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We hear this question on a regular basis; “Which is better, Netsuite or Quickbooks?” You may be hoping to see a straightforward answer, but the truth is that this question is riddled with complexities, therefore it’s important to first understand how these systems differ.   In any critical decision-making process, you:  Identify your needs and wants...

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Tell us if this doesn’t feel familiar…. Frequently, it feels as though everyone in their field of profession is berating you for doing something the “wrong way”. The “wrong way” – according to them. You’re “wrong” because you don’t utilize a specific type of accounting software, you’re “wrong” because you do your own bookeeping, etc....

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Take a moment and briefly visualize that you are back in your last season of high school frantically preparing for college.  Where this ‘new’ and ‘exciting’ phase of your life curbs your enthusiasm and instead blinds you with it’s high price tag. As I recall back to this point of my life, I distinctly remember...

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With 2021 behind us and tax season right around the corner, now is the time business owners start booking their appointments to meet with CPA’s to work on and submit their tax returns. The natural expectation here is that your accountant files on time and works diligently to lower their clients tax exposure and avoid...

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As technology continues to evolve and become more and more accessible, it has become a vital element of business management. In fact, at least some type of accounting software can be found in organizations of various sizes.   However, as your business continues to grow, you may face a situation where your accounting software is no...

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After the end of each year, business owners are required to prepare 1099 forms to report payments to non-employees and others. While it’s normal to make a mistake on a 1099 form, it’s imperative to correct it for both the Internal Revenue Service and the payee.  Today, we’re going to give an overview of 1099...

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Most people associate the start of a new year with inspired resolutions and improved goals; to business owners, the new year welcomes the first quarter, new opportunity, and most importantly: tax filing deadlines.  The IRS requires different forms, rates, and filing dates depending on the official business entity of your company; furthermore, if you fail...

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Those who are self employed usually face specific challenges when trying to secure funding for their personal endeavors. Due to a lack of a steady paycheck and/or inconsistent income, lenders may feel more resistant to loaning the necessary funds. For this reason, lenders will typically ask for a greater amount of documentation to determine whether...

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An emergency can happen when you least expect it, and in business, the right insurance can help save the owner from significant financial loss. This is why it’s imperative that startups have a business insurance plan to help them make payments against legal liabilities and any claims against the company.  However, a majority of small...

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There are numerous doubts, fears, and questions that go into starting and running a business.  However, within this realm of uncertainty you know one thing will always be certain: you will have to pay business taxes. If you have ever seen the consequential effects of not keeping tax compliant, you understand how critical it is...

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If you own or manage a small business, you know running it requires a great deal of time and money. A simple way to boost your profits is to make sure you are taking all the deductions you are entitled to on your tax return. This can lower your taxable income while enabling you to...

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Business success begins with intentional budgeting.  With a strong financial plan, companies are equipped with the ability to plan future spending while making strategic use out of incoming revenue.  Sustainable budgeting methods also help businesses measure their performance and permits management to make sudden key decisions with confidence.  Poor cash flow management is a top...

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As the end of the year rolls around and you prepare for 2022, it’s critical that you stay up to date on all applicable laws and regulations. From tax filing, taxability, to finalizing 2021 payroll activities and setting compensation/benefits for next year, there is a lot to consider when closing out the year.  Even if...

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Today is not a day to worry about your calendar and your to-do list; it’s a day to unplug cherish time with your family and friends. From our team to yours, we wish you all a wonderful and happy Thanksgiving. In light of today, our MCDA CCG team also want to express our appreciation for...

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Calculating your businesses financial performance and utilizing the information to make decisions plays a critical role in driving your growth and increasing profitability. That being said, with so many different metrics pertaining to various parts of your business, it can feel overwhelming. Today, we’re going to discuss the basics about profitability ratios, why they are...

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From time to time, you will make accounting errors, so knowing how to catch these discrepancies is an important skill to develop regardless of what accounting software application your team and company uses.  The moment an error is spotted, investigative measures should immediately be taken to correct the mistake. Time is of the essence here,...

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To a certain extent, you understand that maintaining accuracy with your businesses finances is important. Working alongside businesses and their financials for over twenty years, our MCDA CCG team have witnessed how a single, slight rounding error can ensue internal chaos. These small mistakes can result in devastating consequences, such as job loss, stakeholder penalization,...

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As organizations struggle to find, attract and retain employees in the wake of the Great Resignation, establishing a reputable workplace is more important than ever! Contrary to popular belief, competitive compensation is not the only thing that drives employees to a particular company, in fact, a strong benefit plan can set you apart from your...

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Most owners want to grow their business. While dissimilar mission statements influence each unique journey, the goal of creating long-term, profitable growth is universal. And whether you are just starting or established and looking to extensively scale, obtaining financing is necessary to fund business growth.  In order to accept business investments from angel investors or...

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Throughout the years we have seen a great number of our clients show interest in other companies; this can be achieved in several different ways, but it’s usually completed through an M&A process. While M&A deals are significant milestones and deserve to be celebrated, the process involved creates a period of stress on the buying...

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As we pace into the second week of November 2021, the largest retail weekend of the year is right around the corner: Black Friday.  Black Friday weekend has always been a lot to prepare for, and as the pandemic complicates the logistics of retail supply, this year’s holiday season is expected to pose unique challenges...

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While manual tracking efforts were sufficient in the beginning, your growing staff, resources, machinery and sales are quickly making you realize that it may be time for an update. MRP is a computer-based inventory management system designed to improve productivity for businesses, yet many companies worry whether or not they are in a position to...

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Did switching your calendar to November 1st throw you for a head-spin? Us too.  But while we are more mesmerized by how fast this year came and went, many business owners routinely find themselves unprepared and scrambling to correctly close their books at year-end.  We know how overwhelming the year end-procedures can be, especially if...