2021 Will Accelerate Accounting’s Digital Transformation
We can’t put the genie back in the bottle. The words “Digital Transformation” have become something of a buzz phrase since COVID-19 turned our world upside down last March. The fact is that digital transformation was already happening at a steady pace ― COVID-19 merely accelerated this shift. The pandemic introduced a plethora of new…
SBA and Treasury Issue Further PPP Guidance
The guidance clarifies PPP rules for first- and second-time borrowers As a follow up to the $2.3 trillion Consolidated Appropriations Act, 2021 (CAA), the U.S. Small Business Administration (SBA) and Treasury issued guidance Wednesday night for the relaunched Paycheck Protection Program (PPP). An Interim Final Rule (IFR) entitled “Business Loan Program Temporary Changes; Paycheck Protection…
A High-Performing Accounting System Provides More With Less
Most nonprofits and small businesses begin their financial lives using Intuit’s QuickBooks, which— with more than 80% market share—is by far the most popular accounting application. It’s well known. It’s also easy-to-use, and it offers the functionality a business or nonprofit needs when it’s starting out. But if your business has moved beyond the entry…
New Guidance and Additional Relief Issued by Office of Management and Budget (OMB)
On December 22, 2020 the Management and Budget Office issued an addendum to the 2020 Compliance supplement that includes new guidance and additional relief for certain auditees with Uniform Guidance requirements. This addendum is to be used in conjunction with the 2020 Compliance Supplement by auditors. This supplement, which originally was anticipated to be issued…