- When does interest start accruing on a PPP Loan?
- Is employer portion of Social Security part of the payroll cost calculation?
- How to apply for forgiveness?
- Is owner salary capped based on 2019 income?
- Can you use EZ form if replaced employee who left?
- Can you use EZ form if you have cut hours?
- Can you use EZ Form if choose 8 week covered period?
- Can you use EIDL for short term debt?
Learn how to navigate and understand PPP loan forgiveness application processes, eligible expenses, documentation as well as critical items for loan recipients. IRx's Owen BonDurant and Rich Danhof provide insight on how these programs and recent changes affect your pharmacy business.
If you missed our Webinar earlier this week hosted by IPC (Independent Pharmacy Cooperative) the recorded webinar and its accompanying presentation slides are available for your review. We had a tremendous turnout and great feedback.
If you have any questions or feel that IRx could be of further assistance on this topic or your general pharmacy accounting or consulting needs, please feel free to reach out to us.
1. Accounting Made Simple: Accounting Explained in 100 Pages or Less
Simplify the world of accounting: Whether you're a manager, business owner, or aspiring entrepreneur, you've likely found yourself needing to know basic accounting but intimidated by complicated accounting books. How do you manage an account balance? And how do you increase profits? The Accounting Game makes complex financial accounting as simple and fun as running a lemondae stand!
- Set up and run your business
- Manage and sell your product or service
- Perform a month-end balancing of accounts
We are facing an unprecedented challenge. COVID-19 has spread rapidly across the world
affecting workforces, global economies, and everyday individuals. While the virus has seemingly
turned the world as we know it upside down, good news is on the horizon. Through concerted
efforts of social distancing in the United States, it appears that the “curve is flattening” and states
are slowly beginning to reopen. With states reopening, pharmacies need to implement controls
that will not only protect the safety and health of its employees, but also its patients.
The motivation for a pharmacy to properly reopen is obvious and includes: (i) the desire to take
care of its patients; (ii) the desire to take care of its employees; (iii) the desire to keep its doors
open; and (iv) the desire to protect itself from plaintiffs’ attorneys who will likely come out of
the woodwork six months from now and sue pharmacies for negligence.
The purpose of this white paper is to provide guidance to pharmacies on structuring an
appropriate written protocol that implements necessary controls including: (i) what reliable
governmental sources a pharmacy can turn to for COVID-19 guidance; (ii) recommended
controls for pharmacy employees; and (iii) recommended controls for pharmacy patients.
Download the full White Paper in PDF format
Independent Rx Consulting Expands Executive Team with Key New Hire
Dayton, OH, May 11, 2020
Independent Rx Consulting is pleased to announce and welcome Mark Nelson as Partner and Vice President of Business Development.
His primary role will be to develop and execute a broadened range of new value added sales initiatives. Mark is uniquely positioned to expand Independent Rx Consulting's services offerings via his proven expertise in strategic sales planning, relationship building, and passion for helping independent pharmacies succeed.
“There are few people in the industry who could provide our current and future clients the depth of knowledge he will bring. He is a key addition to our executive team.” says Owen BonDurant, Partner at Independent Rx Consulting.
Mark has over a decade of experience in the independent pharmacy industry, most recently as Vice President of Sales at PioneerRx, a leading pharmacy software company. From installing software and training staff to helping industry leaders optimize their pharmacy operations, Mark’s extensive technology background, industry experience and business development skills will be instrumental in helping Independent Rx Consulting continue to expand both its service offerings and industry reach.
“I am beyond thrilled to be a part of the Independent Rx team,” said Mark. “I have the ability to continue working with the customers I know and love in an industry that I’m extremely passionate about. For years I’ve worked with pharmacists to help them realize their dream of owning their own business, and it feels good to take the same leap myself.”
Clients and friends are invited to send their messages of congratulations and welcome.
Independent Rx Consulting provides business services addressing needs throughout the entire life cycle of independent pharmacy ownership, from the initial purchase or starting of the pharmacy to its ultimate transition. Services offered at all stages of the pharmacy ownership life cycle include accounting, data dashboards, operational consulting and start/buy consulting.