CLIENT ACCOUNTING SERVICES

A Snapshot of the FASB’s New Goodwill Impairment Standard

With digital cameras, taking a photograph is typically a simple process with two steps: point and shoot. Another two-step process – according to a recently issued mandate from the Financial Accounting Standards Board (FASB) – is the goodwill impairment test. The FASB’s new goodwill impairment standard eliminates Step 2 of the test, thereby reducing the [...]

Teamwork Makes the Dream Work in Client Accounting Services (CAS)

Business owners are often faced with a wide variety of choices – such as whether to offer employees bonuses or how much to budget for equipment purchases. Working closely with a trusted advisor can help entrepreneurs understand how such actions can impact their operations. Watch as Shannon West explains why collaboration is key [...]

February 15th, 2017|CLIENT ACCOUNTING SERVICES, VIDEO|

How to Use Real-Time Financial Data to Improve Your Cash Flow Forecast

Real-time weather data has transformed our lives. Long gone (for most of us!) are the days of being caught in a rainstorm without an umbrella or in a bulky sweater on an unseasonably warm day. Similarly, accounting systems that provide an up-to-the-minute look at a company’s condition mean that businesses are better prepared to avert [...]

February 1st, 2017|CLIENT ACCOUNTING SERVICES|

Living the Dream: 5 Ways to Make Invoice Processing More Effective

Ahh! The entrepreneurial American dream: A business owner strikes out on her own to provide a product or service that her customers didn’t know they needed. Her clients place such a high value on her work that not only are they surprised at how affordable the offering is, but they pay for it as quickly [...]

December 28th, 2016|CLIENT ACCOUNTING SERVICES|

4 Steps on the Path to Timely Payments “Paradise”

Sending clear invoices in a timely manner and to the right person in the payables department – as well as following up on those invoices – is essential to being paid on time. However, effective invoice processing is just one aspect of receiving timely payments. Below are four additional steps to realizing the nirvana of [...]

December 27th, 2016|CLIENT ACCOUNTING SERVICES|

Cars and Accounting Technology: Joined by Metamorphosis

We typically think of metamorphosis as a biological process. For example, a caterpillar spins itself in a silk cocoon and then emerges as a butterfly. However, the term – which comes from the Greek word for “transformation” – could just as easily apply to the technological changes that have occurred over the last few centuries. [...]

December 20th, 2016|CLIENT ACCOUNTING SERVICES|

DOL Overtime Rule Injunction: Early Holiday Present for Small Businesses

The DOL recently issued a new overtime rule that was set to become effective on December 1, 2016. The main item in the new DOL rule impacting small businesses revolved around which employees may be exempt from overtime pay under the “white-collar exemption.” According to the new rule, to qualify for this exemption, an employee [...]

November 28th, 2016|CLIENT ACCOUNTING SERVICES, DECEMBER 2016|

5 Simple Steps to Make Your Financial Statements User Friendly

Are you a business owner who struggles to compile information to produce an accurate financial statement? Watch as Debbie Alexander discusses five steps you can take to simplify your financial statement activities.

Clean Up Your Processes for Forms W-9 and 1099

If you are a business owner, wading through what is required for your annual Form 1099 tax filing can feel daunting. Three of the most common questions are: When should W-9s be requested from vendors? When should 1099s be issued to vendors? What are the best practices for avoiding potential problems in 1099 reporting? No matter [...]

April 12th, 2016|CLIENT ACCOUNTING SERVICES, MAY 2016|

Financial Statement Preparation: Four Tricks to Power Up Business Performance Tracking

Most of us have played a video game at some point in our life – likely even Super Mario or Donkey Kong. Some people scour online to find helpful tricks that will help them advance to the next level. Similarly, many of us are often looking for ways to help advance our business, and financial [...]

Living on Cloud Nine with QuickBooks Online

“If you like your QuickBooks, then you can keep it.” When you heard similar words said about your health care insurance, they likely sounded convincing. But the unspoken truth was that your health insurance carriers were no longer going to offer the same plans as a result of the disruptions created by new laws and [...]

