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Business Continuity Plan – An overview

Business Continuity Plan – An overview

The unanticipated Corona outbreak has left the global economy and businesses in a state of anarchy. While businesses are still trying to figure out the best way to survive during these tough times, a Business Continuity plan can be their best bet to pull them out of this crisis. 

So let’s discuss in details what is a BCP and how it can be of help:

What Is Business Continuity Planning (BCP)? 

A Business Continuity Plan(BCP) is designed to pull out companies from potential threats and risks. It ensures that assets and personnel are kept protected so that they are able to function efficiently during tough times and make sure business operations aren’t hampered.

BCP assesses each and every risk that can cause a failure to the businesses operations process and plans out risk management accordingly. Risks can be either natural disasters like fire, flood etc or can be man made like cyber attacks. While every company and industry has a different set of driving factors and therefore BCP differ accordingly, a general business continuity plan includes the following:

  • Determine how exactly these risks will affect the normal functioning(or operations) of the company
  • Mitigate the risks by enforcing safeguards and procedures to mitigate the risks
  • Testing procedures to ensure they work
  • Reviewing the process to avoid any delays
  • Policy, purpose, and scope
  • Goals and objectives
  • Key roles and responsibilities
  • Risk mitigation plans
  • List of tasks required to keep operations flowing
  • Explanation of where to go during an emergency
  • Information on data backups and site backup
  • Plan maintenance protocols
  • Coordination with local emergency personnel
  • Contact information of management personnel

You May Also Read – 5 Common Property Accounting Mistakes and How to Avoid Them

5 Steps for Developing a Business Continuity Plan

As businesses have been suffering the mayhem caused by the COVID-19, they are striving hard to get back on track. However, one can use a Business Continuity Plan to come out of this trouble. Here’s how you can develop a solid BCP. 

  • Business Impact Analysis:

Start with analysing the impacts of the risk on your business and use the information to figure out the processes that are having the most impact on the business’ financial and operational functions. Once you have identified the pain points, move onto the next step which is recovery.

  • Explore Recovery plans:

Now since you know about the pain points, in this step, you must identify and explore what steps need to be taken in order to recover critical business operations and make them functional. 

  • Form a team:

While you have devised a recovery plan, it is the continuity of the process that will define how well you recover from the losses done and for how long your operations will continue to be functional. Therefore, it is necessary to form(organize) a continuity team to monitor the recovery process.

  • Testing

Till the time you aren’t testing, you won’t know what’s working best for your business. It’s wise to test various business continuity plans in order to make sure which is the most effective.

  • Training

To ensure that the continuity team formed above to monitor that the recovery plan is performing its task with efficiency, training of the team is very vital. Training is what is very essential for skill development as well as to keep up with the ongoing trends which is the need of the hour

Summing Up:

Tough times require both courage and extraordinary measures. While the economy is suffering a downturn and businesses are taking tough steps like downsizing to cope up with the corona outbreak, a Business Continuity Plan can significantly help businesses find better ways to get back on track.

Top 10 Accounting Software Best for Your Business in 2020

Top 10 Accounting Software Best for Your Business in 2020

The ultimate goal of any business is to increase their financial health and profits. To ascertain this goal, it is important to keep a regular and accurate tab on the financial position of the business. As we all know, maintaining the accounting records of a business is a mammoth task and involves huge operational logistics, never-ending ledger entries, and complex transactions. Therefore, having a healthy and standardized Bookkeeping and Accounting ethic is important to run your business’ other core functions effectively.

Accounting Softwares are your answers to doing all the above-mentioned tasks with finesse, accuracy, expertise, and time effectively. In the current times of running a business, accounting software is now an integral part of your bookkeeping logistics and automates the process of maintaining accounts by eliminating the need for time-consuming manual entries.

List of top 10 Accounting Softwares:

They can escalate your business’ operations and make them smooth and stress-free.

 

  • QuickBooks


If you are looking for an accounting tool that is seamless, fast, organized, and generates comprehensive data, all in one, then QuickBooks is your pick. This modern accounting management tool is good for users whether they are beginners or professional accountants. It is packed with powerful features like:

  1. Invoicing
  2. Banking
  3. Easy Dashboard
  4. Sales and Inventory Tracking, etc.

You can create custom professional invoices and have a completely integrated banking feature that updates your statements and transactions automatically. Get a real-time 360-degree view of your business’ operations from anywhere!

