My Blog
Blog
Having Problems with Employees not Returning back to Work?
| Posted on June 30, 2020 at 7:45 PM |
comments ()
|
 We congratulate you for making it
through the Pandemic and getting back with your Business Operations. We are
excited about the endless Possibilities and Opportunities, that the
future holds for us. We look forward to working with you in making this Possible. Governor Larry Hogan recently announced the next round of safe and phased re openings in conjunction with stage two of the " Maryland Strong: Road map to Recovery" Plan. We are also aware that, the Federal Government will forgive part of your PPP Loan, as long as 60% of the Amount goes towards Paying your Employees. In light of these re openings and Loan Forgiveness Rules,
the Maryland Department of Labor has notified all unemployment
claimants who are on temporary layoff or are furloughed due to COVID-19 that
they are required to return to work if called back by their employer. If a
claimant refuses an offer of work, it may result in the delay or denial of the
claimant’s benefits. Labor’s Division of Unemployment
Insurance requires employers to report the following information within 15 days
of when they offer work and it is refused by the employee:
If your Employees refuse to get back
to work, there is a New Employer Tool for Updating Return to Work Dates and
Reporting Job Refusals Online, which is included below. Employers who have a
valid Maryland account number and FEIN may easily report job refusals
and update return to work dates by utilizing the Division’s new online
application available at https://secure-2.dllr.state.md.us/net207/welcome.aspx.
The application will accept an updated return to work date up to 30 days in the
past and up to 12 months in the future. Employers without a
valid Maryland account number, such as federal employers and those
who are out-of-state, may report job refusals and update return to work dates
by emailing [email protected]. However, please note there are
circumstances where a claimant has “good cause” to refuse an offer of work,
including:
Upon receipt of this information
from the employer, Labor will schedule a telephone fact-finding appointment
with the claimant where the claimant will be able to address the failure to
return-to-work/job refusal issue. The employer will also be contacted to
provide the circumstances of the job offer. After the Division has collected
the available facts surrounding the job offer, a determination will be made. We are aware, that this may be a tedious and additional
workload for you; As your Trusted Bookkeeping, Accounting and Payroll Provider,
we are excited to let you know, that we can assist you with this Task, as well
as any other Services, you may require to allow you settle down and work on
your Business. Call Us on any of the Numbers Below
and Let us know, how we can assist you: C - 2020-422-4586 O - 301- 485-8109 To your Business Success. Rosemary Anyanwu, CFE. Certified QuickBooks Pro Advisor Professional Bookkeeper & Accountant. |
Work Anniversary Celebration.
| Posted on May 15, 2020 at 3:44 AM |
comments ()
|
 Congratulations to Rosyan Bookkeeping Services Today marks 8 Years of Our Company. Birthed from a Labor & Delivery Room Became a Reality at the Birth of a Third Child Became liberated from the High Costs of Child Care Expenses. Became a Business Support to many Businesses. Became an Employer of Labor Became a QuickBooks Training Center Became a Bedrock to Many Homes and Families. Became a Leading Example to Youths and College Interns. Became a Support to Non-Profits. Became a Successful Business. Became Hope to our Clients. Breaking through the Pandemic And Coming out Stronger...................... To Many More Years of Business Success. Congratulations. We are grateful to all our Clients, Colleagues and Friends. Thank you for all your Support. Thank you for standing with us through the Years. We know, these are unprecedented times and there are a lot of challenges during these Period, but we want you to know, that we will get through this together and come out stronger. Don't hesitate to call, if you need a Supportive Ear. We are a Call and a Click away. Together, we will celebrate and get through this. We love and appreciate you. |
5 Strategies Of Turning your Profits into "Cash"
| Posted on December 8, 2014 at 2:29 PM |
comments ()
|
The Holidays are here and it's time to ensure that we have some cash tucked
somewhere for the Holiday Shopping, Gifts, Christmas Parties, as well as
Year-end Savings.
