Fill this significant hole in your organization chart. Most small businesses have a bookkeeper and a tax preparer. You probably do. But you may not have a Chief Financial Officer (CFO), a top level manager who reviews and provides the overall analysis and strategy for financial success. Leslie can fill this need for your company, acting as your part-time CFO. Discover the benefits of outsourcing this critical position (see below).
Clean-up, Review and Create Operational Self-Sufficiency
Are your books a mess? Does your financial statement tell you what you need to know or are you running your business by the seat of your pants? Many companies have excellent bookkeepers who are great at entering data, tracking payables and receivables, producing checks and creating invoices. However, without a strong background in accounting or the accounting software (such as QuickBooks or Sage 100 Contractor), they may need assistance in understanding the reasons behind their process or how to analyze the output.
Leslie can help you complete an internal financial statement audit – to gain confidence that your financial statements are accurate. And the unique nature of Leslie’s consulting is that she teaches and empowers both business owners and bookkeepers to take responsibility for the accuracy and effectiveness of the financial statements. Leslie’s goal is to not just fix the numbers, but teach you how to avoid common mistakes and be confident that you can create your own accurate financial statements.
Software Training and Troubleshooting
There are novice software users, advanced users and power users. Learn the tips and tricks of either Sage 100 Contractor or QuickBooks to become a power user. Leslie can help you find the solutions to match your unique informational and data needs. Spend the time and energy to make your data flow more efficient – it will save you time and money in the long-run.
The Fractional CFO – Steps to Better Financial Management
The ShinerGroup offers a Fractional CFO program to improve your financial management which includes a monthly remote meeting (approximately 2-2½ hours.) During these meetings, we will review your Financial Statements, analyze your profitability, and improve your processes. Our clients appreciate this because as small businesses, they cannot afford (nor need) a full time CFO. Yet, the CFO function is a crucial function in any small business. The cost of this service is $600 per meeting (monthly or quarterly.)
Some of the topics covered include:
- Analyze trended Profit and Loss Statement
- Evaluate profitability, gross and net
- Evaluate overhead and markup
- Review fully burdened labor costs
- Review process for job costing process for labor and materials
- Analyze Business Plan, review Mission Statement and Vision Statement
- Perform ratio analysis
- Create operating budgets
- Create Key Performance Indicators (KPI) metrics specific to your company
- Review internal controls
- Create and manage a cash flow projection
- Investigate productivity reports and charge-out rates
- Measure and analyze nonproductive time
- Reconcile your books to latest tax return
This ongoing service provides:
- Better manage your business using the numbers
- Learn what you are doing right and what can be improved
- Produce correct and meaningful financial statements
- Produce correct and meaningful job cost reports
- Know where the numbers are coming from and understand what your reports are saying
- Determine path to increased profitability and measure progress along that path