Category: Small Business
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Preparing for an audit of your nonprofit organization
Most nonprofit organizations are required to present an annual audit, review or compilation report prepared by an independent accountant. The requirement might be incorporated into the organization’s bylaws or might be required by a government agency or funding organization. The cost of an accounting procedure is substantial and depends on many factors. For discussion purposes…
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What they don’t tell you about Office 365 for Business Premier
In September 2016 Microsoft improved the features its flagship Office platform offering for business clients. The reviews are impressive. I was having trouble with my Google for Work account at that time that I wrote about in another blog post. Microsoft Office is the platform of choice for the majority of financial service firms and nonprofit…
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Why I switched from Google for Work to Microsoft Office 365 Premier for Business
Editorial note: After publication I was corrected and learned that Google can be used offline. The editorial is incorrect in that regard. About a month ago I dumped my Google for Work account and decided to upgrade my Microsoft from a personal account to a business account. Here are some reasons why I turned away from Google…
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Another risk for crowdfunded products
Crowdfunding Insider warns that if a successful crowdfunded product is easy to copy, it will be copied and offered at a lower price by Chinese manufacturers. The risk is that crowdfunding companies put their best ideas online for public viewing before they have any developed markets or brand loyalty. Customers who found them online can…
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Tax collection: Uncivil or just dumb?
Yesterday the Pennsylvania Department of Revenue sent a collection agent to the business office of a local client over a $294 shortage of payroll tax withholding in 2011 through 2014 where the state then added over $750 of interest and penalties. The total bill with interest and penalties is a little over $1100. The business…
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Pennsylvania divided
The election discussion is drawing attention to the widening political divide between my two major client groups. Nate Silver, writing for fivethirtyeight.com says “eastern Pennsylvania is becoming more Democratic while western Pennsylvania is becoming more Republican”. This confirms the trend that I noticed that even seems to be affecting my business practice. This graphic shows the…
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No excuse accounting
Last week I wrote that there are no excuses for an accounting system that does not reconcile with the bank and financial accounts. This week Insightful Accountant carried this article about the improved reconciliation features within QuickBooks online accounting system. QuickBooks accounts for more than 3 out of 5 small business and nonprofit organization accounting systems. I think…
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Small business advertising that’s better than TV commercials
Three types of marketing generate a more positive user experience than TV commercials according to Hubspot. Everyone seems to have a solid understanding and opinion of TV commercials as an advertising medium so this seems like a natural benchmark for discussion. This revelation is important to small businesses that typically do not have access to…
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The Accountant’s ‘Come to Jesus Moment’
“We don’t see things as they are, we see things as we are” – a Talmudic saying attributed to Rabbi Shemuel ben Nachmani who lived 1600 years ago. I read an online discussion thread last night among accountants describing a series of talks they are having this week with some of their small business clients. Some…
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The IRS requirement for personal auto mileage records
You drove your car on business trips. You made a report of how many miles you drove for business, the dates, the specific destination and the purpose of the trips. You have all the expense receipts for gas and other out-of-pocket expenses. You submitted the expense documentation to your employer who reimbursed you. This is a…