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Returning Value Blog

Navigating the Percentage-Of-Completion Method

Posted by Jessica L. Pagan, CPA on Sep 12, 2023

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires the use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works.

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Posted in Accounting & Outsourcing

5 Steps to Track Vehicle Mileage in QuickBooks

Posted by Chris Earnest on Aug 16, 2023

Your organization may need to track business miles to maximize its tax deductions, reimburse employees for personal vehicle use, and comply with IRS rules and regulations. Navigating this process can be administratively burdensome. Fortunately, QuickBooks® offers functionality that can make the process easier and more accurate.

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Posted in Accounting & Outsourcing

Have Employees Who Receive Tips? Here Are the Tax Implications

Posted by Murry Guy, CPA on Feb 07, 2023

Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels, and salons.

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Posted in Accounting & Outsourcing

Form W-2 and 1099-NEC Are Due to Be Filed Soon

Posted by Murry Guy, CPA on Jan 24, 2023

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must file these forms:

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Posted in Accounting & Outsourcing

What to Do if Your CFO or Controller Leaves

Posted by Melissa Motley, CPA on Dec 07, 2022

A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to assess the department’s performance and create a vision for its future performance. Here are four questions to address if your CFO or controller leaves.

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The ABCs of Activity-Based Costing

Posted by Jessica L. Pagan, CPA on Feb 04, 2022

Revenue and expenses, as reported on your company’s income statement, have limited usefulness to people inside the organization. Managers often need information presented in a different format in order to make operational and strategic decisions. That’s where activity-based costing comes into play. This costing system is commonly used in the manufacturing and construction sectors to determine which products and customers are profitable, to identify and eliminate waste, and to more accurately price products or bid jobs going forward.

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Posted in Accounting & Outsourcing

Are Gift Cards Really a "Gift" for the Restaurant Industry?

Posted by Nick Wheeler, CPA on Jan 25, 2022

Given the popularity of gift cards among both issuers and recipients, restauranteurs should understand the pros and cons of selling and issuing gift cards.

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Posted in Accounting & Outsourcing

Digitizing the Accounts Receivable Process

Posted by Murry Guy, CPA on Dec 20, 2021

While digitalization continues to take hold of the business world, the billing and collections functions for many organizations remain largely paper-based. Businesses that automate the accounts receivable process may accomplish several operational and financial goals. Here are five key benefits that organizations can unlock when they “go digital.”

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Posted in Accounting & Outsourcing

Building Your Tax Department Bench Strength: Benefits of Tax Co-Sourcing

Posted by Jessica L. Pagan, CPA on Oct 22, 2021

Organizations are faced with the challenge to increase operational efficiency while reducing costs and retaining the personnel they need to be strategic. Talent shortages and the resource drain associated with recruiting, onboarding, on-the-job training, and continuing education have many organizations looking for a more efficient and practical approach. Having the flexibility to allocate resources to align with organizational objectives is imperative. 

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Posted in Accounting & Outsourcing

Forecasting For 2021

Posted by Jessica L. Pagan, CPA on Jan 22, 2021

Planning for what lies ahead is an important part of running a healthy business. Forecasting your company’s financial statements can help you manage inventory and other working capital accounts, offer competitive prices, identify impending cash flow shortages and keep your business on solid financial footing.

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Posted in Accounting & Outsourcing

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