 

  • FreshBooks


The purpose of FreshBooks is to help you carve business decisions on the basis of actual business insights and important financial data. It helps you get access to all accounting functions in cloud-based accounting software, so that you have everything you need, anytime and anywhere. Its a spectrum of usage goes from basic accounting functions to more complex operations like custom invoicing, expense management, and administering Payroll Services. FreshBooks is dynamic and scalable accounting software and it grows as your business grows. 

 

  • Sage


If you are using Windows 10/8.1/8/7 and need accounting software, then Sage is the top choice on the market. No matter what your business and accounting goals are, Sage adapts itself to suit and fit your needs. You can manage your books and then extend the data on the cloud for ready availability anytime and anywhere. There are additional options of Sage Live and Sage X3 so that you can always be in tandem with the needs of the customers. The only downfall of sage is that it involves a decent learning curve and it is not something that can be readily grasped by beginners.

 

  • Tally


If you want to surpass just having an accounting software and need a complete business solution that not only streamlines your business but makes the management simpler, then Tally is the right choice for you. This accounting software is an all-rounder when it comes to a user-friendly interface, versatile businesses, key accounting features, business management capabilities, budget management abilities, and prompt banking functions. All your operational needs are taken care of by single accounting software. There is a high-grade data encryption and backup facility with a very simple installation procedure. 

 

  • Wave


Wave is cloud-based free accounting software that is also one of the main choices of freelance accountants. But as it is free, its main downfall is that it has limited features, no app support and is not suitable for large businesses. However, if you are just starting up, or need to see how accounting software works, then it has key accounting features in its kitty. You can connect bank and credit cards, receipt scanning, invoicing and elementary bookkeeping and payroll functions to start your journey of using accounting software. 

 

  • Zoho Books


Zoho Books too is an all-in-one accounting solution for your business. Be it expense tracking, comprehensive and detailed reporting, banking functions, and spending management, Zoho books can do it all. Its core functions include the key accounting operations and it is ideal for small businesses. Although, we do not recommend it for large businesses as it is cloud-based and does not have effective desktop integration as well as lackluster payroll functionality.

 

  • NetSuite ERP


The NetSuite ERP is a cloud-based accounting software that is designed to meet the needs of dynamic and fast-growing SMEs. It automates key accounting processes like inventory management, revenue management, order management, and key functions like accounts payable, accounts receivable, general ledger, tax management, etc. 

This accounting software is trusted by millions of organizations globally to streamline their accounting requirements and also for its seamless integration with CRM, inventory, and order management tools. You get an audit trail visibility, financial planning, payroll management, and flexible invoicing amongst many excellent features of the NetSuite ERP.

 

  • SAP


SAP is an accounting software helps simplify the global accounting functions and makes it fast, accurate, and seamlessly automated so that you can continue to run your business operations without any worry. It is easily expandable and dynamic, it can synchronize with Microsoft applications like Word and Excel and is complete with basic and simple data sharing. The only cons that SAP has are that it has a complicated and time-consuming initial set up and often requires third-party support and additions to achieve its full experience.

 

  • Dynamics Accounting Software


Dynamics 365 is a product of Microsoft’s many competent software offerings. It automates operations wherever possible and organizes maximum accounting functions with minimum time management requirements. It is packed with quite a punch with all the basic software functions already in place like invoicing, payroll, payables, and receivables. It is built for big businesses and offers comprehensive industry-specific accounting solutions.

 

  • Busy


With over 2 million installations worldwide, Busy is the perfect accounting software for micro, small and medium-sized businesses. Its popularity is a result of the business tools and comprehensive accounting functions that it is packed with. It is based on excel functions and has a wide range of video tutorials available to be accessed from even the most remote locations. 

 

Choose What Your Business Needs:

Every business has differing accounting needs on the basis of the industry you are in and the size and stage of your business. This blog gave you a review of the top 10 accounting software in the business and their unique strengths and functionality. On the basis of what your business needs and the scalability requirements of your organization, you can choose the accounting software that is the best fit for you. After all, the right accounting solutions will help you save time, money, and increase your accounting efficiencies so that you can run your business without any worries! 

