Outsource Accounting Tasks To Us Instead of Using Expensive Internal Accountants

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By Amitaabh Saboo

Do you know the language of business? Accounting is termed as the key language of business by many people. Without adequate accountancy knowledge, skills and experience, your business performance and monies will be difficult to track. Nowadays many entrepreneurs are not able to study and manage their businesses at the same time. They are taking advantage of outsourcing. When entrepreneurs outsource accounting, they shift their difficult responsibility to an outsider, who has nothing to do their organizations. Both of them form a contract that defines the scope of service delivery, terms of payment, task deadlines, methods of service delivery and many other parameters.

Since managing your company is hard enough, you may also want to outsource accounting to a reputable firm near you. An accountancy firm is an independent organization that employs thousands accredited and qualified accountants. It has a remote data entry centre that accommodates its employees. The arrangement involved in outsourcing is quite different from a normal recruitment process. Your company and an accountancy firm of your choice will get into a business deal that does not involve any employment terms. The firm will get your accounts books balanced and you will pay the agreed rate to return the favor.

As you can clearly see, entrepreneurs who outsource accounting tasks to an autonomous service provider, avoid the hassle and stress of recruiting new accountants. Would you not want the same thing? Another cost you can avoid is that of training or retraining new or existing staff. Software development technology has greatly advanced these days, and new accounting software products are cropping up quickly. The cost of training your accountant on how to use new accounting software can be higher than the cost of assigning your daily tasks to an external accountancy firm. When you outsource accounting, you are given an opportunity to choose among different accounting software programs.

An outsourced company already has many professionals who know how to use software at no additional cost on your part. What’s more, you get to choose when you want to contract out and when you want to do the job personally. After ending a contract with an independent outsourcing company, you can decide not to form another contract until you are financially. On the contrary, keeping an office employee denies you the pleasure of not paying any monthly wages when your business is not getting enough contracts. It is therefore convenient and cheaper to outsource accounting than to do the job yourself. In addition, when you assign a task to a remote contractor, you can free your office space by dismissing redundant staff.

This will help you channel the money you would otherwise pay as monthly salaries to other profitable departments of your company. For instance, you can do more advertising and marketing in order to attract more customers. While looking to outsource accounting, it is advisable to use a registered company with offices in your country. For instance, if you live and do business in the USA, you should locate a company that has head offices in the US. This way you will know that you are protected by the laws of your country. Additionally, it makes you feel secure and confident when passing your business data over the internet. To be completely successful, you should outsource accounting tasks to a trustworthy company that has diligent and qualified employees. Outsourcing accounting improves financial operations as well as increased the level of efficiency, adaptability and ability to wok with the market conditions while at the same time curtailing risks and costs.

Article Source: http://EzineArticles.com/?expert=Amitaabh_Saboo

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Ask us for help – we provide on-site and remote accounting and controllership services.

Visit our website www.desmidtconsulting.com to learn more about our business.

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

 

About Virtual Part-Time Controller Services

Business meeting

By Lisa Khayyat

If you want to stay on top of your finances, but do not want to hire a full time controller – why not consider a “Virtual Controller”? A virtual controller performs most, if not all, of their services online. They can provide basic services to more advanced services. Services are negotiated up front depending upon the client organizations specific requirements.

A Virtual Controller can provide management valuable financial oversight, advice and customized financial reports that provide real value to their businesses decision making. Business owners can focus their attention on growing their businesses and achieving their operational objectives.

Here are some of the ways that a Virtual Controller can assist your business:

1. Guide you through the start up process and assist in getting your accounting system set up correctly in QuickBooks.

2. Train your bookkeeper, accountant, or other assistant in the proper accounting procedures for your particular business.

3. Work with your bookkeeper or accountant on a monthly basis to ensure that transactions are recorded correctly and records are kept up to date. (The virtual controller Is also available to assist the bookkeeper if problems should arise.)

