We want you to thrive.
The on-boarding process is structured to enable the most impact in the shortest period of time. We don’t just take over the number crunching.
We’re not just content with the status quo, with doing what’s always been done, with your company just surviving.
The process of handing off your accounting and financial processes works in 3 phases:
Phase 1.
Explore & Investigate
Step 1: Update all the Bookkeeping
Step 2: Improve Cash Flow
Step 3: Implement Oversight for Management
Phase 2:
Transition the Workload
Step 4: Document Standard Operating Procedures
Step 5: Separate the Duties: Who’s Doing What?
Step 6: Assume Responsibility
Phase 3:
Analyze the Results and Take Action
Step 7: Close Each Month
Step 8: Develop & Monitor KPIs
Step 9: Collaborative Monthly Meeting
Phase 1: Explore & Investigate
Step 1: Update all the Bookkeeping
We begin the process with bringing your bookkeeping up to date, making your numbers USEFUL to you. While we’re entering data, reconciling, and repairing, we’ll deep-clean the books and clear out the cobwebs. We’ll quickly learn the flow of your money, things like which vendors you use, when recurring expenses are due, how often payroll is run, how customers pay you, what credit cards you have, where your car payment gets sent to, and so on. We’ll order printer checks for your operating account, get a signature stamp in order to pay bills at your discretion. We’ll get your online login credentials for online banking, vendor payments, company credit cards, payroll, and everything else.
Step 2: Improve Cash Flow
Improving cash flow with some simple techniques can quickly relieve some stress and energize your entire company. Cash flow is vital for survival and we’ll immediately advise on techniques that can help you out. The trick is to speed up the cash inflows and slow the cash outflows. We’ll target collection efforts on past due customers, reduce billing times, and renegotiate vendor terms wherever we can.
Step 3: Implement Oversight for Management
Transparency is essential to our work and we want you to keep an eye on us. The Cash Report is a daily email that gives you a snapshot of how much money you really have, upcoming payments, how much you’re owed, and several other useful metrics and ratios. The main purposes are oversight and to highlight the key financial measures you need to run your business. It. You’ll have real-time, personalized financial data sitting in your inbox.
Phase 2: Transition the Workload
Step 4: Document Standard Operating Procedures
As we learn the unique functions of your business, we’ll develop and document standard operating procedures for all the accounting functions we handle for your company. In the event we part ways, we’ll leave you with a fully detailed operations manual for your next accounting team. No Risk.
Step 5: Separate the Duties: Who’s Doing What?
We’ll collaborate on separation of duties for the accounting responsibilities and then we’ll document them. Who collects the hours and submits payroll? Who takes checks to the bank? Who sends invoices? Who makes collections calls? We’ll create a collaborative matrix of the responsibilities so all team members clearly understand their duties.
Step 6: Assume Responsibility
Your entire life will change when you hand over the time-consuming, daily struggle and hassle of the company finances. You’ll gain valuable hours you need to grow your business. At this point we’ll start managing cash flow, paying the bills, submitting payroll hours and facilitating payday, sending invoices, making collections calls, and everything in between.
Phase 3: Analyze the Results
Step 7: Close Each Month
Because we’re physically doing all the work, you get our CPA-level professional experience, expertise, and efficiency. We close the books at the end of every month by performing the bank recs, confirming everything was entered where it was supposed to be, and make CPA journal entries for proper reporting. Your books will be reliable. Every month.
Step 8: Develop & Monitor KPIs
With reliable books closed timely, we give you our most valuable gift: Key Performance Indicators. KPIs are the metrics used to improve profits and enable your company to run better. They transform your business from simply surviving to dependably thriving.
Step 9: Collaborative Monthly Meeting
We meet with you on a monthly basis. Regular communication will enable you make course corrections before it’s too late, talk through upcoming opportunities, fine tune collaboration, revise goals, and ultimately make your finances work FOR you, not against you.
