An article in the Journal of Accountancy references a new survey that states that “Small business leaders consider their accountants to be the most important professionals their businesses use.”
In addition, the article states that “Seventy-one percent of businesses represented in the survey outsource tax preparation, and half outsource payroll.” Among being more reactive than proactive, other accounting challenges include:
- Accounts receivable/collections
- Cash flow
- Managing paperwork
- Closing the books each month
- Managing payroll
A common misconception in accounting is that a company’s tax CPA will also manage and provide support to the internal accounting functions of of the business. Add this to the list above, and it is clear that these challenges are not being addressed.
At Signature Analytics, we are proactive with our clients by streamlining their accounting processes to produce timely and accurate financial statements. This includes the day-to-day activities like invoicing and payables, the monthly close process, as well as forward-looking analysis such as cash flow.
Once these processes are established our CFOs focus on the strategic, financial analysis aspects of the business, like measurable metrics that drive profitability. The combination of these efforts help our clients move from a reactive state-of-mind to a proactive way to run their business.
We Can Help
If you need assistance in running your accounting and financials in a more proactive manner, contact us today. Our CFO consulting team is locally based and nationally focused. We can help you with this effort as well as other accounting and financial analysis needs of your business.