Using Benchmarks/Metrics to evaluate performance
• Benchmarks are a way to measure how well the business is doing. Defining benchmarks is critical to measuring the success of your business.
• Macro benchmarks such as profitability and output look at the overall business
• Micro benchmarks target specific processes, customers, or products
• Leading or lagging indicators may drive business decisions in your industry such as new construction, interest rates or the labor market
• Setting up metrics to measure whether you are achieving those goals is critical to identify where your efforts should be to get your business back on track.
Using Benchmarks/Metrics to evaluate performance
• Benchmarks are a way to measure how well the business is doing. Defining benchmarks is critical to measuring the success of your business.
• Macro benchmarks such as profitability and output look at the overall business
• Micro benchmarks target specific processes, customers, or products
• Leading or lagging indicators may drive business decisions in your industry such as new construction, interest rates or the labor market
• Setting up metrics to measure whether you are achieving those goals is critical to identify where your efforts should be to get your business back on track.
Using Benchmarks/Metrics to evaluate performance
• Benchmarks are a way to measure how well the business is doing. Defining benchmarks is critical to measuring the success of your business.
• Macro benchmarks such as profitability and output look at the overall business
• Micro benchmarks target specific processes, customers, or products
• Leading or lagging indicators may drive business decisions in your industry such as new construction, interest rates or the labor market
• Setting up metrics to measure whether you are achieving those goals is critical to identify where your efforts should be to get your business back on track.
Setting Up Your Books
• Defining the chart of accounts is the most important part of setting up your books. This defines how you will measure your business going forward. If you have already set up your chart of accounts, we can help you tweak it for your best advantage.
• Adding customers, vendors, items, setting up assemblies, groups, categories, classes
Setting up your bank feeds and merchant accounting
Catching Up
• Did you get behind in your bookkeeping/accounting? We can help you get caught up while you continue running your business.
Cleaning Up
• Perhaps your previous financial professional was either not qualified for the job or s/he didn’t care. We can clean up past mistakes and put you on the right track for the future.
Maintaining
• We can provide monthly, quarterly and annual tasks including
• Month-end close including bank and balance sheet reconciliations
• Journal entries
• Reviewing P&L accounts for reasonability
• Accruing Income/Expenses
• Payroll Processing
• Taxes
• Sales tax
• Payroll tax
• Tangible property Tax
• Estimated income tax payments
Effective Financial Reporting
• Providing a standard P&L and Balance Sheet can be as easy as a push of a button. The real benefit is in analyzing your financial condition which includes the income statement and balance sheet but also other reports to drill down to the causes and conditions of your business.
• Small businesses who have a tight budget want to know if they are getting the most bang for their buck.
• Imagine knowing exactly what products are the most profitable taking into consideration lead times, landed costs, production costs, material and labor.
• Preparing a budget tool where the business owner can modify assumptions as the business begins to grow.
• Providing financial projections to stakeholders. Projecting profitability and cash flow is a necessary tool for banks, lenders, and investors especially when you are ramping up the business.
Training - Saving on Costly Outsourcing
• We can provide you with the training necessary to take care of the day-to-day bookkeeping or accounting work to cut down on costs associated with outsourcing. We want your business and there’s plenty for everyone but if we can save you money, then we’ve done our job.
Temporary Support
• If you have an employee who is out on family leave or is having a long recovery due to health reasons, we can provide you with temporary accounting.
Services include:
• Interim Controller
• Bookkeeping, accounts receivable/payable
• Administrative support