4. Offer guidance in the budget planning process and provide guidance on budget-to-actual analysis.

5. Discuss project or department profitability on a monthly or quarterly basis.

6. Prepare fixed asset depreciation schedules on all equipment and keep the list current with new purchases.

7. Teleconferences scheduled monthly or quarterly with management to discuss results of operation as well as other business decision making issues as necessary.

8. Provide tax planning strategies to business owners.

9. Individual & Business Income tax preparation.

10. Documentation of Policies & Procedures.

11. Assist with the acquisition of a business. (due diligence)

12. Assist in exit planning or the sale of a business.

The move to virtual controller services has become more accepted in the business world over the past few years. And for a fraction of the cost of a full time employee, a small business can have the Controller function filled by an experienced professional.

Article Source: http://EzineArticles.com/expert/Lisa_Khayyat/482056
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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Ask us for help.

We provide part-time offsite and onsite Controller, CFO, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to learn more about how our CFO and Controller Services may be able to help your business.

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Our QuickBooks and Enterprise Setup, Implementation, Training and Support Services

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We provide QuickBooks and Enterprise help,  installation, set up, accounting, training, support, troubleshooting, implementation, consulting and controller services to small and medium sized businesses.  We also provide small business consulting  services to include cost control, financial systems, staff training, treasury  management, revenue and expense analysis, inventory management, and small business turnaround services.

You will always work with the same person at our firm; Peter has over 45 years of experience in Accounting, Systems and Business Management; he has been an Accounting Instructor at Mercer University and Georgia State University; and is a Certified QuickBooks Advanced ProAdvisor.

We are headquartered in the Tampa Bay South Shore area, and serve the metro area, and remotely serve Florida and the US.

Our Services Provided Include:

  • Monthly Accounting Services
  • Accounts Payable and Receivable Management
  • Financial Statement Preparation
  • Cash Flow Analysis and Management
  • Inventory Management and Control
  • Fixed Assets Reporting
  • Bank Reconciliations
  • Payroll Tax Compliance
  • Variance Analysis and Reporting
  • Revenue and Expense Analysis
  • Staff Training and Utilization
  • Business Consulting and Guidance
  • Accounting Systems and Controls
  • Financial Analysis and Reporting
  • Budget Preparation and Reporting
  • Treasury / Cash Management
  • Software Selection and Implementation
  • Software Training and Support
  • Controller and CFO Services
  • Virtual, Part-Time, and Outsourced Services
  • Cost Control / Cost Management Consulting
  • Accounting Software Training and Support
  • Strategic Planning and Consulting
  • Business Planning and Forecasting
  • Policies and Procedures
  • Defining Job and Project Cost Elements
  • Creating and Customizing Reports

QuickBooks is a user-friendly and easy to use system, provided the initial set-up is implemented properly.  In fact, the majority of QuickBooks problems discovered after implementation stem from improper initial set-up.  Get started on the right track, by working with us, and avoid costly problems in the future. You will receive a QuickBooks file customized for your business based upon the information that you provide.

Here’s a list of the services that we can provide during your QuickBooks setup:

  • Evaluate your software requirements and overall accounting needs
  • Determine your accounting and QuickBooks software needs
  • Recommend the appropriate QuickBooks software and establish hardware requirements
  • Software installation and set-up
  • Design and set-up the chart of accounts and the entire accounting system– including payroll, accounts receivable, inventory, and accounts payable
  • Determine your QuickBooks start date
  • Customize the chart of accounts for your business and load balances as of your start date
  • Customer and vendor set-up
  • Item set-up including services, inventory parts, non-inventory parts, other charges and sales-tax items
  • Set-up your outstanding accounts receivable and accounts payable details as of your start date
  • Set-up your ending statement bank balances and outstanding checks & deposits in transit as of your start date
  • Enter your transactions since your starting dates into QuickBooks
  • Print a trial balance as of your starting date and compare it to your trial balance from your old system
  • Train your staff in use of software to meet your accounting, management and tax-reporting needs
  • Follow-up training to ensure you are on the right track
  • Monthly, quarterly or annual review of QuickBooks to assist in tax preparation and management reports

