posted by Administrator on Apr 10
Fast Accounting Procedures for Control and Compliance
Now you can quickly protect and control your business assets with easily editable accounting policies and procedures.Sarbanes-Oxley Section 404 Compliance
The Bizmanualz Accounting Policies and Procedures Manual can help you establish a strong internal control system to comply with Sarbanes-Oxley section 404.
With these prewritten accounting procedure statements, you will learn how to improve accounting department controls for Sarbanes-Oxley 404 compliance, how to improve the performance of business finance and credit, how to manage shipping, purchasing and receiving, and how to manage cash operations.
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posted by Administrator on Nov 10
As much as possible, make it a goal to convert to electronic invoicing. If you will receive invoices electronically, the mail time will be cut to almost none. Also, an electronic audit trail will put an end to finger pointing (as to who posted the double payment).
Insist that your processors employ rigid coding standards upon processing invoices. This should conform to the original naming standards that are used when the master vendor file is set up and the new vendors are added. Then focus on how your processors enter the invoice numbers. Companies taking this very simple step will find that duplicate payments will be almost eliminated.
posted by Administrator on Oct 10
In the corporate world, there are a lot of duplicate payments in accounting that are made. While you may think that the vendors would return it, you may be shocked to find that only a few will do. While some credit card companies or utilities will usually carry your balance forward to the next month, not all creditors are so magnanimous.
To stop this from happening to you, first you have to recognize your potential for duplicate payment system. Then, have all the invoices sent to accounts payable first. This will get the invoice into the process and would immediately provide the best information for identifying duplicate invoice.
posted by Administrator on Jul 10
When an employer asks a woman on her plans in giving birth in the near future, this too is a major no-no. they would want to hire people that are efficient enough and would become more economical for them to have an output rather than giving a person a paid maternity leave instead.
First of all, it is down right discriminatory since it is an essential part of a female being, and would entail her freedom over her own body; and secondly, on the basis of disability, where there is an assumption that disabled people cannot give output as what their capable counterparts can offer. They can be sued for doing such acts.
posted by Sherill on Oct 8
www.books2taxes.com
Data security covers data transfer – which is critical to any company since the files would contain sensitive information. So in choosing a good accounting outsourcing company, you should make sure that they have the technology for security of data transfer.
Another component is the security of work station – which may provide firewall protected network, no use of external drive, and limited internet access to employees to ensure that data will remain intact inside the office. Employee credibility should also be looked at to vouch for data integrity.
Once the project is complete, both parties should evaluate whether the result has met their standards, and should discuss the problems that happened along the way to enhance future projects.
posted by Administrator on Aug 25
Professionals who are taking care of your financial records and providing a report at the end of the fiscal year are called bookkeepers. They usually provide their expertise on tax assessments and tax filing. Bookkeeping is done on a daily basis, and any type of business will not be successful if the bookkeeping records are not properly maintained.
Bookkeeping is a very tedious and time-consuming task, but it has to be done because it is essential for business. To lessen the expenses, it is now legal to outsource this service. Some would even go further and hire an online outsourced bookkeeper.
posted by Sherill on Jul 28
www.thepremiergroup.com
Many companies nowadays look for online accounting service in their effort to be more efficient. Also, there are a lot of companies offering online accounting service as well. To be more cost-effective, companies would rather use these online resources rather than hire their own accounting staff. They outsource their whole accounting system or even just a part – inventory reconciliation, tax services, VAT services, credit card, budgeting and bank reconciliation.
If companies hire an online accounting service, they can save on hiring costs and training costs. Most importantly, they can dedicate more time to their core company tasks and other activities that will bring more income back to the company.
posted by Administrator on Mar 10
You’re a certified public accountant, but haven’t really gotten into a job? Here’s the article for you. The U.S. of A has been clear in its fight to stop discrimination and the like, but there are still a number of employers who prefer people based on their religion, race, or even gender and sex.
For the series of posts for this month, we will tackle several questions an employer should not ask an applicant on issues such as gender, and other factors such as disability and religion. America has been always regarded as the land of the free and has the highest tolerance to other people. But in the workplace, it seems to be a little different from what they are preaching, most especially these human resource developers – seeking efficiency more than other traits in a person, but the said traits/issues should not factor in according to several laws and also in the Amendments of the United States of America.
posted by Sherill on Dec 26
Working as an accountant, you are handling information that is vital to a firm’s overall function. Improper accounting practices have resulted in many high-profile cases of insider trading, accounting information manipulation and other crimes that have resulted in jail-time. Recently, companies that have received bailout funds from the US government have been found to use them for bonuses whilst the company has already declared bankruptcy. All these facts and information are witness to many a crimes that have gone unnoticed well till somebody found the anomalies and reports them.
Accountants are some of the most used people in such cases for they have the ability to manipulate ever so creatively the records so do be aware of such cases and abide by the law. You are obligated first by the company to do your job and the law to report any anomalies that may make or break your firm. Though mostly despised and black-listed in the industry, whistle-blowers are the first to raise the red flags that causes the investigative wheel to grind and work.
posted by Administrator on Aug 19
Image source: www.exagos.com
In 2002, the normal wage and salary annual earning of an accountant is $47,000. The middle half of the occupation earned between $37,210 and $61,630. The top 10 percent of accountants earned more than $82,730, and the bottom 10 percent earned less than $30,320. In 2002, normal annual earnings in the industries employing the largest numbers of accountants and auditors were:
Federal Government $51,070
Accounting, tax preparation, bookkeeping, and payroll services $49,520
Management of companies and enterprises $49,110
Local government $44,690
State government $42,680
In the Federal Government, the starting annual salary for junior was $23,442 in 2003. Candidates who had a superior academic record might start at $29,037, while applicants with a master’s degree or 2 years of professional experience usually began at $35,519. Beginning salaries were slightly higher in selected areas where the prevailing local pay level was higher. Accountants employed by the Federal Government in non- supervisory, supervisory, and managerial positions averaged $69,370 a year in 2003; auditors averaged $73,247.