In our last Newsletter, we uncovered the myth of profits, and learnt that,
understanding how transactions occur in our business and its effect on our
financial statement is key to managing our profits. Please feel free to
refer to our last newsletter for the full details. This Month, We will be
looking at 5 strategies of turning our Profits
into "Cash": 1 ) Cash is King: Every company experiences an increase or decrease in
Cash availability at any given period; the basic key to turning your profit
into "Cash" is what you do, when you have made a Great Sale and
received Payments from a Business Windfall. This should be the period
to have a Savings or Cash reserve Account, whereby you can set aside a certain
percentage of this revenue and discipline yourself, not to meddle with the
account. This is called effective Cash Management, and it takes a lot of
discipline, but if taken seriously, you will achieve great results. 2) Plug your Cash Leaks: A lot of Business Owners are surprised about
the waste, inefficiency and unchecked spending of precious Cash that should
have remained in their Bank Account, if they have been managed
effectively. As a Business Owner, it's possible to have been a culprit of
any of these acts:
It's time to take a forensic trip down your Profit & Loss
Statement and try to justify every expense line item, I assure ,you there
will be a 5 % more profit ,just waiting to find its way to your bottom
line. 3) Take Ownership of your Business Account: A lot of Business owners
tend to mingle their personal expenses with their Business Account. Once you
indulge in this practice, your financial reports are contaminated and become
pretty worthless, especially when it comes to decision making. It's better
to take ownership of your Business Account and maintain it, as a separate
"entity" from your personal account. This will help you manage
your cash flow better, and hence you will able to pay yourself
appropriately. After all, this is the reward of being a savvy
business owner. 4) Avoid taking on too much Debt: Too much debt sucks the financial life
out of a company. In our last Newsletter, we learnt how Principal Loan payments
occur on the Balance Sheet and are funded by your profit; Imagine what happens
when your company is overburdened with debt, Chances are that you will use your
Cash flow to continually offset the debts, and this causes your company to be
cash starved.
The only way to eliminate debt is to put yourself and your company on
a "strict debt reduction diet". If
possible, Stop adding further debt to your company; otherwise have a
strategy on how to pay off the debt, if you MUST take on further debts. 5) Have a Budget: A Budget is a blue print of an
estimation of revenues and expenses for a given period in the future. A Budget
gives financial direction. A Budget keeps you on track and helps you
to manage your cash flow. Preparing a Budget makes you disciplined and faithful
to keeping your profits. This is the best time to prepare
a Budget for your Business towards the upcoming year.
As we approach the New Year, Why don't you try out these practices and
watch your Cash flow grow. You will be surprised at how a few dollars will
add up in your Bank Account.
Do you need help with creating your Budget for the upcoming year? Are you
experiencing problems with recognizing your expense line items and
don't understand how your Cash flow operates? Why don't you give us a
Call, We will be glad to help you out.
Happy Holidays. |
What do you expect your Profit to be this Year?
| Posted on October 7, 2014 at 1:17 AM |
comments ()
|
Profitability is a key driver of financial success in business. The goal of every Business owner should be to make profit and improve their business to make it better. If you were having a discussion, one year from today, and looking over your financials, Will you be happy with your financial progress? This question should propel you to take action, about what you expect your profit to be for the year. Profit is like a car,that must be driven; it does not drive itself; for you to get a projected profit, you have to be on top of your profit expectations. I have listed some questions, which should stimulate you to focus on an expected profit, as the year is coming to an end:
As you go through these questions, you're painting a picture of what your financial success should look like, and this will lead you to action, for an end result. Having a picture requires taking action to actualize your projected expectations. These steps below will help you achieve your financial profit picture, feel free to put them into practice and see the transformation, it brings to your business: 1) Have a Target Goal: You need to have a financial goal for your business at the beginning of every year. The Goal can be broken into monthly, quarterly and semi-annual financial targets. It is advisable and easier to have a monthly target. 2) Monitor your Progress: Once you set your financial goals, you will need to monitor your progress, against your target every month. You can only monitor your progress by examining your monthly financial reports (Profit & Loss/ Balance Sheet Reports). If you have not been preparing your report, this should be a good time to start. 3) Adjust: At the end of every month, you need to review your target goal against your actual results (financial reports), and decide if you need to make changes, in your business, to achieve your targets. The changes can be in form of reducing an expense category to putting a plan in place for faster accounts receivables process. This is the secret to creating your financial success for your business. I challenge you to put these into action and watch your business achieve your desired projected profit. Do you need help with interpreting your financial reports? Perhaps you are yet to prepare your financial reports for the year, and don't have an idea of your actual profit; Call us NOW for further consultation and Assistance. We will be glad to help you. |
Setting up the Right Accounting System for your Business.
| Posted on September 5, 2014 at 12:50 AM |
comments ()
|
Setting up the Right Accounting System for your Business. Every
Business needs a good Business Accounting System to increase their
Business' chance for success. When Starting a Business, the first focus should
be on building systems and processes, that allow us to accurately capture
as much data as possible, from the setup process; It is important to remember
that this process helps us to learn about our businesses and enhances our
decision making, as well as giving us a better idea, of what is going on in our
Business. This Month, we will be looking at the processes of setting up the right business accounting system for our Organization. Below are some points to consider, when setting up your Business Accounting System:
You need to spend time in setting up the
right Accounting system for your Business, if you want your Business,
to be successful. We know that it is easy to get caught up in all the
administrative tasks and will suggest that you ask for help Do you have the right Accounting System for your Business? It's not too late to set up a good system for you, why don't you give us a Call to help you out. Remember: You are increasing your Business chance for Success, when you make your Account Setup, a priority. |