A well-designed accounting system is powerful asset for making more money in your business. But what makes an accounting system “good” and how exactly does it contribute to your bottom line? In this article, we’ll explore how an accounting system is an essential tool for profitability. So let’s dive in an help you make that cash!

Learn how an accounts payable system can improve efficiency and accuracy, as well as save your business time and money. Get the answers you need from Oracle Profitability in their Smart Systems for Maximum Profitability Blog Series.

It's hard for us to imagine why entrepreneurs wouldn't take the government up on their offer of free money for businesses impacted by Covid regulations. But we also know that government systems are confusing and mistakes can be costly. Check out our blog to learn what business owners need to know before applying for the ERC!

Are you thinking about hiring a financial controller? Are you unsure how a controller differs from your accounting team or CFO? We’re all for hiring a financial controller (we offer that service to our clients)! The bottom line is a strategic financial controller can help cut costs, manage finances, minimize the chance of fraud, and improve inefficiencies for maximum growth and profitability in your business. Check out our latest blog to learn what the data says about the growing relationship between CFOs and Financial Controllers.

Did you know that if you can prove that you lost revenue due to U.S. government restrictions during Covid, you may qualify for money under the ERC? We recently helped a client prove that their business was limited by Covid restrictions during pivotal points of previous years which affected their revenue. When they came to us they owed the IRS money, but we helped them recoup over $90,000. Learn more in our blog below and schedule a free call to see if your business qualifies.

It seems like everyone we know is working from home these days. We’re getting contacted by clients who are wondering if hiring a virtual bookkeeping is an option for them. We might be biased, but we definitely think that virtual bookkeeping is a no brainer. All you need are the right tools and the right bookkeeper. Check out our blog to learn more!

If there’s one thing we can thank Covid-19 for, it’s the boom of remote working. You might wonder why you should even work with a virtual bookkeeper. Too often, bookkeeping is seen as a necessary-but-mind-numbing process. Bookkeepers are seen as unimaginative number punchers and unthinking machines. But at Oracle Profitability, we know that strategic bookkeeping is one of the most creative ways to keep your business in the money. Here are our pro tips for hiring and working with a virtual bookkeeper.

Many people have waited almost a year to receive their funding from the Employee Retention Credit (ERC). You don’t have to wait for those funds if your business needs them today. There are several loan programs that allow business owners like you access cash loans before their returns even get to the IRS.

Hello business owners! Have you applied for the Employee Retention Credit (ERC) yet? Maybe you've considered it but feel a little overwhelmed by the process. We've pulled together some FAQ's about the ERC that can help you understand what it is and how it benefits your business. Check it out!

Did you receive a rapid covid Economic Injury Disaster Loan (EIDL) loan during covid? Be aware that the Small Business Association will close down the EIDL online platform on May 16th 2022. This is a friendly reminder that if you haven’t downloaded the documentation for your records from these platforms you’ll want to do it ASAP!

Did you get cash disbursements for your business through the Employee Retention Credit (ERC)? Did you know that you could be audited by the IRS for the ERC? We anticipate seeing many ERC calculations audited over the next few years. An audit can be no big deal or a huge headache depending on how you prepare for it. Here are three ways to prepare for an audit.

Did you know that as an business owner you are liable for all ERC calculations…even if you use a payroll company? You should also know that process for calculating ERC’s can be risky for anyone who doesn’t know how to navigate the IRS. Learn more here: https://www.opcteam.com/blog/payroll-companies-vs-employers-who-is-liable-for-errors-when-filing-for-the-erc

Hello Business Owners! Are you taking advantage of the Employee Retention Credit (ERC)? The ERC is a refund for money paid out to payroll taxes during 2021 and 2022. It’s another (less advertised) disbursement that was issued by the IRS. And many businesses like you qualify. Business owners can get back up to $5,000 per employee in 2020 and up to $7,000 per employee for each quarter of 2021. That means if an employer with 10 employees qualifies during 2 quarters they can get back up to $140,000. We know what you’re thinking, why doesn’t every business know about the ERC?! Our thoughts exactly.

4 Tips To Improve Your Bookkeeping In the New Year