Accounting

In this article: Effective account reconciliation ensures your financial records are accurate, you’re in compliance with applicable laws and you’re protected from fraud. Failure to engage in robust account reconciliation can leave your company vulnerable and inefficient.  For example, the Association of Certified Fraud Examiners reported in their 2024 study that 5% of revenue is lost to fraud each year, with a median loss of $145,000. This clearly illustrates why it’s crucial […]

Accounting is a crucial aspect of any business. Accurate record-keeping is essential to make informed decisions and ensuring financial stability. However, even experienced accountants can make mistakes that can have severe consequences. In this blog, CAP3 will discuss common accounting mistakes to avoid and provide tips for accurate record-keeping. 1. Proper categorization of expenses It is crucial to categorize expenses accurately to track the flow of money in and out of the […]

If you’re a small or medium-sized business owner, understanding your cash flow is crucial for your success. Cash flow refers to the amount of money that flows in and out of your business during a specific period. Here are some reasons why knowing your cash flow is important for your business… Helps with Financial Planning By understanding your cash flow, you can plan for the future, forecast cash needs and […]