Implementing Telework for Employees

 

Businesses across the world are worried about having to close their doors as the COVID-19 pandemic spreads. However, for many businesses, there are other options. Not only can implementing telework for employees benefit your company right now, but it could help save you money for years to come. The good news is that it’s not that complicated. We’re breaking it down for you below.

 

How Telework for Employees Can Help You

Have you ever had an employee leave your company because they were moving to a different town or state? When a valued employee leaves and you suddenly find yourself needing to replace them, it can be devastating.

 

Allowing that person to telework means they can continue working for you long distance. Additionally, if they’re not too far, you can always do weekly or monthly in-person check-ins. You’ll save money on attempting to recruit and hire someone new and you’ll show your employees that you value hard work and dedication.

 

Additionally, many employees are willing to telework when they have colds or other minor illnesses. Giving them the tools to work remotely prevents germs from spreading around the office and causing other employees to have to call out sick.  

Create Ways to Connect

Most businesses are already using software for inter-office chat or client video conferencing. This software can easily be adapted to work for remote employees as well. Just because a person isn’t in the office doesn’t mean you can’t have a face-to-face chat with them. Options like Zoom, Google Hangouts, and Slack are making it easier to stay in touch and get work done.

 

If you’re requiring people to telework, it’s good practice to provide them with the technology they need to do it. Most people have the internet already, but providing a laptop or desktop and monitors is fairly standard. 

 

You’ll also want to make sure that the computers you provide have all the same software as in-office computers. The idea is for employees to have the same resources at home as they do in the office so they can continue doing their best work.

 

The good news is that you can write off both the hardware and software at the end of the year. In addition, Adobe is currently offering two months of free Adobe Creative Cloud to assist businesses that are implementing telework for employees. 

Stay Secure

One worry that many businesses owners have about setting up telework for employees is data security. There is a risk associated with remote work, especially if you don’t go through the proper channels to secure your information.

 

Working with your IT department or a local IT company can help, though. They can set you up with a VPN (virtual private network). This network allows employees to sign in from the computer that they’re using at home, but their internet connection will go through your secure network, just as if they’re in the office.

 

Even with this measure, you’re still going to want to go through some cybersecurity information with all employees before you allow them to telework. Your IT company should be able to help you out with this.

 

There’s no doubt that this is a time of uncertainty and stress for many, but with a little bit of adjusting, most businesses should be able to pivot and adapt to allow telework for employees. 

 

Please don’t hesitate to reach out to us with any questions. We are still available via phone and email for anything you may need. You can reach us at 410-764-3731 or on the website here

How a Bookkeeping Cleanup Can Help You Save Money

 

Many small business owners start out doing their own bookkeeping. For most, it makes sense at first. You’re working on very small margins and trying to figure out exactly what your business structure and strategy are going to look like. You’re often also trying to find vendors, figure out staffing, and working to create something brand new. 

 

If you’re a small business owner and recently went through your first or second tax season, it may have taken you a lot longer than you wanted to get through all of your books. The good news is that a bookkeeping cleanup can make next year easier and help you save more money in the meantime.

Get a Better Look at Your Company History

The best way to make informed decisions about your company’s future is to start by examining its past. You need to take a solid look at your expenditures as well as your income and make sure that everything matches up.

 

Understanding your financial history can help you answer critical questions like…

 

  • Are your clients paying on time?
  • Are your vendors over-charging you?
  • Are you undervaluing your products or services?
  • Have your credit cards been paid on time?
  • Do your earnings match your tax returns?

 

The more you understand about your cash flow, the better chance you have of turning a strong profit in the future. Updating this documentation on a regular schedule is the ideal way to keep track of everything but if you know you haven’t checked it in a while, it’s important to sit down and do a bookkeeping cleanup.

Identify Tax Break Opportunities

Small and medium-sized businesses have a variety of opportunities for tax write-offs, deductions, and even credits. However, if you aren’t keeping close track of all of your financial documents, tax time can end up being financially devastating.

 

As long as purchases took place within the last year, your bookkeeping cleanup can help you identify money saving opportunities so you can focus on putting the money you would have put towards taxes back into your business.

Pin Down Discrepancies

Nearly every company’s books have discrepancies. Human error is unavoidable. However, you’re a lot more likely to have large discrepancies if you’ve never done a bookkeeping cleanup before or if you don’t regularly review your company’s financials. 

 

These discrepancies have the potential to cost you thousands of dollars, especially if they show up on your invoicing, credit card, or bank statements. You may discover that you were never paid for a project or that you missed a credit card payment and suddenly owe late fees and are subject to a rate hike. Ultimately, you want to avoid any of these situations.

Get Help with Your Bookkeeping Cleanup

Taking the time to go back through all of your books takes away from opportunities to build your business, but that doesn’t mean you should ignore it. Instead, you should reach out to a professional who knows exactly what they’re looking for.

 

At PL Consulting, we have a tried and true process for bookkeeping cleanup. We’ll tailor this to your organization’s needs so you can get started saving money right away. Our team is dedicated to helping you come up with a plan that will work for you — and we won’t stop until you’re completely satisfied. Questions on how we can help? Give us a call today at 410-764-3731 or contact us here