Revenue Management

Revenue management is the application of well-organized analytics that forecasts consumer behaviour at the retail level and boosts product accessibility & price to enhance revenue growth.

In an internationally competitive business environment, firms are constantly trying to enhance their profitability.

A revenue management system is an effective tool to accomplish the objective with comparatively low technological investments and at present, has extended to several sectors.

The way revenue management instills within the organizational framework relies on the kind of sector and the particular organization. Certain firms have it as part of the marketing department while some place it within the finance department.

In certain organizations, a Chief Revenue Officer manages various functions – marketing, product development, and brand management.

Supply chain management and revenue management have many basic harmonies. SCM is a crucial process in several organizations and is getting interfaced with a revenue management system.

Business Intelligence systems have also been combined with this process. These platforms provide data that can be used for informed decision making.

An organization must evaluate its demand structure and segment its clients on the ability to pay. After the segmentation, the pricing strategy for each segment must be determined, and then the statistical demand for distinct segment must be estimated.

The operating scenarios of production and services sectors differ to a large extent.

For several financial personnel, managing revenue efficiently is extremely challenging. In the context of the amalgamation of uncontrolled regulations, changing guidelines and stringent penalties for noncompliance, revenue management can be very complex for the capabilities of finance personnel.

In the context of these obstacles, firms are thinking about automating revenue management processes to enhance efficiency, augment compliance, and improve transparency.

The strategy to simplifying it begins with processes developed from the top down method, on the basis of information from various stakeholders and activities.

The capability to establish the technology that simplifies and centralizes the revenue management process is also very critical. Cloud-based technology enables finance personnel to link with systems, automate processes, and review business performance.

The four critical complexities are as follows:

Regulatory Compliance

The regulations are complex and difficult to infer because firms implement multiple non-standard agreements with the clients.

Internal Controls

According to experts, revenue recognition is one of the most prominent Sarbanes-Oxley Act Section 404 internal control issues reported by auditors.

Forecast Visibility

Revenue forecasting is not easy to determine. Again, a normal income statement cannot differentiate between once and frequent revenue.

Employee Productivity

Currently, several organizations are utilizing user-friendly spreadsheets for key revenue accounting activities. Simple and complex spreadsheets used by one person need extraordinary endeavour to construct and manage. Even then, all advanced spreadsheets have errors. They are not easily auditable.

In certain sectors such as IT, this system is very complex since it is difficult to allocate revenue across elements and the duration of revenue recognition.

Currently, vendors and buyers are leveraging the software as a service (SaaS). Revenue recognition issues happen when various components and discounting relate to a SaaS contract.

SaaS firms depend on metrics like monthly recurring revenue, which are different from normal IT businesses.

In service-oriented businesses – technology execution, law, and accounts, this system is affirmed on specialised contracts and distinct terms.

In these cases, project-delivery results are connected to recognizing revenue. The revenue recognition method requires the firms to document billable time/expenses and monitor project performance to link proceedings back to the contract types.

Hence, firms are seeking to automate revenue management to accomplish enhanced compliance, better visibility, and reduced costs. It encompasses every function in an organization, the process automating does not begin with IT.

The process of automating the revenue accounting management can deliver substantial results – quick period closes and cost control.

In order to streamline and optimize the system, firms must leverage the technology that enables the finance personnel to link systems, automate processes and evaluate the business on time.

Interface Systems

Streamlining the process eradicates data duplication that occurs between finance and other departments, thereby decreasing errors and reducing time.

The most optimal accounting systems link key business systems – CRM, services management to develop a robust ecosystem for revenue management.

Automate Processes

Every organization’s revenue recognition process differs based on the distinct business model, products, and market conditions.

In order to automate the rigid process, revenue stakeholders must have the capability to arrange the relevant procedures that replicate the complexities of the business operations.

The automation of revenue recognition process can significantly reduce workload for personnel, decrease spreadsheet errors, and enhance efficiency.

Business Performance

Top-notch revenue management systems deliver an insight into both existing/deferred revenues by projecting accurately the future revenues. They enable organizations to evaluate the effect of changes to products and pricing on revenue.

The process of comprehending the system begins with efficient top-down processes. It is only afterwards that technology should be used to automate the revenue management process.

