Archives: Insights

Not-for-profits play a vital role in addressing community needs, relying primarily on donor generosity. Effective financial management hinges on accurately tracking asset restrictions, which are critical for decision-making. This article outlines net asset classifications, highlights best practices for their management, identifies common challenges, and suggests resources for future guidance. 

Think of IT as the engine that powers your business. A strong engine helps you run smoothly and efficiently. But if it's old, clunky, or underpowered, it can slow you down or even cause problems. So, how do you know if your IT is on the right track? Here are some signs it might be time for an IT checkup.

Cybersecurity has become a necessary defense for all businesses and organizations. It can no longer be ignored. One of the most common and insidious threats we continue to face is phishing, likely because the bad actors are still successful at getting us to fall for their tricks. Let’s demystify phishing, providing you with practical tips to safeguard your digital life.

Fostering an incredibly positive and productive workplace culture may sound like a pipe dream in today’s business environment—but it has become a necessity if you want a company that grows successfully. Companies that excel in creating such environments don't just attract top talent; they retain them, ensuring sustained growth and innovation. But why is cultivating this culture so crucial, and how can your organization achieve it? Let’s dive in, focusing on tangible benefits and actionable strategies, navigating the complex terrain of employee engagement and organizational development.

Not-for-profits play a pivotal role in educating, inspiring, and benefiting communities globally, funded predominantly through the generosity of donors. The transparency and efficiency of financial reporting are essential, directly influencing the organization's capacity to serve and make a significant difference. This discussion delves into optimizing financial processes to amplify mission success, underscoring the direct link between financial stewardship and community impact.

As of July 31, 2024, new subscribers can choose between QuickBooks Online (QBO) and QuickBooks Enterprise. Existing subscribers will still be able to renew their QuickBooks Desktop Pro and Premier subscriptions, but these options are no longer available to new subscribers. The biggest impact will be for new businesses or QuickBooks Desktop users without an active subscription. For several years, Intuit has poured its resources into enhancing QuickBooks Online, to make it more robust and user-friendly while adding new features. 

Do you know that a significant percentage of small and mid-sized manufacturing businesses do not have an annual operating budget? As you explore how a budget can drive important business decisions, this introductory article marks the beginning of our comprehensive budget series where we explore the why, when, and how of budgeting. Future articles will move you through the process and explain how to pull it all together. Let’s get started so you can understand how your business is performing!

Embarking on the entrepreneurial journey is a bold and rewarding endeavor, but it comes with unique challenges, especially regarding retirement planning. As author Stephen Covey wrote, “Begin with the end in mind.” Your financial future is intricately tied to the success of your business venture. In this guide, we’ll look at the complexities of retirement planning for entrepreneurs, offering insights and strategies to ensure your golden years are as fulfilling as your entrepreneurial journey.