SponsorsJustworks: https://cloudaccountingpodcast.promo/justworksAccountingSuite: https://cloudaccountingpodcast.promo/asuiteBQE Core: http://cloudaccountingpodcast.promo/coreShow Notes03:34 - Get Down with PPP - YouTube06:24 - Bankers Rebuke S.B.A. as Loan System Crashes in Flood of Applications - NYTimes08:08 - SBA, Treasury ban use of RPA to submit PPP loans - Journal of Accountancy09:03 - Mnuchin sends top deputy to fix small-business loan mess - Politico09:46 - Steven Mnuchin goes after private schools with big endowments - Twitter12:00 - Update: Latest in regulations and government changes prompted by COVID-19 - Armanino12:40 - Mnuchin: All PPP Loan Recipients Will Face Audits - PYMNTS.comJustice Department investigating possible PPP application fraud - CNBC13:56 - IRS: Companies who receive PPP loans will not qualify for tax deductions - The Hill17:32 - Hotelier’s Push for $126 Million in Small-Business Aid Draws Scrutiny - NYTimes21:47 - Gene Marks says blame banks and big businesses:Shake Shack handed back its $10m loan. But that's no reason to applaud | Gene Marks - The GuardianAmerica's big banks should be ashamed of themselves - The Hill25:17 - AICPA makes PPP loan forgiveness recommendations - Journal of Accountancy25:53 - AICPA challenging nondeductibility of PPP-related expenses - Journal of Accountancy28:05 - SMBSNew Data: Separating The PPP Haves, Have Nots and Don’t Wants - PYMNTS.com28:40 - More PPP Discussion from Episode 17229:00 - PPP Is No Panacea, But Is Crucial To SMB Outlook - PYMNTS31:48 - Fed Turns To Banks For Feedback On Main Street Lending Program - PYMNTS.com35:00 - BREAKING NEWS: Windows Update Causing QuickBooks to Crash - Insightful AccountantGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsHector Garcia - How to Make Video Tutorials: http://www.hectorgarcia.com/tutorial ClientHub: https://clienthub.appAccounting Salon - SALONv:  https://accountingsalon.com/Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptWouldn't it be great if your small business clients could offer big company benefits to their employees, plus automated payroll, compliance support and HR tools? By using Justworks, you can offer these four essential services to your clients via one simple platform. Stay tuned to hear more from our sponsor, Justworks, later in the episode. [00:01:13] PPP, how can I explain it? I hope you will obtain it. If you listen, I will show you how to claim it. It's a program that they made for a virus called Corona. They give you free money 'cause you gotta stay at homa. The first P's for Paycheck. You may think you know what that is. Boss gives you moolah, shekels, lettuce, scratch, or cabbage. That part is true, but what if you are self-employed? Profit counts as payroll, so your biz don’t get destroyed. The other P’s Protection,...

Purchase Controller's Code: The Secret Formula to a Successful Career in Finance on Kindle: https://www.amazon.com/dp/B0872JRBF4/ref=cm_sw_r_tw_dp_U_x_n.pPEbHQAPR1PConnect With … Mike Whitmire on Linkedin: https://www.linkedin.com/in/michaelcwhitmire/FloQast on the web: https://floqast.com/Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on Podchaser, and do some good at the same time!  EXTENDED to April 30! For more information, go here: https://www.podchaser.com/articles/community/reviews-for-charityNeed Accounting Conference Info? Check out our new website - accountingconferences.comSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastTranscriptMike Whitmire: [00:00:02] If I had asked for something already, and I had to go back and ask for it - it was the second or third time - I would generally go the puppy-dog-eyes route and just look worn down and look terrible and just be like, "Hey, I'm really ... I'm exhausted. I was just trying to get the stuff done. Would you mind sending it over so I can go home a little bit earlier tonight?" That pity approach worked every time. It was beautiful. So, if you're an auditor, if someone's not getting you stuff, instead of getting mad about it, and trying to get angry about it, and make them do it, just be pathetic; then they'll help you out. Blake Oliver: [00:00:40] Welcome to The Cloud Accounting Podcast. I'm Blake Oliver. David Leary: [00:00:44] And I'm David Leary. Mike Whitmire: [00:00:45] And I'm Mike Whitmire, co-founder, and CEO of FloQast.  Blake Oliver: [00:00:47] Mike, thanks so much for joining us. Really excited to have you here. David, I don't know, have you ever met Mike at any these conferences we've been at? David Leary: [00:00:55] I don't think so. I think maybe when we went to Sage's Intacct, I think the FloQast team was there, but I don't know if he was there, or maybe he was, and you pointed at him from far away. Mike Whitmire: [00:01:04] Yeah. That conference has gotten wild for FloQast, and for me, as well, so I wouldn't be too shocked if I was just running around. Blake Oliver: [00:01:11] So, David, Mike is the CEO at FloQast, a developer of close-management software, where I had the privilege of working for a couple of years before my current gig. He started his career as an auditor at Ernst & Young, made it to Senior, and then left to join Cornerstone OnDemand, a year before they IPOed. So, went through that whole IPO process as an in-house accountant and then spent, I think it was, three years there, Mike? Then you went off to start FloQast? Is that right?  