead will help you have accurate and timely financial statements, facilitate tax preparation, and meet filing deadlines.

How Accounting Firms Can Be Your Second Set of Eyes

Learn how to avoid blind spots that can hurt your business/organization.

Avoid Costly Mistakes by Standardizing Your Accounting Processes

Avoid costly mistakes that could ruin your business or organization’s reputation. Learn the benefits of standardized bookeeping and accounting processes.

Don’t Be a Victim! Manage the Risk of Fraud in Your Organization

To protect your organization, here are some ways to shore up your accounting processes and minimize the risk of payment fraud.

Why Good Bookkeeping Matters

Learn some important reasons why good bookkeeping matters and how bad bookkeeping can hurt your business or not-for-profit.

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Seeing Clearly: 3 Tips for Effective Sales Inventory Management

Consider these three tips to become confident that your sales inventory is effectively managed.

Practical Strategies to Address Your Top Accounting Challenges

Learn practical strategies for addressing your top accounting challenges.

Three Key Reasons to Love Your Accountant

Valentine’s Day is this week! Your accountant is probably not the first person you think of on February 14th, but in honor of this holiday, I give you three key reasons to love your accountant.

Optimizing Your Payroll Process

If you’re like most companies, whether you’re a commercial business or a not for profit organization, employees are your most valued assets. In order to attract and retain a strong employee base, it’s important to get your Payroll process running right. Check out these tips to optimize your Payroll process.

Review These 6 Expenses To Impact Your Bottom Line

The challenges of running a business and staying on top of the financial bottom line can be challenging. Growing your top line revenues is critical to your success. However, keeping your expenses in check is just as important and can help sustain your business while you build your revenues. Having a process, where you review and analyze the details of your spending activity, will help keep your costs down and in line with your industry standards. Here are six business expenses that will yield the biggest bang for your buck and are worth investing time reviewing to reduce your costs.

Advantages to Moving to QuickBooks Online

Choosing which version of QuickBooks is right for you can sometimes be unclear. While QuickBooks Desktop is still a great product and might still meet your needs for the foreseeable future, here are some of the advantages of moving to the online version of QuickBooks.

Key Benefits of Outsourcing Your Bill Payment Process

By outsourcing their back office functions to Consultance Accounting and switching to Bill.com, an automated bill payment solution, organizations can focus on what matters most, and let us handle their bookkeeping and accounting needs.

Learn how Consultance Accounting can improve your cash flows

The accounts receivable (AR) process, which includes the invoicing of customers, clients and members and the processing of monies received, is a vital process for most organizations. Consultance Accounting helps small and medium-sized organizations and businesses reengineer their AR processes. Here’s how we did it for one client, a professional services firm.

Gain Effective Accounting Procedures through Consultance Accounting

From our many experiences with onboarding small and medium-sized organizations, we understand documenting how things are done behind the scenes takes a back seat to the more pressing items, such as obtaining funding and growing and serving your members, customer and other stakeholders. Initially, most new clients do not have clearly articulated accounting policies and procedures.