Some Cost of Goods Sold (“COGS”) expenditures are obvious (eg. raw materials or subcontractors working on a customer’s job), while others that …
How To Be Prepared For A Business Personal Property Tax Audit: Tips From Bookkeepers & CFOs
By: Jeff Heybruck As a fractional CFO and bookkeeping firm, we’ve gone through our fair share of business personal property audits with …
Accounting & Bookkeeping FAQs
In this installment of our frequently asked questions, we demystify some accounting and bookkeeping questions that our CFOs and accountants get asked …
Should I Use The Same Company for CFO and Bookkeeping Services or Keep Them Separate?
by Lucrum Staff Is your company considering outsourcing fractional CFO and bookkeeping services to two different companies? Using a single provider for …
QuickBooks Online Migrations Gone Wrong: 3 Cautionary Tales
by: Lucrum Staff With the approaching end of QuickBooks Desktop, more and more organizations are considering Intuit’s cloud-based QuickBooks Online. Our team …
I’m On QuickBooks Desktop Pro or Premier…Should I Migrate to QuickBooks Online or Upgrade to QuickBooks Enterprise?
by Debbi Silva If you’re on QuickBooks Desktop Pro or Premier, you’ve likely already heard about Intuit’s plan to phase out the …
QuickBooks Integrations: A Checklist To Successfully Plan Your Next Integration
By: Jeff Heybruck In addition to reducing tedious, duplicative data entry across multiple systems, integrating apps with QuickBooks can enable real-time financial …
QuickBooks Desktop 2024: What’s New & Different
By: Debbi Silva The 2024 release of QuickBooks Desktop brings a few notable updates and changes. As our accounting software of choice …
Is QuickBooks Desktop Being Phased Out? – Your FAQs Answered
Heard the buzz about QuickBooks Desktop being phased out, but aren’t sure what that means for your organization? Our Lucrum QuickBooks experts …
The Power of QuickBooks Custom Reports: Real-World Use Cases
Out-of-the-box reports in QuickBooks are a great starting point, but QuickBooks custom reports are the key to creating actionable financial dashboards. We …
Advantages of QuickBooks Desktop vs. Online
By: Jeff Heybruck While QuickBooks Online has gained popularity for its accessibility and cloud-based convenience, QuickBooks Desktop continues to be a strong …
QuickBooks Setup Dos & Don’ts For Actionable Reporting
By: Jeff Heybruck Whether running a salon with multiple locations or managing a services business across territories, proper QuickBooks setup is crucial …
Budgeting in QuickBooks 101: Create A Budget In QuickBooks
By Jeff Heybruck Short on time? Take me to the key takeaways. Business owners who fail to spend at least one day …
Job Costing in Quickbooks: Setup Tips & Best Practices
by Jeff Heybruck Job costing, or the process of tracking the costs and expenses associated with a specific job, project or account, …
Understanding Cost of Goods Sold (COGS)
The Account on the Income Statement called Cost of Goods Sold (COGS) can be confusing to non-accountants. In this article, we’ll attempt …
5 Basic Accounting Principles Most Entrepreneurs Get Wrong
For most entrepreneurs, fast growth is the ultimate goal. Many start off with a great idea, hobby, side hustle, or like a …
What to Do When an Employee Is Terminated
Most business owners will have to terminate an employee at some point in their career. A termination event can be tense for …
Avoidable AP Mistakes
Avoidable Accounts Payable Errors: What to Watch Out for When paying a bill for a business, we all try to be 100 …
Frequently Asked Questions – December
In our second installment of frequently asked questions, we bring to light some answers that will likely be helpful for any business …
Frequently Asked Questions – October
In the decades we have spent with our clients, we often see the same questions come up. We thought it would be …
How to Survive a Worker’s Comp Audit
Small businesses with employees have the distinct honor once per year of being part of a worker’s compensation audit. Worker’s compensation is …
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