Entries by Rena Siddall

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How Detailed Does My Business Budget Need to Be?

We, at Red Granite and ORBA, frequently get asked this exact question by clients: “How detailed does my business budget need to be?” The easy preliminary answer when you’re creating your business budget is to be as detailed as possible because you are laying the groundwork for the upcoming year. Continue reading for our steps and advice on how detailed your business budget should be…

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Tax Reform: Changes to Meal and Entertainment Expenses

We want to alert business owners, clients and readers to an important change under the new tax reform commonly known as the Tax Cuts and Jobs Act. The Tax Cuts and Jobs Act (TCJA) enacted extensive changes to the deductibility of meals and entertainment (M&E) expenses for companies. Prior to the new tax reform, companies generally could deduct 50% of expenses for business-related meals & entertainment expenses. With the enactment of the TCJA, entertainment expenses paid or incurred after December 31, 2017 are no longer deductible.

Meet the Team: Akeem Ogunsegun

How did you end up working with Red Granite and ORBA? After working for a non-profit organization and small businesses for over 10 years, I was searching for a change where my skills would be utilized to the maximum and also challenge me. Read more about our “accountable” accounting manager Akeem – he said it first!

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The 5 Most Common Signs You Have Outgrown QuickBooks

We often get asked by growing companies whether they have outgrown QuickBooks. Let us preface this by saying when we get asked this, the honest answer is, “it depends.” It depends on your company size, it depends what industry you are in, it depends how quickly your company is growing… you get the picture. And another disclaimer: we love QuickBooks. We use it for plenty of our clients. But it does have it its limitations.

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5 Ways Omnichannel Retail Influences Your Accounting

When “omnichannel” was first mentioned, Marketers everywhere were dubbing it as the next buzzword marketing term. Yet, as the years have gone by, its prevalence has increased considerably throughout publications. In fact, recent stats suggest that today’s consumers use an average of almost six touch-points across different devices when researching and buying goods, suggesting merchants really do need to be on top of multiple buying journeys in order to truly tap into (and succeed) within the modern retail environment.

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Meet the Team: Monique Bonamer

How did you end up working with Red Granite and ORBA?
I worked in the office of a motorcycle retail dealership and wanted a change of pace and scenery. After 12 years of bank deposits, operational meetings, working through holidays… When I came across the ad online for an “Awesome Accounting Manager”, I knew they were talking about me. Read more about Monique Bonamer and her undercover skills… hint: it includes a stellar poker face.