Accounting
-
Accounting Rules for Software Capitalization
For a new capex software that is being implemented (such as a new website, mobile app, CRM, accounting system, etc), what are the accounting rules for what project costs can be capitalized? There are generally several components to these projects, including an initial assessment before the project …
3
-
Need GL report writer that integrates with Qucikbooks Online data
Can anyone recommend a GL report writer that integrates with Qucikbooks Online data? We need to (want to) be able to perform analytical calculations within financial reports that are issued to management. (Ex. a columnar P&L showing three months side by side with labor as a % of related revenue…
1
-
Accounting For Warehouse Costs and Cost of Goods Sold
I am looking for some best practice information on the allocation of warehousing costs to COGS. Right now we write off warehouse costs each month - we are a small manufacturer that keeps inventory in our warehouse and pay for warehouse staff to assemble products for shipment. The assembly is most…
12
-
Giving Vendors Access to Pull ACH payments- Good Idea?
I've noticed more and more vendors who "require" that we pay them by credit card or ACH payment, in which we are required to give our bank account information for them to pull the ACH for payment. Does anyone else have an issue with this or am I unreasonable in giving vendors this ability to pull f…
36
-
Fixed Assets Manager (US & Canada) for Mac
I'm in the market for a new fixed assets management program. I inherited a BNA file which we transitioned to BNAWEB last year or so. The two big problems I have is that (a) the web service is only available on a PC, and we're an all Mac company, so we have a laptop that we use to login for this, bu…
2
-
Has anyone used Concur to automate A/P?
We are considering automating A/P and would like to know how automating has improved efficiency -- if there have been issues -- or if there is a better program to use to automate.
1
-
Accounting For Chargebacks
Some customer charges us some fees for errors in not following their business rules. Their fees are typically assessed per occurrence. We have been accounting these chargebacks as other operating expenses since these expenses are related to non-compliance. However, should it be part of cost of good…
5
-
Form 1125-A, Box 9e
This one is for the CPA's out there. I've had a discussion with our CPA on whether our company is subject to UNICAP or not. We are a re-seller, and I know we have't had 10 million in gross profits for at least the past 5 years. Our CPA insisted we've always been subject to UNICAP. This year I see o…
-
Logical follow-up to the question about A/P checks and stubs...
In the question "Do you make copies of vendor checks" https://www.proformative.com/questions/do-you-make-copies-vendor-checks-files#comment-30767 the community has chimed in with their opinions. So, how about A/R checks. Do you make copies of the check and/or Stub? More importantly, why? Pro…
-
At what level of sales should a company consider breaking out the Treasury function from the domain of Accounting?
We have grown considerably over the past couple of years, with continued growth projected (currently at $120MM/yr with the possibility of going to up to $200MM/yr over the next 3 years). I am considering creating a "Director of Treasury" position to oversee treasury functions in the company current…
4
-
What is the best approach to reorganizing/changing roles of old-timers?
We have a tenured staff that's running accounts payable in a very old-fashioned/outdated process, after several attempts that failed to make changes to the process, my supervisor and I decided we need to put someone else on the position to be able to effectively update the accounts payable, whether…
23
-
Tax Question-Giving ownership in a company
A person I met recently started a company to and gave 1/2 ownership to a person he knows who has extensive experience in the business. The major asset the company started with was a quarry purchased for $500,000. What is the accounting for the start up of the company. What are the tax implications …
-
Can consulting fees be booked as deferred charges until benefit is received?
My company is turning profitable this year. i hired a consultant to review prior hires for potential work opportunity credits. He generate $100,000 in findings, which can be applied to future federal income tax liability, but is charging $18,000 in fees. I would like to book the $18,000 as deferr…
11
-
Booked Contracts, Deferred Revenue, Quickbooks
Proformative, I was wondering what everyone process is for recording signed contracts and deferred revenue. Background/Example: - $50k/yr contract booked in 1/2016; paid quarterly - Invoiced at start of each quarter, Net 30 Approach: - Upon signing of the contract, I am considering creating a journ…
8
-
Taxes below the state line.
Our company is registered for taxes in Alabama and Colorado. Looks like there are multiple municipalities that have their own rates. Don't mind collecting and remitting but it looks like these states don't centrally administer the taxes! What are the risks associated with just registering and payin…
8
-
U.S. Clarifies Role of Lead Auditors in Corporate Financial Reports
The WSJ reports that "Public Company Accounting Oversight Board wants parties in group audits identified and supervised". "Auditors who contract other accountants or accounting firms to review a company’s financial reports would need to increase supervision of the work they delegate under a proposa…
2
-
When developing an application in the cloud are the fees for the cloud service capital or expense?
We are developing three internal use applications that will run in a cloud environment. The applications are being developed on / through the eventual hosts cloud service. Since we are using the services while in development are the service fees capital or expense?
-
Credit Insurance
Has anyone had any luck with credit insurance (for A/R)? I have used in the past, but not at my current company. Have you realized any savings or has there been better credit management since engaging your firm? I had reviewed this in 2009, but rates were too expensive. We have looked at it again a…
1
-
Accounting Software for TV Animation series
I am looking for an accounting software for job cost accounting for TV series. We are a small animation production company in need of a system that will be able to compare budget to estimate final costs. Any recommendations would be appreciated.
1
-
Can anyone recommend good consolidation software?
We consolidate as many as 12 to 15 companies on a monthly basis. Not all companies use the same ERP/accounting software, so right now we require them to submit a monthly trial balance in Excel. The software we have been using is no longer supported (surprise!) and we need to find an alternative as…
18
-
Does anyone use Comdata ePayables service?
I've been approached by Comdata to streamline our A/P payment process. It's a MasterCard based service, which significantly reduces the time spent on issuing payments. If you have any experience in this process, could you please share? Thanks.
1
-
What to expect in an EDD Employment Tax Audit
The EDD just hit me with an Employment Tax Audit. In my 15+ years of being a CFO at 5 companies I've never had one of these. What should I expect? How should my team and I prepare? Any lessons learned would be greatly appreciated.
6
-
Workers Compensation Payroll audit - does your insurer want to include independant contractors earnings?
Our workers comp insurance company is stating that we should be charged workers comp insurance for independant contractors, who receive a 1099, if they do not provide proof of having their own workers comp policy coverage. Is anyone else experiencing this? Thank you
7
-
Commission/compensation models for recurring revenue streams (SaaS/subscription)
How much upfront, how much over time, and for how long into the future.
7
-
Requiring original receipts still make sense in modern-day T&E reporting?
We are looking at eliminating the requirement of obtaining all original receipts. We currently require original receipts and scan these into our systems. Has anyone had any issues in having employees scan these and send in for processing? I worry more about the forging of receipts (as an old au…
12
Previous
