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Accounting firms have become an integral part of most businesses today. They primarily help a business keep track of its budget, thus assisting them in setting both, long-term and short-term financial goals. However, in today’s excessively competitive world, accounting functions have begun to diversify. New job roles like tax accounting, payrolls, financial advice, auditing, and bookkeeping have emerged.
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Connect with Sean on LinkedIn and Twitter. Subscribe: Listen on iTunes Listen on Google Play Dr. Sean Stein Smith, DBA, CPA, is an Assistant Professor at Lehman College in New York. He is a member of the 2017 AICPA Leadership Academy and was named a "40 Under 40" in the accounting profession for 2017 by CPA Practice Advisor.
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Over the past two years, the real estate industry has evolved beyond maintaining portfolios and properties. Associations and property management organizations alike are focused on growing portfolios and revenue to keep up with demand for more commercial and residential properties. Every process and payment comes at a price, however. Property managers are juggling the cost of maintenance, leasing, inspections, evictions, and more.
Over the past two years, the real estate industry has evolved beyond maintaining portfolios and properties. Associations and property management organizations alike are focused on growing portfolios and revenue to keep up with demand for more commercial and residential properties. Every process and payment comes at a price, however. Property managers are juggling the cost of maintenance, leasing, inspections, evictions, and more.
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The property management industry is struggling to find the solution to everyday property problems. Juggling transactions, financial statements, accounts receivables, and more isn’t easy. But the accounts payable cycle is the process that causes the most pain, especially for AP managers. Countless responsibilities make it nearly impossible to optimize the payable process that’s wasting valuable time and money.
As a first-time entrepreneur, starting a small business enterprise in Canada has its fair share of financial challenges which include controlling business costs, hiring employees, and generating sales invoices. While managing business accounts on your own can reduce your business costs, it is certainly not advisable unless you have a sound knowledge of how accounting and business finances work.
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