Appropriate Utilization and Tracking of Bad Debts for Uncollected Customer Sales Tax

Cash flow continues to be a major concern for all businesses during the COVID-19 pandemic and beyond. Business owners and corporate leadership are challenged with closely monitoring costs, possibly dancing through the inconsistencies of government loan programs, all the while hoping not to make the unfortunate, and ultimately unavoidable, decision of cutting staff. As accounting firms aim to leverage the opportunity to engrain themselves further as trusted business advisors, GBQ is currently assisting a number of companies with cash conservation strategies that many businesses previously overlooked, or failed to even consider.

Source: gbq.com

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