woman doing taxes

Overlooked Tax Benefits that Could Save You Money this Tax Season

As a business owner, it’s always important to maximize your ROI and grow your bottom line. But we all know 2020 is a year where it’s been particularly important to make your dollars make sense. With shut downs, occupancy restrictions and more looming uncertainty, it’s never been more important to uncover hidden savings. Today we’re sharing three often overlooked tax …

mobile warranty tracking

How Effective Warranty Tracking Could Uncover Hidden Savings

Guest Post with Matt Singer, Chief Financial Officer at Ecotrak Effective warranty tracking is underutilized, but offers great opportunities to reduce spend and improve efficiencies. Without warranty realization, work orders are submitted without knowing whether the equipment, service or part is under warranty. This could result in paying for a service visit or part that could have been free. We …

Benefits of Asset Tracking

By Matt Singer Any business that houses equipment that can break or requires maintenance can benefit from facility management software. All assets and their activities are tracked, monitored and reportable in real-time. Smaller companies with a handful of locations, in particular, can leverage the technology to keep operations organized and efficient, ensuring the company is positioned well for development and …

3 Tasks to Improve Your Business When You Can’t Fully Open

In this time of continued uncertainty, you might find your business is operating under reduced capacity or even experiencing rolling shutdowns if staff become ill or re-opening orders fluctuate. But just because it isn’t business as usual, doesn’t mean you can’t take action that will benefit your business and your bottom line. Below, we outline the top three areas you …

Updated PPP Forgiveness Application and Rules

As we’ve shared, the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) provides 100% federally guaranteed loans to small businesses where qualified businesses with fewer than 500 employees can receive 2.5 times one month’s total payroll. If you’ve received a PPP loan, hopefully you’ve been following our tips on tracking your accounts and preparing for loan forgiveness.  Here we’re sharing information …

How Our Team Kept Busy During Our Two Month Shut Down

At OnePoint, we’re taking every precaution to keep our team safe while getting back in the office for our clients. As we begin to embark on ending our mandated work from home period, our team reflects on how they kept busy (and sane) during the two months of shut down. “I’ve found that it’s important to keep my routines going …

Where You Might Be Leaking Dollars in a Time You Can’t Afford To

As your business experiences the economic impacts of COVID-19, you’re likely deploying many financial relief strategies to weather the storm. We’re sharing some accounting tips from OnePoint’s Manager of Accounting, Bernadette Gonzalez to help you make sure you don’t leak dollars in a time you can’t afford to. Proper Ring Up and Promotion Procedures Maybe this is the first time …

What You Need to Know: Paycheck Protection Program Loan Terms & Forgiveness

As we’ve shared, the Small Business Administration’s (SBA) Paycheck Protection Program provides 100% federally guaranteed loans to small businesses where qualified businesses with fewer than 500 employees can receive 2.5 times one month’s total payroll. Recently updated FAQs to the Payroll Protection Program clarifies that restaurant companies that are set up as separate legal entities wholly owned by a Parent …

IMPORTANT – Financial Relief Strategies During COVID-19

We understand and appreciate the challenges you’re facing. As a trusted accounting partner to the franchise industry, today we’re sharing three strategies to explore as you assess the state of your business and make plans for your financial future during this crisis. 1. Take Advantage of the Government Bailout: Paycheck Protection Program The Coronavirus Aid, Relief and Economic Security Act …

Automation in Franchising: The Kiosk is Coming

By Laura Wright As seen in FRANCHISING WORLD. As technology changes the way do we business, franchises must adapt. Automation is coming to the business world, but it’s something you can embrace to improve your business operations and bottom line. Read the full article from our managing partner, Laura Wright, in Franchising World to learn more about how you can …

How to Encourage More Women to Franchise Their Business

More women are entering franchising than ever before. In fact, between 2011 and 2017, female franchise ownership jumped 83 percent. But while many more women are purchasing franchise units (and at a rate faster than men, no less), there is still a gap between male and female franchisor ownership. The International Franchise Association’s (IFA) Educational Foundation Director of Research, Kathryn …

How to Catch Theft with Your Cash Over and Short Account

Do you know all the stories your accounting data can tell? At OnePoint, we’ve seen first-hand how consistent accounting processes can assist our franchise owners with forecasting, identifying trends and even enable you to catch theft. Today we sit down with OnePoint’s Manager of Accounting, Regina Leong, and Senior Accountant, Bernadette Gonzalez to discuss all the valuable information lurking in …

Why Franchising is Attracting More Female Owners

By Diana Mead Women are owning more franchises today than ever before and the growth of female ownership is only accelerating. Between 2011 and 2017, female franchise ownership jumped by 83 percent, while male ownership only increased 13 percent, according to FranNet. While women hold only 20 percent of board seats at Fortune 500 companies and only 5 percent of …

How to make Your Accounting Data Actionable

By Laura Wright Big data has been all the buzz in the business world for more than 5 years. But how are organizations using that data to make better decisions and drive profitability? According to Forrester, 74% of businesses want to be “data-driven” but only 29% are actually successful at connecting analytics to action. The good news is, making your …

The Rub on Chicken Wings

In recent months, purveyors of chicken products have noted a steep rise in the cost of chicken. In particular, chicken wings. It is tempting to revisit Economics 101 and simply postulate that either the supply must be dwindling or the demand increasing. While this is true in some respect, a more complete answer to the mystery of hot wing pricing …

Fast-Casual Fever

It is undeniable that fast-casual restaurants have gained massive popularity in recent years. Eateries like Chipotle, Jimmy Johns, or Panera are becoming the lunchtime preference for people of all types. If my own preferences are anything like that of the general public, I assume this is because fast-causal restaurants are the happy medium we all look for. The words “fast-food” …

Period vs. Monthly Accounting

We are often asked if we recommend monthly or period reporting to our clients. Both approaches have merits and shortcomings, and we want to simplify the decision as much as possible. Below we have focused on the major and important drivers. The simple answer to this question is that if your business’ revenue varies greatly by the day of the …