CJCPA's blog

Common Payroll Mistakes & How To Avoid Them When you become an employer, you are bound to make mistakes along the way, some bigger than others. While business expansion and steering through the ever-changing business landscape would demand most of your focus, business finance, bookkeeping and accounting are the first and obvious to be oversighted. You may get an opportunity to resolve most of the finance and accounting mistakes as long as your employees are being paid accurately and on time. Payroll is a complex and time-consuming process which is subject to ever changing regulations.

Few businesses are as vulnerable to economic fluctuations as those operating in the trucking and transport industry. Trucking and transportation is a unique industry that has always been challenged by a disruptive environment because of technological changes and fluctuating customer demands. With low margins, constantly-changing state tax laws, maintaining operations and fleets, etc, trucking companies need to implement radical Transportation and Logistic Financial solutions in their processes.

We understand that the transportation industry navigates through a complex relationship between logistics, people and goods, both locally and globally. The sector is prone to changing government regulations, tight profit margins, tax issues, and rising debt keep transport companies at the forefront of uncertain financial environments. Furthermore, challenges such as interstate registration, multi-state tax, financial solvency, merger and acquisition, labor shortages and combating rising fuel prices can impede business growth.

Few businesses are as vulnerable to economic fluctuations as those operating in the trucking and transport industry. Trucking and transportation is a unique industry that has always been challenged by a disruptive environment because of technological changes and fluctuating customer demands. With low margins, constantly-changing state tax laws, maintaining operations and fleets, etc, trucking companies need to implement radical Transportation and Logistic Financial solutions in their processes.

A restaurant can be a hectic place. Running tirelessly between the front and the back of the house focusing on crowds of hungry patrons, planning menus and specials, continuous efforts to provide the perfect taste, ambiance, and an unforgettable experience to the customers, managing high overhead, wasted ingredients, etc, are some of the everyday challenges of restaurant owners. With so much going on, bookkeeping is often overlooked or deferred for a later date. Unfortunately, when bookkeeping is left behind, catching up becomes both tough and expensive.

The construction industry is one of the most dynamic and fast-paced sectors in the world. With multiple large and small-scale businesses competing for limited resources entwined with a constantly changing work environment, construction companies often face numerous financial challenges. Some of these problems include misallocating costs, insufficient cash reserves, dealing with tax issues, and late payments. Therefore, to avoid such issues, land developers and contractors are now putting sophisticated financial management at the forefront of their business model.

Demanded Partnership Building With Our Experts

Property ownership requires extensive accounting work and includes both tangible and intangible assets. Real estate is a vastly complicated jumble of structures and procedures. With so much to maintain, mistakes are unavoidable; however, they could be minimized.

Maintaining accurate financial records is crucial when running a business. One of the simplest yet easily missed things is setting up your accounts correctly from the start.

Depending on the structure of your business, you may be required to keep business funds in a separate account. If you are a sole proprietor, you may not be required to keep a separate account at some point; however, if your business is organized as a partnership or corporation, you must.

Continue reading to discover the most compelling reasons to open a business account.

As a business owner, you are faced with many choices. If you’re in start-up mode, you are managing just about everything in your business - from bookkeeping to sales, from marketing to employee management, and more. With such a vast set of activities, the financial health of the business is often overlooked.