It’s a fact: Working with a business advisor dramatically increases the odds of success for your business.
And with 50% of businesses failing in their first five years (Source: SBA), it just makes good business sense to find ways to increase your chances of success with your business.
Finding the Perfect Blend of Accounting Skills and Expertise
Every business is different when it comes to the type and level of accounting services needed. Some small businesses may only need bookkeeping services, while others benefit from many layers of accounting skills from bookkeepers to Chief Financial Officers.
If your business is in the small to mid-market range, it may not make sense to have a full-time CFO, a full-time controller, and multiple bookkeepers with all the full-time salaries and benefits in your accounting department.
The good news is you can still get the advice of these high-level accounting skill sets while paying only for what you need. We work with business owners like you to create a customized package based on your company’s unique accounting needs.
Having the right accounting system can make all the difference in the world. We’re familiar with many accounting software options and can help you find the best fit for your business. If you’ve outgrown your current solution, we can help you manage the transition without missing a beat.
One secret in boosting accounting productivity is to make sure your accounting software is set up and customized correctly. We learn your requirements so we can tailor the accounting software to your business and reporting needs. Plus, we can train your staff on the new system so they can be up and running in no time.
• Accounting System Selection, Setup, Customization and Training
• Workflow Efficiencies
• Streamlined data gathering and entry
The accounting function is necessary in every business, but it shouldn’t be cumbersome or inefficient. We can take a look at areas within your accounting system that are costing you more than they should be. These could include areas of duplicate data entry, time spent on manual reports, and bottlenecks in general. We’ll suggest improvements that can save you time and money and keep your bookkeeping bill as low as possible.
Are there any areas in your accounting functions that are undocumented? We can help you write a procedures manual for those areas. Good documentation is the key to good training, consistency, and controls.
Let Hughes Walker Group suggest efficiency recordkeeping workflows for some of these key elements of your business:
Do you wonder which product or service line is the most profitable for you? We can perform an analysis of profitability by location, product, employee, or whatever grouping is meaningful for you. This information will help you make better decisions about your revenue mix and make your business more profitable in the long term.
While most accountants stick to cursory expense reviews, we prefer to go deeper. We can help you identify costs that may be outside your industry norms, discover areas where your pricing might not cover your costs, and root out profit margins that should be higher.
If you maintain inventory in your business, we can help you lower carrying costs, determine out-of-stock conditions, and identify obsolete items.
Is your business project-based with job costing requirements? We can help you make sure it’s set up right, help you create more accurate estimates, and accelerate cash flow with timely progress billings.
We go beyond traditional services by providing:
• Monthly financial reports (Profit & Loss, Balance Sheet, and Cash Flow)
• Regular business reviews (Either monthly, quarterly, or annual)
• Industry related key performance indicators to call attention to financial issues and inconsistencies
• Cash flow projections
• Loan package creation
• Budgeting and forecasting
• Profitability Analysis
It can be difficult to find advice when you are in business for yourself. As a fellow small business owner, we can act as a sounding board for your business ideas and provide a fresh, experienced perspective. We can serve as an unbiased listener for your ideas and concerns.
There are so many benefits to hiring a bookkeeping company to take care of your books.
• Peace of mind
• Relief
• Better business insight
• Tax time is a little less taxing
• More profits
• Focus
How to Get Started
How to Get Started – The perfect synergy between a business owner and the accounting team occurs when two things happen: 1) the team gains a deeper knowledge about your specific business, and 2) the business owner grows in their financial knowledge about their business. This is when the magic really starts to happen for the business, and it improves over time.
Our goal is to become a true partner for your business by providing you with the right mix of accounting services for you and your business. To take the first step, schedule a consultation or email us.
