Offering a retirement plan is a great benefit that allows employees to contribute to their future in a meaningful way. It’s a terrific opportunity and benefit that often attracts great folks to your organization, but this great benefit can turn into a nightmare for employers if it is not handled appropriately. We thought we’d take…
Read MoreInsurance policies aren’t usually the first thing you think about in the morning, but that doesn’t mean it’s not vital to your business. When you’re not covered you open you and your business up to all sorts of trouble. Here’s an example: You get to work and notice that there is a buzz amongst the…
Read MoreLike a number of our clients, we are a service-based business. Our ability to be profitable is based on our knowledge and technology, but most importantly, is tied to our team or labor costs. Almost all service-based businesses fall into this category. Labor costs are the most critical and highest expenses we incur, and are…
Read MoreI have previously written about the need to have a number of checking accounts, including a payroll checking account, when starting or running a small business. An additional suggestion I would make to owners who have more than one location, or legal entity or operate in multiple states is to set up a separate legal…
Read MoreIf you are like most businesses you want to grow and hiring employees is usually a necessary step in that process. One of the biggest questions we get when this step starts to take place is ‘can I afford to hire this person or not’, and then ‘if I do hire them what all do…
Read MoreWe get this question all the time from new clients and new business owners. “What bank account should I open?” We also get this question “I feel like it’s a good idea to have accounts at multiple banks.” The answers are “it depends” which is the typical accounting answer, but I believe there are a…
Read MoreOur goal as an accounting firm has always been to help our business owners make more money and keep more of it. We desire to give you the insight you need to run an awesome business, and we do this by providing both systems and insights so that your back office support (us) is a…
Read MoreAs an owner I am often the biggest bottleneck in our business. I have the best of intentions when I volunteer to help someone or get involved in the sales process because I received a direct referral. Unfortunately I am not best suited to do those things any longer. I am sure I am like…
Read MoreRaise a glass (and a budget worksheet) to 2021! Join our webinar December 4 at 11 a.m. CST for in-depth budgeting tips and new year forecasting for 2021. For now, here’s a brief overview of best practices for getting ready for the new year. What are some things to think about to position yourself in…
Read MoreThrough the uncertainties you are facing, we at Patrick Accounting and Whirks strive to be a guiding light, a sounding board, and a friend. We know you have tough decisions to make that will impact your team and your business. Here are some of the actions we are taking to help our clients, who are…
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