Accounting and Outsourcing

Business Process Outsourcing: The Competitive Advantage by Rick Click & Thomas Duening

Global competition doesn't just move jobs, it also moves business processes and creates new kinds of business cooperation. For more than a century companies with global reach had to grow into huge enterprises with massive internal infrastructure. With the rise of computer systems, smaller companies learned to share the large mainframes to lower the cost for each business. Specialized providers went into business to offer their systems and expertise so that businesses could focus on their value proposition rather than their information technology.

This outsourcing of non-core operations has expanded to many other kinds of business processes such as human resources and even some aspects of accounting. Some businesses are even creating new value propositions by combining their specialized abilities with those of another company in order for each to have a more powerful offering for their target markets. This is especially true as companies extend their reach around the globe.

Rick Click and Thomas Duening show you how this process works and what you need to do and consider so you can identify which processes you might want to outsource to lower your costs and extend your reach. While this is a practical introduction, it is meant for the general business person having to learn about BPO and having to get up to speed about what has to be done to get it right.

     

Accounting and Outsourcing - Accounting

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Accounting and Outsourcing * Accounting

How to Tell if You've Outgrown Quicken   
Stephen L. Nelson

Think you've maybe outgrown Quicken as a small-business accounting solution? Maybe, maybe not. Small-business accounting systems (including Quicken) are supposed to do three things:


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Let Bush Tax Cuts End, Economists Say (Fox News)
NABE economist said Congress should let the Bush tax cuts expire.

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1. Measure your profits and cash flow so that you can prudently manage your business.


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Let Bush Tax Cuts End, Economists Say (Fox News)
NABE economist said Congress should let the Bush tax cuts expire.
Tax Tips For The Unemployed (CNN Money)
Tax time can be a painful time for many of us, and it's especially tough for people without jobs. If you're unemployed, there are a few twists and turns in the tax code that can work to your benefit.

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2. Track the assets and liabilities of the business so that you know what you own and what you owe.



3. Generate the business forms that you use to transact business.



As long you keep these three accounting system tasks in mind, you'll find it easy to tell when you've outgrown Quicken and should move up to a more full-featured small-business accounting system.



Symptom #1: You want to use accrual-basis accounting



Quicken measures income and expenses using either cash-based accounting or very simple accrual-based accounting. If you want to do sophisticated accrual-based accounting rather than cash-based accounting, you can't use Quicken. You'll need a more full-featured accounting system, such as QuickBooks from Intuit or Peachtree Accounting for Windows.



Symptom #2: You need detailed records of more than just cash



To keep detailed records of assets besides cash and your investments, you also need to use a small-business accounting system. For example, if you buy and sell inventory items and want to track those items, you need an accounting system that includes inventory management features. (Most small-business accounting packages provide these features.) If you own a lot of depreciable assets and want to track them, you need an accounting system that includes a true fixed-assets module that easily handles depreciation. (This is a less common feature, by the way.) If you want point-of-sale accounting, or other special features, you also need to upgrade to a more powerful accounting system.



Symptom #3: You need business forms other than checks



One other issue is business forms. Quicken produces check forms and Quicken Home & Business produces invoices and customer statements, but you may need to produce other business forms, such as purchase orders. If you want to automate production of these other forms with an accounting system rather than prepare them manually, you need to upgrade to a more powerful system.



Before you jump to another accounting system: Two Caveats to Consider



Before you purchase a new accounting system to take care of the tasks I've just described, there are a couple of things to keep in mind. First, no accounting system is perfect.
I've seen more than one business waste enormous amounts of time, energy, and money pursuing the perfect accounting system. If you have a system that works reasonably well, lets you gauge the performance of your business, and in general does most of the things you need it to do, you may create more problems than you solve by converting to a more complicated new system.



If Quicken works reasonably well and presents you with only a handful of minor problems and irritations, I'd suggest you stick with Quicken.



Also, the more powerful small-business accounting systems generally require you (or someone who works for you) to know a lot more about accounting than you need to know to operate Quicken.
When you get right down to it, all you need to know to operate Quicken is how to use a checkbook and enter payments and deposits into a check register. In comparison, to use a full-featured small-business accounting system, you (or your employee) should know how to perform double-entry bookkeeping, understand the tricks and techniques used in accrual-based accounting (accruals, deferrals, reversing journal entries, and so on), and be able to read and use the financial information contained in a standard set of accrual-based financial statements (income statements, balance sheets, and cash flow statements). Note that the cash flow statement produced by an accrual-based accounting system won't look anything like the Cash Flow report produced by Quicken.


CPA Stephen L. Nelson wrote the bestselling book on Quicken and QuickBooks as well as the downloadable do-it-yourself guides at
Incorporating a business,
href="http://www.llcsexplained.com/index.htm">Limited liability company formation.

What Other Authors say about Accounting and Outsourcing

Business Accounting Home Software and Finance Accounts by Terry Cartwright

<p>Knowledge of accounting home software will also help progressing and expanding a home or small business when evaluating the gross calculation of profit and the consequent net income tax liability...