Mike Whitmire: [00:01:43] Yep. Yeah, just about three years. Blake Oliver: [00:01:46] I wanna learn more about that; talk about that. But first, given everything that's going on, how's it going? How are you doing? Mike Whitmire: [00:01:54] Doing well. For those of you listening in the future, we are currently quarantined as a result of COVID-19. I think we're, what, six weeks into this quarantine now? Time's kind of blurring together. It's getting tough. But, yeah, it's been really nice, obviously, with all the tools we have available to us now, the transition to the company working from home wasn't the craziest thing in the world. [00:02:18] I think the bigger one is, obviously, you look across what's going on in the world, and the economic impact is top of mind for me, running the business. Then, also, the impact this is having on people just emotionally, and mentally, you can tell it's kinda starting to catch up to people. In a lot of the conversations I've been having, that's been a pretty top-of-mind item, right now. [00:02:38] Fortunately, for us, we haven't had to make drastic decisions, like do big layoffs, or anything like that. We were lucky enough to have closed our Series C round of about 40 million bucks just two months before all of this started falling apart, so I feel really fortunate that we're in a position where we don't have to do aggressive layoffs or anything like that, like a lot of other companies are looking at. Blake Oliver: [00:03:01] How is that going, transitioning to remote? Because I recall, when I was working at FloQast, everybody was in the office together in L.A., which was really nice in a lotta ways. Mike Whitmire: [00:03:12] Yeah, the founders, and I, we're big proponents of being in the office. I think, just first and foremost, we just enjoy it. We enjoy being around the people, and we do see the benefits of being near each other. But I think because of the type of company we are - we're a SaaS company - we're very open to technology; we have purchased a ton of software over the years, we were almost ready to go to work from home. So, from a tech perspective, there really was no transition. We just flipped the switch, and everyone was able to still do their job. [00:03:42] I think the bigger one was it was adjusting culturally. It's just very- it's very different. I think the group that I was most c...

SponsorsBill.com: https://cloudaccountingpodcast.promo/billAccountingSuite: https://cloudaccountingpodcast.promo/asuiteBQE Core: http://cloudaccountingpodcast.promo/coreLinks03:45 - I’ll be right back. How to protect your energy during Zoom meetings - Fast Company06:03 - The Best Wi-Fi Mesh-Networking Kits - The WirecutterGoogle Wifi - Google08:06 - Impact of COVID-19: State of Accountants Report - SmartVaultSurvey Shows Impact of COVID-19 on the Accounting Profession - CPA Practice Advisor22:25 - Banks Gave Richest Clients ‘Concierge Treatment’ for Pandemic Aid - NYTimes23:55 - Public Companies Receiving SBA PPP Loans Under the CARES Act - FactSquared31:56 - She got a forgivable loan. Her employees hate her for it. - CNBC32:05 - Opinion | Our Restaurants Can’t Reopen Until August - WSJ33:48 - Millions of People Face Stimulus Check Delays for a Strange Reason: They Are Poor - Apple News35:57 - China Rolls Out Pilot Test of Digital Currency - WSJ36:15 - How the pandemic makes the case for a “public Venmo” - MIT Technology Review40:04 - SBA data breach could be worrying sign of things to come - Business Insider41:35 - IRS braces for onslaught of coronavirus stimulus scams - Accounting Today41:58 - Scammers are using fake coronavirus stimulus payment sites to steal your money - CNBC45:32 - COVID-19 Bookkeeping Part 1: How to Properly Record PPP Loans and Spending - AccountingWEB45:58 - Google Sheets PPP tracking templates from listeners:Jacob Schroeder his firm Ascend Consulting: https://twitter.com/JacobBSchroeder/status/1252307888552452098Mathew May of Acuity: https://twitter.com/Acuity_co/status/125343956914973491949:32 - What's happening to my Expensify bill? - Expensify Community55:24 - Art of Accounting: Deciding who to let go - Accounting TodayGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040.Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on Podchaser, and do some good at the same time!  EXTENDED to April 30! For more information, go here: https://www.podchaser.com/articles/community/reviews-for-charityNeed Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsCloud Accounting Summit presented by Jetpack Workflow - https://go.jetpackworkflow.com/cloudaccountingsummit/Hector Garcia - How to Make Video Tutorials: http://www.hectorgarcia.com/tutorial ClientHub: https://clienthub.appAccounting Salon - SALONv:  https://accountingsalon.com/Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptClients are looking for trusted advice and a sense of stability as they navigate the new normal, and by using Bill.com, accounting firms can free up more time for valuable strategic advisory services by helping clients shift their accounts-payable process online. Stay tuned t...

