Generally Accepted Accounting Principles (GAAP) are a set of standardized rules and guidelines for financial accounting and reporting. These principles ensure consistency, accuracy, and transparency across financial statements, enabling stakeholders such as investors, creditors, and regulatory bodies to make informed decisions. Developed primarily by the Financial Accounting Standards Board (FASB) in the U.S., GAAP plays […]
Bestarion began as a software development and business process outsourcing (BPO) company. In 2019, we expanded to offer finance and accounting (F&A) solutions to US accounting firms. Over four years, our accounting & bookkeeping segment doubled in size, and we aim to grow even more. Bestarion provides comprehensive Finance & Accounting solutions for CPAs Firms, […]
Accrual accounting is a widely used accounting method that records revenues and expenses when they are earned or incurred, regardless of when the cash is received or paid. Unlike cash-based accounting, which only records transactions when money changes hands, accrual accounting provides a more accurate picture of a company’s financial health by recognizing financial activities […]
In the fast-paced world of business, managing payroll can be a daunting task for many organizations. This is where payroll service providers come into play. These professionals help businesses streamline their payroll processes, ensuring that employees are paid accurately and on time while also remaining compliant with all necessary regulations. In this article, we will […]
In today’s fast-changing healthcare landscape, streamlined and efficient processes are more important than ever. Enter medical billing software, a transformative tool designed to simplify and optimize billing operations for healthcare providers. In this blog, we will explore the various facets of medical billing software, its benefits, features, and how it can revolutionize the financial operations […]
Tax season remains one of the busiest times of the year, with accountants scrambling to fulfill tight deadlines while maintaining client confidentiality. Assume you have not explored tax preparation outsourcing before the forthcoming tax season. In that instance, you risk missing out and taking on extra labor you no longer require. The world is changing, […]
Reconciling your accounts in QuickBooks Online is a crucial task for maintaining accurate financial records and ensuring the smooth operation of your business. This comprehensive guide will walk you through the entire process, from reviewing your opening balance to running reconciliation reports and making adjustments when necessary. By the end of this article, you’ll have […]
An Accounting Information System (AIS) is a systematic process of collecting, storing, processing, and communicating financial and accounting information in an organization.
Outsourcing payroll services cost is primarily determined by your company’s specific needs and requirements and how much time you’re willing to spend managing it yourself or outsourcing payroll entirely. Do you want to know how much payroll services cost? Read more: Top Reasons for Outsourcing Payroll in 2024 How Is Payroll Pricing Structured? Payroll is […]
The balance sheet is a fundamental financial statement that provides a snapshot of a company’s financial position at a specific point in time. It is a crucial tool for investors, creditors, and analysts seeking to evaluate a company’s health and performance.
