Whittaker & Company is here to help businesses affected by the COVID-19 crisis. The Association of International Certified Professional Accountants (AICPA) has released several useful resources related to programs the Small Business Administration (SBA) is administering to assist businesses during this challenging time. In the links below you will find the AICPA’s tools as well as a number of other important resources.

Navigating the Paycheck Protection Program (“PPP”) within the CARES Act

The Association of International Certified Professional Accountants (AICPA) has released several useful resources related to programs the Small Business Administration (SBA) is administering to assist businesses during this challenging time. In the links below you will find the AICPA’s tools as well as a number of other important resources:

Navigating the Employee/Employer Relationship

Effective April 1, 2020, there have been updates and changes to Emergency Paid Leave (“EPL”) and the Emergency Medical Family Leave Act (“EMFLA”). We have provided resources below to help you navigate EPL and the EMFLA:

Navigating cash flow during times of uncertainty

During our weekly leadership calls on April 1st and April 8th we covered the need to project weekly cash flow for your business. We understand that many businesses have not recently had the need to project weekly cash flow however our current state creates the need. We have prepared a simple cash flow template that you can download and begin working with to project your weekly cash flow. Use the following as a background when you work through the template:

  • Attempt to populate 2-4 weeks prior cash inflow/outflow to gain an understanding of your cash flows going forward.
  • Take broad strokes. This is as much of an art as it is a science. You will be able to project items like payroll and fixed overhead much easier than variable expenses.
  • Projecting your cash inflows, primarily from customer payments, may be difficult. Start with your accounts receivable aging reports and determine which customers pay on what cycles. Populate the collections with your best estimates and work from there.

We have worked with several clients to prepare working cash flow models. If you would like help creating and managing your cash flow projection, please give us a call.

 

We will continue to post resources such as these as new information becomes available. Please reach out to us if you have any questions about these resources or other business challenges.

WHY WHITTAKER?

Tax returns, financial statements, IRS communications and similar items are vital to address and process, but they should not be the focal point. Think of these as tasks to get to the real work, which is providing you the information you need and an interchange of ideas to move you forward. The goal is to help you implement your strategies and vision. This is what we do!