Global FPO - Outsourced Bookkeeping & Accounting Firm

  When you have a bank account, it’s important to know how much money you have on hand. But what if your bank statement shows that you have more money than usual? That can be confusing. In fact, it may be one of the first signs that something is wrong with your business or personal finances. The purpose of this article is to explain why reconciling your bank accounts is so important and how to do it correctly. We’ll also cover what type of data should be included in a reconciliation report and why it matters for both personal and business finances. What is a reconciliation? Reconciliation is an audit of your bank account. It's a way to check that your balance is accurate, and it will help you make sure all transactions are recorded accurately in your financial records. Reconciling means comparing what you see on the screen with what's been reported by the bank-and if there's a discrepancy between these two figures, then it might be time for some changes! How is a bank recon...

If you're a small business owner, you know the struggles of growing your company: finding the right employees, managing the budget, and keeping up with technology. While these challenges can be overwhelming for a solo entrepreneur, hiring a virtual CFO could be just what your business needs to scale up. A virtual CFO isn't just another accounting tool it's an investment in your future growth as an organization. Here are some benefits of hiring one: A virtual CFO can work from anywhere in the world A virtual CFO can work from anywhere in the world. You don't have to be in the office or onsite with your company to ensure it's running efficiently, a capability that can be particularly important if you're expanding internationally. You can also hire a virtual CFO that works at home, which means they don't have to worry about commuting and traffic jams, saving both time and money for both parties involved. If this sounds like something you might consider h...

If you're a small business owner, it's important that you hire the right bookkeeper. The job of a bookkeeper is not just to manage your finances but also to make sure that they are accurate and always up to date. Bookkeepers are responsible for keeping track of all transactions made by their clients, including cash flow and expenses. They also make sure that these records are accurate so that there are no errors in your financial reports later down the line when tax returns need to be filed or if there's an audit coming up in future months/years! Bookkeepers are responsible for the accounting and financial management of a business, which is why it is essential that you hire only the best bookkeepers. Bookkeeping is a critical part of running any small business, as well as being a crucial part of your overall success as an entrepreneur or manager. Bookkeepers make sure that all transactions are recorded accurately and consistently across all departments in your company (...

Managing payroll is a critical aspect of running a successful business, but it can also be time-consuming and stressful. With the right outsourcing provider, businesses can enjoy a range of benefits that go beyond just streamlining payroll processing. In this article, we'll explore the key advantages of outsourcing payroll services, including cost savings, increased speed, flexibility, accuracy, and staffing and recruitment services. Cost The biggest advantage of outsourcing payroll services is cost savings. Outsourcing payroll is often more cost-effective than having an in-house payroll department. This is because outsourcing providers have fewer overhead costs, which translates into lower costs for businesses. Additionally, outsourcing payroll eliminates the need for businesses to pay for benefits like health insurance and retirement plan contributions, which can add up over time when handled in-house. Speed One of the most important factors in payroll processing is speed. By out...

The new tax season is here, and that means it's time to get ready. When you're a small business owner, there are so many things you need to keep track of--and they all start with your taxes. If you don't take the time to get them right, you'll end up paying too much money or getting audited by the IRS (or both). But don't worry: Preparing your taxes with professional tax preparation services doesn't have to be complicated! Here are some tips for ensuring that when April 15 rolls around this year (or next) your return looks just as good as it did last year: Understanding the new tax law. The new tax law is very complicated, and it can be difficult to understand all of its implications. To help you get started, we've put together a summary of some of the most important changes in the new tax law. Major changes include: The standard deduction has been increased from $6,350 to $12,000 for single filers and from $9,350 to $24,000 for joint fi...