Aron Govil

SAP is business software that helps organizations plan, build, and run their operations from the ground up. In a nutshell, it’s an all-in-one solution for pretty much everything your company needs to do better – whether you’re a financial services provider, manufacturing enterprise or nonprofit organization; we’ve got your back covered says Aron Govil. One… Read More »Aron Govil- 5 Ways to Prepare for an SAP Implementation Project

Your company’s accounting department is your financial heartbeat. It’s how you know what’s going on with all of your business transactions. With the right work ethic and a little know-how, your accounting department can help grow and manage your business to new levels of success says Aron Govil. Here are five tips we believe will… Read More »Aron Govil: 5 Tips to Help You Make Your Accounting Department More Efficient

Competition between SaaS providers is constantly growing. To win in the race to customers, you need a strategy every bit as unique and innovative as your product explains Aron Govil. We spoke with Frank Sawatzki of Bakers Footwear about how SaaS products can survive – even thrive – in retail. Here are his tips for… Read More »Aron Govil: 5 Tips for SaaS Vendors Who Want to Succeed in Retail

When you are running a business from home, additional deductions may be available to you not just for the depreciation of your home office equipment, but also for expenses related to utility bills. Yes, even if your residence is part of your business says Aron Govil. Some typical examples include phone and fax charges; subscriptions… Read More »Aron Govil: How Can I Save On Taxes By Claiming Home Office Deductions?

Although the cost of hiring a tax professional is relatively low compared to the price of a new computer, many people believe that no amount of money can get them to hand over their hard-earned tax refund says Aron Govil. One way that you may be able to save some of your refunds is by… Read More »Aron Govil: How Can I Save Money By Preparing And Filing My Federal Income Taxes On My Own?

There is no simple answer to this question, as the type of accounting system your new company will require depends on a variety of factors, including the size and complexity of your business, the type of products or services you offer, and your accounting and bookkeeping needs says Aron Govil. That said, here are 10… Read More »Aron Govil explains How Can I Find Out What Type Of Accounting System My New Company Will Require?

An Employer Identification Number (EIN) is a number assigned by the Internal Revenue Service for federal tax purposes explains Aron Govil. The purpose of an EIN is to identify one business entity and its financial accounts for legal, economic, and tax-related transactions. The IRS requires businesses to report their earnings or losses on form 1099K… Read More »Aron Govil- Do You Need An Employer Identification Number (EIN)?

The cash basis of accounting is a simple way of recording financial transactions says Aron Govil. Under this system, only the cash inflows and outflows are recorded in the accounting records. No adjustments are made for accruals such as unearned revenue or accrued expenses. The accrual method, on the other hand, recognizes revenue when it… Read More »Aron Govil states the Difference between Cash Basis and Accrual Method of Accounting

Deducting home office expenses on one’s tax return used to be a fairly straightforward matter: if the primary purpose of the room in your house where you worked was as a place to conduct business, you could claim a home office deduction for a portion of your mortgage interest, property taxes, insurance, and other expenses… Read More »Aron Govil: Claiming Home Office Tax Deductions