Why our one on one training is the way for your company

  • Training at your location, a quiet restaurant, or via shared desktop at a time that is convenient for you – including weekends
  • Work on your live QuickBooks file
  • Training is based on your skill level, and at your pace
  • Focus on QuickBooks features that are relevant for your business
  • Get answers your specific questions and concerns
  • Training implemented in one to several 3 to 5 hour intervals – spaced over time

While a one-on-one instructor-led QuickBooks training class is more expensive than attending a group class, it is a good investment when you have specific QuickBooks issues to solve or you need to get QuickBooks started in the right direction with your QuickBooks accounting and bookkeeping needs. I can help you figure out the best solutions for your particular QuickBooks accounting issues, and give you a strategy for how best to pursue your short-term and long-term goals for your business. Getting off on an ill-directed path in QuickBooks accounting can be very costly in the long run; getting the right professional advice from the start will certainly be well worth the investment.

We can train on Pro, Premier, Online, industry-specific versions and Enterprise versions of QuickBooks.  Our one-on-one training is customized for your business. Email us or call us – to  schedule your implementation / training / support services to learn more,  and to discuss your requirements.  Free initial telephone consultation. Evening, weekend, and daytime telephone consultation appointment times are available. We would welcome the opportunity to work with you.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com to learn more about our business.

Visit our mobile website http://www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

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Benefits Of Retaining Us To Perform Your Part Time Controller and CFO Services

Four businesspeople in boardroom talking

Small and medium-sized companies that are not in a position to hire a full-time Controller or CFO are often the companies that would benefit the most from the expertise of an experienced Controller or CFO.

We can take complete responsibility for the financial side of your business, or we can function purely as your part-time / virtual Controller or CFO, optionally, managing your existing accounting and bookkeeping staff. Every business and situation is different.

We can work with your accounting and bookkeeping staff, attorneys, bankers, insurance brokers and tax preparers at a fraction of the cost of a full time employee.

Outsourcing to us will reduce and control your internal operating costs, allow you to gain access to extensive additional capabilities, and allow you to focus on managing your business.

We are seasoned professionals and have the experience, expertise, education and qualifications to be your part-time / virtual / on-going Controller or CFO.

The types of services that we can optionally provide include:

•Monthly Accounting

•Accounts Payable and Receivable Management

•Financial Statement Preparation

•Cash Flow Analysis and Management

•Inventory Management and Control

•Fixed Assets Reporting

•Bank Reconciliations

•Tax Return Preparation

•Payroll Tax Compliance

•Variance Analysis and Reporting

•Activity Based and Job Costing

•Revenue and Expense Analysis

•Staff Training and Utilization

•Business Consulting and Guidance

•Accounting Systems and Controls

•Financial Analysis and Reporting

•Strategic Planning and Consulting

•Cost / Revenue Benefit Analysis

•Budget Preparation and Reporting

•Financial Forecasting and Modeling

•Treasury / Cash Management

•Negotiations for Financing and Operations

•Reorganizations, Mergers and Acquisitions

•Develop and Analyze Business Plans

•Software Selection and Implementation

•Software Training and Support

•Preparation of Policies and Procedures

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk and work with you on a regular periodic basis.

We have over 45 years of Accounting, Management and Systems experience. Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com to learn more about our business.

Visit our mobile website www.DeSmidtConsulting.mobi

Read about us on LinkedIn http://www.linkedin.com/in/peterdesmidt

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt,

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Prepare For Year End With Our QuickBooks File Review and Analysis Services

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If you are having a difficult time with your QuickBooks, your monthly or annual reports, your chart of accounts, your understanding of your financial reports, or you have felt like you did not get off on the proper track with your QuickBooks setup, we can help.

Our QuickBooks Certified Advanced Pro Advisor, CFO, Controller and Accountant, Peter DeSmidt, will remotely perform data file review, analysis, corrections, and journal entries, of your company data file.  Act now, save money, time, and insure accuracy, on your current year, and year end, by having your QuickBooks file professionally reviewed and analyzed.