Online Billing: Needs and Requirements

It does not matter whether you own a small business or large, domestic or multinational or any other type possible, the bills are always the most important thing that plays a vital role in managing the flow of money of your company. However, it is just a piece of paper, but it helps to run the business smoothly by maintaining all the records of deals that a company undergoes. It helps you to manage and check the daily transactions. A bill helps to keep the record of seller agreements, products quantities and prices. We can never ignore the vitality of the bills. However, it is not so easy to make and manage bills in any business. For every business, it is a difficult yet essential task to keep up proper billing. Bills can also be an important factor to impress the customers. If your business has a simple and attractive billing method that provides correct and presentable bills then it helps to improve the customer satisfaction.

To support a simple billing procedure, the online billing methods are playing an important role. For businesses like medical care services and law firms, simplified billing methods are vital. Providing medical services can be more important for any physician than solving the complex calculation work of billing rules. In such a field, the wastage of time can cause fatal results. This is why for businesses like medical care services, it is very important to go with the technology that saves a fair amount time as well as resources.

Traditional billing methods can be very time-consuming and costlier as compared to electronic payment methods. The online billing technique or the E-commerce payment system can cut down the expenses by cutting down the costs of several items that are required in traditional billing methods. Online billing is the fastest method for generating bills. You can create bills within seconds no matter how long they are. The calculations done with the help of online billing methods are so precise that manual calculations cannot beat them. With the help of online bills, you can generate a number of copies without any wastage of time. With the help of an online billing system, you can send bills to any place in the world by clicking a few buttons. The e-mails help you to send your bills to distant people and places within seconds. Online billing methods can be very helpful in saving the details of several deals. You can keep a soft copy saved for years. All the data remains secure and no one can get access to this data without administrative permission.

There are a number of websites that are available on the internet that can give you the details about electronic payment methods. You can visit these websites to know the benefits of online billing for your business over the traditional billing methods. With the help of an online billing process, you can run your business in a more efficient way. Also, the effective work culture is obtained when billing methods are done properly. If you want to know more about online billing then you can visit which the official website of a leading medical care service provider company Practice Max.


The United States economy is increasingly globalizing numerous investment opportunities around the world, which has created a need for a singular set of accounting standards that all companies can practice and understand. However, a universal accounting system already exists that currently is not being used by the U.S. The necessity for globalization has resulted in U.S. companies and financial institutions preparing for the inevitable transition from Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS.) With over 100 countries already using IFRS, the American GAAP system is steadily growing outdated. This demand for internationally comparable information is why we need to prepare for the transition from GAAP to the already internationally established IFRS. Understanding what will change, as well as what will stay the same, will help prepare for the transition of systems and the move towards the goal of globalization.

A critical difference between both systems is how each defines basic financial elements. Under GAAP, assets are defined as “probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events” (Shamrock). IFRS defines assets as “a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity” (Shamrock). The main difference between these two definitions is that IFRS is relatively lenient when recognizing something as an asset, whereas the U.S. GAAP system has much stricter protocols. Another discrepancy can be found in the IFRS system’s use of the word “expected” when referring to liabilities. Additionally, a commonality between the two systems is their definition of equity as “the residual interest in the assets of the entity after deducting all its liabilities” (Shamrock). Understanding how each financial element is defined under each system is critical before beginning to try and compare other more complicated differences.

The Financial Accounting Standards Board (FASB) creates and maintains U.S. GAAP codification, and the International Accounting Standards Board (ISAB) does the same for IFRS. Both are overseen by a group of trustees (Shamrock). This similarity is an important common factor between the two systems. When it is time, the transition process will be made easier by the consistency of regulations between each system. Nonetheless, a major difference between GAAP and IFRS lies in the fact that one is more “rule-based” while the other is “principle based.” When using the U.S. rule-based system, accountants must follow a specific set of rules outlined by GAAP; there are clear criteria that outline exactly how to prepare financial statements. However, “under IFRS and using principle-based accounting, general principles are put forward and companies must ensure that their financial statements fairly and accurately represent the principles” ( Therefore, principle-based accounting has much more room for individual interpretation of what is expected on financial statements.

A final, but important, note of interest is the difference in presentation of financial statements between GAAP and IFRS. “Under both frameworks, the components of a complete set of financial statements include: balance sheet, income statement, other comprehensive income, cash flows, and notes to the financial statements. Both US GAAP and IFRS also require that the financial statements be prepared on the accrual basis of accounting” (Ernst & Young). Although the overall financial statement requirements are the same between the two systems, there are many smaller differences in what is required on these statements. An example of this can be seen when dealing with inventory: under GAAP, allowable methods of recording inventory include First In First Out (FIFO), average cost, and Last In First Out (LIFO). While GAAP allows all three methods, LIFO costing is prohibited under IFRS (Mirza).

