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Calculating your net income based on the numbers in your balance sheet or from your income statement will allow you to accurately assess business performance. In this article, we’ll take a look at why net income is important, how the net income formula works and how it relates to other financial metrics. Then, we’ll discuss how to avoid common mistakes as well as how to improve your net income.

A credit note, also known as a credit memo, is commonly used in accounting against paid invoices to handle errors, changes and other issues. In this article, we’ll go into more depth about what a credit note is, situations where you would issue one, what to include, and how to use credit notes in Xero and QuickBooks Online.

In the past year AI has had a major influence on many different industries and you may be wondering how artificial intelligence impacts the accounting industry? In 2024, artificial intelligence (AI) is rapidly transforming businesses across all industries by automating processes and revealing important insights from data. For accounting firms in particular, adopting AI tools and solutions is now a means for remaining competitive.

A Square to QuickBooks Online accounting integration has the ability to sync data to provide you with up-to-date financial information. Choosing the right option that compliments your business is invaluable in the process of streamlining your accounting and finance tasks.

A general ledger is a critical component of business accounting. It is the main ledger that summarises all transactions and financial events for a company. The general ledger provides a comprehensive record of all debit and credit account balances, which are used to generate important financial statements. For small businesses, maintaining your general ledger is crucial for managing finances and having visibility into the health of your operations.

DocuSign is a trusted eSignature service used by accounting professionals and businesses for various purposes. DocuSign enables you to request signatures for documents directly within accounting software such as Xero. This way you can seamlessly manage billing, receive legally-compliant tax form signatures, and more.

The accounting industry is facing a number of challenges, but by staying up-to-date with the latest trends and technologies, firms can position themselves for success in the future. In this article, we’ve delved into the latest research, surveys and trends, as well as spoken to leaders in the space to give you a summary of what you need to know in 2023.

If you’re creating invoices, quotes and other key documents in Xero, you can automate the document execution process by using DocuSign and Amaka’s 100% free DocuSign + Xero integration. We’ve teamed up with DocuSign on a free webinar to discuss the current challenges associated with agreements and how to overcome them.

Due to many misconceptions, it might seem otherwise at first. But, even though software integrations might seem confusing, they don’t have to be terrifying. Especially if you trust experienced professionals to help you set up those integrations or even do it entirely for you.