SponsorsSmartBooks Genie: https://cloudaccountingpodcast.promo/genieAccountingSuite: https://cloudaccountingpodcast.promo/asuiteBQE Core: http://cloudaccountingpodcast.promo/coreShow Notes03:09 - SBA Paycheck Protection Program Report https://www.sba.gov/document/report--paycheck-protection-program-report - SBA05:14 - Paycheck Protection Program Stats https://pppstats.info/ COVID Loan Tracker https://www.covidloantracker.com 06:17 - According to the JPMorgan Chase Institute, about half of all small businesses have a cash safety net worth less than 15 days. https://institute.jpmorganchase.com/institute/research/small-business/small-business-cash-liquidity-in-25-metro-areas - JPMorgan Chase07:31 - Marco Rubio on Chase, via Twitter https://twitter.com/marcorubio/status/1250122282703433733 - Twitter15:15 - Full interview with Alan Rosen on The Path Forward https://www.youtube.com/watch?v=f6XLyeX8-Mw&feature=share - YouTube19:26 - Finance app use spies with pandemic https://bankinnovation.net/allposts/biz-lines/retail/finance-app-use-spikes-with-pandemic/ - Bank Innovation20:40 - SBA Paycheck Protection Program Report https://www.sba.gov/document/report--paycheck-protection-program-report - SBA28:16  - Chart Shows which States Received the Most PPP Loans  https://www.cpapracticeadvisor.com/small-business/news/21134380/chart-shows-which-states-received-the-most-ppp-loans - CPA Practice Advisor29:12 - Millionaire White House economic adviser Larry Kudlow says his WIFE is getting a small-business bailout because she is an artist whose $20,000-a-portrait business is struggling https://www.dailymail.co.uk/news/article-8200647/Larry-Kudlow-says-WIFE-getting-small-business-bailout.html - Daily Mail32:17 - The full episode with Sabrina Parsons, and Michael Ly - Navigating the SBA Paycheck Protection Program https://www.cloudaccountingpodcast.com/16836:42 - Get My Payment – IRS stimulus-tracking tool https://www.irs.gov/coronavirus/get-my-payment - IRS.gov 41:29 - More on Accounting Firm Layoffs at Going Concern https://goingconcern.com/category/firm-watch/42:04 - Federal Reserve takes additional actions to provide up to $2.3 trillion in loans to support the economy https://www.federalreserve.gov/newsevents/pressreleases/monetary20200409a.htm - Federal Reserve42:27 - Correction from Ep. 169: It was Bird, not Lime! Sorry! "It Felt Like a Black Mirror Episode' The Inside Account of How Bird Laid off 406 People in Two Minutes via a Zoom Webinar" https://dot.la/bird-layoffs-meeting-story-2645612465.html - dot.LA43:01 - 8 Signs You are Going to be Laid off https://www.podbean.com/media/share/dir-tsq43-89a5438?utm_campaign=w_share_ep&utm_medium=dlink&utm_source=w_share - PodBean44:19 Microsoft announces Money in Excel powered by Plaid https://blog.plaid.com/microsoft-announcement/ - Plaid44:35 - Tiller Money https://www.tillerhq.com/how-tiller-works/48:09 What if No one Pays Rent? https://www.npr.org/2020/04/08/830237502/episode-989-what-if-no-one-pays-rent - NPR55:03 David's List of Top 10 Cloud Accounting Podcast Episodes https://www.podchaser.com/lists/top-10-cloud-accounting-podcast-episodes-of-2019-107a4PkuTm - Podchaser Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040.Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on Podchaser, and do some good at the same time!  EXTENDED to April 30! For more information, go here: https://www.podchaser.com/articles/community/reviews-for-charity Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastC...

