For Start-up businesses
- Set up accounting processes and procedures
- Create and customize a Chart of Accounts to closely fit the new business entity
- Create financial statements such as Balance Sheets and Income Statements
- Create the process and procedure of pulling together the General Ledger from which to draw the financial statements
- Provide on-site financial analysis of financial statements and market opportunities
- Set up procedure for recording accounting transactions
- Write Desktop Operating Procedures for accounting process personnel
- AR – train how to record and match cash receipts
- AP – train how to match, pay and archive invoices; train how to manage check-writing
- Credit – establish appropriate selection criteria for issuing credit
- Collections – set up procedure to collect from customers including how to handle complaints and refusals to pay
- Payroll – set up procedure to deal with forms 940 & 941 and other tax forms
- Set up payroll timekeeping forms and how to match to shop floor labor
- Develop/execute a long-term financial plan, including pro forma financial statements
- Insurance – set up and create a maintenance plan for Worker’s Compensation, Property and Casualty coverage and Business Liability insurance
- Set up simple bookkeeping using either QuickBooks or PeachTree accounting software, whichever is most appropriate
For On-going concerns
- Perform financial or operational tasks as needed to solve immediate problems while creating and implementing long-term solutions
- Reconstruct financial statements from canceled checks and bank statements
- Handle banking relations; negotiate credit line with financial institution
- Design a systematic way to deal with unsorted accounting transactions
- Improve cash flow by contacting vendors and arranging an adequate repayment plan
- Analyze selling transactions to determine actual realized margin for each product line
- Create a customized inventory management system
- Perform financial analysis on pricing and costing issues
- Build financial pricing model
- Create reasonable specifications for shop floor reporting software
- Train production operators how to report shop floor activity
- Link job estimates to actual job production performance
- Establish workable PO system that fits the business entity
- Write Policy & Procedure manual
- Teach accounting personnel how to use accounting software
- Train accounting personnel how to follow accounting and control procedures