Frequently Asked Questions

How does insufficient accounting hurt my bottom line?
Many small and mid-sized businesses fail to adequately measure and manage their finances, even though poor financial management is a major cause of business failure. If you don’t have good financial practices in place, your business could suffer in a number of ways:
-Lost revenue
-Insufficient tax planning
-Missed financial opportunities
-Penalties and fines Closing your doors

What does the monthly accounting process look like ?
Our monthly accounting process starts with timely receipt of your source documents. Our staff compiles the information and reports back to take back control of your finances:
-Monthly profit and loss statements
-Monthly balance sheets
-Perform regular account reconciliation
-Offer advice based on your financial statements, tax planning, and your business operations.
-We also include Audit representation for added security.

How much does monthly accounting cost? What factors go into the pricing?
Pricing for our monthly accounting services varies by your company’s needs. It is not based on the size of your company, rather your company’s accounting activity and the complexity of your financial statements. 
Our monthly accounting fee starts at $800 per month. Depending on the above factors, your fee can range between $800 to $2,000+ per month. We will work with you to arrive at an affordable, fixed monthly fee.

What tools do you need to perform a monthly close?
Many economical easy to use accounting systems are available by subscription (i.e., QuickBooks Online and Intacct). They come with a pre-populated chart of accounts which can easily be adapted to a company’s industry or organization structure.

How long does a monthly close take?
It depends on the size and scope of your operations and the number of accounting staff. The time to complete your close is also dependent on the number of monthly transactions and whether or not you take advantage of automation to import data into your financial system or need to prepare and enter manual journal entries.

Which Dashboards/KPIs (Key Perormance Indicators) should a company use?
There is no one size fits all when it comes to financial dashboards and KPIs. Dashboards and KPIs need to be curated based on the user and their goals. A well thought out dashboard with KPIs enables leadership to make confident, smart, and timely decisions supported with meaningful information. A brainstorming session with the key stakeholders and/or users in determining the meaningful dashboards/KPIs is extremely important first step.