PABS
410 companies within the construction sector became insolvent. Infact, the construction industry ranked 2nd, contributing 16% of US business insolvencies. Amidst overgrowing project backlogs, slow-paced collections, and retainage requirements, you constantly struggle to manage debts. Along with poor financial management, another reason for this alarming trend is that you mostly purchase construction materials in bulk […]
Account reconciliation plays a major role in improving the bottom line by double-checking deposits, bill payments, and other financial transactions, ensuring every cent of your money is where it should be. In essence, reconciliation ensures consistency and accuracy through meticulous comparison and verification of cash deposits, merchant accounts, bank statements, vendor statements, general ledgers, purchase […]
Accounting is a vital thread for all nonprofit organizations, including Junior Leagues. However, it’s significant to know that all threads are not woven same. In the realm of nonprofits, accounting practices of Junior league stand out as a distinctive approach. Let’s delve into unique approaches that shape accounting and financial management of Junior Leagues and […]
What’s the secret key to knowing your restaurant is thriving? When your tables are booked every night with guests on the waiting list Your business listings are filled with positive reviews and 5-star ratings. Your staff wears a smile of job satisfaction… Yes, these telltale signs signal that you’re running a healthy business. But what’s […]
93% of accounting firms faced delayed accounting tasks due to staffing shortage With the advent of technological advancements and evolving landscapes, accounting firms continually seek innovative strategies to streamline operations and boost efficiency. This dynamic sphere presents an array of back-office services, propelling firms to explore new horizons. This is the reason why the Build […]
You receive donations or grants designated for a specific purpose that you have to spend within a calendar year. For instance, if you receive a donation explicitly for cancer-suffering children, you can’t use that fund for HIV or any other life-threatening diseases. As you are not free to use funds however you please, it is […]
Accounting takes center stage in the nonprofit world, where donations and grants are the lifeblood of operations and program funding. Here, accounting functions as the North Star, guiding organizations through the complex terrain of financial management. In a quick Google search of “What should I expect from nonprofit accounting,” numerous tasks emerge in the results. […]
