Accounting & Bookkeeping Tips & Tricks

6 Blogs All Small Business Owners Should Read

Posted by Kyndall DySard on January 23, 2017 at 9:00 AM

Owning a business can be tough, so you're going to need a lot of help and advice a long the way. There are so many websites and blogs that churn out business advice daily, but it's a pain figuring out which sites are worth reading.

We've compiled a list of a few of our small business blogs that we believe every business owner should have bookmarked. 

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What An Outsourced Accounting Firm Looks Like

Posted by CAP3 Team on January 16, 2017 at 11:52 AM

When most people hear about an outsourced accounting firm, they usually don't have a very good idea about what that is. So, they usually tend to assume that it may be a bookkeeping service company or a CPA firm. However, each one is different. So, how can you recognize an outsourced accounting firm?

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How to Outsource a CFO

Posted by CAP3 Team on January 5, 2017 at 9:40 AM

Running a business takes many skills sets, and business owners, eager to keep costs in check, try to do it all. From hiring decisions to compiling financial statements, owners spread themselves thin running from task to task. The upside? There's no large salary tied to people holding specialized positions. The downside? Each task gets but a fraction of the time it deserves - and requires.

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Steps tо Tаkе Before Outsourcing Yоur Accounting Department

Posted by CAP3 Team on December 29, 2016 at 10:51 AM

Accounting is undoubtedly an important department for every business organization. Besides its everyday tedious accounting tasks, it also helps to manage the financial planning of business firms. Accounting is arguably one of the most crucial aspects of any business.

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Why Bookkeeping Services Won't Give You the In-depth Analysis Your Business Needs

Posted by CAP3 Team on December 5, 2016 at 12:49 PM

In the technological world that we’re living in, there’s no way that a business can survive on the mere methodology of bookkeeping to keep their records secure. Be it a small business or a large one, there is a need to keep all of the transaction records intact (and that is definitely not possible with simple bookkeeping methods).

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Common Misconceptions About Outsourcing Your Accounting Department

Posted by CAP3 Team on November 28, 2016 at 12:15 PM

A company’s finances are often the biggest cause of concern, both for small business owners and large corporations. In recent years, more and more companies decide to outsource their accounting – according to Forbes, the financial and accounting outsourcing projects valued at $1M+ saw a dramatic increase in 2012, compared to the year before, and the trend is here to stay.

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The Key Functions of a CFO

Posted by CAP3 Team on November 15, 2016 at 8:01 AM

A CFO is accountable for all financial, risk management and administrative operations. In a small organization, the CFO can handle basic accounting duties and come up with financial reports on a monthly or annual basis. In a larger corporation, the CFO analyzes and reviews the accounting and reporting done to gain an overall view of the financial status of the business.

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How to Prevent Employee Theft and Fraud

Posted by CAP3 Team on November 7, 2016 at 10:55 AM

Every year, businesses lose billions of dollars to employee theft and fraud. These might include larceny, which is taking cash or property from the business and embezzlement which is theft committed by someone in a position of trust such as an accountant, billing and payroll schemes, as well as time theft (using company time for personal business) and information theft.

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What is a Utilization Rate?

Posted by CAP3 Team on October 21, 2016 at 10:53 AM

Recently we’ve started working with advertising and inbound marketing firms, and one of the first things we talk about is a utilization rate vs. a realization rate. A utilization rate is the amount of time that you or your employees spend working on client facing tasks vs. the total amount of time that you’re available to work.

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What is Inventory Turn, And Why is it Important?

Posted by CAP3 Team on October 21, 2016 at 10:50 AM

If you’re only turning your inventory one time per year, that means you have an enormous amount of cash that could be used for other operating expenses. When we work with any new client that either retails, wholesales, or uses inventory as a major component of their business, inventory is a critical metric that we measure. Why? What a lot of business owners might not understand is that when you have inventory, it’s the same as taking cash and putting it on a shelf.

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