Author: Complete Controller

The consulting field is incredibly dynamic and in high demand, making it an exciting and rewarding career choice. With its diverse applications across various industries, consulting offers ample opportunities for those with a solid educational background. But what sets top consultants apart from the rest? Here are some valuable tips on establishing yourself as a respected and sought-after professional in this thriving field.

An Overview of the Consulting Profession

Consultants are highly versatile professionals who can be found across various sectors based on their expertise and chosen focus. These sectors encompass management, law, communication, IT, marketing, and human resources. The diverse opportunities reflect the broad spectrum of fields where consultants can make a significant impact.

The important thing to become a consultant is to follow for at least five years. During your years of study, you acquire the necessary theoretical knowledge, but you also put into practice some of what you acquired through an internship or related work. Therefore, you can work freelance on behalf of a firm or be directly integrated into the company.

The Characteristics of a Good Consultant

In addition to intellectual baggage, you must also have the characteristics necessary for the success of your job as a consultant. Above all, it is an expert who can intervene in various company problems.

Empathy must also dominate because, above all, the company needs it, not the other way around. After that, his work needs a certain sense of listening, arrogance, creativity, and excellent organization. 

Otherwise, he could lose himself. The solutions must be found together, even if the consultant provides the essentials. Thus, an excellent collaborative spirit is necessary.

Be that as it may, the consultant must always keep an objective eye because he has the advantage of being an external person to the company, able to identify problems and find innovative solutions better than the employees who are on the inside.

To excel as a consultant, you must complete the required training, specialize in your chosen field, and develop essential skills and traits.

Accompanying Companies: What is the Role of the Consultant?

Many companies today call on this external professional to assist them in making decisions during the activities to make profits. Others, however, are still reluctant to seek a consultant’s help, thinking that it is not helpful and that it is possible to find advice from employees. What is the true role of a consultant in a company? Here are some answers to explain their importance.

An objective and practical look

As an external service provider, the consultant considers the company manager not his boss but his client. This leads him to carry out an objective and external look at the company, which employees can not perform because they are inside.

Thus, he has greater freedom of judgment when advising his client and even when he is discouraged without fear of crumbling. On the contrary, his eyes and judgments are more objective without ordering or giving lessons to the leader.

Effective knowledge of the company

Beyond this objectivity, the consultant must still put himself in the company’s shoes to better identify its needs, weaknesses, and strengths. He must be able to understand the company and be reassured before providing the necessary solutions.

At the same time, he maintains an excellent critical spirit. A good consultant stands out above all, not by the knowledge acquired in his studies but by his experience, which helps him more easily understand the company’s needs and find practical solutions.

Summary

In essence, no matter the size of your business, it’s beneficial to enlist a consultant’s services. Their expertise offers invaluable guidance for decision-making and greatly enhances all facets of your business operations. I highly encourage you to consider this proactive step!

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Discovering the overhead rate and percentage of small business benefits is an essential process that involves dividing indirect expenses by direct expenses. It’s ok; I know it seems overwhelming already, but it’s not. Once the company pinpoints its overhead costs, it becomes easier to establish fair prices for products and services. This step is crucial for the company as it can potentially lead to lower prices, enabling it to maintain a competitive edge. The ultimate goal of determining the overhead rate and percentage of expenses is to make well-informed decisions about the right and appropriate cost of products. This strategic approach will contribute to the company’s overall success and growth.

Determining the overhead rate and percentage for a small surveying business is a multi-step process that requires careful consideration. Don’t worry; I’m here to help you through each step.

Step 1 – Calculate the Sum of the Company’s Direct and Indirect Expenses

This is the primary step in determining the overhead rate for any company, no matter how big or small. To calculate the direct expenses, align the cost of direct labor and direct material required to manufacture the products or services the company offers. For example, if the company sells mobile phones, the cost of material, labor costs directly paid to the workforce, and everything else involved in manufacturing the mobile phones will be included in the direct expenses. The number of products manufactured each year directly correlates with the cost increase. This financial dynamic underscores the importance of efficient cash flow management for sustainable business growth. However, determining indirect expenses aligns all the costs involved indirectly with manufacturing the products, such as the sales and customer services department, taxes, marketing and administrative fees, insurance, etc.

Step 2 – Calculate the Overhead Rate

Once you have calculated the company’s direct and indirect expenses, the next step is to divide the sum of all direct expenses by the sum of all indirect expenses. This results in the overhead rate.

