FP&A
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UK Vat on sales invoices - future dated
Hi We issue sales invoices for annual software support and issue them about 45 days in advance of the renewal date. Can we issue them with an invoice date of the renewal date (ie post-dated) rather than issue date? So for example, sales invoice produced and issued to customer today 18th July but wi…
1
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Accounting for royalty financing
My company is considering obtaining royalty base financing to raise capital. This type of funding is not debt financing nor equity financing as there is no dilution of equity. The lender will give us money in tranches & in return receive a percentage of revenue. The amount they receive will be …
2
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Management reporting platform and hospital KPI
Hi all, I'd like to change the way we do reporting and is considering Qlik. Have you had experience with this company/platform? If yes, please advice me (quality, customer service, ease of use, price, features etc. or recommend some alternative. Also, can you suggest what good KPIs should be includ…
2
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Invoice dates - Accrual vs actual
My company uses the accrual method of accounting. Up until working here, I had always worked with the cash basis. My question is when entering invoices, do I use the date on the invoice, or the last date that the invoice covers. We do have bills that we pay "in advance" like cell phone, but then ot…
1
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Tax obligations for UK company with US subsidiary
US tax obligation. I need help understanding tax filing and tax liability obligations for a small UK listed company with a US sales office. The company structure is a parent group with a UK operating subsidiary and a US sales office. The majority of sales are to US companies however as the US regis…
1
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Cash Basis Tax Payers
Are there any cash basis tax payers out there who prepare their internal financials on an GAAP/Accrual basis? If so, how do you treat capitalized software for tax purposes?
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Expense Reimbursement Wait Times
What is a reasonable time frame for an employer to reimburse expenses? We are required to submit expenses within 24 hours of trip completion, but I have been waiting over 30 days for payment Company is over 1,000 employees.
15
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Tax and financial reporting in year of sale of subsidiary
We are selling a 100% owned subsidiary (sale of 100% of the stock). What tax and financial reporting implications are there? I assume we need to report operating results in our consolidated financials, and that we will need to file a short-period tax return for results through the sale date. Correc…
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What would you do?
There's an article on Yahoo Style "Interns Get Fired En Masse After Protesting Dress Code at Work" https://www.yahoo.com/style/interns-get-fired-en-masse-after-protesting-dress-201632030.html about a group of interns who summarily get fired for complaing about the dress code in a letter to manageme…
8
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Typical Payment Terms - Clothing Retailers & Wholesalers.
Can the community please share what they see as the most common payment terms across their customer and supplier base from the perspective of clothing retailers. We have done some benchmarking (inspecting available financials and asking around). I just came out of a meeting where one supplier said …
1
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Annual review tied to pay/bonus
Our annual review process wrapped up with discussion on how he person had met KPI's that helped lead to a monthly bonus program. Business results have not allowed for a bonus to be paid in over a year now. The annual review has not been changed. When companies face a pay freeze or bonus freeze how …
9
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PIA customers-
can we send an invoice to a paid in advance customer(PIA), and book it as .... AR Dr unearned revenue Cr once we receive payment we will book... Cash Dr AR Cr then when we are ready to recognize revenue, we will book Unearned revenue Dr Revenue Cr Note : we are stream revenue since it is software r…
1
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Ecommerce Sales Tax
We are en e-commerce company & will be collecting sales tax from customers in nearly all 50 states. The software we're using is approx $25K per year. Should this expense be treated as COGS or G&A?
1
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amortization of multiyear business contract
For small company which received five year approx 500k business contract, is it possible to amortize this contract? We have started to provide our services, and already got paid approx 50K. And around 20k we already billed. So far we were showing as a business receipts as and when received. This me…
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Thoughts on Credit Card Statements as Back Up for Expense Reports Instead of Original Detailed Receipts
Worked at a previous company that would not allow this. You could use the statement if you lost a receipt and wrote a memo to accompany the expense report. New company I am at, the Corp Controller was okay with the employees turning in a detailed expense report, but the receipts could be the credit…
6
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Income and Cash Flow Forecasting Tools
I’ve used Excel extensively over the years for income and cash flow forecasting but it has a number of shortcomings – notably that balance sheet changes are not automatically reflected and Excel links can be broken inadvertently. I’m aware of a couple of enterprise solutions such as Host Analytics …
4
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Corporate Planning vs Strategic Planning or Business Planning
Are these all just different terms for the same thing are coporte planning vs strategic planning distinctly different activities?
10
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KPIs for the Accounting Department & Finance Department
We are in the process of implementing Performance Boards in the Finance / Accounting department to document, track and drive performance. Initially, we discussed tracking on a daily basis: # invoices processed (payables), # errors (payables), $ receivables collected, # of collection calls (credit…
42
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Monthly Financial Reporting For Board Of Directors
Does anybody have any suggestions on how to present the monthly financials to the board without getting too much into details? Any thoughts on more analysis, variance explanations, etc. There is talk about using dashboards which seem to mostly graphs but do you think the board would appreciate tha…
21
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Notifying Customers of change of bank account info?
We accept ACH payments for invoices. We recently changed bank accounts, so I'd like to send a mass update to customers who have previously paid via ACH so they know to change our bank details in their system. Anyone done this before and/or anyone have any thoughts on format or doing this in the mos…
2
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Now that Britain is leaving the EU...
What effect will you likely see in your business and business in general in the next 30, 60,90 days? What about the next 1-5 years? What about the EU and England herself?
2
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What is the role of finance in corporate reporting?
Does the finance take a leading role in corporate reporting? What are the areas where the fianace chief is not involved or responsible for?
9
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What is the best cloud based KPI dashboard tool?
We're a fast growing tech start-up and want a tool that pulls our financial, salesforce, and analytics data. We'd like the data real time and in the cloud so we can give access to execs, investors, and some employees (permission based). I'm 1.5 weeks into a free trial of KPIdashboard. They're pr…
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Nuanced view of Maximization of Shareholder Value / Profits
I just happened to stumble on this article. As Finance professionals, I think it is important that we have a contextual view of our objectives. "The idea is when we say 'maximize profits,' we mean maximize the present discounted value of future profits, it's not just profit today,"..... there lies …
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