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Gaining Customer Awareness for Your New Business

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As a new business owner one of your first priorities is to get the word out about your company. Grassroots marketing can be a low-cost but effective way to gain a large amount of exposure to locally owned businesses or other specific audiences.

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Accounting Isn’t a Stand-Alone Activity

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When clients start with us, they often question the amount of information that we request. “My My old bookkeeper didn’t ask for all this” is a statement we hear often. Managers want to hand off their accounting and let it happen in its own vacuum.

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Benefits of GAAP

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The benefits of following GAAP for Small Business: Many small business owners shy away from anything associated with Generally Accepted Accounting Principles (otherwise known as GAAP) thinking they apply only to large publicly held organizations. This thinking is far from true, however.

Fraud and Internal Controls in Small Business

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Each year the Association of Certified Fraud Examiners puts out a report that identifies trends and key findings related to fraud over the past year. Some of the highlights seem unreal as you look at them for the first time.

The CFO Playbook: How to Decrease Costs & Increase Engagement

Learn how to reduce costs while simultaneously increasing employee morale.

Shifting Competencies in Project Mangers

SMBAccountant

The field of project management is constantly evolving to meet the needs of the modern workplace. Tools, techniques, and competencies that were prioritized when hiring or leading a project have shifted, especially in the past 20 years.

Income but no cash?!

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Income but no cash?! How does that happen?? How could a business be making money according to their profit and loss but have no money… or even worse, negative cashflow?

Fixed Price and Cost Reimbursement Contracts

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When applying for government contracts, it’s important to understand the types of contract options that are available to you. Each type of contract carries its own risks and opportunities and can help you make decisions when compiling your proposal.

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Common Accounting Mistakes: Government Edition - Issue #12 R&D

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Many small business federal contractors begin with research and development (R&D) contracts or grants as part of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Common Accounting Mistakes: Government Edition - Issue #10 Indirect Rate Calculations and Associated Risks

SMBAccountant

Indirect rates are not exclusive to government contractors. As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service.

Common Accounting Mistakes: Government Edition - Issue #9 How Quality Management Effects Accounting

SMBAccountant

When operating a small business, sometimes it is easy to avoid administrative tasks that seem unnecessary for a business of your size, such as implementing a total quality management plan. Though it may feel excessive in the beginning, that is exactly when you want to start!

Virtual Cards — Everything You Need to Know

Speaker: Eoin Hession, Controller at Recharge

Even though virtual cards have been part of the payments system for over ten years, there remains a lack of clarity around how they work and their value to companies large and small. In this webinar, Eoin Hession, Controller at Recharge, talks about how his company uses virtual cards in their operations. Sign up today!

Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

There are certain expenses that a business incurs that the federal government does not reimburse.

Common Accounting Mistakes: Government Edition - Issue #7 Accounting for Fixed Price vs Cost Contracts

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For small businesses working to attain contracts through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs, the first phase of the project is typically a firm fixed price (FFP) contract.

Shannon Bloom Earns CFE Credential

SMBAccountant

Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential.

Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?

SMBAccountant

One of the most common errors made by executives in a small startup is assuming that the reporting basis for accurate financial statements can be changed by clicking the single button at the top of the QuickBooks report. It seems simple, but in reality entails much more.

Common Accounting Mistakes: Government Edition - Issue #11 What is GAAP?

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Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP?

Building Smart with Distributed Teams

Speaker: Sam Ross, General Counsel at Remote; Jenny Bloom, former CFO at Zapier & Darren Murph, Head of Remote at GitLab

It’s clear that distributed teams are here to stay in some form or another. Adapting to this reality means finding the right systems and processes that support remote workers — including international ones — while controlling for risks and communication challenges. Watch to find out more!

5 Reasons Why You Should Use a Project Management Tool When Doing Your Taxes

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When doing your taxes, there are a lot of things to keep track of. If you're trying to do it all yourself, it can be tough to stay organized and make sure you're including everything. Using a project management tool can help make the process easier and less overwhelming.

Errors in Posting Payroll

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Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. The largest expense for many businesses is their labor expense, yet it’s often the most misunderstood.

Welcome Caitlin Wyatt!

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You may have noticed a new name popping up on emails from our office in the last few months. That’s right, the SMB team has recently grown by another member, and we thought it was finally time to formally introduce her! Caitlin Wyatt joined the team this past July as a bookkeeper.

Common Accounting Mistakes: Government Edition – Issue #3 Policies and Procedures

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Policies and procedures are a formalized way of defining how a company chooses to run their business. They may not be written down or overly detailed, but even the smallest companies have their own way of doing things. When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.

Telling a Great Story with Data

Speaker: Jeff Epstein, Operating Partner at Bessemer Venture Partners, & Aneal Vallurupalli, CFO at Airbase

Data can create and even change a story — this is a key theme in an enlightening discussion between Jeff Epstein, Operating Partner at Bessemer Venture Partners, and Aneal Vallurupalli, CFO at Airbase. Watch the video to discover how!