Step 3 – Calculate the Overhead Percentage

Once you have calculated the overhead rate of a small surveying business, you must multiply it by one hundred to determine the overhead percentage.

How Often are Overhead Rate and Overhead Expense Ideally Calculated for Small Surveying Businesses?

In many countries, the overhead rate and percentage are typically calculated yearly. However, in a small surveying business, the overhead rate and percentage may be calculated monthly to evaluate the expenses and costs in the premature stages. Frequent calculation and evaluation will lead the company to revise and analyze its costs and expenses.

Why is it Important to Determine the Overhead Rate and Expenses?

Calculating the overhead rate and percentage is an essential aspect of financial management for businesses across all industries. These figures are pivotal in helping management enforce prudent and efficient operations. By calculating the overhead rate and percentage, a company can gain valuable insights into its cost structure and profit margins. This, in turn, allows for a more accurate assessment of the impact of overhead on various costs involved in the business.

Moreover, the overhead rate and percentage are instrumental in predicting the company’s profitability for the upcoming months and years. A company must have overhead expenses and costs that cover operational expenses and include a healthy profit margin.

By consistently reviewing overhead costs bi-monthly, monthly, and quarterly through bookkeeping practices, a company gains a better understanding of its cost dynamics. It can make informed decisions about pricing strategies for its products and services. Implementing a thorough and strategic approach to managing overhead costs, including expenses related to rent, utilities, and administrative salaries, is crucial for sustaining the financial health and stability of the business.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By conducting a few focused Google searches, you’ll discover a treasure trove of valuable insights on the exciting journey of launching a business. Countless success stories showcase how startups have blossomed into influential businesses. While finding specific case studies for your industry or business model may seem challenging, the wealth of information available will undoubtedly guide you toward achieving your entrepreneurial goals.

The most dependable way to elevate your business idea is to have confidence in proven methods that other successful entrepreneurs have used to achieve their goals.

Focus on Productivity and Not Only on Activity

Embrace the notion that it’s okay not to be constantly busy. Take a moment to reflect on what truly matters to you today and in the future, and strive to make your activities purposeful. Organize your tasks in a way that provides clarity on your next steps. As highlighted by leadership expert and coach Leah Wultschik, constant busyness among leaders may hinder creativity and strategic thinking. Instead of being busy just for the sake of it, aim to be proactive and intentional in your actions. This approach allows for the space and time needed to make thoughtful, innovative decisions. By focusing on tasks that truly contribute to your goals and objectives rather than simply keeping busy with unimportant activities, you can tap into your full potential and drive yourself toward even greater success.

Hire the Best Talent Possible

Here are some valuable insights from Aislinn Malszecki, who leads content strategy and community at MaRS, to help you in your quest to hire the best talent:

1. Strategic hiring: Take the time to find candidates who have the right skills and align with your company culture. Avoid rushing decisions and focus on making the best choice.
2. Showcase your company: Build a positive buzz around your company by leveraging your reputation and personal connections to attract the right individuals to join your team.
3. Utilize your network: Go beyond traditional job postings by tapping into your network and your employees’ connections to identify like-minded potential hires.

Assembling the right team is pivotal. Collaborating with the right individuals can be the catalyst for propelling your business forward. Surround yourself with inspiring people who share your vision.

Partner with an Agency

The opportunity cost of daily operations can add up fast and take its toll if you try to do everything yourself. Therefore, it’s better to work with an agency. The initial cost of outsourced work will eventually be lower than trying to do everything on your own.

Patrick Woods, who holds the director of customer success position at Keen IO, has articulated several challenges that arise when collaborating with an external agency. To overcome these obstacles, he suggests the following:

• Build a relationship with the agency: Take time to get to know the people you will be working with. Determine fit and expectations.
• Communicate: Staying in touch is key as startups move fast. Regular, clear communication with the agency ensures we’re all aligned and moving forward together positively.
• Understand what the agency can do for you: Clarify the core strengths and competencies of the agency’s staff. Establish which tasks you want them to take over and which ones you want to handle in-house.

