Do you have your finger on the pulse of your company’s financial health? Having insight into your financial data is key to making strategic decisions that can increase your company’s efficiency and profitability. Financial dashboards are valuable tools to help you gain this insight.
The end of the year is a critical time for your business. Accurately and efficiently closing your books at year-end is essential to success – helping you analyze the decisions you’ve made in the past year, remedy any issues, and make informed decisions for the year to come, as well as preparing the business for proper tax reporting and filing.
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law calls “pension-linked emergency savings accounts.”
During times of uncertainty, it’s important to evaluate the effectiveness of internal operations like accounting and finance.
In Part 1 of this three-part blog series, we introduced benchmarking and chose four staffing companies from clients in the employment services industry to demonstrate the financial metrics that we used for benchmark analysis. In part 2, we will take a look at the key findings from this analysis.
"Benchmarking" is the process of measuring the products, services, processes, and financial performance of one company against those of similar companies that are known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand your company’s position and performance within the industry and even across industries, and further helps you identify specific areas, systems, or processes in which your company can improve.
On a list of things you like to do, paying bills likely ranks somewhere near the bottom. Which is not surprising since it's time-consuming, prone to errors—especially if paper is involved—and fixing mistakes can be challenging at best. Not to mention the security and fraud concerns associated with sending checks in the mail.
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as an LLC and why it might be appropriate for your business.
