By John Egan The U.S. trucking industry is barreling down the road toward an alarming shortage of drivers. In an October 2022 report, the American Trucking Associations (ATA) estimated the industry was weighed down by a shortage of 78,000 drivers. That’s an improvement from the shortage of more than 81,000 in 2021, but it’s...
Keep personal and business finances separate to avoid confusion and ensure accurate reporting. This means having separate bank accounts and credit cards for business expenses. Too many times the small business owner co-mingles their accounts, which leads to poor accuracy of financial reporting. This can even cause issues when it comes to taxes.
A chart of accounts is used to categorize income and expenses and makes it easier to track financial activity. This will also help with tax preparation and reporting. You wanna make sure you think through the development so that you have a clear and concise listing. I’ve seen too many cases where not enough thought...
By Kathryn Mayer Amazon has rolled out a slew of new benefits for its employees, including an emergency savings fund, a mental health app and financial counseling, as wellness challenges mount for workers. The new benefits come as employers navigate a precarious time: Companies are seeing massive dips in employee well-being, while at the...
You want to regularly reconcile bank and credit card accounts to ensure that all transactions have been recorded accurately and to catch any errors or discrepancies. With so much fraud going on these days, reconciliations are a way to catch them before it’s too late to recover. Having accurate books that are reconciled enables you...
While many businesses do just that, I recommend the use of accounting software in the long run. It saves you time and provides a check and balance system. No need to understand debits and credits. The software does it for you. What’s the best software? Well, it depends upon your needs, but most small businesses...
By Matt Gonzales Maintaining a healthy work/life balance is a challenge for many employees. But for Kay Lee Mynatt, it’s a necessity. She is the mother of two children. Her youngest son, Spencer, 1, has Down syndrome. Mynatt takes Spencer to multiple therapy sessions per week—physical, occupational and speech—to boost his motor skills, strengthen his...
It amazes me when I meet a potential client and see that their records are a mess. That’s why I’ve coined the phrase I love shoe boxes. Keeping accurate records is essential if you want to know the health of your business. In addition, there are compliance and legal reasons. You want to have those...
The first thing to do is be informed. I always recommend having an HR professional on your team. Let them do what they do best so that you can do what you do best, and that’s run your business. You need to stay informed, ensure you have updated policies and procedures, ensure employees are properly...
The perception that exempt employees do not have to put in the same amount of time as non-exempt employees may stem from a misunderstanding of the Fair Labor Standards Act (FLSA) and the concept of exempt status. Here are a few reasons why some employees may have this belief: Salary-based Compensation: Exempt employees are typically...
Copyright by People First INC. All rights reserved. 2022
2022 Copyright by People First Inc. All rights reserved.
