Insights2018-05-18T10:34:43+00:00

Latest Insights

Dive into Sikich’s entrepreneurial thought leadership, for clarity on the recent trends affecting your business.

How to Correct Purchase Order Receipts in Dynamics 365

February 18th, 2019|Dynamics 365, Technology, Tips & Tricks|

In the day-to-day operations of a warehouse, incorrect transactions are a part of life. Recently, a colleague asked for my help on one of these scenarios, specifically correcting a purchase order receipt. After reviewing my notes and finding piecemeal answers

Why Do I Need Multifactor Authentication in Office 365? Isn’t a Password Enough?

February 12th, 2019|Office 365, Technology|

Just 8-10 years ago, if you had a business, you needed email. And if you needed email, you needed a Microsoft Exchange server. It was just the way the world was. When you had your own email server, that meant

Server Recovery Using StorageCraft HeadStart Restore

February 11th, 2019|Information Technology, Technology|

StorageCraft ImageManager provides several functionalities, including the ability to create an HSR (HeadStart Restore) job. An HSR job is used to start a restore operation before a disaster happens. An HSR job can significantly reduce server restore time when a

Using Live Migration to Move Virtual Machines to a New Host

February 8th, 2019|Information Technology, Technology|

Moving a Virtual Machine (VM) from one stand-alone Microsoft Hyper-V host server to another is a common practice. It is most often associated with an upgrade cycle where the old Hyper-V server is being replaced with new hardware and an

Is Your Private Information Protected from Phishing During Tax Season?

February 7th, 2019|Technology|

Whether you’re an individual or a person in a finance role such as accounts payable, accounts receivable, or payroll, you could be the target of phishing this tax season. Gone are the days of obvious spam messages filled with

How to Track Serial and Lot Assembly Items in NetSuite

February 5th, 2019|Manufacturing, NetSuite, Technology, Tips & Tricks|

NetSuite provides you with complete visibility into all of your different lot and serial numbers throughout your entire supply chain process. More specifically, the Lot Traceability SuiteSolution allows users to trace assembly lot items or component lot items all the way

Tax Considerations for Real Estate Investors: New Limitation on Interest Expense Deductions

February 5th, 2019|Tax|

How the Interest Expense Deduction Affects Real Estate Investors Under the Tax Cuts and Jobs Act, “TCJA,” one of the revenue generators was new IRC code section 163(j) which limits the ability of a business to deduct its interest

Other, Less Obvious Considerations for Calculating the Total Cost of Ownership for ERP

February 4th, 2019|Dynamics 365, ERP, Technology|

We've already covered all of the big costs a business needs to consider when calculating the Total Cost of Ownership for a new ERP solution. However, a full calculation for TCO is not complete without considering all of the less

Revenue Recognition for Contractors – Actually, It Will Affect You

January 31st, 2019|Accounting|

The impact of revenue recognition on contractors Over the last several months, our conversations with contractors about the new revenue recognition standard have typically started with their assertion that “it's not going to affect us.” By and large, they

Cost Considerations for Calculating Total Cost of Ownership for ERP Business Applications

January 30th, 2019|Dynamics 365, ERP, Technology|

As good a source as any for this purpose, Wikipedia defines Total Cost of Ownership (TCO) as a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. TCO, when incorporated

Employee Expense Reimbursement – Changes in Illinois Law

January 30th, 2019|Human Resources|

Effective January 1, 2019, the Illinois Wage Payment and Collection Act (IWPCA) now requires employers to reimburse employees for “all necessary expenditures and losses incurred within the employee’s scope of employment and directly related to services performed for the

Tax Alert for Contractors Doing Business in Indiana – New Excise Tax Replaces Property Tax on Heavy Rental Equipment

January 28th, 2019|Tax|

How the New Excise Tax Affects Contractors in Indiana Effective January 1, 2019, Indiana approved House Enrolled Act No. 1323 creating a new excise tax on heavy equipment rentals without operators at a rate equal to 2.25% of the

Creating Billing Rate Cards in NetSuite Charge-Based Billing Projects

January 28th, 2019|NetSuite|

Utilizing Billing Rate Cards can be a beneficial addition for any users in NetSuite who are already working with Billing Classes. If you currently use Billing Classes today without Rate Cards, you may notice that there is only a 1

Why Private Equity Firms Need to Include Cybersecurity in Their Due Diligence Process

January 25th, 2019|Security, Technology|

The threat of a cybersecurity breach is often overlooked in the chaos of an acquisition, despite the potential risk such breaches can have on the valuation of an organization. Private equity firms purchasing portfolio companies should conduct thorough cybersecurity due

Sikich M&A Disputes Roundtable Discussion

January 24th, 2019|Human Resources|

Download our Sikich Forensics Academy - M&A Disputes Roundtable Discussion recording to learn more about key considerations in M&A disputes and disputes involving private equity and portfolio companies, principals/managers and investors. M&A experts cover how to manage increasing regulatory burden

Sikich Series on Tax Reform: What to Expect this Tax Filing Season – Part 1: Individuals

January 24th, 2019|Audit and Tax, Tax|

You may recall about a year ago all the articles and published materials covering tax reform that Congress and President Trump enacted on December 22, 2017. As you might remember, 2018 is the first full year that this new

Troubleshooting Network Issues With Hyper-V Guest Virtual Servers

January 23rd, 2019|Information Technology, Technology|

Experiencing odd network issues with Hyper-V guest virtual servers is an old issue, but it is one I still occasionally see. It especially crops up on HPe Proliant Servers. What typically happens is that your Hyper-V guest virtual servers seem

Sikich Series on Tax Reform: IRS Issues Final Regulations for New 20% Deduction for Pass-through Businesses

January 22nd, 2019|Audit and Tax|

The IRS issued its final regulations on January 18, 2019 on the new 20% deduction for Qualified Business Income (“QBI”) for pass-through businesses (Section 199A). This new deduction was added as part of the “Tax Cuts and Jobs Act”

Tax Reform Opportunities for Private Equity Firms in the M&D Industry

January 22nd, 2019|Audit and Tax, Manufacturing, Tax|

The Tax Cuts and Jobs Act (TCJA) is a comprehensive tax bill impacting all manufacturing and distribution (M&D) companies, both large and small. TCJA offers significant tax cuts and tax rate reduction for businesses, applying to both C Corporations and

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