Finance & Accounting

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How to Add Incoming Invoices to your VAT return
Lovat Compliance LTD
380 Views · 1 month ago

⁣A guide on how you should fill in the information about your incoming invoices in the VAT return (Step 3).
Such information filled allows you to claim back (deduct) your already paid VAT from your VAT return. View More

uuFILTER - Desktop Fume Extractor - Mobilesentrix
653 Views · 1 month ago

⁣Mobilesentrix offers 2UUL uuFilter Desktop Fume Extractor. This is powerfull Suction Instant Purification. Triple Filter Design like High Power DC Brushless Motor Air Volume, Long Life, Low Noice Design. Air Volume Adjustable Directional Fust Adjustment, Positioning Freely. 100-240v Power, 13in x 9 in x 6 in Packing size, 7.16 lb Weight. for more 2UUL Product visit Mobilesentrix. View More

New feature from Track-Pod and Newland. You can use a mobile computer from Newland in your Track-POD
358 Views · 2 months ago

⁣New feature - you can use a mobile computer from Newland in your Track-POD ecosystem

Your benefits:
- 5-10 times faster than a smartphone
- ⁣You can scan in the dark - the device has a built-in flashlight
- ⁣Checking the availability of all goods before shipping to the client
- ⁣No more shipping errors. The courier is confident in the full availability of the… View More

Distressed Business Tactics: Financial Planning
381 Views · 3 months ago

Hi everyone, it’s Rhett at Basis 365 Accounting.

Here’s another video in our Tactics for Distressed Business series.

One of the first things to do during a crisis is to determine your financial position. Review your cash flow, cash reserves, and credit availability. The following tips will ensure your business has a plan and the cash to execute on that plan.

View More

What does an accounting department do
538 Views · 3 months ago

Accountants do many things for a business.

The most common understanding is that they record transactions from a bank or credit card statements and generate the income statement.

That’s a fairer summary of what a bookkeeper may do for a very small business that is only producing financials to help with a tax return and look at their basic revenue and expenses. Some basic… View More

Distress Business Tactics: Personnel
432 Views · 3 months ago

Keep people on the payroll that create and deliver what your business is selling and outsource the rest.

Need more advice? You can view the complete tactics guide here:
📲 View More

Reach out to your accountant during a crisis
202 Views · 3 months ago

Tough times require action and creativity. Financial information that's timely and accurate is going to be important to charting a course for your business. Remember to focus on only a small number of action items and focus on what you can control. Don't overwhelm yourself. We’re helping many of our customers to get through this with financial information but also bringing in HR,… View More

Cash Flow: Focus on Price
865 Views · 3 months ago

Focus on price. Have a few customers, our teams working with. Looking at cash flow and usually it's gross sales. Cut costs is to kind of go to things to improve cash flow. But those don't always work. Many times they don't. If your price is not high enough or other factors, pricing usually fixes everything. So as you're pricing your products, make sure you're meeting… View More

Accounting Partner Helps with Tax Stress
327 Views · 3 months ago

It's the beginning of March and we're working with a lot of our customers, tax preparers getting things in order for tax season here in March and April, talked a lot of potential customers frantically trying to get things in order, which is getting pretty close to last minute or or beyond. So as a tip for business owners, you know, reach out to an accounting partner, work with them… View More

Runway and Burn
432 Views · 3 months ago

Runway is a number that every business owner should know. Runway is how many months with your business would survive if no more revenue came in. A worst case scenario. The formula is your [(Cash + Accounts Receivable) / Monthly Burn]. Your monthly burn is your cash-basis expenses each month. That should be a number you should keep in mind to monitor cash and make sure your runway is what needs to… View More

Distressed Business Tactics: Cash Collections
364 Views · 3 months ago

A crisis can occur with any business at any time. So, we've developed some tactics to help keep your business alive in times of distress.

Need more advice? You can view the complete tactics guide here:
📲 View More

Problem-solving with prospective customers
464 Views · 3 months ago

We love meeting new people and learning about their businesses.

Our exploratory calls with prospective customers are all about problem-solving. It’s not about us, it’s about the business.

• What is their ideal accounting experience?
• Do they need to implement new solutions to streamline their accounting?
• How can we align their accounting information to their… View More

Business Continuity: Remote Working
985 Views · 3 months ago

Business continuity is important for any business, especially small businesses with limited resources and personnel. The Coronavirus is a huge issue, putting many businesses at risk. Today, we recommend looking at your systems and making sure they're ready to go, if not already in the cloud. And you have paperless workflows to mitigate those risks. Being able to have the team work remotely… View More

Modern Accounting Partner - When
820 Views · 3 months ago

Hi everybody! Today’s clip is to talk about “when”.

