As artificial intelligence works for every industry, it certainly has a significant impact on the accounting and finance industries as well. Ranging from saving time and money and providing insights, AIs are professionals in accounting and finance and will attract the next generation of employees and clients. What is Artificial Intelligence in accounting? In the […]
Bookkeeping is a crucial aspect of any business, and the construction industry is no exception. In fact, bookkeeping for construction businesses can be particularly challenging due to the unique nature of the industry. With multiple projects running simultaneously, numerous subcontractors to manage, and a constant influx of expenses, keeping track of financial records can quickly […]
Every trucking business owner/operator needs to understand bookkeeping. Luckily, you don’t need an accounting degree to handle this aspect of the business, for this we are. Some tips for handling books correctly: Go Digital: Because paperwork takes up too much space and your day-to-day workload can be cumbersome rather than organized. Hence financial […]
Choosing how you structure and manage your law firm is one of the most important decisions your business makes. How will you accept payment? How will you manage trust accounts? And what accounting practices would you use to cut taxes and costs? It all depends on you. Properly setting up your finances on time will […]
eCommerce businesses in the USA eCommerce businesses in the USA are estimated to reach a whopping $476.6 billion in 2024. These stats alone showcase that the e-commerce business in the US is growing strong each day and is not going anywhere anytime soon. With that being said, let’s take a look at the operational side […]
To run any business smoothly one has to work on an extended and careful plan and Mindspace Outsourcing Services can be MasterChef of your Restaurant bookkeeping. Especially for restaurants because of their large-scale daily sales and because of this their accounts are volatile. Frequent change in the cost of food items, seasonal availability and rapid […]
Bookkeeping outsourcing services are in great demand in countries like USA, UK, Canada and Australia. Therefore, with the increasing availability of efficient and affordable services from countries like India, they want to reach their businesses on a wider scale. Many of us may have noticed the trend of opting for outsourcing accounting services in India […]
Accountants go beyond the lengths of taxes and bookkeeping; they are an essential element of the financial advising team, helping you navigate important business decisions that impact your finances. Not only that, but an accountant may also even assist you in the loan process, review your documents and contracts, help your business with estate and […]
Looking for a real-time view of your finances? Want to do a scenario analysis based on the what-if’s to make more confident and informed decisions? Here’s the perfect way to cash flow forecasting you can trust:- Cash Flow Forecasting with Float By integrating seamlessly with your accounting system, Float can help you understand […]
Sales taxes are different from city to city, town to town, and state to state and as we know, calculation of taxes is not an easy task. Sales tax is generally calculated by multiplying the purchasing price by the applicable tax rate. The seller or vendor collects it at the time of the sale. […]
As a real estate business owner, it’s essential to understand the Real Estate development accounting principles and practices for your industry. Proper accounting not only helps you track your financial performance, but it also helps you make informed business decisions, plan for future growth, and comply with regulatory requirements. In this post, we will provide […]
Just over 53% of businesses have integrated the cloud into multiple aspects of their operations, such as client communication, project management, accounting, etc. With today’s valued-crazed and fast-paced business environment, accounting work is no longer limited to the traditional 9-5 job. Traditional accounting software is seen as cumbersome for small and medium businesses because they […]
The Corona pandemic has placed unprecedented stress on the accounting and taxation processes. The epidemic has not only affected the field of business management, but even businesses that were well-established organizations, performing in the market for so many years and which were considered highly stable against recession, were also adversely affected. Millions of people have […]
COVID-19 has left the very foundations of global financial markets in a state of recession. The effects of this epidemic are increasing day by day and the undisclosed arrival of the Corona outbreak has caused major losses to small accounting firms. At Mindspace US we provide accounting and outsourcing bookkeeping services for accountants. So today […]
Zapier, an automation tool, can help you tie together two or more web apps to leverage their functionalities in an almost automatic way. This essential time-saver tool assists accountants focus on their most important work by saving time through the means of automation. Much like any other tool, Zapier is also a part of […]
It’s the middle of 2020, and there’s no time like RIGHT NOW to get your money sorted. It is necessary to stay on top of your budget, but you have got to start somewhere, right? Sure, you know the ABC’s of sorting your finances, but sometimes it gets a little overwhelming, and you tend to […]
Virtual accounting departments are difficult to set up because of the logistics of obtaining and then returning the receipts of the departments you are trying to provide services for. In traditional accounting companies, you would have a drop and a physical location where companies and the organisations can deposit their receipts on a weekly and […]
Xero is the best accounting software globally. Xero accounting software provides many features that can help you analyze key parameters in a couple of minutes. Xero has grown from an accounting perspective to a small business, making banking relationships core to the small business community. The main features of Xero accounting software include automatic bank […]
Save one penny a day for a rainy day. – It simply means putting aside some amount of money that you can dip into later in case of an emergency. It can be used for car repairs, house repairs, an unexpected medical bill, paying for basics if you lose your job, and so much […]
Financial reporting and management reporting are two sides of the same coin One is the key to your business’s success, and the latter is key to your company’s operations and performance. Let’s dig in and understand the differences and why both of these reports are essential for the success and growth of your business. Financial […]