Small Business Financials

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Finance & strategy Tags Remote working Stress management Time management * This article was originally published here Check out https://www.johannakimball.com

Remote work flexibility has become a common thing for companies in 2021 and it can ultimately lead to them retaining their staff. After the COVID-19 pandemic, people got a real taste of what working from home was like and this was probably one of the biggest adjustments companies had to make as the dust settled. A study by the global staffing firm, Robert Half, shows that about 1 in every 3 professionals working from home due to the pandemic would look for a new job if they were required to return to the office full-time. Here at AccountingDepartment.com, we have been a fully remote company since our beginnings in 2004 and we've learned a thing or two as time went on about keeping your employees happy, engaged, and sticking around. Today, we are going to review some of the "must-dos" and dont's management should avoid when switching to a remote workforce. First, however, let's cover some basic benefits of a remote workforce. The most stand-out benefit

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  "Abracadabra, thus we learn the more you create, the less you earn.  The less you earn, the more you're given, the less you lead, the more you're driven, the more destroyed, the more they feed, the more you pay, the more they need, the more you earn, the less you keep, And now I lay me down to sleep. I pray the Lord my soul to take, if the tax-collector hasn't got it before I wake." Ogden Nash, American Poet, 1902-1971 * This article was originally published here Check out https://www.johannakimball.com

Accounting software Tags Accounts production Practice Management Software Tax software * This article was originally published here Check out https://www.johannakimball.com

Finance & strategy * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser How to refine the use of accounting reports * This article was originally published here Check out https://www.johannakimball.com

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Audio is not supported in your browser How target costing can improve your product margins * This article was originally published here Check out https://www.johannakimball.com

Excel * This article was originally published here Check out https://www.johannakimball.com

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You must be an account receivable, because you're outstanding  “As a student, you are either struggling academically, financially, or emotionally.”  If you’re an auditor, well... all three. -- “Treat me like interest. Compound me.” “Work-life balance in audit is like Santa. We all wish it existed, but it does not.” “My boss thinks taking us out to dinner is a bonus. I don’t need his dinner I need cash.” “Are you a bank loan? Because you have my interest.” “If you could be any TB account? Which would it be?”  -  Goodwill because people never want to write you off If I could substantively test how boys felt about me, my life would be so much easier. I could send confirms to their exes, recalculate average time between reading your texts and replying, doing a search for "unrecorded liabilities" aka side hoes Originally collated and shared on the twitter account @overheardaudit * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser New rules about disclosing pro forma information for business combinations * This article was originally published here Check out https://www.johannakimball.com

Some years ago on my first visit to Penrith, Cumbria, to present a talk to the local CIOT branch, I took a cab to the venue. The driver asked me what I was doing in Penrith and I explained: “I’m here to give a lecture to a group of tax advisers”. For a moment I was thrown as he seemed very miffed. It then became clear from his reply that he had misheard me: “It would be nice to have been invited. I’ve been a taxi driver here for over ten years!” I was unable to keep a straight face! I shared the story during my talk and at the tea-break one of the delegates came over to explain she’d had a similar problem recently. When arranging her car insurance by phone, she was astonished by the premium quote. It was more than 8 times what she had paid the previous year. She queried the figure and was told this was due to her profession, and the risks inherent in this. “What are the inherent risks of being a tax adviser?” she asked. At which point it became apparent the insurer had thought she said

Kitti Crawford is our Staff Success Ambassador at AccountingDepartment.com and her main function is to assist our new and tenured staff members with training as they grow into their roles here at ADC. Kitti has been with us since 2006 and has been excelling in her current position for the past 4 years. When Kitti was preparing to start college, she had three career paths that were under strong consideration to pursue. Now, she gets to experience a little bit from all three options, while helping AccountingDepartment.com and its employees grow! * This article was originally published here Check out https://www.johannakimball.com

Accounting software Tags Business advice Finance Leadership * This article was originally published here Check out https://www.johannakimball.com

