January 13, 2025
Charles Lutwidge
Internal Audit vs External Audit: Which is Better?
Keeping a company’s financial statements in order facilitates ensuring compliance and avoiding hefty fines. Achieving sustainability requires firms to increase the accuracy of manual input and use workflow automation tools to expedite processes. In this guide, we will compare internal...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
January 08, 2025
Charles Lutwidge
Best Practices for Vendor Master Data Management
Vendor master data management facilitates collecting detailed information about suppliers. Establishing lasting relationships with business partners empowers companies to achieve sustainable growth. Recording contact details without mistakes allows ventures to keep in touch with exporters and solve issues without delays....
December 30, 2024
Charles Lutwidge
What is Electronic Funds Transfer?
Electronic Funds Transfer (EFT) is a digital process of sending money between two accounts. The popularity of this intuitive approach among consumers and enterprises is expected to increase, as it does not require using checks or other outdated methods. Every...
December 26, 2024
Charles Lutwidge
What Is Return on Investment (ROI)?
Return on Investment (ROI) is a commonly used metric that facilitates the measurement of financial yield. Enterprises utilize it to analyze whether they allocate resources wisely and develop effective strategies to increase gain. Learning how to deploy innovative methods to...
December 19, 2024
Charles Lutwidge
What are ACH Returns?
Making direct payments secure requires using the ACH system managed by the National Automated Clearing House Association (Nacha). Unlike regular wire transfers or cash remittances, ACH operations are considered better protected and more streamlined. When they fail to get settled,...
December 18, 2024
Charles Lutwidge
Improving Law Firm Accounts Receivable Management
Legal practitioners face a laborious endeavor when trying to close out their books without any issues. Achieving sustainable development necessitates embracing an effective approach to managing outstanding invoices. Entities facing payment delays must address cash flow problems to meet obligations...
December 13, 2024
Charles Lutwidge
Navigating Trust Accounting for Lawyers: Attorney’s Guide
In law firms, where every decision and action carries serious consequences, trust is the cornerstone of the lawyer-client relationship. Today, lawyers have not only the authority of advocacy but also the duty of financial guardianship. Trust accounting is fundamental to...
December 10, 2024
Charles Lutwidge
Ultimate Guide to Coding Invoices
Invoice coding involves categorizing spending and assigning them to particular accounts. At first glance, everything seems elementary, but such a process is often skipped when working with accounts payable (AP) or accounts receivable (AR). However, such neglect can cost more...