SponsorsRelay Finacial: https://cloudaccountingpodcast.promo/relayClockShark: https://cloudaccountingpodcast.promo/clocksharkBQE Core: http://cloudaccountingpodcast.promo/coreLinksAICPA statementsAICPA plan to use payroll processors [press release update]Fees on PPP loan prep [press release]Statements from the administration on PPP processing and/or disbursements:VP Pence on 4/7 saying 71B has been disbursedKevin McCarthy on 4/8 on Fox News saying we got 70B out in two days and “this has been a very successful program when you look on every angle”Mnuchin said on 3/31 that “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day.”ResearchAccording to the JPMorgan Chase Institute, about half of all small businesses have a cash safety net worth less than 15 days: https://institute.jpmorganchase.com/institute/research/small-business/small-business-cash-liquidity-in-25-metro-areasConnect With our GuestsErik Asgeirsson, CEO at CPA.comMark Koziel, EVP of Firm Services at AICPAGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on Podchaser, and do some good at the same time!  EXTENDED to April 30! For more information, go here: https://www.podchaser.com/articles/community/reviews-for-charityNeed Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsHector Garcia - How to Make Video Tutorials: http://www.hectorgarcia.com/tutorial ClientHub: https://clienthub.appAccounting Salon - SALONv:  https://accountingsalon.com/Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptDue to the COVID-19 pandemic, it's likely that almost all the banks in your area are closed, blocking you from opening any new accounts for your clients. Wouldn't it be great if you could open a new business bank account, 100-percent online, without having to go to a physical bank branch? Stay tuned to hear more from our sponsor, Relay Financial, later in the episode. Erik Asgeirsson: [00:00:20] Your poll is absolutely accurate. If, actually, you'd asked me what percentage, I would've guessed below five percent because I think it probably is below five percent, right now. There's very few banks that have started distributing funds. There are some that have ...____________________This episode of The Cloud Accounting Podcast is sponsored by ClockShark. Back in October of 2013, I became ClockShark's first Twitter follower. Today, ClockShark has grown into a highly rated and very-much-loved time-tracking app that is now used by over 5,000 small businesses globally. With features like crew tracking, scheduling, overtime notifications, routes, geofencing locations, job costing, budgeting, and reporting, ClockShark has built a robust mobile time-tracking app to handle the unique challenges that face your mobile workforce clients. Their technology has been helpful as their clients work through the COVID-19 pandemic. Your clients will need accurate records of their expenses, and losses, and technology like ClockShark helps. With ClockShark, your clients can keep accurate records, like paid time off, and other important data to provide the necessary proof for CARES, and FFCRA Acts' benefits. This lets them get straight back to work without too much disruption after the pandemic has passed. ClockShark's standard plan is just $6 a month per employee. Head over to cloudaccountingpodcast.promo/clockshark. That is Cloud Accounting Podcast dot promo forward slash C-L-O-C-K-S-H-A-R-K. ____________________This episode of The Cloud Accounting Podcast is sponsored by BQE Core. As firms everywhere are positioning themselves to work remotely, BQE Software is committed to supporting you and your employees during this critical time. BQE's Cor...