The current economy is globalizing at a rapid rate, and the United States must prepare to switch accounting systems in order to stay competitive with the rest of the world; the differences between the GAAP system and IFRS are creating barriers in international business. With over 100 countries already using the IFRS and generating internationally comparable financial statements, it is certain that the US will transition in the near future. By understanding the discrepancies between the two systems and preparing for an inevitable switch in accounting systems, the US is moving toward the goal of globalization.


“US GAAP versus IFRS: The Basics.” Review. Ernst and Young LLP, Dec. 2011. Web

Mirza, Abbas Ali., and Nandakumar Ankarath. International Trends in Financial Reporting under IFRS: Including Comparisons with US GAAP, China GAAP, and India Accounting Standards. Hoboken, NJ: Wiley, 2013. Print.

Shamrock, Steven E. IRS and US GAAP: A Comprehensive Comparison. Hoboken: Wiley, 2012. Print.


Getting the Deductions You Qualify for With Business Taxes

There are plenty of deductions the average business can qualify for. Yet they aren’t realised by those entities because they don’t know they can count them. As a result, they pay more for taxes than they really need to. If you don’t take advantage of such deductions, you will lose that money that could be in place for your business needs. With tax services, you can avoid it.

On the other side of the equation, you don’t want to take deductions you think your business qualifies for but it really doesn’t. As a result, you may raise some red flags that result in an audit. You may have to pay a fine and extra money once the audit is completed and your taxes are corrected. It is best to have a provider of tax services to help you do it right the first time.

Best Tax Solutions

Experts in this field can help you navigate the best tax solutions available. There may be more than one way for your business to file. The tax services provider can help you to decide the pros and cons of them to find the one that is right for you. They can also help you with evaluating what you can do in the future to cut your tax liability.

This can include more donations to your community which can be tax deductible. At the same time, such efforts can help you to get your business name recognised in a positive light. In turn, this can help to generate more business from new customer as well as help you to create loyal customers.

File with Confidence

You will be able to file your tax return with confidence when you have someone offering tax services on your side. They can ask you questions, look at your documents, and help you to get everything completed. You may feel overwhelmed by the process and their help can put your mind at ease. They can help you to navigate through the complex issues too relating to taxes.

Make sure you give all documents requested and you give answers to all questions. That is the only way for them to help you get results. Never omit information or try change things because it can come back and haunt you later on. You need to know if you get audited it has all been done correctly.

Audit Help

The risk of an audit is scary, but with tax services in your corner, they can help you with that process too. If you are contacted that you will be audited, they can represent you so you don’t have to go through it alone. If there are mistakes due to their efforts, they can be held liable for the and not your business. This can give you an added layer of protection and comfort.

Talking with an auditor can be stressful because you don’t know what they are looking for or why they are closely looking over things. With the help of the provider who did your taxes, the information makes sense to them and they can convey it to you in common terms. They can also make sure the audit is conducted legally and in the least amount of time.

Make Your Business More Productive By Adapting QuickBooks In The Cloud

In today’s technology-oriented world, great innovations & ideas are what dazzles all of us. Whether being gadget freak or daily person, businessman or house runners- everyone tries hard to make these innovations a part of their life which somehow simplifies their existence. As mayor of our existence is inclined to businesses for their livelihood; the need of simplifying financial burden for such big or small businesses comes into focus more often.

QuickBooks is one of the top-notch accounting software, originally powered by Intuit, which has been come in the main screen from past some decades and is being highly recommended by financial advisors & accountants of this era.

The power of simplifying and automating operations related to accounts can be acknowledged by seeing millions of businesses that are already tied the knot with QuickBooks accounting software. With the presence of some great initial features including managed reports & transactional records, the filing of taxes, employees payroll calculations, easily accessed dashboard & many others it is quite easy for a business to manage their daily accounting operations.

But what if someone quest for more refined features that will simply enhance the way these operations access? For that purpose, a business can adapt QuickBooks Cloud Hosting which will enrich the features they were using back. One major benefit of availing QuickBooks in cloud service is having scalable backend support by experts who are versed in cloud computing techniques.

Why Run In The Cloud?

