Your payroll service almost certainly has a 401(k) administration product and having those two things managed by the same provider seems like it would make a lot of sense. But here’s the truth about bundling.

Internal controls are policies and procedures that companies use to ensure the accuracy and reliability of their accounting and financial information. They also help to prevent fraud and promote accountability. Sounds like something all organizations would have, right?  You’d think so.

To truly know where your business stands at the two-thirds pole of 2024 and to optimize the rest of the year, we’ve compiled a few immediate to-dos.

There are two methods of accounting: cash basis and accrual basis. Most bookkeepers and accountants are familiar with both. Surprisingly, many business owners are not. Here’s an overview of each, what makes them different, and how organizations can best use both.

Sometimes a business has an internal or external accounting resource that has largely been doing the same thing over and over. For years. They’re processing paper, ensuring basic accuracy, and getting paid. Rinse and repeat. While that may sound fine, it isn’t. Not for a modern, growing business.

In 2023, we spent a ton of effort refining and formalizing internal systems. 2024 is the year we’ve committed to telling our story.