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New Orleans' Ledet Contributes to AccountingWEB E-book

August 3, 2016 / by Gina Sabelli posted in New Orleans

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What_Your_Clients_Really_Want.jpgWhat are small business owners looking for in CPAs and other accounting professionals? A new e-book has the answers — and features a number of insights from Bryce Ledet, Owner and Managing Director of Supporting Strategies | New Orleans.

Deanna C. White, author of "What Your Clients Really Want," interviewed several accounting professionals on the challenges of addressing client needs. Ledet contributed to the chapters on using technology to reduce administrative burden, HR compliance and cybersecurity in the cloud.

"These topics are particularly important to me because they have the potential to increase costs and liability for clients if not managed properly," Ledet noted.

The e-book also includes chapters on cash flow; strategic business planning; state, local and other compliance burdens; and customer relationship management tools.

"I've seen first-hand how important it is for clients to understand these technical topics and to have trusted advisors who offer expertise in these areas," Ledet said. "Small business owners have to wear so many hats every day; the right service provider can add tremendous value by delivering efficient service and allowing the owner to focus on growing the business rather than on administrative tasks."

"What Your Clients Really Want" is available for download from AccountingWEB, which describes itself as "the leading online community for CPAs in the United States, providing news, software tools and guidance from top industry voices."

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Critical Financial Controls to Avoid Bookkeeping Theft in Your Business

October 2, 2015 / by Bryce Ledet posted in New Orleans, Bookkeeping Services

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BryceLedetforWebI recently read an article about a woman arrested for stealing over $200,000 from her employer over the course of a year. These kinds of articles are all too common As many small businesses employ an internal bookkeeping staff comprised of one person, it is quite common for the business owner to place 100% trust in that individual, and throws oversight to the wind.

Most likely your bookkeeping services, as well all of your business’ operations, are executed by trustworthy and reliable individuals who you are happy and privileged to have on your team. But when it comes to running a business, it is critical that proper checks and balances are put in place, and that you, as the business owner, have an oversight role in the accounting process. Not doing this could cost your business substantially, as you can see in the article referenced above.

If you have provided your bookkeeper or office manager a signature stamp to use for signing checks on your behalf, throw it in the trash barrel! Ensure at a minimum that you, or an individual other than your bookkeeper, like your CFO or COO, reviews and signs all checks presented for signature. The same goes for the use of online bill payment. Do not, I repeat, do not, give your bookkeeper access to pay your bills online through your bank's website. If you want to pay your bills online, set up Bill.com so that your bookkeeper can set-up the bills for you to release payment on. Ensure that your bookkeeper does not have direct authority to directly spend your money, period.

Other controls you can put in place include comparing your sales reports against your cash deposits to ensure all cash is accounted for, and reviewing your bank statement for questionable or unauthorized transactions on a monthly basis.

Above all though, it’s no use checking in with your numbers if you don’t check in with your team as well. Ensure your internal bookkeeper or bookkeeping services provider understands the processes put in place and that you regularly check in on the numbers. A combination of financial controls and a team approach to your business's accounting department will not only sniff out any wrongdoing, but will also keep you tuned into your business’ financial life and promote a culture of accountability and transparency.

Download our E-book

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Proposed Changes to Overtime Rules & Their Impact on Payroll Administration

August 17, 2015 / by Bryce Ledet posted in Small Business Advice, New Orleans

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BryceLedetforWebMaking sense of the proposed changes to overtime rules may seem daunting when it comes to payroll administration, but it's important that small businesses take the time to get it right. Although the rules haven't yet become law, it's not too early to consider their potential impact.

In some cases, the rules changes will reduce the overtime threshold for small businesses with salaried employees. Simply reviewing salary isn't sufficient; a duties test also applies. Determining which employees are affected will take some coordination between management and those dealing with payroll administration.

This article from our payroll services partners at ADP lays out the basics.

Steps You Can Take

Beyond determining who on the roster would be affected by the rules change, what can a small business owner do?

Start with answering key questions like these:

  • Is your business in a position to absorb these increased costs?
  • Does the business need to raise prices?
  • Are there changes to be made that would increase efficiencies to get the same amount of work done in less time?
  • Does it make sense to hire additional employees and reduce the overall work week to 40 hours?

For small business owners concerned about cash flow, then, the choice is whether to fund additional efficiencies, uncover ways to manage costs or increase prices, or recalibrate the number of employees to try and reduce overtime.

As payroll services experts, Supporting Strategies is well-positioned to help clients face these challenges. Working together so closely from an operational perspective gives us added insight — knowledge that can help clients take the steps to stay in compliance and minimize the impact on the bottom line.

That's the kind of contribution that serves clients and their employees across the board.

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To Keep or Not to Keep: An HR Primer on Employee Records

February 9, 2015 / by Bryce Ledet posted in Small Business Advice, New Orleans

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ADPSorting out what belongs in your employee files can be a big task. And getting it right is extremely important.

Fortunately, we've found a resource that presents a long list of what does and doesn't belong, by category, and succinctly answers some commonly asked questions (as well as some questions that won't occur to most of us.

An ADP guide, Record Storage Best Practices, covers:

  • The different types of confidential documents
  • How they should be stored and secured
  • How to properly dispose of these documents when the time is right

This 10-page doc is an easy read. It's worth taking a look at now and keeping handy for the next time you have a new hire question.

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