Under the Paycheck Protection Program (PPP), the federal government authorizes up to $349 billion in forgivable loans to small businesses during the COVID-19 crisis. Small businesses are receiving loans, and many have questions on how to account for the funds, expenses, and forgiveness in their accounting records.
In the last three weeks, two major pieces of stimulus legislation have been signed into law. Both acts provide opportunities for small businesses, but also require additional tracking for proper reporting.
QuickBooks is a accounting software program businesses use to manage expenses, sales and daily transactions. It can be used to invoice customers, pay bills, generate reports for planning, tax filing and much more.
Managing your business accounting needs can be time consuming, stressful and costly. Many growing businesses struggle to create a well-tuned accounting process, especially as certain systems and processes need to change to support increased activity.
Changing your construction company accounting software may be stressful, time-consuming, and costly.
On May 30th, Minnesota enacted a new Wage Theft Law amending existing state labor laws adding significant recordkeeping and notice requirements for all Minnesota employers.