Common Accounting Mistakes: Government Edition - Issue #2: Budgeting

SMBAccountant

Budgets are necessary for any business. They help develop strategy, control costs, and are a great internal control. Many small businesses have difficulty developing a budget, especially during their startup or high growth periods. Budgets may be the most artful part of accounting. They are a best guess, and a goal to work towards. Government contractors have an even harder and more dire concern when it comes to cost plus contracts.

Project Management: Integration

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Integration management is defined by the PMBOK as a collection of processes required to ensure that the various elements of the projects are properly coordinated. It involves making trade-offs among competing objectives and alternatives to meet or exceed stakeholder needs and expectations.

Common Accounting Mistakes: Government Edition - Issue #6 Fixed Assets

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Nearly all businesses have some kind of fixed assets. A fixed asset is something purchased or assembled that is intended for long-term use. It is not a liquid asset and cannot be converted quickly to cash. The useful life, or amount of time the asset should be useful to the company, must be greater than one year and be greater than the established corporate limit. Most companies set a threshold in their accounting policies to avoid wasted time and effort on immaterial or low cost items.

Project Management: Scope

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When your company has the opportunity for a new project, it can be very tempting to accept any offer that comes your way.

Making A Bigger Impact with Automation

Speaker: Nadia Asoyan, VP of Finance at Trusted Health, and Amer Ali, VP of Finance at Netlify

Learn about the automation mindset behind some of the most efficient companies. Discover how to evaluate accounting software to ensure that your tech stack works for your company’s needs today, and that it will scale into the future. Download today!

Project Management Series: What is Project Management?

SMBAccountant

The term “project management” is often used in business to mean the general day to day actions associated with a project. This is only a portion of the overarching task of project management.

Common Accounting Mistakes: Government Edition - Issue #10 Indirect Rate Calculations and Associated Risks

SMBAccountant

Indirect rates are not exclusive to government contractors. As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service.

Why You Need A Controller

SMBAccountant

Why you need a Controller? Owning a small business is an incredibly rewarding opportunity but it can sometimes feel overwhelming. As owners, we all wear many hats and it can be difficult to balance the creative, managerial, and financial decisions all on our own. Professionals such as controllers can help small business owners concentrate on what they do best. Do you know when it’s time to hire a controller? What is a controller and how are they different from an accountant or bookkeeper?

Shannon Bloom Earns CFE Credential

SMBAccountant

Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential.

What I Wish I Knew: How To Build a Data-Driven Company

Speaker: Rachel Bradley-Haas and Aneal Vallurupalli

All companies need data to drive their growth and make good decisions, but timely access to relevant, clean data requires more than data feeds. It takes a shift in thinking and a change to the way all operating units approach their jobs. Download the video to find out more from Co-founder of Big Time Data, data engineer Rachel Bradley Haas.

Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?

SMBAccountant

One of the most common errors made by executives in a small startup is assuming that the reporting basis for accurate financial statements can be changed by clicking the single button at the top of the QuickBooks report. It seems simple, but in reality entails much more.

Space Coast Business – Women in Business

SMBAccountant

Shannon Bloom featured in SCB’s Women in Business. Shannon continues to impress! Check out her feature in Space Coast Business – Women in Business issue! Be on the lookout for more articles as she continues to grow SMB Accounting and Consulting. View the Article Online

Space Coast Business – Women in Business

SMBAccountant

Shannon Bloom featured in SCB’s Women in Business. Shannon continues to impress! Check out her feature in Space Coast Business – Women in Business issue! Be on the lookout for more articles as she continues to grow SMB Accounting and Consulting. View the Article Online

weMean Business Expo 2020

SMBAccountant

SMB Accounting and Consulting is excited to be part of the upcoming weMean Business Expo 2020.

Management Techniques for Offshore Employees

This whitepaper looks at the changes and challenges that stem from remote hiring and current HR trends that address them. Download this comprehensive guide to learn more!

weMean Business Expo 2020

SMBAccountant

SMB Accounting and Consulting is excited to be part of the upcoming weMean Business Expo 2020.

Common Accounting Mistakes: Government Edition - Issue #9 How Quality Management Effects Accounting

SMBAccountant

When operating a small business, sometimes it is easy to avoid administrative tasks that seem unnecessary for a business of your size, such as implementing a total quality management plan. Though it may feel excessive in the beginning, that is exactly when you want to start! It is much easier to build a program as you grow rather than try to implement one later. The core of a total quality management is to say what you do, do what you say, and have documentation to back it up.

Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts. These costs may be considered unreasonable, or not is support of the government mission.

Common Accounting Mistakes: Government Edition - Issue #7 Accounting for Fixed Price vs Cost Contracts

SMBAccountant

For small businesses working to attain contracts through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs, the first phase of the project is typically a firm fixed price (FFP) contract. This type of contract requires justification for the overall price of the proposal, but once awarded no adjustments are made based on the price of performing the agreed upon work.

Why Offshoring is Better than Outsourcing

Offshoring and outsourcing are not interchangeable, as they differ in purpose depending on what drives the need behind the hiring decision. In this whitepaper, we clarify what offshoring and outsourcing are, along with the unique use cases they address.