Growth * This article was originally published here Check out https://www.johannakimball.com

Growth * This article was originally published here Check out https://www.johannakimball.com

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With the introduction of the American Rescue Plan back in March, the Child Tax Credit underwent a couple temporary changes for tax year 2021. One of the main adjustments included allowing families to receive part of the Child Tax Credit as monthly payments rather than waiting to get all of the money as a refund when they file their tax returns. This is considered an advance of the credit. The premise behind this change is to continue to help families who experienced a financial hit during the COVID-19 pandemic. On June 7, the IRS officially announced the payment dates, with the first round of payments starting on July 15, 2021. The payment timeline is as follows: July 15, 2021 August 13, 2021 September 15, 2021 October 15, 2021 November 15, 2021 December 15, 2021 Check Your Mailbox The IRS has started sending letters to the American families who may qualify to receive monthly Child Tax Credit payments . If you believe you may qualify, be on the lookout for two different le

Budget variances are the difference between a planned budget amount and an actual amount. An analysis of budget variances will reveal the reason behind failures. It helps point out the trends to make your company a success. A budget analysis should be performed at least once every quarter at a minimum and when the market changes due to a crisis like COVID-19, it should be done every week. You need to know the right time to respond to environmental changes and market fluctuations. * This article was originally published here Check out https://www.johannakimball.com

Having tax write-offs is a great way to save your business money. Here's a list of some tax write-offs that you may be entitled to this tax season. * This article was originally published here Check out https://www.johannakimball.com

Financial reporting Tags Accounts Consolidation Management reporting * This article was originally published here Check out https://www.johannakimball.com

Growth * This article was originally published here Check out https://www.johannakimball.com

Trends * This article was originally published here Check out https://www.johannakimball.com

Chiropractors don’t like HMRC because they’re always after back taxes  Police officers object to the extra duty  Cardiologists find them heartless  Podiatrists hate having to foot the tax bill  Gym owners don't like have to pay exercise duty  Fairground owners struggle with their tax dodgems  Librarians hate the HMRC for all the extra bookkeeping required  Detectives say that HMRC send them figures that just don't add up  Pet shop owners just hate perch's tax  Post Office workers don’t like Stamp Duty  Headline Writers hate Capital Gains Tax  Newlywed grooms pay more when they carry their brides over the threshold  Musicians don’t like HMRC because they always want too many notes * This article was originally published here Check out https://www.johannakimball.com

HMRC & policy * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Steve interviews Mark Nickson, President of Telliris, about timekeeping by telephone. * This article was originally published here Check out https://www.johannakimball.com

Audio is not supported in your browser Recording reimbursed expenses as revenue, and why this is a bad idea * This article was originally published here Check out https://www.johannakimball.com

Like anyone, you want to feel secure when it comes to your finances. This could mean having a reliable stream of income, saving up a certain amount of money for retirement, not being in debt, and being able to make investments. Unfortunately, many people are not in a good financial position and struggle to just pay for basic expenses. For instance, only 39% of Americans could afford an unexpected emergency expense , while 21% have no retirement savings and 10% have less than $5,000 in savings. To ensure that you have money when you need it and can meet your financial goals, you can come up with a monthly financial routine to follow. Knowing that your finances are in order will save you from a lot of worrying and ensure your financial freedom. Here are some tips to get started with your routine. Regularly Check Your Account Statements Ideally, your money management should include a look at all your account statements more than once a month. Some accounts may include checking, sa

What is break-even analysis? The break-even point is when your company is not making any profit. At the same time, it is the place in time where your company is not making any profits either. Basically, your company is covering expenditures but not gaining any profits. A break-even point gives you a target of what you need to shoot for to make profits. If you don't know your company's break-even point, you are shooting in the dark and you cannot see your target goal. A break-even analysis is definitely a very important function for your company. Knowing your company's break-even point can help you establish the right pricing and financial strategies. It helps you understand profits and losses and if you can't cover expenses, your company is just losing money. * This article was originally published here Check out https://www.johannakimball.com