For a $400 fee we will

  • Correct postings to incorrect accounts
  • Review and analyze the company file
  • Review the company setup and make recommendations as needed
  • Insure items, fixed assets, sales tax, and chart of accounts are set up properly
  • Fix unapplied customer and vendor payments and credits
  • Review customer and vendor aging balances
  • Correct undeposited funds accounts
  • Adjust loan and credit line balances
  • Write off customer bad debts
  • Clean up stray entries
  • Locate discrepancies in bank reconciliations
  • Review and scrutinize your transactions for the year
  • Discuss your business operations, accounting requirements, and reporting needs with you

This service is for QuickBooks 2016, 2017 and 2018 Pro, Premier, Online and Enterprise (separate pricing) editions.  We will work with your accountants copy or portable copy and not interrupt your ongoing work and reply back to you, via email, with known issues, corrections and recommendations.  Not a long term commitment.  Even if you have an accounting and tax preparer firm, we can help.  We can also provide optional training, reporting, analysis, CFO, controller, coaching and hiring assistance. 

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of Accounting, Cost Accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons.

Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Ask us for help.

Email us or call us – to schedule your review and analysis, to learn more, and to discuss your requirements.  Free initial telephone consultation. Evening, weekend, and daytime telephone consultation appointment times are available. We would welcome the opportunity to work with you.

Visit our website www.desmidtconsulting.com

Visit our mobile website http://www.desmidtconsulting.mobi

Contact us http://www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our QuickBooks services; or to set up a file review and analysis service.

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Unsure of Your Company’s Accounting Software Needs? Hire a Consultant

bus acctg services

By Susan Slobac

The profession of accounting is almost as old as civilization itself, but  long gone are the days of counting shells in Mesopotamia or keeping tablets in  Rome. Even the pencil and paper ledgers of just a few decades ago seem like an  ancient memory. The digital age has brought about the fast and efficient  computer accounting software that most companies have come to rely on for record  keeping and management of their daily business operations.

A quick Internet search for “computer accounting software” yields a  staggering array of results. There are countless options available from familiar  names such as QuickBooks, Peachtree, Sage MYOB, BusinessWorks and many more. With so  many to choose from, how can you tell which is the best selection for your  unique business?

This is where an experienced accounting software consultant can be an  invaluable asset. As seasoned professionals in the bookkeeping, finance and  technology fields, these advisors work with various companies and organizations  to determine effective solutions. Your consultant will walk you through the  entire process, from planning and implementation to training and support.

First, he or she will sit down with you to discuss your accounting goals.  Perhaps your motivation is to improve the company’s bottom line, streamline  shipping procedures, eliminate confusion in the human resources department, or  all of the above. Then, the consultant will help you select the software package  that most closely resembles your needs. For instance: a small restaurant that  simply desires to run more efficiently may do just fine with QuickBooks.  However, a large shipping corporation that wishes to expand internationally may  require a full MAS 90 or MAS 200 conversion. Your accounting software consultant  will ensure your business has all the tools it needs to succeed without becoming  bogged down with unnecessary extras.

Next he or she will assist with the implementation of the new software, as  well as the migration of important data from the old system to the new one. This  important step ensures account details, customer information, transaction  history and other crucial data is kept safe and accessible.

Training and support round out the benefits of hiring a consultant. Not only  can this professional provide detailed instructions to help you and your staff  thoroughly understand how to use the new software, he or she will also offer  ongoing technical support to answer any future questions and resolve issues that  may arise.

With so many accounting software choices out there, hiring a consultant to  help guide your selection can ensure a smooth transition from old methods to  new, efficient solutions.

Article Source: http://EzineArticles.com/?expert=Susan_Slobac

Article Source: http://EzineArticles.com/4585176

We have over 45 years of Accounting, Software, Management and Systems experience. Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Ask us for help – we provide small business accounting, business advisory and software consulting services.