Get to Know Heather SmithHeather SmithCloud Stories PodcastGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040.Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on Podchaser, and do some good at the same time!  EXTENDED to April 30! For more information, go here: https://www.podchaser.com/articles/community/reviews-for-charityNeed Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsGo here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptBlake Oliver: [00:00:04] Hey, everybody, Blake, here. Last month, David and I put out a call to all of our listeners to give us a call. We set up a Google Voice number that you could dial and leave a message. One of my favorite people, Heather Smith, heard that and sent us a message. So, the following is an update from Heather Smith on the state of COVID-19, down in Australia. She's based in Brisbane. Heather is the host of the popular podcast, Cloud Stories. So, if you haven't subscribed, definitely check that out. Search 'Cloud Stories, Heather Smith,' and give it a listen! I hope you enjoy this update from Heather Smith. If you want to leave us a message, you can dial us. Call (202) 695-1040 and leave a message. We'll take a listen, and maybe we'll even play it on the air. Now, over to Heather Smith. Heather Smith: [00:01:05] Hey, Blake, David, and The Cloud Accounting Podcast listeners, it's Heather Smith, here. I'm dialing in from Brisbane, Australia. For us here in Australia, COVID-19 is coming off the back of the unimaginably terrible bushfires. We had over 11,000 bushfires burning 5.4 million hectares of land, killing over a billion animals. As a country, Australians were quite frazzled, recovering from these bushfires, when the coronavirus started emerging. [00:01:33] Here are some snippets about what's been happening here. There have been measures limiting interaction, which have gradually become more restrictive through the month of March. From midnight tonight, 30th of March, indoor and outdoor meetings are limited to two people, with some exceptions, and on-the-spot fines enforcing them. Plus, many states have closed their borders. Federal Parliament has passed two packages worth over $17 billion in a response to the outbreak of the virus; plus, individual states have been announcing their own packages. [00:02:06] Some of these stimulus packages are tied into what the business will report to the tax office, so what they will report; not what they have, what they will report. So, they're somewhat open to manipulation. In simple terms, the higher the payroll reported, the higher the stimulus received. While I'm sure anomalies will be investigated, you can imagine businesses are trying to optimize the outcome. There'll be a moratorium on renters being evicted for the next six months. They're also looking at that for commercial renters, too. Unfortunately, lots of staff are being laid off. Qantas laid off 20,000 people. Virgin Australia laid off 8,000 people.  [00:02:47] Though, as we head into lockdown, it's not all doom and gloom. The buzz word seems to be 'pivot.' Retail shops are closing down, though notably, weirdly, this has not actually been enforced by government. But they are closing down, and they're pivoting towards online sales. Cafes are pivoting to offer takeaway meal packs, and cafe owners have told me- some of them have told me they've never been as busy as they are now. Butchers have told me the last two weeks of sales have been equivalent to a year's worth of sales. [00:03:28] I also know of crocodile-spotting helicopter tours who have pivoted towards helping farmers muster their cattle. Also, some lovely news - our animal shelters have reported all animals have been fostered with three times the applications to available animals being submitted. That's our RSPCA, our Royal Society of Prevention of Cruelty to Animals. So, that's lovely. [00:03:58] Accountants and bookkeepers are trying their best to keep on top of news - what is fact? What's speculation? - while supporting clients as best they can, while the framework underneath them keeps shifting. They are exhausted. They are under a great deal of strain. They've been working very hard to try and support their clients. For me, like many modern accountants, I'm quite comfortable working entirely online. I've been proactively engaging in self-isolation since mid-March, entering my third week now. My family, too, are also working from home. [00:04:35] So, within my community, I know of more people who've committed or attempted to commit suicide in the last fortnight than who actually have coronavirus. I've been running an online community chat group, every afternoon at 4:00 p.m., for our community to come along, and decompress, and share their day. What I'd like to leave with, as well as the stay at home and be safe, please call, FaceTime, Zoom, or connect with everyone - your family, your friends, your neighbors, your business owners - and check that they're okay. Take care and remember to breathe!  ____________&n...