Dealing with so many files on the daily basis requires complete resources & manpower which is somehow not easy to arrange for SMBs. A great number of companies are switching to cloud-based hosting solutions which are proving to be the best companions for such organizations. Locating all your business related data in cloud actually make your data safer and lowers the risk of loss.

So it is more precise to say that running/saving all your business related data in cloud enhances the mobility of data and give authorization to multi-user accessibility. QuickBooks cloud is also home to many frequent features which are enabling backups for your long back data which might be used in future.

  • Simplest Way To Boost Your Business Reach
  • After so many conclusions, QuickBooks Cloud hosting proves to be a wise way to boost your business reach productively. As there are lots of perks you will confront while allowing cloud environment into your business. One only need to pay as per their needs and can enrich their wants of resources at any instance of time. How finely your business is represented in the marketplace is defined by how nicely you’re managing it. And right management comes along with proper control over accounts and strict monitoring of threats.
  • Effective Way To Introduce Instant Connectivity To Your Business

With QuickBooks cloud-oriented features, the ease of working with your authorized team members also comes which simplify your connectivity approaches on a big level. With cloud-based technologies the perks of great accessibility also conquer; the business world is a huge example of instant change which is fully filled with wise minds & versed tricks. The simple approach of enabling your QuickBooks software with cloud improves a lot-the way you handle connectivity with your clients & team members.

What Acts As Real Icing On The Cake?

There’s no doubt that people who are actually looking forward to outsourcing their business, whether small or medium, with QuickBooks Cloud hosting service they can get real gain. The software itself works hard to adapt all the newly coming innovations that are helping businesses to grow more precisely. Only because of “adapting at instant edge” quality of QuickBooks- Many small based businesses are able to integrate their business with cloud computing. QuickBooks cloud hosting is converting desires of being a self-authorized IT backend a reality.

Is The Cloud Computing Results In Betterment Of Business Operations?

The advancement of cloud computing turning many things into simpler units of the task which are directly offering more security & scalability to your business. Accepting the benefits of integrating your small or medium scale business with cloud-based QuickBooks is the wisest decision you can take to grow your business. You can access your accounting data & track all of your financial activities from anywhere and at any time. Along with this, cloud-based QuickBooks hosting helps you to collect all the necessary files at one place securely.

The whole concept of having a more productive business can be precisely answered by adapting QuickBooks cloud services. If you are still wondering Is QuickBooks cloud-based? Or not then presumably you haven’t researched of your battle-ground, the competitive market world, till yet.

What Are Fixed Assets?

In case the asset isn’t predicted to last longer than 1 year, it’s not a fixed asset. These resources are anticipated to be used for over 1 accounting period. A future economic resources, in regard to financial accountancy usually means any object, factor or feature of the person, business organization or company, with a financial liquidity. There are a number of procedures to compute depreciation. It can be calculated using the Straight-Line method, or the Accelerated Depreciation method. Several people are knowledgeable about the term ‘depreciation’. In the company Earth, however, depreciation is really related to another notion. The most frequent depreciation technique is called straight-line depreciation, that’s the initial price of an asset divided by its useful life.

The Importance of Fixed Assets

Fixed assets are from time to time collectively known as plant. They are not easily sold. They lose value as they age. The entire asset varies with regard to their liquidity. These economic-resources may endure for many years and this is the area where depreciation enters the picture. These have to be sold, and a hurried sale could lead to a loss. A fixed asset isn’t anticipated to be consumed or converted into cash in front of a time frame of a single year.

Assets are among the principal things that should be analyzed to specify the value of a business. Before doing this, the asset has to be supplied a salvage value. These resources play an extremely instrumental part in the manufacturing procedure for the organization. A long-term asset is not too straightforward. A noncurrent-asset consists of fixed assets. There are lots of sorts of economic resources a business owns.

Here are the most common classifications used:

Furniture and fixtures


Computer equipment

Car and Vehicles

Construction in progress

Goodwill and Copy Rights etc.


Land improvements…

Leasehold improvements.

In addition, there is some asset, which do not has any industry value but instead have a recurring expenditure. Some assets aren’t depreciable since they don’t deteriorate over time. Latest assets have a brief life span. Because of this, it should be regarded as present resources and included in the corporation’s working capital accounts, much less a fixed asset. To begin with, it is simply morally wrong and second, you don’t just have your existing assets in danger. To acquire this, an individual needs to divide the recent assets by the recent liabilities. It is chiefly believed to be a short-term asset for virtually any organization.