Visit our website www.desmidtconsulting.com to learn more about our business.

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt.

 

The Fractional CFO Concept

The idea of fractional or part time use of a valuable resource has been around since the 1960s. It was pioneered by the vacation real estate industry when a French ski resort owner recognized few people could afford, let alone needed a resort condominium for all 52 weeks of the year. He addressed this challenge by dividing every room into 52 separate units of time.

Using the slogan “stop renting a room, buy the hotel” he launched a worldwide marketing phenomenon we now know as the time-share industry. Units were sold to different owners, each of whom purchased the full use and enjoyment of the week that best suited their schedule, and at an affordable price. If a buyer needed more than one week a year, they bought as many units as they wanted. And while other “bells and whistles” have been added through the years, over 4 million American families now own at least one vacation timeshare.

The concept of a fractional CFO is no different. Most business leaders recognize the need for trained, experienced financial expertise on their management team. Many simply do not need a full time CFO. Therefore, they cannot cost justify the investment of a full time salary. Even if an owner or manager has the required skill sets, a professional CFO can likely generate a superior work product in less time. This in turn frees up the most valuable and scarcest resource of all, TIME!

No successful entrepreneur ever launched a business with the intent of spending all day analyzing balance sheets, determining marginal profit contribution, dealing with bankers and tax accountants or addressing regulatory inquires. They launch businesses to exploit competitive advantage in their chosen field by servicing customer needs. Any time spent “working on the books” is time away from their real mission and a costly distraction from their value proposition.

Retaining a fractional or part-time CFO or Controller presents a cost effective solution customized to a business’ exact needs, budget and life cycle. The key to a successful fractional CFO relationship is to design and staff that engagement with a professional who will understand your business and address your financial needs. They must also become an integral (if part-time) member of your management team. Your fractional CFO should meet with you to tailor an affordable program to address your specific business needs. Together, you will establish a regular schedule of dedicated time to service those needs. That schedule can vary from just a few hours per month to several days per week, and can be adjusted as future needs require. You the client can typically terminate your fractional CFO at any time and for any reason without incurring additional costs, just as you would if you had hired a full time employee.

Frequently Asked Questions
•What exactly does a CFO do, and how does that change if I use a fractional CFO?
The chief financial officer or CFO is the person primarily responsible for managing the overall financial operations of an organization. This position is responsible for planning, cash flow management, record keeping, financial reporting, etc. The only difference between a traditional CFO and a fractional CFO is the nature of their relationship to the business. While a CFO is full time officer and employee, a fractional CFO is a part-time, independent contractor. However, their duties and responsibilities are virtually identical.

•Will I retain a fractional CFO for a one-time assignment, or will they continue to provide on-going services?
Occasionally, a client will request that that their fractional CFO provides services for a one-time, special project. The CFO will likely endeavor to accommodate all client needs. However, their primary focus will be on providing on-going fractional CFO services, including the development, implementation and monitoring of a long-term business plan. While the time allotted to this process can be adjusted and even reduced as initial objectives are met over time, it is a continuous process that typically requires some effort at least monthly.

•How much should I expect to pay for my fractional CFO?
The cost of fractional CFO services are primarily determined by only two things, the number of hours spent on an account, and the billing rate of individuals providing client services. Barring temporary or emergency situations, a reputable fractional CFO firm will endeavor to staff assignments using associates with skill sets and experience appropriate to your needs. Ultimately, they will provide the level of service you determine based on your needs and within a budget determined by you. Your schedule can vary from just a few hours per month to several days per week, and can be adjusted as future needs require. Typical clients should expect to spend from $500 to several thousand dollars, per month, depending on their needs.

———————

Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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Getting a Rein on Organizational Functions With The Expertise of a Virtual Controller

Young speaker at a business meeting giving a presentation.