SponsorsBREX: https://cloudaccountingpodcast.promo/brexClockShark: https://cloudaccountingpodcast.promo/clocksharkBQE Core: http://cloudaccountingpodcast.promo/coreShow Notes03:05 - Navigating the SBA Paycheck Protection Program https://www.cloudaccountingpodcast.com/16804:20 - SBA Paycheck Protection Program https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-pppSBA issues details for Paycheck Protection Program loans https://www.journalofaccountancy.com/news/2020/apr/paycheck-protection-program-ppp-loans-sba-details-coronavirus.html - Journal of Accountancy06:28 - Fun facts about PPP loan stats from Jovita Carranza, 26th Administrator of the SBA https://twitter.com/SBAJovita 11:01 - Some coronavirus stimulus checks may not arrive until September https://www.accountingtoday.com/articles/some-coronavirus-stimulus-checks-may-not-arrive-until-september Accounting Today17:22 - Customers Fume as Wells Fargo, Bank of America Struggle with Stimulus Loan Rollout https://www.newsweek.com/customers-fume-wells-fargo-bank-america-struggle-stimulus-loan-rollout-1496097 Newsweek17:57 - Marco Rubio scolds Bank of America, via tweet https://twitter.com/marcorubio/status/1246114718990979075 21:25 - SoftBank-Backed Lender Kabbage Cuts Off Businesses as Cash Needs Mount https://www.bloomberg.com/news/articles/2020-04-01/softbank-backed-lender-cuts-off-businesses-as-cash-needs-mount - Bloomberg Technology23:44 - WeWork Asks Landlords to Help It Cut Its Rent Bill by Up to 30% https://www.bloomberg.com/news/articles/2020-04-01/wework-asks-landlords-to-help-it-cut-its-rent-bill-by-up-to-30 - Bloomberg Technology 25:30 - Companies Form #paytoday Coalition Encouraging Enterprises and Government Agencies to Pay Their Small Business Suppliers Today https://www.globenewswire.com/news-release/2020/03/31/2009086/0/en/Companies-Form-paytoday-Coalition-Encouraging-Enterprises-And-Government-Agencies-To-Pay-Their-Small-Business-Suppliers-Today.html - GlobeNewswire#PayToday https://paytoday.club26:07 - Small Business Relief Initiative: QuickBooks and GoFundMe combine forces https://quickbooks.intuit.com/small-business/coronavirus/26:25 Intuit announced updated resources for U.S. firms and their clients https://intuit.me/2JLAJai - Intuit27:30 Going Concern's Layoff Watch '20 https://goingconcern.com/?s=Layoff+Watch+%E2%80%992028:21 BDO USA Is Cutting Everyone's Pay to Stave Off Layoffs https://goingconcern.com/bdo-cutting-pay-to-stave-off-layoffs/ - Going Concern29:25 Goldman Says Recovery May Be Fastest In History https://www.pymnts.com/coronavirus/2020/goldman-says-recovery-could-be-the-fastest-in-history/ - PYMNTS30:07 - Lime eyes layoffs as COVID-19 squeezes revenue https://www.bizjournals.com/sanfrancisco/news/2020/03/23/lime-eyes-layoffs-in-s-f-as-revenues-get-squeezed.html San Francisco Business Times31:34 - David almost got phished! 33:39 IRS issues warning about coronavirus-related scams https://proconnect.intuit.com/taxprocenter/tax-law-and-news/irs-issues-warning-about-coronavirus-related-scams/ - Tax Pro Center - Intuit 33:49 Hospitals VPNs Targeted by Ransomware as COVID19 Takes its Toll https://www.infosecurity-magazine.com:443/news/hospitals-vpns-ransomware-covid19/ - Infosecurity Magazine 34:41 - Idaho, Mississippi, and Virginia are the Holdouts on July 15 Tax Deadlines https://taxfoundation.org/idaho-mississippi-virginia-tax-deadline/ - Tax Foundation36:58 - AICPA Calls on Accounting Profession to Support Rollout of Small Business Relief Program https://finance.yahoo.com/news/aicpa-calls-accounting-profession-support-164500760.html - Yahoo! Finance40:40 - Feed our egos, and help feed people in need at the same time!  https://www.podchaser.com/podcasts/cloud-accounting-podcast-588480Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram!  You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040.Reviews4GoodRight now, when you visit us on Podchaser, and interact, Podchaser is donating 25 cents per review - and 25 cents every time we respond to a review - to the Meals on Wheels America COVID-19 Response Fund. Pay us a visit on

SponsorsMelio Payments: https://cloudaccountingpodcast.promo/melioJirav: https://cloudaccountingpodcast.promo/jiravShow Noteshttps://www.sba.gov/funding-programs/loans/covid-19-relief-optionshttps://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp Connect with Michael and SabrinaMichael Ly, Founder/CEO of ReconciledWebsite: https://getreconciled.co/LinkedIn: https://www.linkedin.com/in/michaelly/Twitter: https://twitter.com/michael_ly_Facebook: https://www.facebook.com/burlingtoncfoSabrina Parsons, CEO of Palo Alto Software and Board Member of Oregon Pacific BankWebsite: https://www.opbc.com/LinkedIn: https://www.linkedin.com/in/sabrinaparsonsTwitter: @mommyceoGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Meet Blake and David in person!  No current appearances planned.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsGo here to create your classified ad:https://cloudacctpod.link/RunClassifiedAd  TranscriptMichael Ly: [00:00:03] One of the things I'm telling clients is this is not a growth loan; this is not a VC, or private equity fund investment; this is not angel funding. The intention of this loan- the intention of these loans is to keep people on payroll.