Resources

Tracking financial metrics is an essential part of running a successful company.  Business owners are often bombarded with different accounting and financial information.  In many cases, sorting through all of the different statements and workbooks can be a confusing headache.  Compounding the problem, different types of financial reporting often require the same transaction to be…

Responsible business owners will make sure to have enough cash in their business at all times to not only pay for expenses but also prepare for unforeseen circumstances. This begs the question—how much cash is enough? How much cash is enough? As a general rule, many have recommended that businesses should have enough cash to…

The Paycheck Protection Program (PPP) was established by the CARES Act to aid small businesses during the financial uncertainty of the COVID-19 pandemic. In conjunction with the Department of US Treasury, the Small Business Administration (SBA) provided PPP loans to small businesses to fund up to eight weeks of payroll and other business expenses.  …

One of the most important tools in keeping business operations running smoothly is working capital. Working capital is the capital used in day-to-day operations of a business. It’s calculated as subtracting current liabilities from current assets. In this article, we’ll explore the importance of maintaining sufficient working capital and provide a brief discussion of the…

When seeking outside funding, businesses should be aware of the financial ratios investors will examine to determine a company’s financial health. There are many ratios that investors can look at, but this article outlines several of the common financial ratios banks and other investors care about.   Debt-to-Assets and Debt-to-Equity Ratios The debt-to-assets and debt-to-equity…

As accountants, we love helping people take advantage of existing benefits to help save them money. Where does that show up? Your tax return. The most recent numbers show that more than 45 million people itemized deductions on the 1040 tax form, amounting to about $1.2 trillion dollars worth of tax deductions. That same year,…

If you’ve been paying attention to the business dialogue in the last few years, you’ve noticed a constant debate on the topic of outsourcing. Supporters of outsourcing and contracting argue that a company can focus on its core competencies by getting rid of accessory business operations. The other side holds that keeping tasks in house…

In an effort to ease the financial burdens experienced by businesses during the COVID-19 pandemic, the US federal government included the Employee Retention Credit in its Coronavirus, Relief, and Economic Security (CARES) Act. The Employee Retention Credit provides businesses with a refundable tax credit based on their full-time employees’ “qualified wages,” which provides the incentive…

What Are the Differences Between Profit and Cash Flow? Profit and cash flow are two important terms in the financial world, and while they may seem to be referring to the same thing, they are distinct measurements of a company’s financial health. Since a proper understanding of both profit and cash flow are essential to…

One difficult decisions facing many new business owners is which accounting software to use. In the past, most business owners have started out with using QuickBooks Desktop (QBD). In many cases, QBD is still a great option. However, for growing companies, there is an easier, more efficient product on the market. In this article, we’ll…