February 2nd, 2016|CLIENT ACCOUNTING SERVICES, DECEMBER 2015|

Slicing the Pie: 3 Reasons to Differentiate Between Controllable and Non-Controllable Costs

Revenue sources and expenses are critical components of company profitability. Two expense types are controllable costs and non-controllable costs. Controllable costs are those over which the company has full authority. Such expenses include marketing budgets and labor costs. By contrast, non-controllable costs are those that a company cannot change, such as rent and insurance. It [...]

January 12th, 2016|CLIENT ACCOUNTING SERVICES|

Accounting Outsourcing Benefits: The What & The Why

CRI tailors accounting outsourcing services to meet the individual needs of each client. Watch as Louise Anderson discusses accounting outsourcing benefits when business owners outsource essential accounting functions to CRI.

January 11th, 2016|CLIENT ACCOUNTING SERVICES, VIDEO|

The Rule of 3: Defining Three Types of Business Costs

The “rule of three” and the Latin phrase omne trium perfectum both convey that sets of three are more complete than any other set. This is true with business costs. Understanding three specific types of business expenses – prime costs, controllable costs, and non-controllable costs – is essential for management to maintain a revenue stream. [...]

December 17th, 2015|CLIENT ACCOUNTING SERVICES|

3 Actions to Improve Collections Before There’s Bad Blood with Your Customers

Collecting from delinquent customer accounts can create “bad blood” (to quote Taylor Swift’s hit song) between you and your customers. Unfortunately, the harsh reality of the situation is that you may be partly to blame for the deep cut. Now—before that next customer break-up—is the perfect time to incorporate three actions into your collection policies that improve collections - [...]

September 25th, 2015|CLIENT ACCOUNTING SERVICES|

4 Simple Solutions to Improve Financial Reporting Timeliness without Breaking the Bank

In today’s world of 24/7 news channels, social media, and the web, breaking news is the standard. Can you imagine voting for the President based on three-month-old information? Unfortunately, many organizations make critical management decisions without current financial statements and should therefore work to improve financial reporting timeliness. Even the best accounting departments struggle to report [...]

September 15th, 2015|CLIENT ACCOUNTING SERVICES|

Identifying Missed Revenue by Reviewing Billing Procedures

Are you losing money that should be in your pocket? Reviewing your billing and collection procedures presents an opportunity for identifying missed revenue and putting your money back where it belongs – in your bank account! 3 Ways Missed Revenue Generally Occurs Process Issue: There is a systemic problem in the revenue cycle that is causing [...]

June 25th, 2015|CLIENT ACCOUNTING SERVICES|

Did You Know? 4 Financial Statement Terms

If you’ve been in business for a while, then you’re likely familiar with most of the keywords on your financial statement. Nonetheless, it doesn’t hurt to review these terms and think about how they currently apply to your company. Below are four key financial statement terms to know. Balance sheet. It provides a snapshot of a [...]

Payroll Outsourcing Tips

Many employers utilize third-party payroll service providers to complete some—or all—of their payroll and associated tax duties. Payroll outsourcing services allows companies to avoid dealing with heavily regulated tasks including withholding and reporting, as well as paying social security, Medicare, and income taxes. However, companies should remember that they hold ultimately responsibility for federal tax [...]

July 8th, 2014|CLIENT ACCOUNTING SERVICES|

Forecasting the Five Ins and Outs of FMLA Compliance

Many employers have a general understanding of the Family and Medical Leave Act of 1993 (FMLA), but FMLA compliance particulars can be a bit cloudy. Sunny days ahead require understanding FMLA because missteps in compliance can lead to conflicts with employees—and even costly lawsuits. The FMLA requires covered employers to allow eligible employees to take up [...]

June 24th, 2014|CLIENT ACCOUNTING SERVICES|