It is simple. The one reason you should outsource your bookkeeping is fraud. The news wires are full of stories detailing the losses to businesses because of fraudulent bookkeeping activities. In today’s local newspaper’s online feed, a story identified a…
Today, most bookkeeping is performed by humans, but with the advent of AI (Artificial Intelligence) and RPA (Robotic Process Automation), the future of bookkeeping is changing very quickly. Computers are taught how to perform bookkeeping tasks, …and they do them quickly and…
Businesses of all sizes are learning how to function in an out-of-office structure during this pandemic. The challenges include the following to name a few: Maintaining current clients Acquisition of new accounts and business Keeping a healthy cash flow Functioning…
Fraud is something that most small business owners don’t like to think about and often think, “That can’t happen to me.” However, as we’ve previously discussed, it happens far more often than business owners would like to admit. In small…
We’ve all read about improving processes and how running an efficient business is important to become more profitable. But as small business owners, we are often caught up in the issue of knowing that we have a small staff and…
Simply stated, we learn from each other. Open and honest discussion between business owners provides real life tales of running a small business. At Expex, we work within the small to medium sized business communities. Bookkeeping is such a critical…
Small businesses fund their operations from cash generated by the business. While some companies accept their customers credit cards for payment, others invoice their customers or send a monthly statement. This is referred to as selling on credit because you…
Bookkeeping has traditionally been a task-oriented process that require an understanding of how and when each task needs to be completed. This culminates in the completion of financial statements that can be reviewed for performance, risk, trends, and a host…
As a small business owner, we are confident in our thinking that you do not enjoy any form of account reconciliations, including credit card reconciliations. In August 2019, we posted a blog as part of our Bookkeeping series entitled, Bookkeeping…
There has been so much written about businesses surviving in the times of Covid-19. Yes, these are unprecedented times and the environment calls for strategic decisions to be made, right now. Think about your business and employees. This may sound…