Accounting is one of those age-old occupations, steeped in tradition. The essentials of maintaining numbers related to a company’s financial activity or that of a private client haven’t changed much. Business types change, financial instruments change, but the essentials of profit and loss remain the same. What has changed is the ability of accounting firms […]

In 2021 the FTC received 1.4 million reports of identity theft. While we often think of phishing frauds and online imposters as the source of these crimes, identity thieves also target accounting firms due to the types of data they process. Accounting and tax firms collect the personal details of clients and employees including Social

For decades, the accounting industry has universally billed its clients based on set rates, typically hours-based, for specific time spent or discrete tasks performed. In recent years, however, we’ve started to see a significant shift in these billing structures. A recurring payment, also referred to as a subscription, recurring billing or automatic payment, is an

Every business revolves around two crucial factors: time and money. Understandably, efficient management of both elements is vital for profitability and growth. Enter the realm of time tracking and invoicing, where accuracy meets profitability. Let’s delve into OfficeTools’ functionalities that make this a reality for many businesses. Understanding the Need: The Questions That Matter In