Top 10 Free Invoicing Software for Small Businesses

Top 10 Free Invoicing Software for Small Businesses

The base purpose of being a part of any transaction of goods and Services, or as we call it, doing ‘business’ is to be paid for it. Any transaction is considered complete and worth to be added in a business’ revenue, only when there is a final transaction of payment made. Now it is easy to go on any word processor, draft an invoicing and send it to the concerned party to wait for the payment. Or, you can always use an invoice generator and fast track the whole process.

In this blog we will tell you the best free Invoicing Software there are in the market, that you can avail and make your payment gateway easier. But before that it is important to know what are the key features that you need to look for in these software.

Some of the factors that you should keep in consideration before going ahead with a free software that aids you with invoicing are:

  • You should be able to generate unlimited invoices without having to upgrade to a premium plan and pay a fee later.
  • It should be simple, intuitive and fast. The learning curve needed to get a hang of the software should be minimum.
  • And the most important thing in today’s day and age, is that it should be open to accepting online payments easily! Be it credit card payments, bank transfers or wire transfers.

Best Free Invoicing Software for Business in the Year 2020:

Paypal

Payment and Paypal are almost synonymous at least for millennial. This is true because it has been on and dominating the business of free invoicing software for almost 20 years now. It has a lot of recognition, credibility and the added advantage of a fully functional mobile app, that can help you with invoicing on the go! There is a dedicated tab on paypal just for invoicing where you can see the paid and the unpaid invoices easily. The customers who you send the invoices to, will also receive it on their paypal accounts, where they have the liberty to make the payments through any mode of their choice.

Shopify

This online invoice generator will make your life so much more easier. Be it from generating the bills to finally collecting the payment, Shopify makes the process increasingly easy. There is always additional credibility that it already has by being one of the greatest e-commerce platforms in the world, their custom invoice generator is of a premium standard and can do away with all your invoicing woes. 

Online Invoices

Whether you are planning to create tax, simple or business invoices, online invoices has you covered. In fact, it is so organized that you do not even need to make any modifications from your end. It can support mobile devices to give you added flexibility and it also has a very convenient preview button that helps you assess the invoices before you send it to the clients.

Billdu

If you are looking for a combination of convenience and efficiency then Billdu is your go-to option. It brings in enormous ease into the process of generating invoices. There are many forms of billing included in this software. Some of them are

  • Budget estimating
  • Expense reporting
  • Alternative forms of invoicing

There are three products that form different intensities and user bases of Billdu; these are, Billdu Online, Billdu Mobile and Billdu Page.

Zoho

Zoho is already known in the accounting business for its accounting software and wider efficiency. Because of their expertise in the business, they have now come to spread their wings wider and work in more niche fields in accounting. Their invoicing system is one such presentation. You can create invoices easily be it whatever your requirements are. From freelancers, to SMEs, Zoho’s invoicing system has something to offer to everyone.

Wave

As an accounting platform, Wave is known widely already. It is made keeping in mind small business owners and freelancers. You can track your outgoing expenses, create subsequent reports and connect your bank details as well. There are unlimited capabilities that you can get out of this software for all your invoicing needs. Be it unlimited customers, invoices, or expenses, it can handle everything. 

Invoiced

If you are a freelancer and want to create invoices that are readily available then Invoiced is the right choice for you. With every invoice, you can create additional terms and conditions or notes that need to go with the bill. You can use the software to either send it via email, or download and directly send it.

Invoice Home

As a freelancer, if you need to create an invoice generator that is fast and convenient then Invoiced Home is your option. It is a beginner-friendly option where you can make invoices easily where there are templates and personalizing options. You can add logos and make it fancy. Make things uncomplicated in your billing process with invoice home.

The Invoice Machine

Again, a great deal for freelancers and businesses who want it easy. Generate invoices, manage their organization and send those invoices as well. This although is not necessarily a software as it works directly on the web browser.

Invoice Ninja

If you are looking for a premium option, then this is the way to go. Invoice Ninja has a free version as well, where there are 4 pre-assigned templates. Well, it doesn’t just end there, it also has 30+ payment gateway options and it practically accepts all of the client preferences possible under the sun. Although, if you upgrade to the premium version, you will get ten more of these templates as well as removal of the software limitations. 

