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The order-to-cash/Accounts Receivables cycle in businesses is full of complexities. There are too many interactions that take place in the OTC/Accounts Rceeivables cycle and there is always room for efficiency enhancements in the process. True setback comes from the reliance on the hackneyed manual processes and the absence of a smooth transactional information flow. These are the major impediments that contribute to the inefficiencies and the increased operational costs. It is established that there are Read More

Real-time reporting basically means that an event must be reported as and when it occurs rather than in the later stage. In this same context, real-time accounting means retrieval of information that is stored in the accounting system by reducing the lag between the recording time of accounting and the time of availability. Real-time accounting is used to make accurate information available as soon as possible. Some benefits of Real-time accounting and financial reporting: Removing Read More

Adequate cash-flow is significant to running a healthy business and anybody running their own business will know it. It is a taboo that healthy cash flows in any business come from equity funding or income from other investment and not their original business operations. The OCF or Operating Cash Flow unfolds what revenue is generated by ongoing business operations like sale of goods or services. Importance Of Tracking Cash Flow There are quite a lot Read More

Is outsourcing the right solution to get your payroll sorted? Payroll is one of the major costs for most of the businesses plus there is no assurance of ROI. Outsourcing is increasingly available for all parts of the business. There are umpteen off-the-shelf payroll software packages available. Many businesses take the bait and often find that one-size-doesn’t-fit all.  Therefore, it is imperative to look at what values do the outsourcing company deliver. Typically, all in-house Read More

Accounting software these days is considered as a must-have to meet the requirements of small business mainly. Plus, it also acts as a vital tool facilitating your decision making process since you get regular updates of your finances and there are tools to analyze your budget. Not only do they provide you with all the details you require but also most importantly, they provide the same on-the-go. But the question is in a sea of Read More

Posted by: Joyce Jeeva

February 25, 2017

Have you started your tax prep for your small business yet? It’s about time you started prepping and it’s not very late to hire a tax preparer to help you out with it. There can be umpteen questions to start like who can be your my preparer? Am I choosing the right person? Can I still prepare taxes on time? So on and so forth. Before you think through all these, if you think that Read More

In today’s competitive world, outsourcing your CPA firm’s bookkeeping is one of the wisest choices to stay ahead of the competition by focusing on your core business. If you would like to stay ahead of your competitors consistently then you need to offer more values more than anybody does. With bookkeeping in hands you will have time to focus only on mundane CPA activities.  This is because bookkeeping demands greater attention and can be a Read More

Account Reconciliation is very important for CPAs and accounting firms. If they are not handled effectively, they can be time consuming and exhaustive.  Below are some of the practices for you to handle account reconciliation in a whole new perspective: Prioritizing the Balance Sheet Strategically planning your priority is the key approach. This method is also called “risk based prioritizing.” You need to identify the accounts that have high chances of becoming erroneous essentially. This Read More

Accounts Payable - Velan Bookkeeping Services

Category:  Accounts Payables

One of the most popular and favorite segment that is outsourced is the Procure to Pay or Accounts Payable processes. It’s pretty simple, why companies do that- P2P processes are completely a transnational one, hence most of the companies would like to free up the time and resources engaged in the P2P process and engage them more in strategic planning for their growth and development. Not only do the companies benefit from the labor arbitrage Read More

Posted by: Joyce Jeeva

January 25, 2017

tax preparation services

Category:  Accounting , Taxation

Find out what you can and what you cannot deduct.. New Year 2017 has just begun. It does not only mean a new beginning; it also marks the Tax season. It’s about time you started prepping your files. We know at this point in time you will be handling plethora of papers and bills. It can get over the top to handle both business bills as well as personal ones. You might also be simultaneously Read More

Happy New Year everyone! Can you believe it’s already 2017? Many of you would have come from vacation feeling all motivated and geared up to strike 2017. Now is the perfect time to plan and implement your new ideas. Below are some simple and highly effective tips for you to make your work life a lot less stressful and much easier. Lay your roadmap It’s about time you prepped your roadmap for the year and Read More

stress-free-tax-season

Category:  Taxation

New Year is around the corner; and in a jiffy, your tax season will be here too! All you need is a little knowledge and preparation to stay calm and composed when you file for the taxes next year. Whether you are electronically filing your returns or traditionally mailing your paper returns, below are the necessary information that you need to know. 4 THINGS YOU SHOULD START DOING RIGHT NOW TO WELCOME THE TAX SEASON Read More

Posted by: Joyce Jeeva

December 01, 2016

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Category:  Taxation

So, HOW CAN YOU PAY LESSER TAX AND SAVE MORE FOR YOUR RETIREMENT? Have you ever wondered about this? And then thought Super contributions could be the best way to start saving more for retirement rather than paying the humongous amount of tax. If you have not, think now! For, Super gives you incredible tax benefits. At some point in time, everyone would ask this one question to their accountant which is “How can I save Read More

taxes

Category:  Taxation

Are you a single owner or an active member of an LLC (Limited Liability Company)? Are you looking to transform your company to a multi-member LLC?  Whatever it is, you will have some questions on the tax part of your business. Below are a few things you need to know as an LLC owner: Tax laws for LLC- Basic: Firstly, it is very important to know the way in which an LLC is structured as Read More

cash flow management

Category:  Cash Flow Management

Have you just started up your own business? Are you looking for tips to manage your cash flow? Does the cash flow management intimidate you? Worry not and Read through…. Keep track of your cash flow: This would be the easiest tip of them all. Everything you need to do is constantly monitor and measure your cash flow. Here are some tips you can follow to do the same: Start measuring your cash flow Make Read More

Would you like to focus on your core business, concentrate on the client base, and be more productive? Yes? We know right? Everyone running their business would love that. Business owners would at some point in time feel that Accounting is hogging his time and it is not a very productive job but an essential one. In this era, with internet in hand the world has shrunk so much that you can contact anyone you Read More

Outsource bookkeeping

Category:  Accounting

QuickBooks, a product of Intuit, is one of the best selling software for bookkeeping and accounts. QuickBooks is very easy to install and use – as it does not have any prerequisites to start using it. QuickBooks outsourcing is incredibly useful for small business accounting as it provides top-notch professional services. There are plethoras of benefits on using QuickBooks, some of which are mentioned below: Time saving: It saves a lot of time for small Read More

Are you having troubles managing your payables and receivables? We have been there done that! As you know, managing your payables and receivables is the most significant aspect of your business in all stages. You may get overwhelmed with the kind of cash you’d have to handle, and keep everything intact and going. Fret not, below are some really simple techniques you can adopt to disentangle yourself from all the payables & receivables hassles. Payables: Read More

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Category:  Bookkeeping Services

You might feel bookkeeping is one dreadful job, and it hogs a lot of your time. Well, you are not alone. Below are some simple steps you can follow to save your time and ensure seamless bookkeeping. 1.Go paperless You may not be an expert in bookkeeping. You might find yourself frantically searching for that bill you know you kept in some place. You can avoid this most daunting task of maintaining papers which are Read More

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Category:  Accounting

The right accountant should know your business very well, be able to offer suggestions at the right time, and identify the areas of improvements. If your accountant isn’t doing this, then you may need to consider looking for a professional who does. There are several accounting and CPA firms in the marketplace. Selecting the right one that suits your business is the biggest challenge ever. People normally get suggestions/recommendations to identify the right fit. Nevertheless, Read More