KPI Checklist for Evaluating Your CFO or Controller

By Wiss, Posted in Advisory Services

By Paul Ursich, CPA How do you grade the accomplishments of your Chief Financial Officer or Controller? Not only at review time, but whenever you’re thinking of the value this key management team member brings to your company. What are the key performance indicators, or KPIs, that really matter to you? Does your CFO or Controller know the KPIs that define success in your eyes? How could they know if you don’t? Here’s what to do: For starters, review the job description you created befor... read more.

Ideal Minimum Requirements for Your Accounting Department

By Wiss, Posted in Advisory Services

By Angelique Zitz, CPA One of the most common causes of chronic problems in accounting departments is having the wrong people on board - or the right people in the wrong positions. In other words, things can go terribly wrong when the education, work experiences and career trajectories of your personnel do not match up with your expectations. With that in mind, here are some of the ideal minimum requirements you should look for under most circumstances during your recruiting process. With the right people... read more.

Is It Time to Upgrade Your ERP Software

By Wiss, Posted in Advisory Services

By David Singletary We all know about the rapid pace of technology and the headaches it can cause your company. You’re constantly upgrading your tech hardware or software -- or fielding complaints from employees if you don’t. It can be more than merely annoying. It can also be costly and time-consuming. But there’s little that can consume more of both than a major upgrade to your Enterprise Resource Planning (ERP) system. Your ERP solution is the brain center of your company. Depending... read more.

Accounting Department Red Flags: Is It Poor Training, Incompetence or Theft?

By Wiss, Posted in Advisory Services

When things go wrong in your accounting department, you’re sure to feel the pain -- especially if errors are common. Problems and irregularities can crop up for several reasons. For instance, your accounting staff might be inadequately trained, or they’re just not suited for the job. But the cause could also be much worse: someone is stealing from your company. Let’s take a closer look at both scenarios. Innocent Mistakes Everything from inadequate training to incompetence could be the... read more.

Know When an HR Assessment Is Needed - Advisory Services - Wiss

By Wiss, Posted in Advisory Services

By Lisa Calick, SPHR Are your business’s human resources starting to fall behind? Have you not reviewed HR policies and procedures in quite some time? Are you running a new startup? If you answered yes to any of these questions, you may need an HR assessment to ensure compliance with state and federal regulations, as well as reduce the risk of potential liabilities. When Should an HR Assessment Be Performed? Fundamentally, an HR assessment is an investigation of a company’s current practices,... read more.

Alleviate 1099 Reporting Stress

By Wiss, Posted in Advisory Services

By Felice Rudolph If your company works with nonemployee service providers “in the course of business,” you may be subject to 1099 reporting requirements. Failing to file these forms may result in penalties, so here’s what you need to know to keep your business in compliance. 1099 reporting requirements You’re required to send 1099-MISC forms to vendors when payments to them total $600 or more during the calendar year for: Services performed for your business by someone who&rsq... read more.

Refinancing Student Loans: Is It Worth It?

By Wiss, Posted in Advisory Services

By Rachel Kleiman A letter from a student loan refinancing company is placed on your desk. Have you wondered if refinancing is worth it or just a scam? Refinancing means taking on new debt with new terms in order to pay off older debt.  By refinancing, you can reduce monthly payments, secure a lower interest rate, and renegotiate the term of your loan.  Additionally, refinanced student debt is still student debt, meaning you will still receive a 1098-E for tax purposes.  Refinancing comes... read more.

Salary History Ban Takes Effect in NYC

By Wiss, Posted in Advisory Services

By Lisa Calick, SPHR If you’re a company based in, or with offices in, New York City, you should be aware of a new law that took effect on October 31st.  As of that date, it became illegal for public and private employers in New York City to inquire about an applicant’s salary history during any stage of the hiring process. This includes inquiries on employment applications, during interviews and while conducting background checks.  The law was introduced to even the wage gap between... read more.

Social Media: The New Handshake

By Wiss, Posted in Advisory Services

Why social media has become a critical way to attract and retain customers By Shelley Lazarescu How strong is your handshake? For years, a firm handshake has been a must-have to succeed in business, for the simple reason that most business contacts have historically been made in person. Companies’ representatives usually met, vetted and negotiated with prospects or customers over lunch, on the golf course and in a variety of other social settings. There will always be a place for face-to-face netw... read more.

Effective Records Retention Practices for Businesses

By Wiss, Posted in Advisory Services

By Paul Ursich Remember how things used to be? You’d carefully store all business contracts, insurance policies, tax records, purchase orders, invoices, banking statements and correspondence with vendors, customers and prospects. When your filing cabinets filled to capacity you’d buy more, move boxes of paperwork to a lonely storeroom or make a U-Haul delivery to off-site storage, never to be seen again. Things are better in the electronic age—supposedly. Now you can fill hard drives or... read more.