Beware of the Negativity

I truly appreciate the incredible enthusiasm exhibited by you and your team. Your passion and energy play a significant role in driving the success of our company. Your positive attitude is contagious and has the power to uplift and inspire everyone around you. We can achieve great things together and create a thriving, productive work environment. On the other hand, a lack of enthusiasm can dampen morale and hinder progress. Therefore, fostering a culture of enthusiasm and passion within your company is crucial to drive success. When you’re confident and optimistic, it inspires your employees to feel the same way and motivates them to follow your lead eagerly. Renowned author and keynote speaker Jon Gordon has emphasized that negativity can significantly affect your team’s morale, presentation, and productivity, leading to decreased energy and increased stress. As a leader, it’s essential to foster a positive work environment. By setting a tone of positivity, you can inspire your team to do their best and contribute to a lively and productive workplace.

Avoid Burnout

James Schramko, the founder of SuperFastBusiness, is a strong proponent of prioritizing adequate rest and sleep. According to Schramko, ensuring sufficient rest can lead to a significant improvement in overall performance. The repercussions of sleep deprivation can be quite substantial, encompassing issues such as depression, a compromised immune system, cognitive difficulties, and an increased risk of obesity. Furthermore, the costs associated with experiencing burnout can be extremely high, particularly if it renders an individual unable to work for an extended period. It’s crucial to consider these potential consequences carefully before reaching such a point.

Prioritize

It’s impossible to do everything in just 24 hours. We all lead busy lives, and that’s why Derek Sivers, the founder of CD Baby, follows the “Hell, yeah!” or “no” philosophy. According to him, saying “no” to most things creates space in your life for the few things that genuinely excite you. When you’re torn between a “yes” and a “no,” he recommends leaning towards “no.” Embrace the opportunities you’re truly passionate about and simply can’t turn down. This approach allows you to focus on what truly matters and brings you joy.

Final Thoughts

Thinking about the journey from being a startup to an established business is exhilarating. It’s a process that takes time, and it’s important not to rush it. When everything falls into place, you can transition smoothly from one stage to the next. Trying to force growth could create unexpected challenges, so it’s best to let things unfold naturally. Stay patient and focused, and success will follow! About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Starting a business is undoubtedly a challenging endeavor. Drawing from my own experiences in establishing various organizations, I can attest that it requires determination and hard work. Securing business credit will be crucial if you’re embarking on this journey. While the road ahead may be long and filled with challenges, with a solid foundation, the rewards can be immense. A robust marketing strategy is paramount for those whose new businesses have already taken off. Setting up your strategy early on will ensure that you hit the ground running once your company is officially launched. Remember, time waits for no one, so there’s no need to be apprehensive. It’s never too late to develop a strong marketing plan and steer your business toward success.

Some of you may have made a showcasing system before your organization dispatched. That is extraordinary. In any case, when you’re ready to go, you rapidly understand your technique isn’t working how you figured it would. It’s an ideal opportunity to return to the planning phase. Notwithstanding your exceptional situation, I’m sure this guide can help steer you in the correct way. It will be utilized as a perspective for imminent startup authors in the fundamental phases of composing a marketable strategy for your new organization. Your advertising methodology can represent the deciding moment of your business. Significantly, you invest the energy to get it directly as quickly as time permits.

Before you do anything else, you must choose to sell your items or administrations. In my counseling work, I regularly see numerous new entrepreneurs who skirt this progression since they accept their brands are for everybody. While I appreciate their desire, that is not the situation.

Online marketing is probably an essential tool for every startup, but before you open your social media profiles, maybe you should read this article.

When it comes to online marketing, many companies start in the middle of the process by opening their social networks and uploading information without a good market or strategy behind it. Before considering implementing efforts online, make sure your product is ready to launch and then create a plan for communicating it. This process is essential, not only for marketing but for your entire startup.

Focus on Your Product First

If you are starting a startup, your product is the basis of everything. Focus on creating a great product that a significant number of people want to buy. Your efforts will be rewarded more than anything you can do in terms of marketing. Think of any brand you admire; there is an excellent product under your funny Twitter accounts or engaging newsletters.

Test Your Product in the Market

When creating your product, test and experiment, and let consumers tell you if you’re doing well. You can do this in your accounts online, even if your product is not complete or has a minimal budget. Let people know what you want to sell them and see how they respond to it. It may be a longer process, but it will be worthwhile.