____________This episode of The Cloud Accounting Podcast is sponsored by Melio Payments. Do you have clients that are logging into their bank website to manually pay their bills or, even worse, clients that are still handwriting paper checks because the alternatives are either too complicated, or too expensive? You need to introduce them to Melio Payments. Melio Payments is easy-to-use B2B payments and receivables. Think Venmo, PayPal, or Zelle but for small businesses.Melio is an app that all small businesses are capable of using, regardless of size, shape, or budget. By using Melio, your clients can pay their bills easier than using their bank website, and you get the process and controls you need, like support for multiple users, approvals, and two-way syncing with QuickBooks Online. Melio can also help your clients improve their cash flow by allowing them to pay their bills using their business credit cards to take advantage of up to a 45-day float until their next credit card billing cycle. Now, paying the rent can lead to earning those credit card points your clients love. To learn more about Melio Payments, and to get your very own Melio.me link that you can use to receive payments from your business clients, head over to cloudaccountingpodcast.promo/melio. That is Cloud Accounting Podcast dot promo forward slash M-E-L-I-O. ____________Blake Oliver: [00:01:29] Welcome to The Cloud Accounting Podcast. I'm Blake Oliver. David Leary: [00:01:32] And I'm David Leary. Michael Ly: [00:01:34] And I'm Michael Ly. Sabrina Parsons: [00:01:35] And I'm Sabrina Parsons. David Leary: [00:01:37] Blake, I've got special guests for us tonight. Blake Oliver: [00:01:40] I am so excited, David! Thank you so much for setting this up. David Leary: [00:01:43] There's lots of questions on what the programs rolling out from the SBA are. Even me, as a small business owner, I don't know what the answers are. I'm trying to navigate them myself. So, I brought on an accountant/bookkeeper, Michael Ly, who is advising hundreds of his clients, probably, on how to navigate this process; and then Sabrina Parsons, who's been on the podcast before. She actually is on the board of directors at a bank, and Sabrina has inside tracks with the SBA, and the SBDC, so she can kind of give us, like what's happening behind the scenes during this process, as well. With that said, Michael, and Sabrina, if you guys wanted to jump in and maybe say hi? Michael Ly: [00:02:19] Yes, hi. Thanks, David and Blake, for having us; for having me and for having both of us. David, yeah, your situation is very similar to many millions of other small business owners across the country. Sabrina Parsons: [00:02:31] Yeah, thank you. I'm really happy to be back with you guys, Blake and David. The last time we were together, we were actually at a conference, which seems so far away and so foreign now, since we're not allowed to ever do that in person for I don't know how long. So, I'm glad to be talking to you guys in some way or another, and I'm really glad to be doing this content today because the number of small businesses in the United States, right now, that are struggling is staggering. But there are some programs that can help them, and these programs are very difficult to wade through and figure out what...

SponsorsBREX: https://cloudaccountingpodcast.promo/brexMinute7: https://cloudaccountingpodcast.promo/minute7OnPay: http://cloudaccountingpodcast.promo/onpayShow Notes04:11 - Forecasting the Economic Impact of COVID-1906:55 - Kinsa Wi-Fi ThermometersOn-Demand Webinar: Forecasting the Economic Impact of COVID-19 - Jirav08:26 - Experts Say The Coronavirus Outlook Has Worsened, But The Trajectory Is Still Unclear - FiveThirtyEight11:16 - Billionaires Want People Back to Work. Employees Aren’t So Sure - Bloomberg13:11 - Intuit, CPAs Want SMB Relief Via Payroll Processors - PYMNTS.com 16:32 - Coronavirus stimulus checks will come within three weeks, Mnuchin says - CNBC17:01 - Virus payments from IRS may take months, not weeks, to hit bank accounts - Accounting Today17:52 - IRS closes Practitioner Priority Service and e-Services Help Desk due to coronavirus - Accounting Today20:56 - COVID-19 Resources for AccountantsCoronavirus (COVID-19) Resource Center - AICPACOVID-19 Small Business Resource Hub - Gusto26:07 - IRS releases guidance on tax deadline postponement for coronavirus - Accounting Today26:45 - AICPA asks IRS for wider tax relief amid coronavirus - Accounting Today28:04 - Boston area CPA still making house calls - Twitter29:07 - PCAOB grants auditors 45-day relief period from inspections - Compliance Week29:28 - Wells Fargo Cancels Ex-CEO's $15M Stock Award - CFO31:16 - How Accountants and Bookkeepers can help their Small Business Clients Navigate through COVID-19 - LinkedIn 32:57 - Ignore these horrific-sounding economic numbers - Yahoo! Finance36:01 - COVID-19 CFO Pulse Survey: PwC41:12 - Revolut launches its neobank in the US - TechCrunch44:59 - Square will open its first bank — in Utah 45:47 - Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar - Forbes46:12 - How a Flurry of 'Digital Dollar' Proposals Made It to Congress - CoinDesk48:41 - Robinhood Apologizes To Users For Outages - PYMNTS.com49:42 - Microsoft claims ‘inflection point’ for remote work as Teams surges to 44 million daily active users - Computerworld 52:10 - The Best Hair Clippers for Home Use for 2020 - The WirecutterGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Meet Blake and David in person!  No current appearances planned.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsGo here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptRight now, Brex is offering approved accounting partners the ability to offer their clients a $1,00...

