It helps in identifying discrepancies between recorded and actual deposits, thus ensuring that all income is accurately reflected in the financial statements. Timely reconciliation can improve cash flow management by promptly identifying any delays or errors in the deposit process. This proactive approach also enhances the overall accuracy and ... Read More

With the cash accounting method, income is recognized when you receive money from a sale, and expenses are recorded when money goes out. With this method, you only account for income or expenses when the cash is exchanged, which makes it easier to understand your cash flow. In ecommerce, ... Read More

It helps in identifying discrepancies between recorded and actual deposits, thus ensuring that all income is accurately reflected in the financial statements. Timely reconciliation can improve cash flow management by promptly identifying any delays or errors in the deposit process. This proactive approach also enhances the overall accuracy and ... Read More

Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing. Managing non-profit financial statements is very crucial for the operations of non-profit or non-government organizations. To explore how our AP outsourcing and staffing solutions can benefit your organization, schedule a ... Read More

The coverage ratio measures how easily a company can pay its debts with its current income. Lenders, investors, and creditors use the coverage ratio to gain insight into a company's financial situation and determine its riskiness for future borrowing. A good coverage ratio indicates that it's likely the company will ... Read More

While feature-rich options may be appealing, consider if you really need all the extras or if a simpler solution would be more effective. Make sure the software is easy to navigate and doesn’t have a steep learning curve. Beyond basic accounting, your software should offer insights specific to eCommerce, helping ... Read More