As long as you’re meeting basic legal and reporting requirements, how you manage your company’s accounting is up to you. Depending on owner preferences and business structure, it’s possible to scale your accounting processes up or down in complexity, as it fits the business’ needs. But that flexibility isn’t always a good thing. Some [...]
It seems as if there’s a new SaaS business that pops up each day. If you’re getting one started or have been operating one for a while, it can still be difficult to figure out how to account for your books, especially items such as COGS or even your sales. SaaS companies, in particular, [...]
Believe it or not, predictive analytics are a part of our daily decisions. Tech is embedded in our lives in such a way that society increasingly relies on it. Going out for a run? You probably check the weather. That app uses data sets and algorithms to predict the climate in your area. For [...]
Every SaaS business is looking for growth. Whether you’re at an early stage and recently funded or you’re further down the road, it’s essential to recognize what change looks like. This is where having a handful of KPIs to keep track of is extremely useful. However, due to the wealth of data that SaaS [...]
It’s no secret that artificial intelligence (AI) is making a huge impact in every industry including accounting. It presents founders and business owners with several benefits including: Provision of insights Real-time data and reporting Saving money, time, and effort One of the easiest ways for businesses to stay competitive is to make use of [...]
There are two common models used in scenario planning. It is either you make use of the driver-based model or the traditional model. The driver-based model focuses on identifying the key-value and business drivers of an organization. By so doing, it enables the business to create budgets and plans using the identified key drivers. [...]
Financial modeling is crucial for businesses, especially when circumstances change. The COVID-19 pandemic has left a lasting impact on the economy with businesses and governments facing uncertain times. This new normal has emphasized the importance of building business resilience. However, this can only happen if companies put [...]
As with any investment, if you’re buying, selling, or trading cryptocurrencies, any gains you make will need to be reported to the IRS. Because of the astronomical rise of cryptocurrency prices over the past few years, many early adopters have made huge gains — and the IRS wants their cut. Depending on how [...]
This is how the story usually goes. You’ve come up with the perfect idea for a new business. It’s such a good idea that you decide to start to seriously consider making it happen. Then after spending a considerable amount of time going over every possible scenario, you make a decision. You’re going to [...]