SponsorsBill.com: https://cloudaccountingpodcast.promo/billClockShark: https://cloudaccountingpodcast.promo/clocksharkOnPay: http://cloudaccountingpodcast.promo/onpayShow Notes24:54 - Senator Dumped Up to $1.7 Million of Stock After Reassuring Public About Coronavirus Preparedness26:38 - Some webinars re: Food Service and Accounting During This Crisis Five Crisis Numbers for Food & Bev - YouTubeNow What? Business Ops Guide for Restaurants 03 18 2020 - YouTube29:24 - Planning for the Coronavirus Recession - CPA Trendlines32:34 - FYI, CPA Exam Candidates, COVID-19 Just Killed Prometric - Going Concern34:35 - Tracker: These Public Accounting Firms Are In Mandatory Work-From-Home Mode - Going Concern39:36 - How to (and not to) write an email about COVID-19 to your clients - The Profitable Firm43:23 - Find Kelly's Forbes contributions here - Forbes.comConnect with Kelly Phillips ErbTwitter: @taxgirlLinkedIn: Kelly (Taxgirl) Phillips ErbWebsite: Taxgirl.comGet in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsHigh Rock Accounting: careers@highrock.co Bookkeeping Side Hustle: www.BookkeepingSideHustle.com/bookkeeping-guidebookGo here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd  TranscriptDid you know that you could use AP automation as an entry point to offering client accounting services? A successful transformation from clunky manual processes to automated processes can lead to your clients wanting even more of the services your firm can provide. Stay tuned to hear more from our sponsor, Bill.com, later in the episode. Kelly Phillips Erb: [00:00:21] What the bill does is it expands the eligibility for small businesses, meaning those that are under 500 employees to receive loans under the Small Business Act. These loans are specifically targeted for folks who are affected by the virus, and they can be used for payroll ... ____________________This episode of The Cloud Accounting Podcast is sponsored by ClockShark. Way back in October of 2013, I became ClockShark's very first Twitter follower. Today, ClockShark has grown into a highly rated and very-much-loved time-tracking app that is now used by over 5,000 small businesses. With features like crew tracking, scheduling, overtime notifications, routes, geofencing locations, job costing, budgeting, and reporting, the ClockShark team has built a robust mobile time-tracking app to handle the unique that face your clients who have mobile workforces.  By using ClockShark, you and your clients will be confident that their time-tracking data is correct and perfectly synced with their QuickBooks, or ADP, allowing payroll to be on time, and accurate. While other time-tracking apps are charging as much as $8 or more per month, per employee, ClockShark offers ClockShark Standard Plan for just $6 a month, per employee. Head over to cloudaccountingpodcast.promo/clockshark. That is Cloud Accounting Podcast dot promo forward slash C-L-O-C-K-S-H-A-R-K.____________________This episode of The Cloud Accounting Podcast is sponsored by OnPay. Many times when choosing a payroll service, you have to choose between a new startup with a great app, or an established company whose tech may feel behind the times. With OnPay, you get the best of both worlds - a great app from the established company that has been providing payroll services for over 30 years in all 50 states. OnPay is an easy-to-use full-service payroll that's the right fit for all your clients, whether they have just one or 500 employees. They handle all the complicated stuff, like agricultural payrolls, Form 943, multi-state, and H-2A visas. OnPay even makes it easy to switch from other payroll services by doing all the data entry for each client that you set up. Right now, Cloud Accounting Podcast listeners can get three free months of OnPay payroll service. To learn more, head over to cloudaccountingpodcast.promo/onpay. That is Cloud Accounting Podcast dot promo forward slash O-N-P-A-Y. ____________________Blake Oliver: [00:02:20] Welcome to The Cloud Accounting Podcast. I'm Blake Oliver. David Leary: [00:02:23] And I'm David Leary. Kelly Phillips Erb: [00:02:24] An...