• by Kevin Brager
  • onNovember 21, 2020
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Four Signs Your Government Contracting Business has Outgrown QuickBooks

QuickBooks is the most widely used accounting software for small businesses, and for good reason. QuickBooks is easy and efficient to use, it gets constant upgrades and patches to improve functionality, and can be a very powerful tool if used properly. However, if you are a government contractor focused on growth, you will likely reach […]

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  • by Kevin Brager
  • onNovember 2, 2020
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Passing your Pre-Award Survey – Segregating Direct & Indirect Costs

Over the past few years, we have seen a dramatic increase in the number of solicitations requiring a contractor to have an “approved accounting system”. A recent example is the draft Request-For-Proposal for the CIO-SP4 Contract, which requires contractors to maintain an adequate accounting system. We have also seen more and more large prime contractors […]

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5 Business Risks Your Company Should Plan For

It’s no surprise that COVID-19 has severely affected the business community among many others. While there have been major recessions (e.g. the financial crisis of 2007-2008), this pandemic has been the most crippling to date. The impact has been wide-ranging; some companies were more prepared for drastic changes like indefinite remote work, while others have […]

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  • Accounting
  • by Kevin Brager
  • onSeptember 28, 2020
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How to Create an Effective Month-Close Process

You’ve worked hard all month processing transactions and invoicing customers, and now it’s time to produce the end result: a set of financial statements that management can rely on. Performing this month-close process is one of the most important (and most time-sensitive) functions of an accounting department, mainly involving higher-level accounting and finance personnel. With […]

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Does Your Business Need an External Audit?

A common question we receive at LRZ Consulting is whether a company should have their finances externally audited. This involves an independent examination of a business’ financial statements (typically by a CPA firm), determining if they’re represented fairly and accurately. In simpler terms, it’s a stamp of approval. It also typically allows parties to feel […]

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Online Bill Payment Systems (part 2)

In the prequel to this post, we discussed traditional accounts payable and bill payment systems as well as their downsides. For part two, we’ll highlight an effective system for small businesses as well as common concerns people have when considering implementation. This example will follow one accounting system (QuickBooks) and one bill payment system (Bill.com), […]

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  • Friday Fun
  • by Kevin Brager
  • onSeptember 4, 2020
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4 Tips for Working Remotely

With the unfortunate rise of the COVID-19 pandemic, more employees are working from home than ever before. Since we’ve always operated this way at LRZ, here are some tips for working remotely that have been helpful for us over the years. Invest in a comfortable setup Can’t stress this one enough. If you’re working eight […]

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Turning data into information you can use

By Andrea Dunathan of Dunathan Consulting In a recent conversation with a fellow consultant (Cathy Bamji of https://www.liferoading.com/), Cathy used a phrase that stuck with me: turning data into information. It’s surprisingly easy for businesses to accumulate data of all sorts: customer contact data website analytics data financial data employee engagement data and so on […]

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