Insights About Utilizing Professional Collection Services For Defaulted Accounts

Business owners rely on clients to pay their bills. When customers default on financial obligations, the owner of the business suffers monetarily. Collecting on a bad debt can be particularly challenging if the person who owes it refuses to communicate with the company or fails to uphold his or her payment arrangement. Because you may have other tasks that need to be focused on at your company, you might find it better to hand off delinquent accounts to professional recovery services. You may be convinced by considering some of the advantages about this option.

Freeing Up Resources to Run Your Business

You and your company’s staff may face any number of duties each day. Despite those customers of yours who defaulted on their accounts, you still must take care of existing and new clients who come into your business. When you spend time chasing down defaulted accounts, you might risk the relationship you are trying to build with those customers who do pay their bills on time.

You also might not have the resources to hire staff just for the sole purpose of collecting on past obligations. Hiring new workers can be expensive if you must train them and also keep them employed after accounts have been settled. Rather than tie up resources for hiring such workers, you may find it better to let a professional recovery service contact those in default for you.

The service typically utilizes a number of different collection remedies for bad debts. You can find out more about each of them when you visit the service’s online location. You may be able to tailor services that match your collection needs and also get the help at a cost that your company will find reasonable.

Collection Methods

Collectors who go after bad accounts use a number of different approaches. The first approach may involve calling the people who owe money and seeing if they want to set up a payment arrangement. Many people are eager to make monthly payments that can fit within their budgets. Over the course of a few months, you might have the entire amount recouped and submitted to you in full.

A collector who is unsuccessful in setting up an arrangement may then try to pursue several legal avenues. The first avenue involves getting a judgment in court to seize a debtor’s assets like wages or bank accounts if applicable The second avenue involves stopping any services that the person still receives from your company. These actions might be enough to convince the person to make payments or settle the account entirely.

Much of the action that you can take, however, is determined by the laws in your area. Some laws allow for garnishment for medical bills, but not for credit card bills, for example. The service you hire to collect for you might know the laws that pertain to the matter.

Collecting debts can be time consuming and costly. You may need help resolving the issue afford-ably and easily. You can find out more about the options available to you by getting a free quote for debt collectors and other information.

Why QuickBooks Hosting Is A Complicated Process For Most Of The Businesses

The era of modernizing is the real world where most of the businesses are seeking flexible frameworks & reliable innovations for their progress. Where most of the accounting industries are amazed by innovations like cloud computing & online working portals, a majority of users residing in the same industry aren’t aware of its complexities. For already accessing users of Intuit’s QuickBooks desktop editions, integrating data to web-based software approach seems to be one of the most exquisite options for excelling in the marketplace.

Fortunately, the cloud-based QuickBooks give ease-of-accessing data over cloud network, ease-of-operating files from any device & OS and ease-of-collaborating with team members from anyplace & at any time but still lacks many features that are required by a QuickBooks desktop edition user. In order to host QuickBooks desktop edition to cloud network, an authentic hosting provider is a must who installs & manages software & company’s data files on their cloud-based servers.

It is true that user will no longer need to install QuickBooks software on their PC, as the Internet is enough to access both, software & data files on server’s cloud network. Though, after having this much ease, the user still needs the initial underlying technologies i.e. Windows on the local machine & QuickBooks software.

Distinct from True SaaS or Cloud-based Application Approach!

QuickBooks hosting is somehow a different approach from that of SaaS or cloud-based based applications. SaaS, Software as a Service is a web-based application solution or model where a single application and data framework is available which serves almost all users. For particular software, the web-based application can be taken as a service and the exact infrastructure in support is hidden from the user. On the other hand, hosted QuickBooks service works with its initial QuickBooks desktop editions as designed by Intuit. So the initial requirements including the PC-based installation of software, deployment of the application as per user & consumption of more resources will be still there with the cloud-based hosting approach.

Eventually, SaaS is a cost-efficient architecture for users in which functionalities like system redundancy and fault tolerance are inbuilt in the solution itself. Whereas hosted QuickBooks approach is comparatively higher and offers complexity to its users.

Choosing the Right & Wise Move for Your Business!

Users who are considering shifting from locally-installed QuickBooks to hosted QuickBooks desktop editions as a wise move might fall abruptly if continues without embracing the right volume of knowledge. Yes, that’s true! The shifting is proving beneficial for most of the businesses but only for as long as they aren’t getting aware of technologies like SaaS. Usually, for both small-sized & medium-sized businesses, it is advisory to cognize the depth of perks before fascinating with the width of features.