“When” is not a common way to think about what accountants do but may be the most important.

There are the 3 components to think about when defining “when”: PAST, PRESENT, and FUTURE.

The PAST is the most common element people think of when they think of an accountant.

Financial statements are… View More

2020 08 19 3 Types of Outsourcing
370 Views · 3 months ago

Hi everyone, it’s Rhett at Basis 365 Accounting.

Our method of outsourcing is a bit unique and is often
a pleasant surprise to prospective customers once explained.

I thought I’d share a bit about the 3 ways an outsourced provider operates their business and some of the pros and cons.

Onshored is when you’re outsourcing a process and the team that will be… View More

Distressed Business Tactics: Cash Disbursements
342 Views · 3 months ago

Cash disbursement can be difficult if your business is in crisis. Consider slow pay or no pay vendors if you can, and always look for ways to negotiate payment terms.

Need more advice? You can view the complete tactics guide here:
📲 View More

When to outsource your accounting
781 Views · 3 months ago

Hey everybody, it’s Rhett from Basis 365 Accounting! I'm often asked when should I outsource my accounting? What is that event that tells me that I need it. If, obviously, you're just starting out you don't have a lot of data; you don't need it at all. But, at some point, you're going to realize that whatever
you were doing before is no longer working. It usually… View More

Sales 1st!
187 Views · 3 months ago

Hey everybody, this is Rhett from Basis 365 Accounting. I just read a book called Fix This Next by Mike Michalowicz. It's pretty interesting read where it provides a methodology for business owners / entrepreneurs, to figure out what thing in their business they need to fix next because sometimes it feels like you've got 15 things going on at once. As you look at the table or the… View More

Paycheck Protection Program
717 Views · 3 months ago

The Paycheck Protection Program is the big news this week. We’ve been helping a lot of customers trying to get ready for these loans. Last week we were busy with the Economic Injury Disaster Loans but these PPP loans are amazing. They are forgivable; that’s the primary differentiator. So if you use the funds on approved costs which is primarily payroll but also rent and utilities they’ll… View More

Xero vs QBO
800 Views · 3 months ago

Xero is our preferred cloud-accounting platform. Their culture is quite similar to Basis 365. QuickBooks Online is a solid choice. Either way, now is the time to transition your accounting to the cloud. Xero has been in the cloud since day one so they’ve got a large app marketplace. QuickBooks though is catching up. If you do your own accounting I would choose Xero as it's easier to use,… View More

Distressed Business Tactics: Operations
759 Views · 3 months ago

Hi everyone, it’s Rhett at Basis 365 Accounting.

This is the last video in our Tactics for Distressed Business series.

In this video we’ll talk about some things you can do on the operations side of the business to help survive a significant downturn in the business.

ONE - Supply Chain. Review upstream and downstream for inventory-based business. Focus on what… View More

Monthly Pricing versus Hourly Billing
331 Views · 3 months ago

We're still seeing the Professional Services industry transform their pricing model from hourly billing to fixed monthly pricing.

The benefit to those businesses is to have consistent revenue or MRR, monthly recurring revenue, and also the ability to value price their customers and obtain more profit.

The benefit to their customers is:

1) they don't have those… View More

PPP Forgiveness Timeline
634 Views · 3 months ago

If you're curious about when you should apply for #ppploanforgiveness, then this video is for you. View More

What is the difference between an Accountant versus Bookkeeper?
1,002 Views · 3 months ago

What is the Difference Between an Accountant and a Bookkeeper?

There is no common definition between an accountant and a bookkeeper. Ask 5 people and you may get 5 different answers.


When most people think of an accountant they think of a CPA and taxes. Although that isn’t incorrect, almost all businesses have an “accounting” department. Are they all… View More

LeaseMARC™: A managed risk service for your lease accounting reporting
311 Views · 8 months ago

Whether you're ready or not… change is coming. The new lease accounting standards will have a significant impact on the way you manage and report your leases today. The new standards—ASC 842 and IFRS 16—with compliance requirements by January 2019, require you to rethink decentralized and/or manual-based practices and create an operating model that automates collection and synthesizes… View More

Lease accounting challenges for restaurant and food service companies
1,316 Views · 8 months ago

Learn how Deloitte can help restaurant and food services companies navigate the new lease accounting standards. For more information, please visit at: View More

Lessee accounting under the new leasing standard
937 Views · 8 months ago

Learn more at -
Need to get your head around the new leasing standard? Watch this video for leasing 101 from the Lessee’s point of view. Hear Jonathan Rhine discuss identification (including embedded leases), classification as operating or financing, how to measure the lease… View More

Teem | What is Teem?
686 Views · 8 months ago

A brief overview of Teem, the Workplace Experience Platform

Learn more at View More

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