By Shoni Priyanka

Staying on top of one’s finances and working the way through budgetary restraints and defined deadlines can be one of the most daunting challenges for startup companies and other organizations. While taking care of all the issues concerned with the nature of the business, owners and management officials often find themselves at their wits end as they go about controlling all the documentations connected with financial transactions, banking formalities, accounting and taxation procedures, budget planning and other conciliatory activities which require time, energy and knowledge resources.

Under the circumstances, it certainly helps to have an external controller who takes over the responsibilities of managing the basic as well as advanced functions and processes and helping the organization work in smoother fashion.

Who exactly is a virtual controller and what is the periphery of his services and scope of work?

Well, if you do not want to employ a full time controller in house for reasons connected to finance restraints or work culture prevailing in the organization, you would consider going in for the services of a virtual controller – who works online and guides you by providing valuable management insight, customized and well prepared financial reports and value added services in the field of business decision making.

Some of the common ways in which an external expert can assist in controlling the different aspects and functionalities of your business organization are as follows:

• He / she is an experienced agent who can hold your hand and guide you through all the formalities of setting up your accounting system and package and set up the same as per your customized needs and requirements.

• As your business accounting procedures may go through certain changes after the employment of an external controlling firm or agent, they help the existing in house staff get used to the changes in the processes and also train them to use the same.

• If you already have a bookkeeper in house, then the controller co-ordinates the various processes of recoding and reporting financial transactions and makes sure that the work is done accurately and in a timely fashion. He also helps the bookkeeper in the event of any unprecedented problems or issues arising in the course of account management.

• They give adequate time to discuss the various ongoing and other pipelined projects and share their knowledge ad ideas on the department’s profitability as well as the feasibility of the various activities going on in the organization.

• Apart from fixing the asset depreciation schedules for equipments, taking stock of all the assets and liabilities and keeping a close eye on the current purchases, accounts receivable and payable, a controller also helps in tax preparation and filing of returns.

• They go a long way in planning out the strategies, helping in the documentation of procedures and policies, assisting with mergers and acquisitions and planning solutions for various issues connected with any unprecedented events which may arise in the course of the business.

The services of a virtual controller are exhaustive and cover a wide gamut ranging from the basic to most advanced functions. Cost effective and highly experienced, they help businesses get a controller function without locking up any infrastructural and other in house resources.

Article Source: http://EzineArticles.com/?expert=Shoni_Priyanka

Article Source: http://EzineArticles.com/8008926

We provide virtual and onsite Controller and CFO Services to small and medium sized businesses.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Standard Cost Accounting in Determining the Estimate Versus Actual

Business meeting

By Victor Viser, Ph.D.

Cost accounting in manufacturing answers the simple question: “Am I making money on this job, and if not then why not?”. Cost accounting is a bridge between financial and management accounting and is a technique used to address the demands of both. It is a systematic application that takes all events in the supply chain and translates them into financial values for analyses by various people both inside and outside the company operations. The most important results of the analyses are findings by which management can reduce manufacturing costs while improving profitability, especially in the multi-sequence operations of manufacturing. While there are several ways to approach cost accounting (e.g., activity-based, throughput, etc.), the generally accepted accounting principles most in line with manufacturing operations are standard cost accounting and weighted average cost accounting. In both standard cost and weighted average cost accounting, managers can best assess production profit results as they are related to a formula for the “standard cost” of manufacturing a product.

In general terms, the computation of manufacturing cost involves many methods and techniques to define the components of cost, as well as determining what will be the basis of cost measurement such as historical cost, market value, and/or actual cost. For managers, the simple point of cost accounting is to determine why production costs are different than what they were planned (or estimated) to be, and then to take the appropriate corrective action. In an integrated enterprise resource planning operation (ERP), where work orders, shop floor routers, and travelers define the job sequencing for a generated sales order, each aspect of the sequence is reviewed in terms of actual versus estimated cost to attempt to discover those production steps than are deviating the most from the planned cost. In focusing so closely upon the production sequence, each and every step can be macroanalyzed in terms of cost as it is related to variables such as volume of output, material, and labor time for production.

