The difference between forensic accounting and auditing lies in how the engagement is performed. Forensic accountants look for the existence of fraud in a business and can go as far as spotting other criminal behaviors committed by the owners or employees. Meanwhile, auditors focus more on your business’s compliance with accounting principles, such as United…
Versus
Furlough vs Layoff: A Guide for Small Businesses
A business has some options when the need to downsize arises—the most common being furloughs and layoffs. A furlough is a mandatory temporary leave of absence for your employees. A layoff is a permanent termination of their contract with you. Too many small businesses use these terms interchangeably, but it is important to understand the…
Freshsales vs Salesforce: Which Is Better for You?
Freshsales and Salesforce are popular customer relationship management (CRM) software platforms that serve businesses with excellent lead management, analytics, and workflow automation features. Freshsales stands out for free-forever plans, which offer phone, chat, and email communication with contacts. Salesforce, however, is better for tailoring the CRM to an organization’s needs through system customization and integrations….
Pipedrive vs Zoho CRM: Which CRM Is Best for Small Businesses
Pipedrive and Zoho CRM are customer relationship management (CRM) systems that let small businesses manage sales operations with excellent pipeline and lead management features. However, Pipedrive stands out for its easy-to-use sales tools and intuitive interface, while Zoho CRM has multipurpose functionality to manage sales, marketing, inventory, and customer support, all in one place. When…
Cash-basis vs Accrual-basis Accounting Methods & When To Use Each
The option of whether to use the accrual or cash basis of accounting largely depends on what the accounting numbers will be used for as well as the cost and difficulty to produce accrual-basis numbers. Cash-basis accounting is often used for income tax reporting while accrual-basis is usually better for financial statements. The difference between…
Account Manager vs Account Executive
Account managers and account executives are both essential to a sales operation for generating revenue. While their roles are different in scope with one handling current clients and the other new business, they can both be excellent careers with growth opportunities and high earning potential. In this article, we explore the difference between an account…
LLP vs LLC: What’s Best for Your Business?
The main difference between an LLP (limited liability partnership) and LLC (limited liability company) is that the LLP provides business asset protection from another partner’s negligence. If one partner were to get sued because of negligence, only that partner’s assets are held liable. Common LLP businesses are law, accounting, and architecture firms. When To Form…