By Pavan Sharma, Partner at BCL India. It has been slightly over 100 days since the lockdown was announced in India. The pandemic shows no signs of receding or flattening yet. As the fight continues, we are constantly reminded that we battle on two fronts – health and economics. I am no expert on health, […] The post The Emergency Credit Line Guarantee Scheme appeared first on QuickBooks ..read more

By Arijit Datta FCCA, Fincap Consulting This article explains why, as a Business or a Start-Up should migrate from a traditional desktop-based accounting solution, to leverage on the latest accounting technologies. Think about when we use internet banking. Every time you access this data, you’re using the cloud. Cloud technology offers a platform to make […] The post Why switch to Cloud based Accounting Platforms? appeared first on QuickBooks ..read more

In this article, you will learn: Little Or No Automation Software Demands Too Much Time No Support For Multi-Currency Transactions Limited Third-Party Integrations No Frequent Updates No Mobility Imagine its that time of the year when your accounting firm is loaded with filing annual tax returns for your clients. There is already too much to […] The post 6 Signs Your Business is Ready to Upgrade its Accounting Solution appeared first on QuickBooks ..read more

In this article, you will learn: Use of Right Technologies Digitization of Documents Use Secure Cloud Computing Tools Use Alternative Ways To Audit Inventory Coronavirus pandemic has changed the way businesses and accounting professionals are working across the globe. Social distancing, lockdown, and travel bans undertaken by the government have made firms resort to remote […] The post How to Conduct Remote Auditing Effortlessly Amidst Crisis? appeared first on QuickBooks ..read more

In this article, you will learn: Online Client Onboarding Shift to Cloud-Based Accounting Virtual Communication and Collaboration Building Effective Remote Teams As per a survey, the accounting firms who were able to respond to COVID-19 successfully were the ones using cloud-based technology and offered virtual collaboration tools to their clients. The outbreak of COVID-19 has […] The post Future of Accounting Profession Post COVID-19 appeared first on QuickBooks ..read more

In this article, you will learn: How to Structure Your Accounting Firm? Key Roles For Modern Accounting Firm Until now, staffing in accounting firms has been defined by traditional pyramid structure including the partners at the top level, managers at the middle, and associates at the bottom or entry-level. Such a structure proved advantageous for […] The post How to Structure your Modern Accounting Firm? appeared first on QuickBooks ..read more

To guide auditors as well as chartered accountants, ICAI has developed an advisory note on the ‘Impact of the Coronavirus on Financial Reporting and the Auditor’s Consideration’. The following are the key areas that require particular attention of the business entities in respect of financial statements for the year 2019-20. Inventory Measurement Due to the […] The post Impact of COVID-19 on Financial Reporting appeared first on QuickBooks ..read more

In this article, you will learn: Key Employee Retention Strategies Employee Engagement Training and Development Compensation and Rewards Give Realistic Job Details During Recruitment Use Biodata While Selecting New Employees One of the major costs of running a small and medium-sized business involves recruiting and hiring the right talent. Thus, letting go of an employee […] The post Employee Retention: Top Strategies for Retaining Talent That Matters appeared first on QuickBooks ..read more

In this article, you will learn: Tasks That You Should Automate Email Automation Automating Bookkeeping Tasks Switching to Cloud-Based Payroll Automating Project Management Preparing and Communicating Performance Indicators Tasks That You Should Not Automate Skill-Based Work Establishing Human Relationships Getting New Clients If you are a small business owner, you face the challenge of your […] The post Automation for Small Business: 8 Tasks You Should and Should Not Automate appeared first on QuickBooks ..read more

In this article, you will learn: When to Combine or Segment Construction Contracts? What Constitutes Construction Contract Revenue and Costs? How to Recognise Construction Contract Revenue and Expenses? Other Challenges It is indispensable for the construction companies to implement procedures for project control as well as keep accounting records. This is because such records act […] The post How to Overcome Construction Accounting Challenges in Three Key Areas? appeared first on QuickBooks ..read more