Category: Outsourced Accounting & Bookkeeping

QuickBooks Desktop, a cornerstone of small business accounting software for years, is being phased out by Intuit. As of June 2024, support for all versions of QuickBooks Desktop will cease, pushing users to transition to QuickBooks Online. This change aims to provide users w...

At Boyum Barenscheer, our Client Accounting Services (CAS) department is dedicated to helping your business achieve financial clarity and operational efficiency. Our comprehensive suite of services is designed to meet your specific needs, whether you require regular financia...

For businesses with revenues up to $20M, Boyum Barenscheer’s CAS team provides flexible accounting and bookkeeping services to help you grow your business and increase profitability. Our highly skilled professionals will become your go-to team ...

The employee retention credit is a refundable credit of 50% of up to $10,000 in qualified wages (qualified health plan expenses included), or a maximum of $5,000 per employee.  This credit is available against wages paid from March 12, 2020 through December 31, 2020.  Ther...

As I put together this document of the timeline, summaries and resources for you, I wanted to share what message I printed out and shared with my daughters as they start their first day at home of flex learning: Don’t Stress, Do Your Best, Forget the Rest...

Due to the COVID-19 pandemic and its affects on small businesses, the SBA now has two loans available to help your small business through these unusual and trying times.  Here is a quick summary on the Economic Injury Disaster Loan and the Paycheck Protection Loan....

Every company has faced unprecedented challenges in adjusting to life following the widespread outbreak of the coronavirus (COVID-19). Small businesses face particular difficulties in that, by definition, their resources — human, capital and otherwise — are limited. If t...

Many small businesses are reeling from the impact of the COVID-19 pandemic. Boyum Barenscheer is here to help. We have gathered a list of helpful resources for small businesses to turn to during this unprecedented time....

Lapping schemes are one of the most common ways crooked employees skim money from their employers. In these schemes, a perpetrator uses receipts from one account to cover theft from another. Here’s what lapping looks like and how you can help prevent it....

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their ...

Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore.  If you can re...

Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems — depending on the price point, of course.  So, is your accounting software living up to ...