What level of supervision does your accounting department need to efficiently and effectively operate?

When you review the bookkeeping procedures in your office, where do you find the chief concern? Do you struggle everyday just to get the basics accomplished? Or maybe it is it at the end of the month, and the reconciliation has discrepancies. Maybe it is a combination of both. When I work with clients, we evaluate the need, intention, and expectation for the accounting department. Outlined are the steps to make that determination. Going through this exercise, allows you to make the best plan for your needs.

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PPP Loan—Is it Time to Ask for Forgiveness?

Many of the businesses, who received the Paycheck Protection Program (PPP) loan in April and May, have spent all of the funds.  Now, they are anxious to get the loan forgiven so they do not need to repay it. However, is this the time to complete the forgiveness form and send it to their banker…or not?   For now, we say “Don’t rush!   It is better to wait until more information is known.”  Here are 5 reasons to wait.

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Think Twice Before Tapping into Your Retirement Savings

New legislation – the CARES Act –permits qualified individuals to take early distributions from their retirement assets, such as their 401(k) or individual retirement account (IRA) — penalty free. The rules – which sunset after 2020 – are designed to help the many cash-strapped Americans who have suffered financially as a result of the coronavirus epidemic. But tapping into your retirement savings has its costs, and there may be better ways to shore up your short-term cash flow.

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