FINANCE AND ACCOUNTING: AVOID MISTAKES TO SCALE YOUR BUSINESS.

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Presentation transcript:

FINANCE AND ACCOUNTING AVOID MISTAKES TO SCALE YOUR BUSINESS

Most of the businesses fail due to poor management of accounts that impacts the bottom line of businesses.

Data entry errors while managing bills. 1 COMMON ACCOUNTING MISTAKES Considering net profits and cash flow equally. 2

Not reconciling the accounts regularly. Unplanned budget. 4 Using business accounts as personal accounts. 5 3

Virtual accounting is an ideal solution to avoid such mistakes!

Virtual accounting allows well-qualified accountants to offer accounting services remotely. Many businesses across the US are taking advantage of this efficient, flexible and cost-effective accounting option so that they could meet their business goals by focusing on core operations.

HOW VIRTUAL ACCOUNTING HELPS IN BUSINESS GROWTH? 1 2 Virtual accountants deliver accurate financial reports and statements on daily/weekly/monthly basis as per business requirement. Virtual accountants are experts that help businesses to take a better financial decision and also provide advice on different financial matters.

Businesses can save their valuable time as virtual accountants look after every accounting operation precisely. Virtual accounting is affordable as compared to employing an in-house accounting team. 4 They maintain an appropriate cash flow by recording and tracking income and expenses of a business efficiently. Virtual accountants take away all the accounting burden from business and allow owners to focus on their core activities

Virtual accounting firms make use of different accounting software according to business requirements XeroXero QuickBooks by Intuit NetSuite Accounting Myob Accounting Sage Accounting

P E R C E N T A G EO FC O M P A N I E ST H A TO U T S O U R C ET H E S EA C C O U N T I N GS E R V I C E SP E R C E N T A G EO FC O M P A N I E ST H A TO U T S O U R C ET H E S EA C C O U N T I N GS E R V I C E S 30%30% 16%16% 14%14% 71% TAX PREPARATION 50% PAYROLL 48% AUDIT TAX PLANNING PERSONAL FINANCESBOOKKEEPING

CONCLUSION Most of the businesses are lagging behind due to improper management of accounts in their firms and spending a lot to streamline the entire process. If you too are struggling with such a situation, you should think about hiring a team of reliable virtual accountants.

COGNEESOL is an ideal choice when it comes to hiring virtual accountants !virtual accountants

Cogneesol Inc. 30 Wall Street, 8th Floor New York, NY