Accounting services exist for more than just tax preparation. If you want advice on whether to hire a new employee or to spend more money on advertising, you want comprehensive accounting services that help you ensure the longevity of your company. With quality accounting services, you will know exactly how much you will pay in your taxes, where to save, and what to expect at any stage of your business.
Many small business owners love their work but struggle with the financial side of their business. They know their approximate revenue but struggle to track their expenses. At the end of the year, they are often shocked at how much they spent—or how much more they could have spent to grow their business. To save money, pay less in taxes, and ensure your business’s future, it’s best to plan ahead. Knowing where you stand will help you to get where you want. With monthly/quarterly financial planning, you can plan your revenue and expenses ahead of time.
Cash is the blood of your business. If you do not have cash, your business simply cannot function. Your job as to a business owner is to keep the cash coming, but many business owners struggle with interpreting complex general cash flow reports. With Accounting One you get an understandable cash flow report customised for your business. The cash flow report will show not only income statement items but also your loans, vendors, accounts payable, credit card loans, tax payable—pretty much everything. We can create a schedule of your payments and ensure that nothing is overlooked. Plus, you’ll know how much cash you have at any point.
Everyone can use a second set of eyes. It’s always better to have someone review your bookkeeping/accounting files. You should certainly trust your bookkeeper/accountant, but outside services can often create better reports that are easy understand. We can work with your bookkeeper/accountant to ensure you receive the best results at the end of the year—all catalogued in crisp, easy-to-follow reports.
Budgeting is a basic and essential business practice. Similar to financial planning, budgeting can help you predict your revenue and expenses based on your business structure. For example, if you run a construction business, the summer will be busy for you, meaning you’ll have more revenue and expenses than during the winter when business is slower. A budget can show you if you are over or under spending each month/quarter, allowing you to adjust your business activities accordingly.
Do you ever want to take a vacation but you are afraid that the business will fall through without your knowledgeable eyes? If you have a staff of two employees or more, we can step in and give you time for your desired vacation or leave. We sit down with your employees to see if they can handle the additional duties, and then we slowly implement so you can have some stress-free time off.
Do you know how much one unit of your product costs? Do you know how much it costs to sell a unit? Do you know how much your actual time costs? When you run a business, creating a revenue stream is crucial to success, but small business owners sometimes overlook costs per unit, hindering future growth. For example, if you are producing a tile, the actual cost of tile would be the clay, polish, and paint. But the tile cannot sell itself. You have to incorporate the price of the warehouse, the showroom, the sales person, and the shipping in your calculations. Ignoring these factors will always result in net losses.
In addition to everything above, we also offer a CEO services. CEO services are a step above traditional accounting services and are provided only by Olesia Kloster at this time. Accounting services can help you make a decision—CEO services will make the decision for you. With years of experience in the accounting field, we know what to watch for. No matter if your business is starting out or going to public, we can ensure your business reaches the next stage of success.