The payroll processing servicesof a company refer to paying employees, calculating their salaries, benefits, taxes, etc. It is a process that requires considerable time, effort, and money to stay legally compliant and remove the layer of burden on themselves. When we talk about restaurant payroll, we need to consider several industry-specific laws. The complexity in a restaurant's payroll…

Since small businesses have limited resources, they were reluctant to subscribe to accounting software for their needs. It led them to spend more on inefficient and inaccurate bookkeeping and accounting processes because of the inherent disadvantages of traditional accounting. However, with the change in time, it becomes necessary for these firms to update their techniques. That is why multiple cloud-based accounting software has come up to cater to the accounting needs of small businesses.…

Accounts reconciliation refers to comparing the financial numbers recorded internally with external sources to minimize discrepancies and gaps. It ensures the accuracy of the data. Reconciliation occurs after a specific period (monthly, quarterly, yearly, etc.) based on a company's needs and demands. 

There are no limits to the processes where accounts reconciliation is…

The introduction of digitization in accounting has led businesses to expedite their processes and invest the saved time into more profitable opportunities. MYOB accounting software provides a one-stop solution to companies in Australia to manage their bookkeeping, accounting, tax, reports, and analytics. Since its design is by a local firm for local businesses, it understands the Australian legal regulations. It makes the filing process of Business Activity Statements (BAS) relatively smooth…

Every company has a massive accounts payable workload without leaving any room for errors and manipulations. However, some mistakes will happen whether you give them proper attention or not. Therefore, it becomes necessary to continuously monitor the common issues to avoid snowballing into a huge roadblock. If you wish to bring effectiveness to your payables and maintain healthy relations with suppliers, keep track of the following technical failures or human errors that may occur and how…