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Numbers Made Simple: AI Tools For Accountants and Financial Analysts

Magellan Solutions

The finance and accounting world is undergoing a technological revolution. As a business owner with an accounting practice, you can use Artificial Intelligence advances to transform your work processes. We’ll explore how AI tools can benefit the finance and accounting industry.

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Outsourced Accounting Services vs. In-House [Pros and Cons]

Intugo

Outsourced Accounting Services vs. In-House [Pros and Cons] Effective accounting is essential for the smooth functioning of any successful business. As companies navigate the complex landscape of financial management, a key decision arises – whether to opt for outsourced accounting services or maintain an in-house team.

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Efficient Invoice Data Entry Services for Error Free Accounting

Magellan Solutions

It’s no surprise, given over 60% of enterprises struggle with capturing and processing their invoice data—wasting up to 9 days per month on repetitive manual tasks just to keep up with invoices. The goal is to drive higher productivity and error-free accounting. This is one of the causes of delays in processing and payments.

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Netsuite vs. Quickbooks: Accounting Software Comparison

inDinero

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. However, even with an accountant, you still need a way to keep records. However, even with an accountant, you still need a way to keep records.

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Accounting Outsourcing Best Practices: How to Ensure Success

Paysquare

Outsourcing accounts have gained popularity because of several factors. It allows businesses to focus on core competencies while delegating non-core accounting functions to specialized experts. Outsourcing provides access to advanced accounting technologies and expertise that may be otherwise difficult to obtain in-house.

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Accounting AI’s Inherent Problems and How BPO Solves Them

Magellan Solutions

The Problem with Accounting AI and the Role of BPOs. Over 70% of leaders in finance and accounting, advisory and tax services, think that Artificial Intelligence (AI) will affect data-driven insights, according to the EY 2020 Global Tax and Transformation survey. The need for AI specialists and accountants is growing.

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Cash vs. Accrual Accounting

inDinero

However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. For instance, why is it essential to select between cash and accrual accounting methods? What sets cash and accrual accounting approaches apart? What Is Cash Basis Accounting?