The Way Forward

The best way to run a business is when your logistics are not just practical, but efficient and operational. Having automated invoice processing, that is not just free, but time saving and prompt is the best way to make sure that your business transactions get the accurate and active closures it deserves. To add to that, when you have consecutive reporting, and the ability to please your customers instat\ntly by incorporating multiple payment gateways, there is nothing to stop you!

We hope that this blog helped you zero down on the best choice for your free invoicing software that can make your invoice generation stronger, accurate and faster. With seamless billing, your business can touch new heights of efficiency. 

All You Wanted to Know About IFRS 15

All You Wanted to Know About IFRS 15

The Revenue Recognition Principle is the concept that determines how revenue should be recognized and reflected in a business’ balance sheets and Financials Preparation statements. It differs in how one accounting principle does it than the other. The International Financial Reporting Standard (IFRS 15) was introduced by the Accounting Standards Board to provide a way to determine the revenue recognition model in its unique way. This helps improve comparisons within industries, across industries and in different parts of the capital market. 

Why is the IFRS 15 Important?

The IFRS 15 is important as it helped outline the difference and therefore make a common ground between the revenue recognition of IASB and IFSB. As the guidance and principles of both differed, the IFRS 15 brought consensus to the same.

Since When is IFRS 15 in Effect?

The fresh IFRS rules have been in effect since May 2014 and the annual reporting period has begun from January 2018 and replaces all the previous revenue recognition principles.

The principle that IFRS 15 detects revenue only on the basis of whether there was an actual transfer of goods and services at the designated price. Here are the steps that need to be followed to recognize the revenue for any business:

Step 1: Identify the contract with the customers that mark their rights and obligations clearly in a transaction. 

Step 2: It is then required to separate these performance obligations in the contract. 

Step 3: The transaction price is then required to be determined for the exchange from thereon. 

Step 4: Different transaction prices need to be allocated for distinct performance obligations. 

Step 5: Recognizing revenue when the now promised goods and services are transferred under the obligations of the contract.

This five-step model is required to recognize the revenue effectively.

Also Read – A Beginners Guide To General Ledger

Let us now look into each of the steps in greater detail.

Step 1: Identify Contract with the Customer

It is imperative to first identify the contract that needs to be approved by both the parties concerned. The rights in relation to each of them needs to be specified. This is also the step where the terms for payment need to be specified. This is the step where the organization needs to make it certain that a detailed guidance for the approved contract is made to the finest details. If there is a chance of certain conditions being met, then the contract modification will be counted as a separate contract with the customer.

Step 2: Identify the Performance Obligations in the Contract 

Right at the beginning, it is important and necessary to assess the goods and services that are obligated to the customer and therefore identify as a performance obligation. This could either be:

  • Goods and services that are different and distinct in nature.
  • Or, goods and services that are similar in nature and have the same pattern of transfer to the customer.

Step 3: Determine the Price of Transaction

The transaction price is defined as the price which is expected by the organization as an entitlement and obligation of exchange for the goods and services in trade. This assessment is done by going beyond the customary business prices.

Step 4: Allocating the Transaction Price 

Although, any variable element is already considered in the agreement, but an estimation is still made available. This is done by recognizing the amount of uncertainty and variables that will be recognized. The only way that is determined is to associate it with whether its inclusion or exclusion will result in any degree of significant revenue reversal.

Step 5: Recognizing the Revenue as the Entity Completes the Performance Obligation

The control over an asset includes the ability to use and obtain benefits from an asset majorly. This includes the ability to use and obtain the actual benefits of an asset. These benefits are cash flows and they can be gotten either directly or indirectly.

To Sum Up

Revenue recognition is the base of any financial statement and the clear ability to make an analysis of what can be accounted as revenue and what not, is essential. The IFRS 15 helps entities and organizations take this call by demarcating a clear and concise process of recognizing revenue.

It’s 5 step model can help your business determine the nature of transactions, conditions of transactions, pricing and the parties of association that come together to make revenue.

How to Get a Small Business Disaster Loan During COVID-19

How to Get a Small Business Disaster Loan During COVID-19

In the light of the current COVID-19 pandemic, the federal government has given a breather to all small business owners in the US with the Economic Injury Disaster Loan (EIDL). It is designed to give relief to business owners who have been impacted by a loss of revenue in this time and therefore is offering an advance of $10,000. The borrowers will not have to repay this advance loan amount. 

 

What is the SBA Disaster Loan Program?

