Insights

The Value of Co-Op Pricing in Outsourced Accounting Services

The year is 1924. You’re the owner of a small hardware store, and a vendor has come to sell you sponges. The problem is, the sponges are too expensive. So you ask for a better price. The vendor says if you buy 100 sponges, he’ll sell them for a lower price overall.

6/14/2019
Services: Audit and Accounting
By: Tony J. Battaglia

ASC 606 Revenue Recognition Adoption Methods: Full Retrospective or Modified Approach

U.S. generally accepted accounting principles (GAAP) require nonpublic entities to apply the new revenue recognition standard for annual reporting periods beginning after December 15, 2018, and interim periods within annual reporting periods beginning after December 15, 2019. Previously, companies could use industry-specific guidelines for recognizing revenue from customer contracts, but now they must adopt a consistent principles-based approach using the ASC 606 framework.

6/12/2019
Services: Audit and Accounting
By: Brad Werner

6 Benefits of Streamlining Your Open Enrollment Process

As an HR professional, you know how much of your time open enrollment takes. The process is not only far longer than the average employee realizes but also far more work. But how much time and effort it takes your team is dependent on how your organization tackles open enrollment.

6/11/2019
Services: Human Capital Management Solutions
By: Chris Riba

5 Life-Changing Outlook Features You Probably Don’t Know You Have

We all get busy in our day. It’s easy to miss or underutilize the things that can help make our lives easier and more organized. We generally don’t even think about how many emails we get in just one day, and we certainly never seem to have the time to explore Outlook’s features and see how we could benefit from using them. But the truth is, there are many Outlook features that could improve the quality of your day-to-day work life — and you probably don’t even know about most of them.

6/11/2019
Services: Consulting, Technology

How Outsourced Accounting Services Help Ace Hardware Owners Get Back to Customers

As an Ace Hardware store owner, you pride yourself on your customer service. But running a store and providing quality service come with challenges. Do you find you can’t spend the time you want with your customers because you’re trapped behind a wall of accounting tasks? Are you not receiving reliable financial information fast enough to make strategic business decisions? Are you missing the proactive advice you need to grow your business?

6/6/2019
Services: Audit and Accounting
By: Tony J. Battaglia

Economic Nexus Reporting Requirements Reference Table

The states listed in the table below have either enacted sales tax economic nexus filing requirements or are in the process of adopting reporting requirements either legislatively or through administrative rule as of June 6, 2019. Keep in mind that the sales threshold may be defined differently from state to state. The sales threshold may be a combination of both taxable and exempt sales or taxable sales only.

6/5/2019
Industries: Agribusiness, Construction and Real Estate, Dealerships, FinTech, Financial Institutions, Financial Services, Freshwater, Insurance, Manufacturing and Distribution, Private Equity
Services: Tax
By: Craig A. Cookle

Health Savings Account Cost of Living Adjustments Announced for 2020

The Internal Revenue Service (IRS) has announced in Revenue Procedure 2019-25 the annual cost of living adjustments for Health Savings Account (HSA) contribution limits for calendar year 2020. These limits apply for qualifying High Deductible Health Plan (HDHP) deductibles and out-of-pocket maximums. Important for individuals and businesses alike, plan sponsors should verify that their administrative and payroll systems reflect the appropriate limits.

6/4/2019
Industries: Agribusiness, Construction and Real Estate, Dealerships, Financial Institutions, Financial Services, Freshwater, Governments, Health Care, Insurance, Manufacturing and Distribution, Nonprofits, Private Equity, FinTech, Tribal Gaming and Government
Services: Human Capital Management Solutions

Business Roundtable Summary: How Leadership Transition Goes Beyond Succession

This year’s Small Business Strategies Roundtable in Minneapolis covered a very pressing topic for many leaders: business transition. An often emotional topic for private companies, family businesses and even public companies, succession planning is key to a business’s long-term success. But there’s more to it than you might think.

6/4/2019
Industries: Manufacturing and Distribution, Private Equity, Construction and Real Estate
Services: Business Succession Planning