In the past few years, the accounting and bookkeeping industry has evolved tremendously. The industry has witnessed several changes. Technology is driving change in the bookkeeping and accounting industry. Accounting automation is the new buzzword. Thanks to advancements in accounting technology, accountants and bookkeepers no longer need to manage data entry, and have started performing the role of strategic advisors. Here are some trends that will rule the bookkeeping and accounting industry in 2020 according to local bookkeeping firm, Virtual Jeannie Bookkeeping. The Rise of Cloud-Accounting Software A study estimates that around 78 percent of small businesses will be on [...]

Accounting plays a crucial role in running a business smoothly. Accounting supports decision making, helps you track income and expenses, provide stakeholders with qualitative financial information, and ensure statutory compliance. Whether you own a small, local business or are at the helm of a global corporation, you need to get your accounting in order. Here are some benefits of accounting for businesses. Helps Evaluate Business Performance Your financial accounts show the financial health of your business. They reflect the results of business operations and help you understand what is going on with your business financially. Business managers utilize financial data [...]

Accounting is important for every business. Accounting enables you to keep track of income and expenses. You can use different reports and projections generated by your finance team to make critical decisions. Maintaining financial records is easier said than done. Preparing and updating books for accounts involves a lot of effort. Believe us when we say your finance team has better things to do than setting up financial books. If you want your team to devote time to important tasks such as creating and implementing financial policies, consider outsourcing your accounting. Bookkeeping firms offer a range of services, such as [...]