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Use Our Online Tool to Better Understand Government Funding Programs
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Access vital funding to help your business remain open, continue paying your employees, and recover from unplanned circumstances due to the COVID-19 pandemic.

Paychex has created an easy-to-use online tool that details the specific federal relief programs and refundable credits available through the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES). The tool includes helpful links to applications and a comparison chart of loan programs (Paycheck Protection Program and the Economic Injury Disaster Loan program) to help you address what would best meet the needs of your current circumstances.

Access the Tool

We recommend discussing these options with your accountant or trusted advisor to determine the best course of action to leverage the incentives available.

Paychex is actively working to help make the PPP loan application process simpler. If you’re a Paychex client, we’re creating a report and ensuring it reflects changes introduced April 2 by the federal government. To utilize the report, your business or your clients’ business must have run payroll with Paychex in 2019.

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The Advantages of Online Accounting Systems

Payment Processing
Article
12/31/2013

Online accounting software systems are rapidly evolving, giving business owners the ability to choose how and where they manage their finances. Whether at home or on-the-go, business owners are now able to execute administrative functions such as instantly viewing bank balances, tracking expenses, and sending invoices from the office.

There are many advantages to using an online accounting system including:

Efficiency – Transactions only need to be entered once. The software then updates the ledger and financial statements and reports can be generated with ease. Any adjustments or corrections are usually real-time and flow through the reports immediately.

Analysis – Even the most basic accounting software packages include a wide variety of standard reports that business owners can use to review the results of operations. For example, income and expense accounts can be reviewed on a monthly basis. Comparisons between the current year and prior year’s figures and percentages can be reviewed. Some online accounting packages also give the user the option to write reports or sort data in many ways to assist with company performance review and decision-making.

User-Friendly – Online accounting has become very user-friendly, giving business owners the opportunity to do it themselves with minimal accounting knowledge.

Security and Accuracy – Software packages include out-of-balance and posting error alerts, backup reminders, and passwords to restrict access.

Tips to consider when using accounting software:

Carefully choose the right software for your accounting abilities, size, type of business, and required functionality.

Don’t go it alone. Rely on an accounting professional or tax expert to review your accounts to ensure you have properly recorded transactions.

Routinely perform system backups and use anti-virus protection for your accounting system to avoid loss of information.

An online accounting system can help you manage your business by improving your recordkeeping processes and give you the tools you need to analyze business results and make sound financial decisions.

 

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.