At Primetrics, we are dedicated to continuous improvement as we strive to solve your business challenges and uphold our principles and values. We are thrilled to announce our revamped services, designed to showcase our commitment to your success and how we can help you achieve your goals. Here are three key takeaways from our remodel:…
As a business founder, it’s easy to fall into the trap of being consumed by day-to-day operations. Often, you lose sight of generating new innovations to propel your business forward. We are here to discuss four common pitfalls that founders face:(1)not delegating, (2)being the perfectionist,(3)assuming everything will stay the same long-term, and(4)succumbing to success bias….
Updated:Apr 14, 2023 As a business owner, you likely have multiple banking relationships to manage. While it may seem tedious, it’s essential to consider your banking relationships and understand the risks and benefits associated with each one. We’ll discuss some important factors to consider when evaluating your banking relationships. FDIC Insurance Limits First and foremost,…
Tax season is an important time for small businesses as they are required to file their taxes and ensure they are in compliance with federal and state regulations. It also provides an opportunity for small business owners to review their financial performance and make any necessary adjustments for the upcoming year. As a small business…
Cryptocurrency accounting can be complex due to the unique characteristics of cryptocurrency, such as its decentralized nature, high volatility, and lack of regulation. Here are a few key considerations for accounting for cryptocurrency transactions: Classification: The first step in accounting for cryptocurrency transactions is to determine how to classify them. For example, if a business…
Updated: Sep 27, 2023 Here are some year-end checklist items to ensure you have a successful transition to 2024. We know it is already the end of the year. Yikes! Time comes at a premium during the holiday season. The end of the year brings chaos as everyone scrambles to get organized. Many are stressed…
UPDATE: Bill.com has increased some of its fees for 2023. These changes are minor but important to note, so there are no surprises on the first billing statement of the new year. Here’s what you need to know: “We are writing to inform you that the price of your BILL transaction fees will increase starting…
Automation is a relentless pursuit. It forces us to reinvent ourselves periodically, moving on to more valuable work for our clients all the time. At Primetrics, this is part of our ethos. We are reviewing the next generation of automation tools in accounting to help lay the foundation for leveraging said tools for our customers.How…
Our Primetrics team attended the 2022 AICPA Engage conference this month. While there, we received an update from J.P. Morgan. JPM believes the Federal Benchmark Interest Rate will hit 3.26% by late 2023, up from 1.75% set on June 15th, then predicts it will fall slightly by mid-2024. This increase is substantial, so it is…
Updated:Feb 7, 2023 How can I calculate benefits costs to add to a budget/forecast? I want to offer these benefits but I am unsure of the price. A topic of interest in an interview is always what benefits your company has to offer. Believe it or not, this can be a make-or-break situation whether someone…
Updated:Jul 28, 2022 OneID Lab and Tozny have merged to create a one-stop shop for businesses to address cybersecurity concerns. Both companies offer an array of tools; identity access management (IAM), privileged access management (PAM), key management, data encryption solutions, secure remote access, and advanced decentralized identity tokens solutions, which will all work in one…
Updated:Apr 28, 2022 One word: Trust PART 6 of 6 Trust is only going to grow in importance as we transition to an online business world. Trust is the currency of business; increasing trust drives better execution of everything. Slow down and do your due diligence when selecting a Fractional CFO Firm. Trust was important…
Updated:Apr 28, 2022 It takes a different DNA PART 5 of 6 Generally, clients of CPA firms are unhappy and looking for better customer service. You can’t just want to change, you must be that change. That means being different! To embrace this work, firms need a totally new set of values and structures. Client…
Updated:Apr 28, 2022 Expectations of the Fractional CFO PART 4 of 6 Future Fractional CFOs take a long-term view. They talk about internal controls, security, organic growth, and roadmaps. What they don’t do is try to be the CEO. A Fractional CFO understands the scope of their role and focuses on the administrative function of…
Updated:Apr 28, 2022 Disruption – not your parents CPA Firm PART 3 of 6 Disruptions are not just for the legacy taxi businesses with Uber or hotels with Airbnb. The CPA profession is being disrupted as well. As with most disruptions, this one also started on the outside. Legacy CPA firms focus almost exclusively on…