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​In Pursuit of Profit

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10/17/2020

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Cyber Security Best Practices for Your Company’s Financial Data

 
cyber security best practices
Cybersecurity is always vital, but in recent months it has become more critical than ever before. In the wake of the COVID-19 pandemic, hackers and fraudsters have capitalized on the disruption and increased their efforts to steal personal and business data. According to Jeff Bathurst, cybercriminals have used this as an opportunity to prey on companies that were not fully prepared to work in a completely remote environment. The pandemic quickly magnified any cybersecurity weaknesses that businesses had, and immediately after the pandemic hit, there was a 40% increase in cyberattacks. In April alone, criminals stole a staggering 220 million company and personal records.
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But pandemic or not, cybersecurity should be a top priority for every company. Understanding where your business is vulnerable and what it can do to stay protected will help you avoid cybersecurity issues. 


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8/26/2020

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Does Your Bookkeeper Need Small Business Experience?

 
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Do you need to hire a bookkeeper? If you are asking the question, the answer is yes!
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Most commonly bookkeepers are brought in due to lack of time, lack of financial expertise, or growing business complexities. Whether a bookkeeper is freeing up time for an owner to engage in revenue driving activities or providing deeper financial knowledge, this professional role can be a crucial hire at a growing business.

When you are looking to hire a bookkeeper for your small business, will any bookkeeper do? Or do you need a bookkeeper that specifically works with small businesses? And, what can a small business bookkeeper offer that you cannot do yourself with QuickBooks or another accounting software? 


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6/19/2020

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The Challenges of Managing Remote Workers

 
​With much of the workforce doing their jobs from home right now, managers are becoming keenly aware of the challenges related to overseeing employees remotely. Overcoming these challenges is essential for maintaining existing revenue streams and improving future profitability. Leadership that understands how to manage the complexities of a distanced workforce effectively will be more successful than those that try to adapt in-house techniques for remote workers.  
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2/13/2020

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8 Types of Internal Control Accounting Systems

 
8 Types of Internal Control Accounting Systems
Business leaders understand it is essential to have accurate financial data to drive operations and measure success. However, without the proper controls in place errors, fraud, and other issues can occur, hindering operational efficiency and growth. While some small business owners assume internal control systems are only designed for larger organizations, these functions are crucial for companies of all sizes in all industries.

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7/22/2019

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6 Tips for Organizing Business Receipts

 
6 Tips for Organizing Business Receipts
Many business owners struggle with back-end office organization, especially regarding financial items like business receipts. ​The problem is two-fold: most business owners underestimate the importance of business receipts, and receipts are hard to organize manually.  

While it is advisable to keep all purchase receipts – personal and professional – a desire to reduce paper clutter and make the right choice environmentally has many people skipping the receipt altogether or asking for an emailed copy. 

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4/29/2019

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How to Spot Asset Misappropriation

 
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​Asset misappropriation is a fraudulent activity that occurs when a company’s assets are stolen or diverted for personal use. Typically, misappropriation that involves cash is easier to identify while non-cash misappropriation is often harder for businesses to recognize. While all misappropriation can hinder cash flow, large-scale asset misappropriation can also lead to fines and penalties as a result of errors on financial statements and tax filings.

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