Bookkeeping

This means I need to be clear about my budget and justify any indirect costs I want to include. Effectively managing direct costs allows businesses to make informed decisions about pricing, resource allocation, and cost-cutting strategies. These costs are the foundation for understanding overall profitability and are a vital part of any business’s financial health. […]

The general ledger organizes this data into assets, liabilities, and revenue. It acts as a central repository that is later used for financial reporting and analysis. In accounting, journal is the first and most basic of the books of accounts. All business transactions are recorded through accounting entries commonly known as journal entries in the

While it helps businesses organize financial data, it lacks the intelligence to analyze trends, detect irregularities, or predict cash flow changes. Manual invoice processing is one of the most time-consuming tasks for accountants. Automation tools extract data from invoices using OCR, match it with purchase orders, and route it for approval. With AP automation, accountants

If you still keep physical records, keep clinical files locked in a separate cabinet from your financial records. This not only helps with organization but ensures that confidential information is securely stored. As your practice grows, so do the number of records you need to manage. Transform how you manage your practice finances If clinical

Calculating the break-even point (BEP) is essential for businesses to understand their financial health. The BEP indicates the sales volume at which total revenues equal total costs, meaning the business neither makes a profit nor incurs a loss. This metric helps entrepreneurs and managers make informed decisions regarding pricing, budgeting, and overall strategy. To calculate