There are numerous other perspectives which are predicting the concept of hosting with QuickBooks application, which is complicating the process of being a web-based cloud network business:

  1. Issue of Licensing: Licensing is the hardest task to convey by any third party service providers as installing the authentic software licensing level & give proper set-up to multiple levels of software asks preciseness which is somehow difficult to offer by all. Many times the service provider implements the same procedure in order to fulfill the installation process and doesn’t focus on a particular business needs which provide a generic setup to each user unwittingly.
  2. Verdict of Third Party Applications: Intuit itself checks each company before allowing them to offer hosting services to QuickBooks users. The companies are thus authentic to Intuit and are often known as third party service providers in the market. It is mandatory to evaluate the risks that might conquer while integrating your business data with any hosting provider. The risks are majorly confronting the users only when platforms and hosting software aren’t fully licensed.
  3. Maze of Multiple User Performance & Number of Servers: Initially, the QuickBooks desktop version wasn’t designed to run by multiple users over single PC until the presence of QuickBooks hosting comes in the notice. Many times while working on the same cloud-network it is quite hard for multi-users to get their command done as less availability of command-handler makes the workability strict and thus takes much time to complete the task. Hosting provider, in order to solve the scenario, allows more servers to the same number of users being in the working environment- which subsequently make the task delivery process complex & expensive.

So these three main practices that mostly become complications for third-party hosting providers are the reason making QuickBooks hosting a complex process for most of the businesses. The integration goes inflow until the user itself gets acknowledged with any scarcity of provider. But once the user gets to know his worth, he finds the whole process complicated.

Interesting Myths That Proves QuickBooks In The Cloud Is Beneficial For Your Business

From past few decades, QuickBooks has been gaining recognition from the business world including CPA’s, financial advisors, and owners. Some beliefs on its proven practices i.e. result businesses showing after integrating with the software whereas some are still allowing the software into their business by believing in interesting myths. The real power of cloud QuickBooks can be easily acknowledged by both, SMB’s & huge enterprises right after mitigating the data in the cloud.

As per the surveys and research held by experts in the just passed the year 2017, Small businesses are vastly accessing the cloud computing technique by allowing it in their traditional QuickBooks software which again helping them to do work effortlessly and negating the need of numbers of employees. It is quite important for business, nowadays, to be a step ahead in the marketplace and earn their space by crossing the ladder of success step-by-step. Any small-sized or even medium-sized business can effortlessly step-up the ladder of success by inputting the right set of strategies within their business space.

How soothing it will be for businesses to know these interesting myths that simply show the importance and necessity of QuickBooks software in the business environment.

1. Stay hungry, stay competitive

Initially, when Intuit, the developer of QuickBooks, came with the idea of offering reliable accounting platform to businesses, very few have been recognized the approach as a good one. However, soon when the approach seems to be a promising deal that businesses can offer to their clients, Intuit has gained real space in the market world. Though the market has always been a competitive portal where to claim success, you need to pay attention, good strategies & worthy decision.

About a decade ago, QuickBooks in the cloud came into notice and again revolutionized the whole market with its flexibility, scalability & security approaches. So, it’s never going to be enough when one claims for success & growth.

Henceforth, Intuit asks you to be- Stay hungry in this battleground of business and beat the competition by planning excellent strategies.

2. Track constantly, Work Instantly

The Cloud-based QuickBooks allows users to track even the minute changes made by the client or any other fellow team member instantly. That really helps businesses to stay away from the concept of ambiguity as the changes are seen to each person as the way it made.

Constant tracking and updating alike features are the real value, QuickBooks offered to their users so that they don’t have to waste time over re-checking the files and data.

3. Never Fear, Cloud-based QuickBooks is here

Businesses often fail due to the lack of having backup options at times when all the data accidentally crashed, residing in the local machines. Even in the digital world of today’s, around thousands of businesses still dealing with data loss and data threat. But, QuickBooks in the cloud offers complete data security as only authenticated team members can access the data.

Backup and data recovery are two major benefits that users can engage their business with without any much effort and practice. Data in the cloud itself is backed up in a timely manner.

4. Less paying, Big saving

Most of the businesses have already been connected with the renowned QuickBooks desktop edition software and would like to integrate with cloud-version as well. So for SMBs who are not looking forward to paying more but also want the flexibility of the cloud- can simply transform the traditional QuickBooks into Cloud-based QuickBooks.

