The Daily Record Announces 2023 Empowering Women Awards
The Daily Record has named GRF CPA and Advisors as a recipient of a 2023 Empowering Women Award. Empowering Women winners will be honored at The Daily Record’s Women’s Leadership Summit on Oct. 25 at the University of Maryland, Baltimore, 621 West Lombard Street in Baltimore.
SECURE 2.0 Act Requires 401(k) Plan Administration Changes for Employers
The 401(k) plan is the most popular employer-sponsored retirement plan in the United States. As of September 30, 2022, more than $6.3 trillion in assets were held in 401(k) accounts by more than 60 million active participants, as well as millions of former employees and retirees. So 401(k) plans are a key payroll responsibility for most businesses….
Essential stages of a third party risk management program
Developing and maintaining a third party risk management (TPRM) program can help to reduce the overall risk to your organization. What is TPRM? In short, it is the process of analyzing and mitigating risks associated with working relationships with outside entities. These parties can include everyone from contractors providing janitorial services to suppliers of a…
Four Things You Can Do Today to Improve Your Cybersecurity Posture
Cybersecurity is always changing and evolving as threats grow. Here are ideas that you can start on today that will help reduce your risk and improve your cybersecurity posture: 1. Require Multi-Factor Authentication Having multi-factor authentication (MFA) is essential for granting access to confidential data. It helps to reduce the risk of credential loss and…
I’m Often Asked, “What’s the Difference Between an ERP and a CRM?”
By Jim Norton, CPA, Principal, Accounting Technology Solutions It all starts to sound like alphabet soup after a while, but modern organizations are increasingly dependent upon cloud technology to get things done. In fact, remote work demands that data reside in the cloud so that work can be done anywhere and at any time. Over…
2023 National 8(a) Association Conference Trends
This premier annual conference provides education and supplier diversity networking for small businesses. This year’s event was held at the Hyatt Regency New Orleans from February 13 through 15 and was sold-out. Clearly, many small businesses are ready to travel again for in-person events! In addition to making introductions to federal agencies and prime contractors,…
Wakeup Call: Protecting your Nonprofit from the Banking Crisis
By Elinor Litwack, Partner, Outsourced Accounting & Advisory Services As the 2023 banking crisis unfolds with the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, all eyes are on what happens next. Fueled by the “blame game” and the media frenzy around vulnerabilities in the banking system, many businesses and consumers have lost…
Sage Intacct Financial Planning & Analysis
By Luis Rivera Financial Planning & Analysis (FP&A) plays a vital part in an organization’s ability to create accurate budgets and forecast trends. Companies remain consistently valuable and profitable with meticulous attention to financial planning and cash flow management. Many companies recognize the need FP&A, but have not been able to fully integrate this function…
5 Checklist Items for a More Effective Month End Process
By: Luis Rivera The end of the fiscal year is the most important closing period for most companies. To make this process smooth and efficient, organizations should have a well-planned month-end closing process in place. If done correctly, these closings can help your organization stay in good financial standing, as they allow you to track…
Moving Accounts Payable and Vendor Management Functions from Paper Trails to Information Superhighway
Another year has come to a close, and a new one starts. Trends and countless surveys are showing that forcing a return to 100% in-office work will not bode well for organizations. “The great resignation” is happening in part because talented team members know that they can find employee-first organizations who understand there’s no reason…