Spend More of Your Time Making Money
The average business person wants to spend most of his or her time on making money and as little time as possible on record keeping. He frequently hires a staff person to take care of day to day administrative duties, to answer the phone, and to do the part-time bookkeeping. He is often not too concerned if his business shows a loss because a loss in most cases means that there will be no taxes due. However, losses can be due to incorrect reporting and can lead to stiff fines and penalties if not corrected. It is frequently the Professional Bookkeeper that is the first to see the business is having trouble. The information from the financial statements could be life-saving when communicated to the business owner in a timely fashion. This communication can be a real wake-up call!
Example 1 - The Construction Business
In the construction business profits are earned when the job is completed. The mere recording of receipts into the bank account leads to dangerous inaccuracies in the reporting of income. Some jobs may be completed on the same day they were started; others may be completed over several days, even months .Managing approved bids and associated costs so that the books show the bids and costs to date before completion is a much better way to go and we will develop a system for you that will do just that.
Incidentally, a contractor may choose to pay sales tax on materials when purchased and include it as part of the cost or pass it on to the customer on the sales invoice. If you are required by law to collect it from your customer you must pay it to the appropriate agency. However, sales tax is not the only tax a contractor has to pay. Do you really want to pay income taxes at the point of completion of every contract? Let us show you how best to track sales so that you PAY TAXES based on PERCENTAGE OF COMPLETION.
Example 2 - Dealerships
Pproper accounting is needed for Contracts in Transit, Bank Reserves and Flooring. In addition finger-tip control of Income and Expenses is vital. Accounting doesn't get anymore complicated than this. When dealing with the BIG BUCKS you need a system that can effectively handle Flooring - the necessary evil of high cost retailers. You need Accounting for creative selling. Whether you are in Automobiles, Motorcycles, Appliances or Furniture, we will show you how to get that iron-clad feeling that your financials are right. Learn how to spot and avoid dangerous trends, how to save on auditing costs and MORE!
Example 3 - Food / Cafe / Beauty
A simplified Cash to Accrual System that is inexpensive, informative, accurate, and easily maintained.
Example 4 - Manufacturing
Control of Raw Materials, Direct Labor, Work In Process, and Finished Goods; Keeping expenses Categorized: Manufacturing Overhead vs. General Overhead.
Example 5 - Professional Management
Control of Expenses and Income for Year-end Savings; Taking advantage of Cash to Accrual Accounting; Keeping on top of all Accounts Receivable and Improving Collections.
Example 6 - Wholesale / Retail / Service
A complete control system to cover Accounts Receivable. Payables, and Inventory Control