Hawkeye Business Solutions, LLC

04/30/2025

12/12/2024

It was amazing to give a lecture to the Intermediate Financial Accounting class at Hagerstown Community College! I graduated from HCC, and my son is a current student. There is a new Center for Business and Entrepreneurial Studies that was really impressive. It's nice to see the college investing in the business program.

07/17/2024

With Frederick County Chamber of Commerce – I just made it onto their weekly engagement list by being one of their top engagers! 🎉

07/15/2024

Interesting article about emerging trends in finance at Fortune 1000 companies.

Is your business focused on FP&A, performance management, and leveraging technology such as AI, machine learning, and ERP systems?

These are critical tasks, even for small to mid size businesses.

Finance chiefs are also focusing on business performance management and digital transformations.

06/28/2024

I had a great time at the Frederick County Chamber of Commerce ribbon cutting for the new first floor of the ROOT building. It's right in the heart of downtown Frederick. As a small business owner, I am excited to use this space to meet with my Frederick clients. It's nice to see an organization truly supporting small businesses. ❤️

06/20/2024

So excited to be sponsoring the Washington County Ice Cream Trail! The best part is the participation! 😜

https://www.facebook.com/share/T7zte1htMmv3AKAP/?mibextid=NoJtEM

📣 Last Call! Washington County is Seeking Sponsors for the 2024 Ice Cream Trail 🍦

The Washington County Public Relations and Marketing Department and the Department of Business and Economic Development are excited to announce the launch of the 2024 Ice Cream Trail, a delightful journey through our community's finest ice cream establishments. To make this event a sweet success, we are seeking sponsors at various levels to support this initiative. The deadline for sponsors is TOMORROW, Friday, June 21, 2024, at 4:00 pm.

Join us in celebrating Washington County's love for ice cream and become a sponsor of the 2024 Ice Cream Trail! For more information or to secure your sponsorship, please visit www.washco-md.net/icecreamtrail.

06/20/2024

Cash vs. Accrual Basis - Which one is right for your business?

In many small businesses, owners are wearing multiple hats, and juggling multiple priorities. Due to the lack of time, most small businesses use the cash basis accounting method. It is easier, and simpler than the accrual basis method. However, there are distinct advantages to the accrual method that should not be overlooked.

First, let's discuss what the methods are, and how they are different. The key difference between the two methods is timing. In the cash basis method, the recognition of revenue and expense is driven by when cash is received or disbursed. In contrast, the accrual method recognizes revenue when it is earned, and expenses when they are incurred.

For example, in the cash basis method, if you sell $5,000 of goods or services on June 1st, and the customer pays the invoice on July 1st, the revenue is recognized on July 1st. Under the accrual method, the revenue is recognized on June 1st - when the revenue was "earned."

In a similar fashion, in the cash basis method, expenses are recognized when the bill is actually paid. For example, if you receive a bill for a subscription for the month of June, and pay the bill in August, the expense is recognized in August. In the accrual basis method, the expense would be recognized in June, the period in which the expense was incurred.

Accrual basis accounting follows the matching principle, which is a major advantage over cash basis. That is why it is accepted under Generally Accepted Accounting Principles (GAAP). The matching principle is an accounting concept that dictates that companies report expenses at the same time as the revenues they are related to. Revenues and expenses are matched on the income statement for a period of time. The advantage is it provides an accurate picture of your finances, and allows you to compare amounts across periods to identify trends and take corrective action to put your business on the right track. For example, if sales drop by 20% every year in the month of August, you can increase advertising or promotions for that month to mitigate the loss.

For additional information, or a free assessment of your business, call 301-660-8644 or email [email protected] to learn more.

06/11/2024

Are you a small business or non-profit looking to save money? 💰💰💰Hawkeye Business Solutions provides high quality bookkeeping services at cost effective rates. We are NOT like the big CPA firms!

✅ Personalized service
✅ Highly qualified staff
✅ Cost effective
✅ Dedicated to small businesses

Call 301-660-8644 for a free consultation, or visit our website www.hawkeyebizsolutions.com to book a time with me directly.

This month, we are offering a $50.00 Visa gift card for each person who refers a client for bookkeeping services.

05/22/2024

I'm excited to announce I've launched a new business! Hawkeye Business Solutions provides bookkeeping, accounting, and consulting to small businesses and non-profits. After attending Hagerstown Startup Week, I am inspired as ever to be a great resource for local businesses and non-profits!