Create a Strategy

Once your product is ready, consider which channels you should promote it and why. Considering that you need Twitter just because “everyone has Twitter” is not a reason that guarantees success. Once you have chosen the channels, experiment with them and define their use and success. Try using different platforms, advertising models, and creative ideas, and be sure to observe your return on investment to understand what is working and what is not. You will realize that this will lead you to a slightly slower but better-planned growth that will ultimately result in real, loyal customers and a community satisfied with your product.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Reconciling your company bank accounts every month is essential, just like reconciling your personal bank account. This method matches your credit card transactions with your bookkeeping records. It is a crucial step to ensure that credit card statements are accurate, and if there are any discrepancies, it helps the business owner take necessary action.

Reconciling your credit card statement every month helps to guarantee that:

• We resolve any discrepancies between your credit card statement and bank account, such as a bank deposit with the wrong amount.
• You will promptly address fraudulent activities or theft from your card and account. For example, if you see a purchase list on your disapproved statement, you can inform your bank to investigate the case.

What is the Process of Credit Card Reconciliation?

When the credit card statements are received, accountants match every transaction on the statement with the company’s internal system. It includes both inbound credit card payments from customers and outbound transactions to suppliers and service providers.

If there are any discrepancies, take the proper steps to investigate the case. After performing all the research and gathering information, store this data for audit purposes.

How Credit Card Reconciliation Software Works

Credit card reconciliation software automates all the required steps in the process. It imports data from ERP or general ledger systems and credit card files or statements. Then, the software compares both files and looks for any discrepancies the accounting team needs to investigate.

It makes credit card reconciliation easier as you don’t have to match each transaction manually, and this whole process also speeds up.

How to do Credit Card Reconciliation?

Step 1: Get all the transactions of a credit card

The first step is to obtain all your company’s various credit card account transactions. You can do this by importing credit card transactions using software or manually uploading bank statements into your accounting software. We highly recommend importing these transactions using software instead of manually doing it for more accurate results and to save you time.

Step 2: Assign expenses to a specific employee or team

First, sort out all of your company’s costs and then decide which employee or group will be responsible for various aspects of your company.

Step 3: Gather and arrange data for various expenses

This step requires you to collect important documents, reports, receipts, and credit card statements. It can be a difficult and time-consuming process. After that, you must arrange data per your company’s requirements.

Step 4: Compare the transaction amounts on expense receipts with the outgoing quantity in the corresponding account 

Now is the time to validate your expenses. Thoroughly check all your company’s expenditures and ensure they comply with your spending policies to prevent fraudulent activities or mistakes that could lead to potential legal woes.

Step 5: Discuss any policy violations with the offending party

If you notice any policy violations in your company, it is crucial to address them immediately. Discuss them with the offending party to know whether it was a mistake or some fraud activity. It rarely happens, but it is essential to highlight the issue to prevent the company from engaging in such activities in the future. A simple conversation will help to clear up any misunderstanding and to help the future reconciliation processes.

Step 6: Process credit card transactions in the general ledger

Now that you have sorted out all the expenses and addressed any potential issues, it is time to add your transactions to your company’s public ledger.

Validating and addressing issues before adding expenses to your books is essential to ensuring that the general ledger remains a solid and accurate foundation for your company’s financial system.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The rapid advancement of information technology and its widespread availability have increased businesses’ reliance on computerized programs and systems in various industries and at all levels. Banks are now the most critical sectors affected by this development and have transformed into computerized accounting information systems, improving financial and administrative performance. In addition to decision-making processes in the banking sector, they provide statistical methods and testing tools that aid in evaluating business performance and decision-making.

The research on the risk associated with the design and analysis of accounting systems indicated the most significant hazards to which computerized accounting systems can be exposed. It includes the unintentional and intentional submission of insufficient data, the accidental deletion of data, employee password sharing, and the introduction of viruses into computers. However, this advancement in accounting systems in the business is coupled with multiple significant risks relating to the security and safety of computerized accounting information systems. Mainly because a similar advancement does not attend to this advancement in the capabilities and efficiency of human resources by users of the technology, and it is also not accepted.

Software errors and equipment malfunctions, such as hardware failures, errors or software malfunctions, operating system failures, electrical interference and oscillations, and undiscovered data transfer faults, threaten the firm.

