Returning Value Blog

Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer's size, industry, staffing, and operational needs. In some industries, such as service, it's not uncommon for payroll to encompass up to 50% of revenue. For other industries, such as manufacturing and food and beverage, it usually takes up no more than 20% to 30%.

Three years after the onset of the coronavirus pandemic, the hospitality industry, like others, is still recovering. Though 2022 saw some significant growth with a public eager to travel for leisure, particularly to locations offering unique experiences, the pandemic has markedly changed business travel patterns and consumer behavior. An ongoing labor shortage and emerging competition from resort hospitality locations have further strained some hospitality markets still adapting to shifting consumer demands.

Working capital — the funds your company has tied up in accounts receivable, accounts payable, and inventory — is a critical performance metric. During times of rising inflation and interest rates, managers search for ways to free up cash and eliminate waste. However, determining the optimal amount of working capital can sometimes be challenging.

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake.

Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs, and falling consumer confidence. If your company is planning a major strategic shift this year, management may need to comply with the updated accounting rules for reporting discontinued operations that went into effect in 2015.

Outsourced HR services are designed to streamline functions, reduce expenses and help meet your firm's operational goals. You may hire a third party to oversee some or all of your HR functions, including payroll processing, employee benefits administration, and talent acquisition.

In the current economic environment, companies are looking for ways to gain efficiencies within their Internal Audit processes and procedures. The use of Technology and Data Analytics have transformed the Internal Audit function by enabling:

Healthcare providers are approaching a major regulatory shift. On May 11, the Federal Public Health Emergency (PHE) for the COVID-19 pandemic will lapse, ending or sunsetting regulatory changes which greatly benefited providers during the pandemic.

Voluntary accident insurance provides funds to pay for additional costs incurred from injuries. If you've ever seen an Aflac commercial—with the duck that keeps repeating the name of the product—you get the idea that supplemental insurance provides coverage for bills that your major medical plan doesn't cover. You can see how this is an attractive option to catch the attention of top talent.

Many businesses and nonprofits use QuickBooks® as a cost-effective solution to manage their accounting processes. However, the software’s capabilities extend beyond organizing and streamlining your company’s accounting. QuickBooks can also help you detect fraud. Here’s an overview of the software’s fraud detection and prevention features: