Business
December 7, 2020

A real life story – Midwest Coast Brewing Company

By Casey Gillam – Sales Manager at CFO Plans Inc.   "Beer is proof that God loves us and wants us to be happy.” Whether Benjamin Franklin actually authored this…
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Customer Success
October 12, 2020

A real life story – Cleanshelf

By Casey Gillam – Sales Manager at CFO Plans Inc. Every company has a story. An idea that started in someone’s head, a vision that gained momentum, an answer to…
Gary Hewamadduma 0
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Customer Success
September 4, 2020

A real life story – Rasa Grill

By Casey Gillam – Sales Manager at CFO Plans Inc.   What’s more fulfilling than family, friends, and food? Not much, according to the founders of RASA Grill. Rahul Vinod and Sahil Rahman grew…
Gary Hewamadduma 0
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Uncategorized
August 21, 2020

Importance of internal controls for a growing company

By Ishara Kadawathe CBA, B.Sc. - Associate Controller, CFO Plans.   What is an internal control system? It is a series of actions that occur throughout an entity’s operations and…
Gary Hewamadduma 0
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Uncategorized
August 5, 2020

CFO Plans joins hands with Brex!

I am excited to announce the corporate partnership of CFO Plans with Brex. All of our new and existing clients will benefit in multiple ways. CFO Plans is known for managing…
Gary Hewamadduma 0
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Business
August 5, 2020

Deferred Revenue in SaaS

By Fizal Meera, Associate Controller – CFO Plans. (Note: This article is meant for non-accounting business professionals with minimal or no accounting knowledge)   You may have heard of prepaid…
Gary Hewamadduma 0
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Business
July 30, 2020

Fan of automation? Consider these before pushing the ‘go’​ button

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   Let me start by saying, I am all for automation. All entities in our portfolio are geared for…
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Testimonials
July 30, 2020

A real life story – Wheelhouse

By Casey Gillam – Sales Manager at CFO Plans Inc. Greg Baszucki, a serial tech entrepreneur, built Wheelhouse Enterprises to address several key needs in the business software industry –…
Gary Hewamadduma 0
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Testimonials
June 19, 2020

A real life story – Braintrust

By Casey Gillam - Sales Manager at CFO Plans Inc. Adam Jackson at Braintrust discovered CFO Plans through a mutual contact. He wasn't thinking too much about his company's accounting when he started…
Gary Hewamadduma 0
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Business
April 29, 2020

How to Choose the Right Partner for your Startup

By Brian Flynn   People should do what they’re good at. Coders should code. Hackers should hack. Ballers should ball. The thing is, launching a successful business requires doing a…
Gary Hewamadduma 0
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Business
April 18, 2020

Economic Order Quantity (EOQ)

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   The economic order quantity is the optimum quantity of an inventory item to be purchased per order in…
Gary Hewamadduma 0
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Uncategorized
April 10, 2020

Employee Retention Credit – CARES ACT

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses…
Gary Hewamadduma 0
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Business
March 30, 2020

CARES ACT: Applicable Summary for SMBs and their employees

Below is a summary of the provisions in the CARES Act, as applicable for small businesses and employees.   The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in…
Gary Hewamadduma 0
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Business
March 19, 2020

SBA Disaster Assistance in Response to the Coronavirus

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the…
Gary Hewamadduma 0
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Business
January 22, 2020

Inventory Control – An Overview

By Ashani Wick, Certified Business Accountant, FMAAT, B.Com.(Special)   Effective inventory control is all about having the right product and quantities in the right place, at the right time. Maintaining…
Gary Hewamadduma 0
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Processes
October 31, 2019

Accounting for Benefits (an Operational Accounting Overview)

By Lahiru Ganegoda   Typical Benefits Package of a US based company includes the following; Health Insurance Dental and Vision Insurance Life and Disability Insurance 401K While some companies provide…
Gary Hewamadduma 0
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Business
July 25, 2019

Start-up costs and Organizational costs

By Shahul Hameed Irfan ACMA, CPA, CGMA, B.Sc.(Hons)   The purpose of this blog article is to provide a general idea on start-up costs/ organizational costs and how to identify,…
Gary Hewamadduma 0
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Business
July 7, 2019

Accounting Recipe for Restaurants

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Finding the right formula for revenue, cost of goods sales (COGS), labor costs, promotional giveaways, controllable overheads and non-controllable…
Gary Hewamadduma 0
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Business
May 4, 2019

Invoice Factoring

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   Invoice factoring (AKA; invoice discounting, debtor financing, receivables factoring) is a great option for companies that need to…
Gary Hewamadduma 0
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Business
April 28, 2019

83(b) Election – Trick or Treat?

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   You are a founder of a company or a member of the founding team of employees. Company has…
Gary Hewamadduma 0
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Business
April 22, 2019

Should I issue 1099s for my payments?

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   All businesses have goods and services vendors. IRS mandates that all service-related vendor payments be reported on a…
Gary Hewamadduma 0
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Security
March 24, 2019

Data Security – The reality check

First off, the intention of this article is not to discuss the technical aspects of data security, but to touch on the perceptions of security, when it comes to remotely…
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Office
February 27, 2019

‘Office’ as we know it has already changed

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering   Up until the new millennium, having your own office room or a corner office was considered a success…
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Processes
February 20, 2019

Streamline your Accounts Payable process

Payments ‘going out’ of a business are never fun, both in terms of work involved around it and emotionally for a business owner. In an old school conventional office setting,…
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HR
December 24, 2018

Contractor VS Employee

If you are managing a business, cost savings are a top priority. When it comes to cost savings, labor expenses is probably at the top of the list. With ‘labor…
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Business
June 28, 2018

The 10 Most Important Lessons Learned from Selling Over 100 Companies

by Brian Flynn and Dimitri Steinberg, FounderPartners The two of us have sold over 100 businesses over the past 25+ years and we’ve learned many important lessons along the way. We’ve played…
Gary Hewamadduma 0
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