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The construction industry has always been influenced by fluctuating material costs, but recent price increases have put significant pressure on project budgets. Rising costs of essential materials like lumber, steel, concrete, and copper have forced contractors, developers, and stakeholders to rethink their financial strategies to maintain profitability while delivering quality projects. Why Are Material Costs […]
Introduction Payroll is the lifeblood of any organization, ensuring employees are compensated accurately and on time for their work. While it might seem like a routine administrative task, payroll management is a critical function that can trigger a cascade of issues across different industries when it is mismanaged. The consequences of payroll errors extend far […]
An Enterprise Resource System (ERS) system is an integrated software solution that consolidates core business processes across departments into a unified platform. Here are some reasons why your business should consider implementing an ERS system to operate efficiently and remain competitive. What is an ERS System? ERS systems are software tools that unify and manage […]
While exploring key topics for businesses to keep an eye on, the article “Can You Believe We’re Still Talking About Check Fraud in 2024?” caught our attention. It serves as a timely reminder that fraud remains a persistent challenge, even in today’s digital age. One standout takeaway is the practical feature offered by INTERAC, which […]
To combat financial crimes like money laundering, fraud, and tax evasion, the U.S. Congress passed the Corporate Transparency Act (CTA), which requires certain businesses to report Beneficial Ownership Information (BOI). This law, administered by the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), aims to create greater transparency in the corporate landscape. Here’s what […]
Will Technological Advancements Lead to the End of the Accounting Profession? The short answer is no, accountants are not likely to be replaced by AI. Instead, AI is poised to become a powerful tool that enhances their capabilities and transforms the profession. The world is evolving at an incredible pace, especially as we move from […]
Are you searching for the best accounting software to streamline your business operations? Whether you’re a small business owner, a startup entrepreneur, or managing an established company, having the right business accounting software is crucial for keeping your finances in check. In this guide, we’ll cover some key facts to help you make an informed […]
The accountant shortage in the U.S. has reached crisis levels, posing significant challenges for businesses and the economy. The U.S. Bureau of Labor Statistics (BLS) projects a 4% increase in accountant and auditor job openings until 2032, amounting to approximately 126,000 accounting roles that need to be filled yearly. However, meeting this demand with a […]
In the intricate world of construction, managing finances can often feel like navigating a complex maze. That’s where the INTERAC Core Accounting Applications step in, offering a tailored solution designed specifically for the unique needs of the construction trades. This blog explores how INTERAC simplifies financial management by seamlessly integrating core accounting functions, ensuring that […]
Managing payroll can be a daunting task for businesses of all sizes. The intricacies of calculating wages, deductions, and ensuring compliance with ever-changing regulations can lead to headaches for even the most organized HR teams. Enter INTERAC Payroll Software Solutions – a game-changing tool designed to simplify and streamline the entire payroll process. In this […]
