Accounting Department “Tune-Up”…
As a company grows from one level of business to another, its functional departments must make similar transitions. A department’s organizational structure is set in place based on the processing requirements at the then-current processing level. When a company experiences sustained growth, it eventually reaches a level where the existing structure is no longer appropriate for the new level of volume. Aside from the processing inefficiencies, information flow can be significantly impaired. In the accounting department, any obstacles to the free flow of information to management can have serious consequences.
Drawing on our experience with high growth environments, we evaluate the accounting department’s processing flow to determine relative priorities. Based on those priorities, we redefine and partition tasks to effect efficient processing at the current volume level (and beyond). Through the teaching experience of our consultants, the office staff is effectively trained to meet their altered responsibilities.
Putting the “Small” in Small Business:
- Next, we evaluate the structure and reporting ability of the current accounting system. Often, the accounting system architecture is determined at the time of installation, and with the popularity of QuickBooks, it is frequently set up by someone outside the field of accounting.
- Thus, when a new opportunity presents itself, the opportunity is exploited, but frequently, long-needed adjustments, coupled with the ones necessitated by the recent growth are not made to the financial reporting system to collect all of the relevant data.
- When a company experiences such growth, relevant financial information must be communicated to management in a timely manner. If the accounting system cannot provide such information, it has to be provided manually if it is to be provided at all. As a result, the financial staff is occupied with manual reporting tasks, and both the accuracy of the manual reports and the financial control of the business risk being impaired.
Anticipating Cash Flow
Forecast -vs- Budget?
We like to use the term forecasting. For the larger organization, the budgeting process is more of a tool to restrain the spending of its managers. For the small business, the forecasting process helps the company’s management to understand the varying costs of varying levels of volume.
Get A “Future” Shock
Are All Tax Preparers the Same?
There is an old assumption about accounting firms with both Tax Departments and Business Management Departments. The assumption is that the Tax Department can identify problems that can enhance opportunities through the Business Management Department, and the Business Management Department can identify opportunities that can be exploited by the Tax Department.
Sadly, in real life, the Tax Department and the Business Management Department rarely talk, and if they did, professionally, they know very little about what the other department does
All of our initial consultations are free, but when we meet our clients, we frequently find that their business taxes are prepared by “personal” income tax professionals. We are business tax specialists. We frequently find prospective clients that are paying significant taxes that could be avoided with a separate entity – with immediately advantageous tax elections – except their tax preparer never told them. We tell them in the free consultation!
Free Business Advice
Anyone with any significant business experience can immediately see opportunities in a fresh look at a business they work with. Our tax professionals are no different and frequently will make suggestions based on the information they see in the tax preparation process.
…and we tell the client what we see, for no additional charge.
If You Are Not Happy With Our Service, You Will Find Someone Else!
Uniquely, our clients come back year after year after year. Our client retention is close to 100%. The frequent feedback we get is “I never had anyone explain this stuff before.” When client documentation is missing, we don’t prepare the return without it, we ask you to get it. When the tax documentation you give us doesn’t make sense, we let you know and assist you on getting the information corrected.
And if we’re your Part-Time CFO, you get all of the benefits of our Business Management Services and the Tax Advice we give so freely.
No Sales Approach, We’ll Simply Tell You What We Think.
If You Have Questions About Your Current Tax Preparer, Talk To Us!
Advice and consulting at your fingertips! Schedule an appointment today.
12625 Frederick St. Suite I5-300
Moreno Valley, CA. 92553
M-F: 8am-5pm and by appointment
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