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.

Sikich Series on Tax Reform: Impact of the IRS Guidance for Businesses Providing Employee Parking Benefits

February 27th, 2019|Tax|

Changes made to parking benefits provided by employers The adage goes “there is no such thing as a free lunch.” Perhaps this could be expanded now to be “there’s no such thing as free parking.” The recently enacted “Tax

How to Set Up Floor Stock in Dynamics 365 for Finance and Operations

February 26th, 2019|Dynamics 365, Dynamics 365 for Finance and Operations, Technology|

Floor stock is defined as items that are used in large quantities and have a low per unit cost. In many cases, we literally make sure this stock is always available on the manufacturing floor and does not have to

Utilizing Out-of-Band Management for Server and Network Hardware

February 25th, 2019|Information Technology, Technology|

Out-of-band management (OOBM) of network devices is nothing new, but it can be an extremely powerful tool to assist when something needs to be modified on a server or a piece of networking hardware. Utilizing OOBM will allow you to

How to Close Project WBS Tasks in D365 for Finance and Operations

February 20th, 2019|Dynamics 365, Dynamics 365 for Finance and Operations, Technology|

The Project WBS has a tracking and a costing view that show progress of hours against the budget. But at some point, we also have to be able to declare a WBS task completed. That is the moment that the

Human Resources Technology: Aligning with Organizational Goals

February 20th, 2019|Human Resources|

Why You Need to Integrate people, processes and technologies and aligning them with key business outcomes Implementing human resources (HR) technology in your organization can significantly increase your company’s ability to reach and exceed corporate goals. The alignment with your corporate goals is

The $99 Logo: Why You Shouldn’t Cut Corners With A Cheap Logo Design

February 19th, 2019|Marketing|

The importance of a logo design Whether starting a new business or updating an established brand, having a logo to visually represent your company is an important business tool. Your logo is the first impression potential customers have –

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

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