• How long do you usually receive the funds after signing the attestation form and promissory note?

    I signed and submitted the attestation form and promissory note via the link from BoA on 5/1, and it shows success and should expect the funds to be posted to your account within 1-2 business days. However, as of toda...
    last modified by chris19900218
  • One step away from receiving PPP funds?

    Got an email this morning saying I was one step away from receiving funds and just needed to sign my promissory note, signed in but nothing there to sign? I spoke with a BOA loan specialist who told me to sign in to m...
    last modified by gillianboyle
  • PPP Final note for 13 dollars.

    I am an individual sole proprietor that put in for the PPP application about two weeks ago.  I submitted all my documents including a schedule 1040c, where it shows my net profit for 2019 on line 31.  This i...
    last modified by inabj2
  • PPP Promissory Note under a Wrong Company Name

    I have 3 business accounts with Bank of America. However, I applied for PPP loan only for 1 company. I received an email asking for the promissory note to be signed. However, the promissory note was issued to the wron...
    last modified by skba-johnikim
  • 30 Years w/ BOA and No PPP Covid-19 Support

    After three weeks, I have only received one message from BOA, requesting 1099s. They were uploaded immediately. Weeks later, nothing. No communication. No help at branches. No help on phones. No online help. Nothing. ...
    last modified by erikpcarlson
  • Does anyone use the Profit First approach to small business accounting?

    Hello All!  I am just starting my small business journey and have been reading up on some accounting methodologies including Profit First which was popularized by author Mike Michalowicz.  I am wondering i...
    created by midwest345
  • The Accounts Payable Automation Opportunity

    For organizations seeking ways to streamline back-office operations, cut costs and achieve best practices, accounts payable represents an area of opportunity. This labor-intensive cost center once required many clerks...
    last modified by image-1
  • What are the CD rates paying at BOA?

    What are the 6 month CD rates paying at Bank of America.  Thinking of opening up one.
    last modified by lendinero
  • How come you don't have a year to end profit to loss statement?

    Working in alternative lending, I have found that most small businesses don't run month to month profit to loss statements. This is insane.  If you don't know what happens month to month with your financial activ...
    last modified by lendinero
  • What Happens to an Inventory Account When Materials Are Bought, Requisitioned, Manufactured, used in jobs or Sold?

    If your company is a construction, distributor or manufacturing business using accounting software and are seeking information to help understand how it should work within the software system or if you are new to thes...
    last modified by 4Accounting
  • I am a sole proprietor of an s Corp

    I am a single owner for my s corp and I pay people that work with me with a 1099. I use different people all the time so I don’t really have employees . My question is, last year the accountant just took te bott...
    last modified by s2c
  • Constructive receipt and retirement contributions

    I am a sole proprietor and my question relates to my i401k contributions.  Specifically, my question has to do with i401k salary deferrals and cash basis accounting "constructive receipt".  I have a custom p...
    last modified by cgr
  • Qualification criteria for home mortgage

    Hi, I want to buy a home and I am planning to take a mortgage for that. I am not familiar with the terms and conditions related to the qualification criteria for a mortgage. As I have a good credit score, I hope it ...
    created by winfred01
  • Business Credit Cards

    Hey guys just wondering how many of you use credit cards for your business spending? And if you do, which ones and why. Provide as little or as much info as you'd like, I'm just trying to see which products are most p...
    last modified by kbernath555
  • Cash Management Enhanced by Technology

    Cash management has never been easier, in the past 10 years banks have incorporated the digital revolution into tracking revenue, cost of goods, expenses, deductions and profit.   Years ago everything was done w...
    Vilnius Industries
    last modified by Vilnius Industries
  • EIN, SSN and keeping business and personal finances apart.

    Hi,   This is my first post.   I am attempting to open a working capital management account (checking account) for a new LLC.  I'm currently a banking customer at a different institution and have confir...
    last modified by privacy
  • ICYMI: 5 Tips for Tax Season Infographic

    With tax time fast approaching, it can be challenging for even the most organized small business owner to be prepared to file their taxes.  The SBC Team has put this helpful Infographic together that provides som...
  • Cash flow

    Suplies sales marketing
    last modified by yovaniza1
  • Common Cash Management Services

    Automated Cash Handling: Using specially designed software to deter theft of cash drawers. This costly service is in decline due to internet use. Advanced Internet Services: An intricate system designed for manageme...
    last modified by moderator_mel
  • Is there a legal way to forgive a company loan to myself?

    I have kept strict records of money the company (a small C Corp) has used to pay my personal bills over the years, about $40K. I see it as a loan to me from the company.   Is there a legal way for the company t...
    last modified by mggpatt