Non-Tax Services
Successful companies don’t just watch money come in and go out, they have strategies to use their resources for maximum benefit. Our objective is first to provide full financial awareness so you understand your financial situation, and then help you discover better ways to use your existing resources to enhance value, profitability and cash flow. Since every company has different needs, we customize a set of services based on those needs, typically including any combination of the following:
1. Set Up: A set up engagement is required when the client has no accounting system or a system not adequate for their needs.
2. Cleanup: A cleanup engagement is where the client has an accounting system, but cannot accurately use it due to errors, or the system has never been properly executed.
3. Monthly Accounting: Monthly accounting engagements are those where we are working with the client on an ongoing basis each month. In this case, our work falls into two broad categories, Basic Month-End Accounting/Booking, and CFO Services
a. Basic Month-End Accounting & Bookkeeping: These are basic monthly services which generally include preparation of financial statements (i.e. Balance Sheet, Income Statement, Profit & Loss statement, etc.), account reconciliations, and maintaining the General Ledger.
b. Outsourced CFO Services: Rather than just basic accounting, this involves high-end value creation and may involve gross profit analysis, sales expansion projects, cost reduction, etc. There is usually a specific set of goals to increase sales or margins, reduce expenses, and increase the value of the business to the owners. Depending on the specific situation, our CFO services could include (but not limited to):
· Goal setting to achieve specific objectives
· Identifying key performance indicators (KPIs) and mapping out reports to monitor them
· Custom report design to better align with the activities we need to monitor
· Ongoing reporting, financial analysis and interpreting of financial results
· Coordination with onsite bookkeepers and accounting staff
· Creation of training for accounting staff and other company members
· Recommendation of new technology to aid in objectives (and potential implementation)
· Cash management, forecasting and planning
· Manage annual budgeting and forecasting process
· Strategic planning
· Tax Planning and Tax Preparation (see Tax tab)