How the Cash Accounting Method Can Optimize Tax Savings
Numerous funding programs issued in 2020 have provided independent pharmacies with the opportunity to optimize cash flow and tax savings. After many pharmacies received Paycheck Protection Program (PPP) relief loans, Small Business Administration (SBA) debt relief and Economic Injury Disaster Loan (EIDL) …
Classic Video: Top KPIs for Pharmacy Accounting
What are the top key performance indicators (KPIs) that determine the health of a pharmacy? Pharmacy CPA Scotty Sykes shares the top key performance indicators (KPIs) that experienced pharmacy accountants review regularly. He looks at why having accounting fundamentals in place is …
Employee Retention Tax Credit for Startup Pharmacies
Still a hot topic, the Employee Retention Tax Credit (ERTC) remains available retroactively for those who qualify. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discusses ERTC eligibility …
2021 Employee Retention Tax Credit for Independent Pharmacies
Does your independent pharmacy qualify for the 2021 Employee Retention Tax Credit? Watch this video for more information. The tax credit is a continuation of the Consolidated Appropriations Act (CAA), which was signed into law to help businesses struggling under the COVID-19 …
Classic Video: The Worst Mistakes in Startup Pharmacies
This is a classic video by Ollin Sykes. View our most recent video on mistakes made by startup pharmacies. Working with independent pharmacies across the country, Ollin Sykes has seen his share of mistakes and worst case scenarios. In this video he …
Technology, Security and Your Pharmacy
Cybersecurity is a hot topic in all areas of business, and it is also gaining traction in the pharmacy industry. Pharmacies collect Personally Identifiable Information (PII) and Protected Health Information (PHI) from their patients to dispense prescription drugs and to maintain appropriate …
NCPA Updates and Upcoming Events
National Community Pharmacists Association (NCPA) protects and promotes the interests of independent pharmacists whose success is vital to their patients and their communities. On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty …
Pharmacy Accountants Recap 2022 Trade Show Circuit
In this lighthearted, yet educational episode of our new The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they recount memories and takeaways from their tour of the independent pharmacy trade show circuit in 2022. Pharmacy accountants and …
How it All Began with Ollin Sykes, CPA.CITP, CMA
We get asked all the time about how Sykes & Company, P.A. got started, so we invited Ollin Sykes, CPA.CITP, CMA – the pioneer himself – to tell us how it all began. Join Ollin, Bonnie Bond, CPA, Kendell Harris, CPA and …
How Does the Inflation Reduction Act Affect Pharmacies?
Note: This video was recorded prior to the House vote and President Biden signing the Inflation Reduction Act of 2022 into law. In this episode of The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they discuss the …