The SBA disaster loan program is a relief program by the US government to support small business owners who have been affected by COVID-19 and incurred losses in revenue. This relief is extended to proprietors, independent contractors and all small businesses, etc.

The maximum limit of loan dispersal is $2 Million if you have been hit by the pandemic majorly. The interest rate for the loan is at 3.75% on qualification for businesses and 2.75% for non-profit organizations. These loans have long terms ranging from 15-30 years, so that they are accessible and viable to everyone.

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Who Can Apply for the Loan?

Any small business, across the different states of the United States can apply for the SBA loan. But, due to the current lack of funding, the loan applications have temporarily been closed and are available only to the agricultural industry for fresh applications. 

Currently the major preference is on a first come first serve basis and the upper hand is being given to business’ in the agricultural sector. Those applications had been closed by April 15 and were in the process of being under consideration.

Although, with a fresh round of funding from the Congress, the process has been resumed once again. Here are some of the key points that you ought to know:

  • Agricultural businesses that are engaged in the production of food and fiber, ranching, and raising of livestock, agriculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
  • SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.

How to Apply for an SBA Loan?

You can go to the SBA’s Disaster loan portal (simply click here). There are no submission of forms that are required at this time, and can also get an EIDL emergency grant of $10,000 within 3 days of application. (As stated above, you are not required to repay this initial grant, irrespective of whether you are able to qualify for the SBA loan eventually or not.)

Upon application, your credit rating is assessed, and your income and tax statements are checked to see the extent of your need for the loan. For loans above $200,000 the lender can expect you to submit a collateral. For loans under $200,000 there is no need to necessarily submit a collateral to the lender, unless you feel you want to wilfully increase the chances of getting the loan.

A very important point to note, that if you submit enough collateral, you will get the SBA loan, but it is dependent on how much the assessor feels you are in need of and can thus be levied to you.

Steps to File the SBA Loan Application:

  • Complete the initial application online.
  • Gather all the necessary documents required hereon.
  • Once the SBA assesses your credit, it asks you for additional documents.
  • Let us now look at the detailed steps to file the form:

Section 1: Disclosures:

Select the type of business you are applying for, and check off all the eligibility requirements as given there.

Section 2: Business Information:

Filling this will require you to have your income statement as of January 31, 2020 with you. 

  • Add your legal name (as on your tax return)
  • Your business phone number
  • Gross Revenues for the 12 months before date of disaster (January 31, 2020)
  • Cost of goods for the 12 months prior to date of disaster (January 31, 2020)
  • Any grants received.
  • The sections marked with a red star, need to be filed only if they apply to your business.

Section 3: Business Owners Information

First, mention if your business is owned by another business. If it is owned by individuals, you need to fill out owner sections for each member owning more than 20% or more of your business.

The following personal information needs to be added:

  • Social Security Number
  • Date of Birth
  • Place of Birth
  • Citizenship 
  • Residential Street Address

Section 4: Additional Information

  • Mention if anyone has been involved in any criminal charges.
  • Fill out the section in blue, if you have hired someone to file the application for you. (Including an employee.)
  • Select the box to select the advance payment of $10,000
  • Check your banking information

Wrapping Up

Currently the SBA disaster loan is open only to agricultural businesses, but we hope that soon this opens up for the larger majority and all businesses alike are able to make out of this pandemic smoothly. The SBA disaster loan is the federal government’s attempt to help businesses gain security, protection and safety during the pandemic. 

Top 5 Things You Need to Know Regarding PPP Loans Amidst Covid-19

Top 5 Things You Need to Know Regarding PPP Loans Amidst Covid-19

In the wake of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the United States has conferred an additional $310 billion funding to the Paycheck Protection Program (PPP) that was almost running out of funds in April. The importance of PPP is ever-important in these times of economic uncertainty as PPP is one of the few opportunities that small businesses have to obtain forgivable loans to sustain employees on the Payroll.

But, there are so many questions that are yet to be answered and cleared for entrepreneurs, especially in the light of the forgivable nature of the PPP loans.

Another burning issue here is the grey area, where many public companies confessed to having taken the PPP loan which was truly meant for small businesses with employees less than 500.

To contain such malpractices, the federal government has come out with the briefing that the authorities will audit any company that levies for loans more than $ 2 Million.

