Whether you have an in-house, full-time accounting team, a fractional accounting assistant, or a CPA that only comes around during tax season, a business accountant is a huge asset to your company. Accountants provide key financial counsel throughout the whole year—not just during tax time or audits.

Enterprise resource planning (ERP) systems provide enormous benefits to growing companies. Different from more basic accounting software, ERPs centralize data, information, and processes from every department in a company within one system.

Running and managing a business relies heavily upon reporting. Business owners and executive teams cannot confidently make organizational decisions without the foundation of data and reports to rely on.

Often, the terms “financial forecasting” and “financial modeling” are used interchangeably. Though there are similarities between the two, each serves a specific purpose for the long-term health of a business.

If you’re a business owner, you may already have some exposure to companies that provide services through an outsourced model—perhaps you’ve sought out contractual or fractional work to save on hiring costs. You may also have a good idea of the role that a CFO or other high-ranking financial executive plays in a company.

Efficiently managing your business could not be done without some form of financial reporting. Business decisions are more easily made when supported by accurate, timely, insightful financial reports.

We’ve discussed the preventative measures your business can take to weather the storm of a recession. However, what if the current recession has already affected your business, either through a decline in profits, a decreased headcount, or slower collections? When businesses are trying to stay afloat in an economic downturn, operational restructuring can be a rescue tool.

No business owner wants to think about a looming recession when there is already a long list of responsibilities to worry about day to day. Unfortunately, economic downturns are inevitable, presenting harmful short- and long-term societal and economic repercussions.

For small- and medium-sized businesses, cash is king. When times are tough, and when the market shifts, steady cash flow and liquidity can help your business continue to pay its expenses and make payroll on time.

Though running your own business is rewarding, keeping up with the company’s finances can prove to be a stressful experience for every business owner. This stress, however, can be greatly minimized by periodically performing a financial clean-up.