Unintentional activities, like errors or deletions due to ignorance or accident, pose a hazard to businesses. Human error, the inability to follow defined procedures, and inadequate supervision or trained workers are the most common causes. Users frequently lose or misplace data and accidentally remove or update files, data, and applications. Operators and users of computers may enter erroneous or unreliable data, use the incorrect version of the software, utilize the wrong data file, or save the file in the wrong location. Analysts and system programmers make errors in the system’s logic, create systems that do not satisfy the company’s needs, or develop systems that cannot meet the company’s needs.

You must manage internal and external risks to accounting information systems to be credible and appropriate for decision-making. The ease with which you can penetrate accounting information systems leads to distortion of accounting data, which harms the quality of judgments made. Accounting information system inputs serve as the foundation for the design of any program, whether administrative, financial, or control, implying the need to pay attention to data accuracy and prevent unauthorized changes, which reflects the credibility of accounting data and thus affects the effectiveness of internal control.

The inadequacy of input controls, processing, and directing designed for electronic work environment applications and insufficient procedures to secure software related to the security of electronic work environment information are all risks associated with electronic work environment applications.

Unauthorized access, multiple people using the same passwords, and messing with data entry through the server or computer networks are all things to watch out for when it comes to the IT systems used for accounting data processing.

The increased use of technological applications requires the development of internal control functions at the technical and technical level commensurate with the degree of technology used in the company, which you can accomplish through the ongoing development and qualification of employees in modern technology.

Accounting is a control that aims to achieve control over financial and accounting regulations and instructions to preserve the integrity of a particular establishment’s assets and prevent accounting errors in the financial statements. It means that accounting control achieves widespread application and broad control. This control is designed to ensure that management’s orders are carried out legally, that financial transactions are recorded historically and by accounting principles, that the establishment’s assets are appropriately used, and that the actual assets are by what is recorded.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Exchanging emails has become a significant part of every step we take, whether applying for a job or sending a business proposal. Many of us are living under the ray of thought that email conversations are safe and secure, but this is not true. Emails are critical in marketing, as email marketing is the easiest and most effective way to reach potential customers. Being careful can save you from significant disasters and possible loss of your confidential personal, professional, and corporate information.

The data you share in an email is as unsafe as an unlocked treasure vault, whether it is sent as an attachment or written in a subject line. Ensure that you do not share any of your data through emails. The below-listed tactics will assist you in avoiding such blunders:

1. Do not open emails received from an unknown source

Multiple emails land in your inbox daily. Some are relevant replies to your sent emails, but most are from an unknown source. You must be careful when opening such emails. Cybercriminals are getting active daily, and they consider email scamming one of the most sophisticated ways to rob sensitive data and information. Next time you receive an email from an unidentified source, try your best not to open such emails.

2. Over-sharing

It does not sound weird, but excessive sharing through emails is not a sensible step to take. Even the slightest information about you or your life can be a weapon against you. Most of us are okay with sharing our basic information on different social platforms without even realizing that these pieces of information are a lump of spiced meat for hackers to predict our passwords and passcodes.

3. Always be cautious

The suspecting set emails require you to click on the link to verify your data, particularly when you have not downloaded an application or software that would ask you for email verification. Please do not open the link, as it can cause you a massive unseen virtual loss. If you find a company’s or person’s name attached to the mail, then dial a call to cross-check the matter and figure out the reason for sending the email.

4. Use encryption software

Technology is a great help in fighting these unseen days today, increasing virtual theft. Email encryption software is no longer a choice; it has gradually become necessary to secure the data and information shared in emails. The content attached or written in a sent email can be easily accessed by the third masked person between the sender and the receiver. When trying to avoid such situations, this software is crucial. According to a technical fact, such software protects the confidentiality shared in your emails.

5. Minimize sharing attachments in the email

Emailing is a multi-purpose task. We often share attachments like resumes, business proposals, applications, etc. Well, it doesn’t seem, but it is not safe to do so. There is a valid reason behind why I am telling you to do so. The data in the attached file cannot be scanned by encryption or antivirus software, but they can be seamlessly accessed by hackers roaming around in the cyber world.

Here is a list of information you must not share via email at any cost:

• Account details (number, etc.)
• Credit card or debit card number
• Passport number or image
• Driving license numbers
• Social Security numbers
• National-Identity numbers
• Passwords or authentication credentials
• Legal and confidential documents
• Business sensitive information

Conclusion

Getting through the above article will help you avoid making any blunders while opening and sending an email. To ensure more email security, install antivirus applications and software, and avoid clicking on unique/URLs without even a second thought. Analyze the mail carefully. If you find anything fishy, immediately send your mail to the trash without clicking any link attached to the mail. The more alert and careful you are, the more protected your data will be. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Nowadays, people seek time-saving and easy-to-use accounting software with integration APIs, time and expense, and workflow capability. QuickBooks is one of the market’s most famous, easy-to-use, and entry-level accounting software. It is the most popular small business accounting software option today, with more than 3 million subscribers. It can handle a good chunk of your daily accounting tasks but has some limitations, which can pose problems for you.

