COVID-19 Services – Wichita, KS
The impact of the Coronavirus (COVID-19) emergency on Wichita individuals, families, organizations, and businesses has been challenging. The stay at home order combined with forced business closures implemented in Sedgwick County have not only impacted access to services and facilities but have also taken a steep toll on local businesses. The combination of reduced demand combined with a lack of revenue is forcing many companies to make difficult business decisions. Determining how to manage various expenses in light of dwindling revenue has left many with no other choice but to initiate terminations among other coping strategies. To help the situation, Congress has passed new legislation which includes access to new loan programs (Paycheck Protection Program, Economic Impact Disaster Loans, etc.), expanded tax incentives and credits, and additional unemployment benefits. This assistance is desperately needed by so many.
While businesses are focused on searching for new lines of credit, applying for federal loan programs, and finding new ways to manage expenses, it’s important not to forget about other opportunities. Tax incentives, workplace digitization, business communications and policies, compliance with new regulations, and cost-saving opportunities through outsourcing. To help solve this complex puzzle, ABBB offers numerous COVID-19 services designed to help Wichita businesses manage through the emergency.
Since the impact of the emergency differs by industry and company, our COVID-19 services are designed to provide the level of support for your situation.
- Cash-Flow Strategy – Refining the company’s approach to identify opportunities to increase funding through, vendor relationships, financing, and available state and national resource programs.
- Cloud Consulting – Digitize your existing paper financial processes so this critical function can be done from any location with internet access – payroll, accounts payable, accounts receivable, etc.
- Communication Strategies – We’ll help you determine what and how to share information with your customers, stakeholders, and employees.
- Comprehensive Tax Review –The CARES Act has changed the tax outlook for every industry. We’ll examine your business’ tax situation to determine where saving and incentive opportunities exist and help you to claim each.
- Contingency Planning – The COVID-19 emergency changes represent the first steps in overall recovery and return to “business as usual”. More than ever, it’s important for Wichita companies to develop a comprehensive contingency plan to ensure threats are identified and remediation plans put in place.
- M&A Consulting –Market conditions have shifted and will continue to in the coming months. To get the most for your Wichita business in a sale, you need to plan in advance to do everything to increase the value, and we can help identify ways to do that. Is the opportunity right for a merger or acquisition? Consider your options and what the future may look like – starting with a business valuation.
- Navigating Federal Government Resources – We’ll help you understand the programs available – including the Payroll Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) program – and ensure the proper paperwork is completed.
- Outsourced Accounting & Outsourced CFO/Controllership – Many need the advice of a seasoned accountant and CFO, but no longer have this resource internally due to COVID-19. Outsourcing your accounting and CFO/Controllership provides you with the benefits and expertise without having to hire someone full-time or go without. In addition, your outsourced CFO works remotely to get the job done in this unprecedented time.
- Outsourced Payroll – Keeping up with payroll legislation is complicated, but even more so in a COVID-19 environment where laws continue to shift the rules. Outsourcing ensures the timely processing of payroll, but also compliance with changing guidelines.
Contact Our Wichita Business Advisors
During this time of uncertainty, businesses often need assistance in managing the challenges and issues that present themselves at a lightning pace. Our team of seasoned business advisors can help navigate uncharted waters and position your business for success. If you have questions about our COVID-19 Business Services or need assistance with another issue, ABBB can help. For additional information click here to contact our COVID-19 service team.
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Adams, Brown, Beran & Ball provides outsourced accounting and CFO services to companies in Wichita (KS) and across Kansas. Please complete the form below and a member of our team will follow up with you shortly.