This blog will provide answers to all the commonly asked questions and queries related to the PPP loan and how it can benefit your business.

Question 1: What costs are eligible for forgiveness under the PPP?

Answer: The actual forgivable part of the PPP is dependent on certain factors. These are based on the payments made and the costs incurred during the COVID-19. These are the costs that are eligible for forgiveness in the PPP loans:

  • Salary and wages or other similar payroll compensations.
  • Payments that have been made in the light of sick leaves.
  • Allowance for separation.
  • Payments made for group health care benefits, including insurance premiums.
  • Retirement benefits
  • State or federal payroll taxes
  • Please note that cash compensations that exceed $100,000 are exempted from this excuse. Additionally, the employer’s share of the federal payroll taxes is also exempted from being forgiven under the PPP.

Question 2: What costs are not eligible for forgiveness under the PPP?

Answer: Although the PPP loan is a breath of fresh air for businesses who are trying hard to genuinely retain their employees, there are still certain costs that are exempt from being forgiven under the PPP loan. These are:

  • Payments made to independent contractors.
  • Under the Family First Coronavirus Response Act, there are qualified sick leaves and parental leave wages. These, therefore, are exempt from the forgiveness under the PPP.
  • If we take February 15, 2020, as the benchmark date; then any interest payments on personal property, rent payments under agreements in existence, and utility payments like electricity bills, etc. are also not permitted for forgiveness under the PPP loan.

You May Also Read – 10 Ways Your Bookkeeper Can Help You Through Covid-19

Question 3: What are the limitations of loan forgiveness?

Answer: There certainly are limits to forgiveness in the PPP loans. The first is that not more than 25% of the loan forgiveness can be linked to non-payroll costs. Additionally, proceeds directed towards advance up to $10,000 on Economic Injury Disaster Loan will also be deducted from the loan forgiveness amount.

There are two formulas to determine the forgiveness amount in the loan deduction. The FTE Method and the reduction in wages.

The loan forgiveness amount is subject to reduction by multiplying it by the following fraction. These are as follows: (This is known as the FTE method)

  • The numerator of which is the average number of FTE employees per month employed by the borrower during the covered period.
  • The denomination of which, as elected by the borrower is:
    1. The average number of FTE employees per month (from Feb 15, 2019, to June 30, 2019)
    2. The average number of FTE employees per month (Jan 1, 2020, to Feb 29, 2020)

The second is the reduction of wages method. This method is applicable as follows:

  • Identify employees who did not receive the salary at an annualized rate of more than $ 100,000 for a single day in 2019.
  • Compare each covered employee’s wages during the period to his/her salary during the first quarter of 2020.
  • For an employee who is covered, the salary is reduced by more than 25%, then you need to apply the following formula:
    1. Multiply the first-quarter wages by .75
    2. Subtract the result from the covered period wages
  • The aggregated dollar amount will reduce the loan forgiveness amount. 

Question 4: What are the documents that you need to apply for forgiveness?

Answer: To receive the loan forgiveness, you need to comprehensively submit accurate copies of the following documents, complete and updated:

  • Documentation to verify the number of FTE employees on the payroll. This also includes the payroll tax filings.
  • Canceled checks, payment receipts, and transcripts of accounts verifying payments of mortgages, rent and utility payments.
  • You also need to submit an authentication certificate from a representative of the business that certifies that the information and documents submitted are accurate and the amount that is requested for forgiveness, will help retain employees.
  • In addition to these, the SBA can also ask you to submit additional documents to solidify and authenticate your case. 

Question 5: Are large businesses with adequate sources of liquidity qualify for a PPP loan?

Answer: No, the essence of PPP loans was to help small businesses, retain employees, and sail through these financially crunching times of COVID-19 smoothly. If larger businesses, who have enough sources of liquidity take this PPP loan, then the small businesses will be crushed under undue competition. Hence, as per the federal laws, for any business that takes up a loan above $ 2 Million dollars, will have to undergo a complete audit. 

What Does Your Business Need?

The essential element in COVID-19 is to sail through with as little damage as possible. With the PPP loan and the secure ability to seek forgiveness on the loan is a boon in these times. You need to seek spaces where you can seek the maximum benefits and forgiveness on the PPP loans. We hope that your essential queries were answered and cleared through this blog. For any additional query and query on the PPP loans and how it affects your business, please click here.