If you want to find software other than QuickBooks, no matter the reason, we have got you covered in this article. This article has made a list of software that rivals QuickBooks in terms of features, interface, and value for money. We have provided all the reasons why you should choose each software, including QuickBooks. In this way, you will have all the information required for comparing the software. Hopefully, after reading this article, you will find the best software for your business.

In today’s digital age, accounting processes are getting increasingly more complex each day. Moreover, the customers’ expectations are also getting higher from their accountants.

Top alternatives to QuickBooks as accounting software and their key benefits:

FreshBooks

It is one of the best and award-winning software in the accounting sector. According to the experts, FreshBooks can turn complex financial management into a smooth and straightforward experience. They also offer a free trial, so if you want to check the features yourself, you can try them out. You can use this time to check if this software matches your business needs.

This software allows the business owner to manage invoices and track and collect payments from a single platform. It works and collects payments smoothly from payment gateways like PayPal, Google Checkout, major credit cards, and many business applications. It gives you complete financial control without maintaining a complex manual system.

It also makes paying bills easier as it becomes easier to track invoices and pay any due amount. Moreover, you can set automated overdue payment notices to remind the clients of their scheduled payments. It is best for freelancers and sole proprietors as they can set it up quickly. 

Wave Accounting

If you are on a tight budget but still want to use software, Wave Accounting is the best choice. It is free cloud-based accounting software. It is best suited for freelancers, sole proprietors, and small businesses that need all the accounting software features like double-entry accounting, purchases, banking, and decent reporting but don’t have the budget to pay for software. Wave is best for businesses that offer services rather than products, as it does not provide management capability and inventory tracking.

NetSuite ERP

It covers many business processes, such as vendor management and purchasing, fixed asset management, and warehouse management. It helps to streamline different business operations from a single platform. It is enterprise resource planning software that helps to grow mid-sized companies and large enterprises.

Sage 50Cloud Accounting

It is a hybrid application that offers the reliability of desktop applications with remote access options. It is best suited for small businesses and the more tech-savvy.

This software has many good features, including good customer management, sales tracking, a sound inventory management module, and purchase orders.

It offers two payroll options: Essential payroll for up to 15 employees and Full-Service payroll, which suits large businesses.

One of the best benefits it offers for small businesses is its scalability. It has three plans available. Sage 50cloud Pro accounting is a single system user that runs $340 per year. Sage 50cloud Premium accounting supports up to five users and ten companies and costs $510 per year. Sage 50cloud Quantum accounting supports up to 40 system users and costs $842 per year. It also includes vendor payment and bank feeds. They also offer customized reports in a variety of categories.  

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

There are various methods to delete or remove your unapplied cash payments, income, and expenses in QuickBooks. You must go to the sales menu, and then you must select the customers. After that, you must choose the name of the customer you want to remove. It is present in the transaction on the list tab. Then, you can go to the transaction list tab and click the payment. Also, you must go further to the bottom, and there is a delete option. Two options are yes and no, and obviously, you must delete that cash payment by pressing yes to confirm it. Cash associated with unapplied amount is that income from the customers, or you can say that the customers paid that. So it is that payment received from the customer, which is still not applied to any of the sales but is recorded in the account. You can also say that it is the situation in which you took the money from the customer, but still, it declares the sales form.

 

Apply for Bill Payment

Sometimes, an incorrect amount is added to your account, and now you must remove that payment before it mentions your taxation or any other matter. So, there are several methods you can remove it. It is equal to cash payment income, known as the expense side on the other side. So, first, you must take note of the vendor and mention the amount entered in your bill payment. There is an option called to create an icon, and then the second option is to pay bills. These two options are present there; if you see that your accounts match the total payments that are present in the list, then there is an option known as checkboxes, and you must check that after that procedure is done. You must press your choice, which is called save. Suppose there is no matching bill for your payments. In that case, there is another option for you. That is, you can create an icon, and then another option calls for bills to fill out the form. There are certain vendors, amounts, and dates that have them. So, fill them in the state as the bill payment.

