Accounting & Bookkeeping

Have you ever struggled to manage your financials as an independent contractor? If the answer is yes, you’re not alone. According to Freelancer Map’s 2021 study, 25% of freelancers consider accounting one of the greatest challenges of self-employment. 21% also said that trying to do their own accounting was one of the biggest beginner mistakes […]

By 2025, finance and accounting firms will lose 60% of their outsourcing contracts. That’s more than half of their usual patronage gone because buyers want more competitive prices and automated alternatives. And thanks to limited funds and less staff, small businesses are looking for even more flexibility. Outsourced bookkeeping is on the decline because it […]

If you’re sitting there thinking, But my bookkeeping is automated, I’m using a computer, it’s time to rethink what you know about automated bookkeeping. Using Excel spreadsheets and desktop accounting software might be more efficient than keeping a written ledger like an 18th-century shoemaker, but you’re still inputting and verifying your financial transactions manually. Bookkeeping […]

2021 is on track to be a record-breaking year for data breaches, with 1,291 breaches reported as of Q3 2021—and that’s after almost two years of reports citing an ongoing spike in cyberattacks since remote work mandates began. Even though cybercrime has been all over the news lately, small business owners often have so many […]

Small business owners spend too much time on their accounting and not enough growing their own businesses. Part of the issue is that the accounting and bookkeeping methods we use today are archaic — literally. In 1458, Italian merchant Benedetto Cotrugli standardized the practice of bookkeeping and accounting with the use of paper journals and […]

Many experts believe (and vocally declare) that every business needs a bookkeeper. We disagree. Technology’s capabilities have surpassed the need for human involvement in all but the most complex business accounting tasks. So, why do small businesses still phone bookkeepers to help them get organized and compliant? Because they’re in the dark, wondering, “What does […]

Warren Buffet famously says that “Accounting is the language of business.” The very best way to learn the language of your business — that is, accounting — is to hire an expert to both help and teach you. If you’re wondering how much does an accountant cost, though? remember, it’ll cost you to continue operating […]

Businesses never start out disorganized. Chaotic processes and records become that way over time. No matter how long it took for your accounting books to go from tidy to disordered, messy recordkeeping affects your company’s vitality. Research from office supply retailer Staples found that 53% of thriving or surviving businesses stated they had very organized […]

The 21st-century economy moves in real time. Why, then, do you still have to wait until the end of the month to see how your business’s finances are doing? The answer is, you don’t. Bank reconciliation is the act of matching and validating your bank’s transactions against those in your internal ledger. The only reason […]

There’s a difference between what you know about your business’s finances and what your bank knows. Balancing out the difference is a process called “transaction reconciliation.” Doing it manually sucks time, energy, and momentum out of your day-to-day. But with Neat, you can reclaim that precious time and energy by automating the task. The many […]