Most business owners like yourself are constantly asking one very important question - How can my business become more profitable?
Well, unfortunately, most of these individuals don't know where to look to find the keys that will unlock their company’s great potential.
The answer though is simple. These valuable keys are found within your own finance and accounting system. Every successful business owner knows that an accurate and up-to-date accounting system is vital for the profitability of their business no matter how big or small.
But how do you know if your financial system is working for you? Each system must be evaluated to determine if it is working effectively. The following questions will help you to determine if your current situation is proving valuable to your business.
Are you receiving accurate and up-to-date information on a regular basis?
How are you using the accounting information that you’re receiving to increase your profits?
Do you meet regularly with your finance manager to discuss your current and future plans? Do they help you properly monitor or manage your cash flow?
Does your accountant advise you on tax-saving strategies throughout the year?
Do you have a relationship with a financial institution that will provide you with a line of credit to help get through inevitable cash crunches?
A good financial system will give you accurate information. A great one will give you knowledge and wisdom which you can use them to make informed decisions regarding your future growth.
And this is the difference between an accountant or a bookkeeper and a CFO. What good is the information if it isn’t clearly helping you to meet your goals?
Finance is an essential function of any business in that it allows the marketing and production parts of your company to prosper. A good accountant will provide monthly profit and loss statements and balance sheets. A CFO, however, will also be able to help with obtaining access to capital so as to help your business grow.
Your CFO should also provide benchmarking which is comparing your business to others in your industry of equal size. This will allow you to see what your competitors have done and how you can learn from their experiences.
Additionally, they will advise you on which product or marketing techniques have been successful and which have been too costly.
Your CFO should also be prepared to explain how your company statistics compared with last month, last year and so forth. Knowing where you have been and where are you were having is valuable in planning for the future.
Now here's a riddle. What's the difference between tax planning and tax preparation? Well the answer is December 31st! Tax preparation occurs after December 31st. But tax planning happened before year-end. Your CFO should be able to advise you on how you can save money by lowering the required taxes you pay. They should also provide accurate and complete tax preparation services to save you from penalties and late fees.
Now logically you'll need more than a data entry clerk process in your accounting information. You should have a trustworthy goal-oriented person who has the ability to input and analyze the data then advise you on every area of your company's financial standing.
Here were a few questions that will allow you to analyze how your accounting specialist services measure up:
Does your finance manager offer an easy way to receive and deliver your paperwork?
Have you ever paid late fees or penalties?
Do you and your accountant financial manager plan for future growth?
Do you currently have one year, and five-year goals written down and have you shared these with your accountant?
Where are the current areas of weakness within your company and how have you decided to improve these?
Do your customers receive current statements every month.
Do you know your business’ current ratio?
Do you know where your cash flow is going?
Is your business ‘in the black’?
Are you working in your business or on it?
Most business owners spend much of their valuable time working within their businesses. They usually have little extra time to work on it.
Having a competent, qualified professional to handle the financial details can be a huge money saving and time saving benefit. Accounting can become very costly if you’re doing it yourself.
What would you be doing with the time you save by not having to enter all of those transactions into your accounting system? The cost of hiring a professional accountant is very small compared to what you’re currently spending by doing the work yourself. Here’s an example to demonstrate how much can be saved. A landscaper was billing his customers about $65 an hour to work on their properties. And he usually spent about 15 hours per month working on his own accounting. This was time that could have been spent producing more income. But the accounting work also needed to be done. So how much was he actually losing in billable hours? Close to $1,000. By hiring a financial manager for a small set fee, he actually ended up saving more than $500 each month. And he gained the added benefit of having an advisor to show him how he could become more profitable in his field and save money in taxes at the end of each year.
Now here are some of the benefits of hiring us to handle all of your financial needs.
We will receive and deliver your financial records electronically and on a regular basis.
We will provide monthly financial statements giving you peace of mind because you'll always know where your business currently stands.
We will help to prepare loan and investment packages in order to make sure that you always have access to capital.
We will advise you on legitimate strategies that you can use throughout the year saving your money on your taxes.
We will make sure your tax records are accurate and on time. You'll never pay penalties or late fees.
We will help you monitor and manage your cash flow.
We will show you the advantages of benchmarking allowing you to compare your business to that of your competitors, you'll be able to learn from their experiences. And know what’s working for them. We’ll show you how to use this information to make valuable decisions within your own business will show you how your business compares to previous months and years allowing you to see what your strengths and weaknesses appear.
We’ll help you create plans for improving the weak areas.
We’ll show you how to make your money work for you and to increase your comfortable areas and decrease the costly ones.
We’ll show you how to make your accounts payable and accounts receivable work to your benefit.
We’ll help you bill your clients more accurately.
Now you may be thinking the all of these services must come with a huge price tag. Actually, we have a very affordable way to provide all of these valuable services for you and to help you build your business. We’ll base our monthly fee on the size of your company so that it’s affordable to you. You'll find that our services will greatly increase your monthly profit and prove invaluable over the short-term and in the long run.
Now here are several more compelling reasons why working with us will be beneficial to you.
We're profit-oriented. Our primary emphasis is to assist you in becoming financially successful. We’ll search for techniques and strategies that will make your business more profitable.
We're convenient. We can receive and deliver your paperwork electronically and we’ll meet with you at your place of business to review.
We're accessible. You can call us anytime you need assistance because we're available to help you.
We're affordable. The fee we charge is nominal and our knowledge will increase your profits.
We're knowledgeable. we have access to resources that allow us to answer all of your financial questions.
And we are goal-oriented. We want you to come more successful. When you're successful, we're successful.
We can give you the keys to unlock your business’ is true potential. Give yourself the advantage of having a qualified professional financial professional at your side, advising you on the best ways to improve and expand your business. So, contact us today and let’s discuss ways in which we can help you and your business become more profitable.