 

Invoice Report

You can see an unapplied cash payment income if you run a profit and loss report using the cash method. QuickBooks itself creates unapplied cash payment income for text reporting correctly. And sometimes, unapplied cash payment income appears on your report. There are several reasons for that. For example, if a customer paired you several times, you could say that a customer prepared you and recorded the payment without filling out the sales form. Then, it may appear as unapplied cash payment income on your profit and loss. Also, it may occur if you enter a customer’s payment without matching it with the sales form. There are a lot of methods through which you can solve this unapplied cash payment income problem on your profit and loss report. Running the open invoices report is perfect for resolving unapplied cash payment income on your profit and loss report.

Several steps are involved in running the open invoices report. First, you must go to the words, and there is a field known as an acceptable report by name, where you must enter open invoices. Then, you must set up the account. There is a box that is mentioned or named as the run report. You must select the run report option, and there is a column called the transaction type column. You must locate a transaction that mentions a payment there. If a transaction or payment matches an open invoice, open a satisfactory report by name field and enter open invoices. Still, you can set up the account if you do not see an available matching invoice. After that, you can select the run report option.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Technological information practices are evolving in the public sector and making their operations more efficient. With new systems and skills embedded in these modernized systems, the public sector organizations’ operations have become more outcome-oriented and performance-driven.

Based on extensive innovative models for IT infrastructure management, government sectors are now implementing more technology advancements in their ranks.

In hindsight, ITaaS, or IT as a service, is a commodity-based method of delivering IT services to consumers and aligning these services with cloud computing. In other words, cloud platforms provide public sector organizations with the benefits of the on-demand pay-as-you-go model, which follows service-level agreements.

Putting things into perspective, implementing cloud platforms feels like buying service level agreements (SLAs), not a person. Considering that SLAs are essential for the model, let’s look at them in detail. SLAs consist of agreements between the customers and the service providers regarding the scope, quality, and responsibilities of the providers.

SLAs also include other factors such as the definition of terms, termination of terms, etc. However, the most important metric is response time, which measures the mean time to respond and resolve. For many cloud service providers, meeting SLAs means customers can call 24/7 to learn what is happening around them.

The public sector technicians can also manage the servers and ensure that everything is up and running according to the SLA standards.

Different implementation factors are required to transform the public sector’s infrastructure to ITaaS. One significant factor is cloud adoption, which requires extensive support operations after the transition. Moreover, you can save efficiently on infrastructure costs, which is an essential benefit of ensuring a cloud-based turnover.

Nonetheless, many organizations fail to understand the importance of baked-in support costs provided by default in the existing data centers. For instance, during the initial transition stage of the data center to the cloud, the agencies witnessed that the usual servers, which cost $1,000 a month, only cost about $43, excluding the maintenance cost.

There is also the lack of understanding that early adopters faced during their transition to the cloud, which is why those organizations may have paid a bit more than usual. Not to mention, the labor cost associated with the transition was further hidden during the legendary move.

Some companies, such as Aquilent, have been on the leadership board in cloud platforms ever since 2009. These companies have witnessed the evolution of disparity between the growing savings to the cloud with additional costs, such as labor. In other words, a federal agency may have to bear around $3,000 per month for running ten servers after the transition. However, they may have to spend $15,000 every month with the additional labor costs.

It does not work well since you expect cloud platforms to save a lot of money. Nonetheless, with the ITaaS model, federal agencies can better gauge their needs and reduce costs. For instance, the Aquilent model has a fixed rate per server, which is not a significant disparity considering that you must support and host the servers themselves.

Government officials do not need to be convinced about the importance of emerging technologies such as cloud-based systems. On the other hand, they are eliminating their data centers and drastically shifting to the cloud to save money. However, they must also address their labor costs with other cloud benefits.

However, the ITaaS model has three main benefits: scalability, predictability, and pay-as-you-go pricing structure. However, transitioning your agency to an ITaaS model doesn’t happen quickly. It requires an integration of people, processes, and governance; no matter how beneficial it may be, change always brings challenges.

In response, contractors are offering agencies new options. For example, they charge monthly rates to use servers of all sizes without requiring any further commitment. Agencies are buying a high-value service, not another pair of hands.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.