Accounting - All Businesses Need One. by Article Submissions

As business becomes more and more global, and complexities continue to emerge, certain fields have gained prominence in today's career market. One of these is accounting. Accounting is a very conceptual...

Online Accounting Management by Veera Nagaraj

Online Accounting management Online Accounting Management (Business) is the practical application of management techniques to control and report on the financial health of the organization. This involves...

Accounting Outsourcing Services are meant to help you by Michelle Barkley

Are you worried about meeting client demand during the approaching tax session? Do you have a lot of pending work related to the management of your accounts? It all the more happens during the tax session...

Accounting Outsourcing Service to augment your business prospects by Michelle Barkley

Are you unable to keep a tab on the heavy accounting work undertaken by your accounting firm? This is just no reason for anyone to despair about his/her business prospects. Opt for accounting outsourcing...

Improve your business caliber with accounting outsourcing by Alvis Brazma

For business owners, who dream to make a distinct place in market, keeping a track of financial events and transactions is imperative in comparison to other factors. In businesses where accounting section...

Online Accounting Schools Train Professional Accountants by Michael Bustamante

There are many ways to gain an education in accounting, but the most convenient way to an accounting degree has to be online accounting schools. You can obtain a degree in accounting over the Internet...

Accounting outsourcing can shed your workload by michellebarkley

Accounting means handling of accounting tasks and its related stuff with utmost care. It is such department that every business or firms have to make a careful look on this. Accounting is one such department...

Help with Accounting Software by David C Skul

If you run a small business you need an appropriate accounting software that can satisfy your requests. You have a lot of options from which you can choose, such as: Peachtree, Quickbooks, Microsoft Great...

Personal Finance Software Review of Quicken Product Offerings by Charles Hebert

In this article I would like to conduct a personal finance software review of the Quicken product offerings designed for personal use. There are several personal finance software products on the market...

Quick Guide to Accounting Training by Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will...

Tips on Picking the Best Accounting Software - Top 2 Picks by Richard Seng

The doors are finally open. The flashy sign proclaiming, Come On In,... is brightly lit on the front door, and your new business is booming. Life is beautiful, and you can't help but think to yourself....

Accounting Principals and Tulsa by Simon Ward

<p>You can also find Accounting Principals in the city of Tulsa. The company is considered a leader in terms of offering the best workforce solutions specifically in the financial and accounting...


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Index of Articles about Accounting and Outsourcing

What Other Authors say about Accounting and Outsourcing

Business Accounting Home Software and Finance Accounts by Terry Cartwright

<p>Knowledge of accounting home software will also help progressing and expanding a home or small business when evaluating the gross calculation of profit and the consequent net income tax liability...

Accounting - All Businesses Need One. by Article Submissions

As business becomes more and more global, and complexities continue to emerge, certain fields have gained prominence in today's career market. One of these is accounting. Accounting is a very conceptual...

Online Accounting Management by Veera Nagaraj

Online Accounting management Online Accounting Management (Business) is the practical application of management techniques to control and report on the financial health of the organization. This involves...

Accounting Outsourcing Services are meant to help you by Michelle Barkley

Are you worried about meeting client demand during the approaching tax session? Do you have a lot of pending work related to the management of your accounts? It all the more happens during the tax session...

Accounting Outsourcing Service to augment your business prospects by Michelle Barkley

Are you unable to keep a tab on the heavy accounting work undertaken by your accounting firm? This is just no reason for anyone to despair about his/her business prospects. Opt for accounting outsourcing...

Improve your business caliber with accounting outsourcing by Alvis Brazma

For business owners, who dream to make a distinct place in market, keeping a track of financial events and transactions is imperative in comparison to other factors. In businesses where accounting section...

Online Accounting Schools Train Professional Accountants by Michael Bustamante

There are many ways to gain an education in accounting, but the most convenient way to an accounting degree has to be online accounting schools. You can obtain a degree in accounting over the Internet...

Accounting outsourcing can shed your workload by michellebarkley

Accounting means handling of accounting tasks and its related stuff with utmost care. It is such department that every business or firms have to make a careful look on this. Accounting is one such department...

Help with Accounting Software by David C Skul

If you run a small business you need an appropriate accounting software that can satisfy your requests. You have a lot of options from which you can choose, such as: Peachtree, Quickbooks, Microsoft Great...

Personal Finance Software Review of Quicken Product Offerings by Charles Hebert

In this article I would like to conduct a personal finance software review of the Quicken product offerings designed for personal use. There are several personal finance software products on the market...

Quick Guide to Accounting Training by Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will...

Tips on Picking the Best Accounting Software - Top 2 Picks by Richard Seng

The doors are finally open. The flashy sign proclaiming, Come On In,... is brightly lit on the front door, and your new business is booming. Life is beautiful, and you can't help but think to yourself....

Accounting Principals and Tulsa by Simon Ward

<p>You can also find Accounting Principals in the city of Tulsa. The company is considered a leader in terms of offering the best workforce solutions specifically in the financial and accounting...