Everyone’s job requires certain goods or services to be successful. Teachers need school supplies, mechanics need car parts, and restaurant managers need to get proper uniforms for their teams. Securing these items happens on a regular basis as part of the procurement process, but to ensure a paper trail exists from start to finish, the…

Remember the time when a single misplaced receipt could derail the entire expense reporting process in a company? Well, those days are long gone. In today's lightning-fast business world, the efficiency of expense management isn't just a nice-to-have, it's a must-have for a thriving company. Streamlined expense approvals are not just about speed; they're about…

Bank Reconciliation is the process of matching the company's cash balance to the bank statement. The aim is to ensure all transactions, like customer payments, bank fees, outstanding checks, and refunds, are accurately recorded in the company's cashbooks. Bank reconciliation is crucial for identifying accounting errors and detecting fraud or theft. Without proper reconciliation of…

As the saying goes, in business, you have to spend money to make money. Although the gravity of business expenditures might not be fully realized until you’re actually up and running, businesses at every stage spend money on a daily basis. Rent, payroll, new machinery, office equipment, and raw materials are just a few different…

Tracking a sale from start to finish helps businesses maintain the right inventory levels, implement the best cash flow tactics, and ensure customers are receiving the right products. Since most businesses are monitoring multiple sales at once, keeping an accurate record of every step along the way is crucial. Regardless of the business type, operating…

In a year, a company may be receiving thousands of resumes from aspiring candidates. Larger companies may receive millions of resumes. It is necessary for them to build a database of resumes. Manually handling and organizing resumes and analyzing them to pick the right candidates is daunting. There is also an element of bias if…

Transformative technologies such as enterprise resource planning (ERP), customer relationship management (CRM), and supply chain management (SCM) systems have brought productivity breakthroughs that have dramatically improved business performance. The finance function has reaped benefits from these advances but there’s much more to come. The next wave of transformation is upon us, and it involves transactions…

According to a 2020 report on the study on Occupational Fraud and Abuse by the Association of Certified Fraud Examiners (ACFE), the amount of money lost to occupational fraud each year represents a staggering drain on the global economy, and it directly impacts organizations’ abilities to create jobs, produce goods and services, and provide public…

A Guide to Stripe QuickBooks Integration The integration of payment processing and accounting systems is not just a convenience but a necessity for efficiency and accuracy in financial processes. Two of the most powerful tools in these realms are Stripe for payment processing and QuickBooks for accounting and financial management.  Integrating Stripe with QuickBooks can…

In the intricate web of the healthcare ecosystem, claims processing stands as a critical juncture where the efficiency and accuracy of operations profoundly impact patient care, provider satisfaction, and overall system performance. Traditionally, this process has been plagued by manual errors, time-consuming verifications, and a plethora of administrative challenges, prompting the healthcare industry to seek…