FP&A
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When should a start-up business owner begin to pay themselves a salary?
I am providing some consulting to a start-up company. The owners would like to accrue a salary for their time spent developing their product and marketing the company. At what point should they begin tracking this time? Is it appropriate to accrue deferred compensation?
6
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Best add-ons for QuickBooks
It is impossible to get away from QuickBooks in the SMB world. It is everywhere and is very good for what it does at a good price. Its faults are well known. Currently I have several clients who could benefit from better tools for analytics, budgeting and forcasting. If they aren't trying to do i…
8
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Accounting For In-Kind Donations
How do you account for in-kind board donations? We have just begun managing a small non-profit trade association. I've taken the position that we need to track in-kind donations in the budget. I need to be prepared when (if) the numbers come in. How do others account for in-kind donations from boar…
5
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Rebate accrual accounting
What method should you use for GAAP accounting on rebate growth incentives throughout the year. How do you account for it in the beginning of the year when no incentives have been met? Do you account for it all at the end of the year when the sales volumes have finally met the incentives or do you …
1
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Infor PM10 v Hyperion/Essbase v Anaplan
We use Microsoft Dynamics GP as an ERP, Infor PM10 for CPM and Siebel for CRM We recently had a recommendation for either Oracle or Microsoft Dynamics AX for ERP and Hyperion/Essbase for CPM. While it makes some sense to go with Oracle products because of our legacy Siebel system, I have a feeling …
1
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Budgeting Best Practices
I am sure many are in the budget planning process. We do ours a little later than most, but certainly on the mind. Do you budget in your software, in Excel or an external sources? Lets share some best practices.
40
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Running an Effective Planning Cycle
We are about to embark on our yearly planning cycle, and I'd love to get thoughts on how to effectively structure and lead this process from folks who have done so. While we are an ~10m revenue business, we are more complex than most as we have a couple of different product lines, etc. In that past…
10
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How to get a dun and bradstreet number?
HELP!! My company is developing a few apps for an upcoming product my partner is in the process of developing...we need a D&B number for placing our app on the stores...neither of us has had experience with D&B...does anyone know anything about this?? I have some specific questions after Go…
17
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Do you have a personal marketing plan?
Every so often this topic appears on Proformative, but is never really examined in depth. So I did a fast Google (love the all purpose word, noun, verb, adverb) and saw this "PERSONAL CAREER MARKETING PLAN" from USC, used in something called "Michigan Saves:" https://www.proformative.com/resources/…
6
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Any way to get around the one year rule for travel in IRS Publication 463?
I run a consulting business and my w2 employees are often times on contracts which extend beyond one year. They travel to the client site most weeks and incur anywhere from a few hundred dollars a week to $2000 a week. Most employees use their personal cards for all travel expenses and we reimburse…
3
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How does one measure a successful acquisition?
I'm looking for mergers and acquisition metrics for defining success.
5
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Accounting for High-Volume Amazon Purchases ...
My company purchases a lot of inventory (and a small amount of office related items) via Amazon. The charges go against 3 credit cards and a debit card. Although I've succeeded in getting folks to send me an email regarding their purchases, a large number of items do not match to the email (ie. as …
1
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Determining Capital Expenditure in budgeting
How do you calculate or determine a reasonable amount for capital spending in fiscal budgeting. I expect there are a variety of ways to come up with an amount such as a percentage of cash flow, a percentage of net or gross profit, annual depreciation, etc. Any thoughts regarding your calculations?
9
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What is the Worst Thing Someone Can Do at Work
I just had to deal with a few of my colleagues as they had done one of the worst thing anyone can do at work, lie. There was an issue, and when investigating what happened I saw a few colleagues go into CYA mode, and try to lie to me. Of course I am dealing with it, but I am not sure I see a future…
21
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Will there be a tax implication in providing loan by an LLC Company in Delware to its Group Company in Manila
The Company is planning to provide an interest free loan to its group company in Manila,Philippines. The Company which is advancing loan is a company incorporated in Delware as an LLC. What would be the tax implication in US for loans advanced to group companies outside US interest free
3
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How do you make the most of meetings?
We've all been a part of meetings that seem to accomplish nothing more than wasting our time. So what do you do to make sure all your meetings are productive as possible? Do you limit them to only a certain number a week or month and get it as much in at once? Or do you prefer to have smaller meeti…
5
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Can I Own My Greatest Weakness?
I saw an interesting article on LinkedIn and it got me thinking, what is my greatest professinonal weakness? I thought I would share what I think mine used to be, as I have been (and still am) working on it. I have been known to have the "honesty" filter off, in that I say what I feel when asked m…
9
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Changing Payment terms of Invoices
What are the risks in changing payment terms of Invoices after thay have already been created.
9
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How do you write off revenue, but not a specific invoice, from a prior year?
What is the right way to account for the following situation: We sent our client an invoice several years ago (2009), which they paid. Then in March of 2010 we sent them a credit memo, but we voided the credit memo in June. I only started with this company last year so I can't tell you why they did…
1
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What do you do when your CEO is beyond stupid and about to implode your company?
It's true. And I don't usually exaggerate. I just pulled the company out of near bankruptcy and this new CEO comes in and is driving us right off the cliff again. Cash is down to just enough to cover one month of expenses with no real uptick on the horizon. And he has had no prior management experi…
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