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Estimated Reading Time: 2 minutes 55 seconds

We are approaching mid-year (for those of us on a calendar year…) and enough time has passed that we can reflect back on some of the technology that GP CPA has been using and is no longer using in 2019.

First up, let’s have a drink for those who are no longer with us:

  • QuickBooks Desktop – GP no longer supports this dinosaur, get out while you can…
  • Stripe – Did you know that Stripe uses a Wells Fargo gateway…?
  • HubDoc – Bank feeds are not ready for primetime
  • Jobber – A good product, no longer Xero friendly

There are also the software platforms that our clients use that we tolerate and do not recommend:

  • Square – Basis functions work, does not automate well, reports are clunky
  • Homebase – a mediocre product at best, not very effective at reporting
  • Clover – Terrible reporting, difficult to navigate, not user-friendly
  • PayPal – Horrible payment platform for reporting, easy to use

Lastly, the list of platforms that we enjoy use internally and those that we recommend to other businesses:

  • Xero – shameless plug. Still better than most
  • Gusto – When was the last time you actually enjoyed payroll?
  • IntegraPay – Excellent e-commerce solution and payment processor
  • LedgerSync – for accountants and online access nerds
  • GoProposal – How the UK makes accounting firms easy to work with!
  • Malartu – an NC native tech platform that offers analytics…

If you came across this list and had no idea what any of these bullet points refer to, contact us immediately so we can engage our nerd on your behalf. If you know any of the items on this list and have a different opinion about them, please share it with us (we don’t bite). Either way, expect an updated list every so often and stay in touch.

 

I received funds from the Restaurant Revitalization Fund (RRF) program, now what do I do with the money?

I received funds from the Restaurant Revitalization Fund (RRF) program, now what do I do with the money?

First off, the funds are expected to be spent before the end of 2021, as an annual report to the SBA will be required at some point in the future. We are still waiting for guidance from the SBA regarding what this annual report will look like. It may make sense to draft a spending plan or budget to make sure all of the funds are spent on time and in accordance with the program rules. GP CPA can help you with this planning, so you can prevent a surprise surplus of funds. Spend wisely and timely!

The Employee Retention Credit (ERC)

The Employee Retention Credit (ERC)

The Employee Retention Credit (“ERC”) has had some upgrades and retrofits to some of the basic calculations with the most recent (12.27.20) CARES Act changes.

Good Riddance, 2020

Good Riddance, 2020

What is new in 2021? Meals in 2021 are once again 100% deductible, the next round of PPP funding is coming and the Employee Retention Credit (ERC) has been changed.

Moving at the speed of business

Moving at the speed of business

GP CPA has relied on cloud-based accounting technology for many years now and devotes a significant amount of time toward testing and learning the latest and greatest systems out there.

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