A business’s ability to remain agile will ensure it can quickly adapt to emerging trends and opportunities. Agility is not only a mindset of the team but the infrastructure the business has built over the years. Bogging your business down with layers upon layers of employees and middle management can prevent you from seizing an opportunity faster than your competitors.  One area you can remain agile is by surrounding yourself with scalable experts in necessary fields needed to support your business. This is where the concept of outsourced bookkeeping emerges as a game-changer, offering a ..read more

Financial planning and management are foundational to enduring success and growth. As businesses evolve, so does the complexity of their financial needs, making it imperative to stay informed and adept at budgeting, accounting, and bookkeeping practices. In this comprehensive guide, we'll navigate through key considerations and common pitfalls in budgeting, identify major financial mistakes to avoid, recommend the best budgeting method, and offer insights into utilizing modern tools over traditional methods like Excel. Moreover, we recognize the invaluable role of accounting experts in this jo ..read more

    Numbers are the core of any business, but at Basis 365 Accounting, we know that successful businesses are built by people. That's why our outsourced accounting and bookkeeping services go beyond simply crunching data. We understand that a "strong" business rests on a solid financial foundation, driven by efficient processes, accurate data, and a deep understanding of where the business stands financially as well as in the mind of the business owner. Beyond the Balance Sheet: The Human Touch Every business has its own unique story, goals, and challenges. That's why we don't treat ..read more

Every business has the need for “accounting”. You’d think every business would then need accountants to help them out. If that’s the case, why are there bookkeepers and what do that do that an accountant does not? What about a CFO, are they an accountant?  You’re not alone in understanding the differences as there isn’t really a common definition that everyone uses. We have requests for “CFO-services” that have nothing to do with what a CFO would actually do.  Knowing what each role does will help you know what you need as you put together the accounting team for your business. Bookk ..read more

Forget "Near Me": Why the Best Outsourced Accountants Can Be Anywhere In the age of Zoom meetings and instant messaging, the phrase "outsourced accountants near me" has become irrelevant. The truth is, location is a limiting factor when choosing an accounting or bookkeeping partner. Today's modern, cloud-based accounting department services have revolutionized the way businesses operate, enabling seamless collaboration and secure data access regardless of physical distance. Remember that time when you had to box up your receipts and drive across town for a face-to-face meeting with your accoun ..read more

In the complex world of business, a robust accounting system supports the foundation of financial clarity and control. It's not just about crunching numbers – it's about crafting a strategic architecture that empowers informed decisions, optimizes operations, and navigates the complexities of compliance. Whether you're a small startup or a seasoned enterprise, building an optimal accounting system requires careful planning, strategic technology integration, and unwavering commitment to financial discipline. This comprehensive guide will equip you with the knowledge and tools needed to navigate ..read more

In today's dynamic business landscape, optimizing efficiency and streamlining costs are crucial for success. One area where many companies are finding significant advantages is by outsourcing their accounting and bookkeeping services. But, is handing over the reins of your finances the right move for your business? This comprehensive guide delves into the pros and cons of outsourced accounting, empowering you to make an informed decision about your financial future. 1. Defining Outsourced Accounting Outsourced accounting entails entrusting your financial responsibilities, such as bookkeeping ..read more

In the bustling world of business, financial statement profits may grab the headlines, but it's cash flow that keeps the lights on. It's the lifeblood of a company, ensuring you have the resources to pay bills, invest in growth, and ultimately, stay afloat. Accrual accounting is important for many reasons when analyzing the performance of your business but your income statement profit is not the same as your cash flow. Let’s take a deeper dive into what “cash flow” is, how to calculate it, and why you should be looking at the past and future. Unpacking the Basics: What is Cash Flow? Put simply ..read more

The importance of efficient cash flow management cannot be overstated for small or rapidly growing businesses. One critical aspect is the management of accounts payable (AP). Effective accounts payable strategies not only streamline the payment process but also contribute significantly to better cash flow management. In this blog, we will delve into essential financial tactics that small businesses can adopt to optimize their accounts payable processes, with a focus on the solutions offered by Basis 365 Accounting. Make sure your accounting team is implementing as many of these as possible.&n ..read more

Many businesses are unable to afford to hire an accounting team. Often, business owners try to handle their books. However, this can lead to errors and other issues. Even if an organization has an accountant on staff, it's not their responsibility to prepare cash flow reports or income statements. A bookkeeper does not perform all of the daily tasks. Outsourced bookkeeping is a great option. When a company needs a bookkeeper who can do everything, outsourcing their bookkeeping is a great solution. This can go so far as to keep a business alive long-term. We'll look at how outsourced bookkeepi ..read more