Here's a fun fact for your holiday reflection: according to the Bureau of Labor Statistics, there are over 1.3 million certified accountants in the US. While you may not be among their ranks, you can still learn some important skills from these hardworking professionals.
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Topics: Bookkeeping tips bookkeeping tips tax
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It's 2019, and we have machines to do nearly every awful task that we never wanted to do again...a dishwasher for our dishes, washing machine for smelly clothes, GPS for getting us anywhere, cars that drive and park themselves (also for getting us anywhere). But what about other terrible tasks? We're talking about things that would not only make our personal lives better, but also improve our professional lives.
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When Your Needs Outgrow Your Tools
Ovia Health is doing big things for women and families, and they need support that enables them the ability to grow at any pace, anytime. As a health and tech company, Ovia Health is committed to transforming the way employers support working women and families along their parenthood journey, improving outcomes by providing daily personalized engagement, proactively identifying potential health risks, and supporting a successful return to work.
But in 2018, the small finance team at Ovia Health needed an upgrade. They were dealing with some common accounting shortcomings related to their accounting software, in particular limited automation capabilities. This meant that they were still having to do a lot of manual bookkeeping on a regular basis, leading to human errors and inconsistencies.
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Botkeeper CEO Enrico Palmerino presented to the Maryland Association of CPAs conference in December 2018, where he discussed how to build a botbrain for your own accounting practice. The full video is below, and you can download the accompanying ebook by clicking here.
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Closing the books at the quarter end, managing invoices, and categorizing expenses involve a wide array of complex tasks that are both laborious and prone to human error. We at Botkeeper are automating bookkeeping workflows through our human-assisted AI platform, and today have announced our $18M series A round, one of the largest A rounds for a Boston tech company.
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Tax planning and preparation is a highly complex process, but it can be broken down into a few distinct buckets and simplified to allow business owners to complete their part of the process. Here’s a breakdown of all the basics to ensure you get the most for your money in 2018: Estimating Taxable Income, Estimating Tax Liability & Tax Planning, Determining How You Need to File Your Taxes, Filling Out the Forms, and Sending Everything In.
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Businesses of all sizes engage in bookkeeping activities, and it’s a vital function to keep your business financially stable and in compliance with regulations and tax law. It’s the cornerstone of continuity but one that’s not as exciting as marketing or sales. No business can survive without this key endeavor.
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Starting up a business can be very challenging, from setting up your day to day operations to choosing the best business strategy. After putting all these in place, one final hurdle you would face as a small business owner is choosing the right credit card processing company; a company appointed by a merchant to handle transactions from assorted channels such as credit cards and debit cards for merchant acquiring banks. For first-time business owners, sifting through so many processing companies (that are doing more or less the same thing) can be confusing. Don't worry, we've got you covered!
Topics: Bookkeeping Small Businesses
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We recently had the pleasure of sitting down with Steve Hooper, Co-founder and CEO of Kigo Kitchen. Steve was kind enough to share a bit of his experience on bringing a new level of AI and automation into the organization by using Botkeeper.
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For startups and small businesses, bookkeeping can be a real challenge. As an owner or manager, you’re faced with three options for accounting: do it yourself, have an employee do it, or let a third party take care of it.
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Starting a business? You might find accounting to be the scariest piece of the puzzle.
Bookkeeping requires learning a whole new language that’s unfamiliar to most people. With any luck, sales receipts will start piling up soon, right next to the pay stubs and tax filings. You need to get your bookkeeping rolling—and fast!
Thankfully, there are several options available for smart business owners. Here are three popular choices:
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Theft, fraud, embezzlement, thieving, larceny, appropriation, swindling—have you been hearing a lot of these terms lately? Sadly, a quick glance at any major news outlet will show you that bookkeeper theft has been rampant this past year, resulting in dozens of cases of fraud. The idea of a bookkeeper stealing money from you is almost inconceivable for many business owners. After all, you probably have a personal relationship with this person. You've trusted them to watch over the single most important part of your business. If money is going ‘out the back door’ due to bookkeeper theft, you will have very little chance of success in the long term. Unfortunately, this kind of theft is something that happens from time to time, so you need to pay close attention to make sure you don’t become a victim. Do you know what to look for? Here are 4 signs that can help you determine if your bookkeeper is stealing from you...