Accounting

Do Startups Need an Accountant?

Your specialty is running your business. Leave the financial detail to an accountant. If you and your accountant use cloud-based accounting software, you’ll be able to keep track of what your accountant does, and always be able to see your company’s financial situation at a glance. We have witnessed and/or either worked with companies that have attempted to do their…

12 Reasons Cloud-Based Accounting is Taking Off

Business owners usually wear several hats. The thinking cap, the creative beret, the sales and marketing topper. Not too many want to don the green visor – the once-popular headwear of accountants. Shuffling piles of paperwork, figuring out how to enter transactions, reconcile accounts, keep track of payables and receivables, generate invoices, close period ends…all are necessary to the running…

Preparing Audit-Ready Financials: Best Practices to Avoid Common Pitfalls

Edward Thomas Associates is happy to offer the eBook ‘Preparing Audit-Ready Financials:  Best Practices to Avoid Common Pitfalls’. The eBooks covers an approach to well-documented transactions and balances; GAAP-compliant revenue accounting; the realizable value of receivables; handling the complexity of consolidation for multiple entities; and more.  Here’s a snippet from the eBook: For public companies, [audits are] a statutory requirement…

Outsource or Hire? New Accounting Best Practices for the Digital Age

  If you began your business as a solopreneur or a small start-up, chances are bookkeeping was something you did in addition to your more pressing duty of running the business. Savvy executives and owners don’t want that kind of distraction and quickly embraced outsourcing to address accounting and other functions.  Any departmental function that was outside the core competencies of…

How to Select an ERP System

Before choosing a system, the company needs to make sure that it has the right people on board, including an experienced project manager. This person can make the selection process more effective, not to mention easier. The project manager should have previous experience selecting and implementing systems. But almost as important is that he or she should not be an…