To doing so, the user only needs to find out authentic third-party hosting provider i.e. businesses can enrich their features by paying less as well.

The Final Round Up

QuickBooks software has proven each time that nothing can beat this immense popular & usable software when it comes to flexibility with the cloud, security of data and scalability of the platform. For all kind of businesses, allowing QuickBooks into your business premises will only going to worth the pay & say!

The Influence of Globalization on Tax Revenue

The Evolution of Business

Gone are the days when businesses were local, and they derived their material resources from relatively close locales, with the labor pool consisted of the nearby residents. Limited mass transportation and slower communication inhibited a fast-paced business environment in those days.

However, over the last century technology increased the pace of business to the point where today’s companies secure resources from halfway across the globe in a matter of days, and the once inaccessible human resource now performs duties virtually from the other side of the world. Out of this break-neck speed of business came the birth of globalized commerce, a phenomenon where more transactions occur on a larger, worldwide scale thanks to the help of technology and innovation connecting businesses all over the world.

The Tax Effect

Because certain locations allow for lower costs of doing business, corporations realize more net revenue, which should translate into increased taxable income. However, increased revenue does not necessarily translate into taxable revenue if the organization is maximizing profit by reducing net income tax expense by conducting business where the tax rate is the lowest. When this happens an economic phenomenon called “race to the bottom” occurs (Dreher). Governments reduce tax rates to encourage corporations to locate to their country to do business, thus increasing their economy.

Tax loopholes contribute to a decrease in corporate income tax revenue (McIntyre). Theoretically, these companies should be taxed in both their base country and the target country, which is called double taxation (Lentz). However, double taxation agreements limit double taxation by providing an arrangement where countries do not subject foreign income to double taxation in more than one national taxing jurisdiction. Global taxing agencies enact these agreements to entice companies to do business within their borders to increase their local economy and boost their markets.

There are also other ways to get around taxation. Often a country will enact tax holidays (Lentz) as an incentive for companies to do business within their borders. Tax holidays allow respites from paying taxes during certain times of the year. A “tax haven” (Lentz) is another simpler method of tax manipulation allowing companies to house their revenue in locations where taxes are extremely low and sometimes even non-existent. “It is estimated that the top 500 U.S. companies would owe an estimated $620 billion in U.S. taxes were it not for the more than $2.1 trillion in offshore cash that most of the firms hold in foreign tax havens” (McIntyre).

Countries are businesses as much as the corporations that operate within them. Globalization provides companies the mobility to transact business to different geographic areas with ease. Therefore, countries compete for and attract foreign business by making it cost-effective for corporations to transact business in their country through decreased taxation. When taxable organizations transact their business in locations other than their homeland, they are redirecting tax money that, under non-globalized operations, would be infused directly into the base country’s economy. A result of this redirection is that the homeland creates revenues for its government by replacing the burden of lost tax-generated funding on the individual citizens.

Globalization affects individual taxpayers by providing a means for other countries to seduce tax-paying corporations to conduct business with them by reducing their tax expense. Citizens are burdened by increased income taxation to make up the difference of lost corporate tax revenue needed to maintain the well-being of the economy.


As a college student who is getting ready to enter the workforce, having additional individual tax burdens worries me. At a time when our national economy is hurting, many companies are skirting their own nation’s tax needs to pay less tax in another country, yet they still generate profits each year. Many individuals argue that a portion of these profits should be going directly into the base nation’s economy rather than more tax advantaged countries. Globalization allows the redirection of revenue and therefore redirects the burden of tax revenue on the homeland’s citizens, even though they may not be a part of the problem.

Works Cited

Dreher, Axel. “The Influence of Globalization on Taxes and Social Policy: An Empirical Analysis for OECD Countries.” European Journal of Political Economy, 4 Mar. 2004. Web. 17 Nov. 2016.

Kumar, Manmohan S., and Dennis P. Quinn. “Globalization and Corporate Taxation.” N.p., Aug. 2012. Web.

McIntyre, Robert S., Richard Phillips, and Phineas Baxandall. “Offshore Shell Games.” (2015): n. pag. Citizens for Tax Justice, Oct. 2015. Web. 17 Nov. 2016.

Lentz, Lexi. “B&E | Positive and Negative Effects of Globalization on Taxation.” IndraStra Global Master. IndraStra Global, 27 Apr. 2016. Web. 01 Nov. 2016.