Auto Dealers Can Fill Gaps Between Inventory and Collections with Smart Debt Management

In the life cycle of any auto dealership, there will be times when cash flow is tight. Buy here pay here dealers in particular face complexity to ensure enough inventory is on hand to attract buyers — and offset that investment with a healthy flow through collections and debt management. This balance is never perfect. … Continue reading Auto Dealers Can Fill Gaps Between Inventory and Collections with Smart Debt Management

Outsourced Payroll Onboarding: Build in Time for Transition and Results

Every company or organization will have different needs for payroll administration based on business and compensation structures, benefit offerings, the specific industry and the state and local tax laws. While determining a good fit for outsourced payroll, anticipate how much time the set-up of such services could take. A long set-up time and possible mistakes … Continue reading Outsourced Payroll Onboarding: Build in Time for Transition and Results

Things to Ask your CPA about Payroll Outsourcing

For many small businesses, payroll may be handled in-house. And yet, the laws and regulations surrounding employee compensation and benefits can challenge owners and back office staff to stay efficient and compliant. Payroll ties directly into individual and company tax reporting as well as employee benefit compliance. If and when companies choose payroll outsourcing, they … Continue reading Things to Ask your CPA about Payroll Outsourcing

The Most Common Types of Restaurant Theft

In regards to restaurant theft of food or supplies, at your POS, in accounting processes, or of intellectual property, mitigating the risk of loss through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building … Continue reading The Most Common Types of Restaurant Theft

Outsourcing Payroll Administration and Compliance

There is a common story we see across small businesses of all sizes. Owners and operators of the company are focused on top line growth, hitting the pavement to bring in new business. They add employees to support the new business growth. They add benefits to keep those great employees. Before realizing it, the owners … Continue reading Outsourcing Payroll Administration and Compliance

Protect Your Restaurant from Employee Embezzlement

Mitigating the risk of loss in restaurants through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building and maintaining sales volume, the reduction of theft can improve those concerns for restaurateurs. We review the … Continue reading Protect Your Restaurant from Employee Embezzlement

Increasing Cash Flow with Lines of Credit

The average used auto dealership operates differently today than it did prior to 2008. Although margins can be healthier for “buy here pay here” dealers than for market rate dealers, accounting for these dealerships is complex. And cash flow is a constant concern. Dealers must balance inventory investment with collections. Yet, receivables alone don’t support … Continue reading Increasing Cash Flow with Lines of Credit

Avoid Hiring Mistakes with a Systematic Process

Often, bad hiring decisions don’t become apparent for weeks or months. Then, it might take much longer to rectify hiring mistakes, whether that means a termination or resolving the performance issues. Here are some of the most commonly reported hiring mistakes, and some tips for avoiding them. Consider the Consequences Perhaps the biggest error is moving … Continue reading Avoid Hiring Mistakes with a Systematic Process

Resolving Overtime Pay Disputes

The federal overtime law can lend itself to differing interpretations. In those cases, workers may challenge how an employer applies the rules. Under the Fair Labor Standards Act (FLSA), eligible employees must be paid time-and-a-half their regular pay rate when they work more than 40 hours a week, unless there’s an exemption. Here are three examples … Continue reading Resolving Overtime Pay Disputes

Business Owners: Understand the Trust Fund Recovery Penalty

The IRS is strict about collecting payroll taxes and tough on “responsible persons” who don’t pay them. Withheld federal income, Social Security, and Medicare taxes are known as “trust fund” taxes because they are held in trust until they’re paid. If they aren’t paid, the IRS can assess liability for 100% of the unpaid amount on … Continue reading Business Owners: Understand the Trust Fund Recovery Penalty