Maintaining Payroll The beginning of the year is behind us, but we still have a lot to look forward to. For one thing it means learning from last year’s mistakes and starting fresh. Chiefly, the payroll process is one area…
Read MoreShoebox Accounting: Reasons to Computerize
Getting Away from ‘Shoebox Accounting’ (Reasons to Computerize) In the business world, time means money. Accounting systems, or lack there of, can be extremely costly especially for businesses that use ‘shoebox accounting’. The colloquial term refers to the practice or habit…
Read MoreAre Software Costs Expensed or Capitalized?
Should Internally Developed Software Costs be Expensed or Capitalized? This appears to be a simple question, however, the answer is more complicated than one would expect. There are many factors that affect how internally developed software costs should be treated. …
Read MoreAre CPA’s Solely Tax Gurus?
Are CPA’s Solely Tax Gurus? The simple answer is no. Certified Public Accountants (CPA) are much more than just tax gurus. These professional accountants are trusted business advisors whose services are only limited by the expertise and experience of each…
Read MorePreaward Survey Failures– Part 2
Top 5 failures in a Preaward Survey Part 2 of 2-part series In part 1 of this series, we identified the top 5 epic fails of the preaward survey as involving the labor distribution, policies and procedures, generally accepted accounting…
Read MorePreaward Survey Failures– Part 1
Top 5 failures in a Preaward Survey Part 1 of 2-part series The preaward accounting system survey or audit (better known as preaward survey) is an evaluation on the prospective contractor’s accounting system. It is documented on SF 1408. This evaluation…
Read MoreWhy a Small Business Should Have a CPA
Why a Small Business and Start-up Companies Should Have a CPA Accountants can assist with all stages of your business. Most entrepreneurs don’t realize the value a CPA can add to their business; accountants are not just for preparing payroll…
Read MoreIs Your Data Safe?
What small businesses need to know about data security Does your company have sufficient safeguards in place to protect client, employee, and company data? Donna Dietz, president at CMIT Solutions, states that hackers prefer small to medium size businesses. Why?…
Read MoreIRS Final Regs on Expensing Property
Final changes which will be effective January 1, 2014, have been made to the IRS’ temporary 2011 de minis expensing (cap policy). Now is the time to begin reading up on how these changes will affect your company (here on…
Read MoreVery Important QuickBooks Lists
In QuickBooks, there are three very important LISTS that provide the framework for all of your transactions. When encountering account coding difficulties within the QuickBooks transactions, you should refer to your lists for an understanding of your basic accounting set…
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