Outsourced Accounting Archives - Wiss & Company, LLP

End Technology Whiplash With Cloud-Based Accounting

Written on February 9, 2023. Posted in Outsourced Accounting & Tax, Technology.

By Carolyn Hall In a world defined by technology, it can often seem like everything is moving at lightning speed. Industries get transformed before our very eyes, making the world as it was five years ago almost unrecognizable. This revolution is now reaching into some of the most unexpected places and departments in companies — like accounting — and shaking things up. As a result, technology has created the need for new hard skills and soft ones. It’s enough to make your head spin. Understandably,...

Make the Outsourced Accounting Transition and Watch your Business Soar

Written on September 29, 2022. Posted in Outsourced Accounting & Tax.

By Carolyn Hall Many companies consider outsourced accounting services at some point in their development, whether it is to support growth, improve efficiency or simply ease the administrative burden on their staff. There are a number of advantages, but it is a big decision to outsource part of your operations. Here are five key reasons to consider making the transition. With that responsibility out of the way, you can focus on your core strengths. The primary reason to consider...

Changing Overtime Rules? New Recommendation Could Change Who Qualifies

Written on May 30, 2017. Posted in Advisory Services, Outsourced Accounting & Tax.

By Laura Melville Under current regulations, employees are exempt from overtime pay if they meet three criteria: the employee must be salaried, perform executive, administrative or professional duties, and earn more than $455 per week, or $23,660 per year. The current salary threshold was enacted in 2004. But that salary threshold could be increasing, as the U.S. Department of Labor last year recommended raising the salary criteria to $913 per week, or $47,476 per year. (The rule...

How to Make Sure Your Bookkeeping is Efficient and Accurate

Written on September 13, 2016. Posted in Outsourced Accounting & Tax.

By Laura Melville Updated 7/30/2019. Get organized. Stay timely. Be informed. These three mandates can change the way you manage your books and free you up to focus on other tasks needed to grow your company. Here are some effective bookkeeping strategies to help keep your business on track. Understand and communicate the importance of timely and accurate financial reports Make sure responsible parties are trained on how to keep records, how to create reports and when those reports...

Pitfalls to Avoid when Hiring an Outsourced Accounting Firm

Written on November 11, 2015. Posted in Outsourced Accounting & Tax.

By Carolyn Hall Accounting is necessary in any type of business to assess a company’s revenue and resources. In some instances, businesses simply do not have the manpower or ability to conduct their own accounting, thus triggering the search for outsourced accounting services. As a company begins this search for a firm to handle their back office function, there are a few standout pitfalls to avoid. Lack of transparency With today’s cloud technology, business owners should have...

Accounts Payable Software Could Help your Business Take Off

Written on July 16, 2015. Posted in Outsourced Accounting & Tax.

By Floriana Allen Your bill-paying process should not be confusing, labor-intensive or prone to error. That’s why we at Wiss & Company, LLP, use cloud-based accounting programs such as Bill.com for our clients. It’s an ideal tool for handling your accounts payable workflow, and the software syncs with many leading accounting systems, allowing accountants and clients to stay involved in the process in real time. Here are the some of the advantages of the system. The software...

Employees or Independent Contractors? Here’s How to Differentiate

Written on June 2, 2015. Posted in Outsourced Accounting & Tax.

By Donna Woronka You think you’ve hired an independent contractor, but the IRS or State Department of Labor may see that you’ve hired an employee. If there’s any uncertainty, chances are good that you’ll lose that argument, and at a high cost in back payroll taxes and penalties. That’s why it’s critical that you understand the differences between the two legal classifications and that you keep your independent contractors independent. Here are some questions to help you determine ...

Tag: Outsourced Accounting

End Technology Whiplash With Cloud-Based Accounting

Changing Overtime Rules? New Recommendation Could Change Who Qualifies

How to Make Sure Your Bookkeeping is Efficient and Accurate

Pitfalls to Avoid when Hiring an Outsourced Accounting Firm

Employees or Independent Contractors? Here’s How to Differentiate

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