For example, to discover actual versus estimate discrepancies in a particular work center or production sequence, management can look to things such as scrap piece counts, set-up times/cost, and material costs as they concern specific sequences. As such data is accumulated, it is easier to come to an understanding as to what specific aspect or sequence in production is costing more than the estimate, and why it is doing so. For those manufacturers utilizing more robust ERP software systems, managers can quickly and easily see actual dollar costs against individual production activities, as well as finding opportunities to streamline operations and reduce costs. If needed, as a result of cost accounting a manager can even determine whether they should eliminate the entire production activity, especially if there is no value added or profit to be made.

With accurate and regular job cost accounting facilitated by ERP software, the modern manufacturer gains a competitive edge through the routine maintenance of cost efficiencies. Indeed, as corrections, as a result of cost accounting, are made in the production system to alleviate inefficient or non-profitable sequences, actual costs come into closer alignment with estimated costs, and in doing so provide a more predictable bottom-line.

Article Source: http://EzineArticles.com/?expert=Victor_Viser,_Ph.D.

Ask us for help.

We provide part-time offsite and onsite Manufacturing Cost, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, QuickBooks Training, Accounting, Cost Accounting, Controller and CFO Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

QuickBooks Certified Online ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist.

Microsoft Great Plains Authorized Real World Consultant.

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Strategic Planning for a Small Business – Overcome the Challenges

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WHY PLAN?

Things are ok. But how do you know you are thinking BIG enough? Are you leveraging the strengths, interests and talents on your team? Will you wind up in a place that will make you happy? What exactly is the best game plan? It is not that you haven’t been thinking about these questions. The business environment is complex and the choices are daunting. How do you answer the hard questions?

For the same reasons that pilots use maps when they fly cross-country and chefs follow recipes, it makes good sense to work towards organizational and personal goals with a written plan. One can operate without a plan, and many do, but the results probably won’t be optimal.

A strategic thinking and planning process can help to create a framework where you take control of the business, instead of sitting back and watching the business taking control of you. For many, the process of planning (thinking, discussing, researching and analyzing) is even more useful than the final plan. A planning process can help to sharpen a vision, evaluate alternative paths, build common understanding and commitment, balance dreams with reality, and transform uncertainty into action.

SOUNDS GOOD BUT MOST SMALL BUSINESSES DON’T PLAN

Although there is a lot of research correlating success with planning, it probably won’t surprise you that the majority of small businesses don’t have a written strategic plan. The reasons why are varied but some common themes include: “It’s not the best use of my/our limited time”, “planning takes away flexibility”, “there are too many uncertainties”, “we have a business plan”, “building consensus is too difficult”, and “it will cost too much”.

These are all real concerns, especially to the small business owner. The dichotomy is that the very reasons why organizations avoid planning are the same reasons that planning can be so effective. Let’s take a look….

TIME- “We are so overwhelmed – hiring, making sure our customers are happy, getting new products out – we just don’t have time to think about next week, forget about next year. Somehow, the future will just have to take care of itself.”
Thinking versus action provides a dilemma for many professionals. We are action oriented. When we are doing something, we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we’re headed, it is likely we won’t get there.

When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

FLEXIBILITY- “We like to stay open to opportunities as they arise.”

Creating a strategic plan doesn’t mean that your business can’t be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

Out of strategic planning come decisions like: “we will approach this target market, not that one”, “we will offer these products or services, not those”, “we will accomplish this objective before anything else.” Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

“We have a basic idea of where we are headed, why write it down?”

Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracking them against actual results. Magic happens when you put goals on paper, they start to become real. You begin to make commitments, and are open to opportunities you may not have noticed before.

UNCERTAINTY- “Strategic planning is a business school concept developed when people thought they could anticipate and predict the future. How can we plan in a world that is highly uncertain?”

Uncertainty is a real issue in forward planning. However, putting our heads in the sand probably isn’t the best solution. Most organizations have their strategies, structure, and service offering challenged on a regular basis. To remain successful it is vital to ask the following strategic questions on a regular basis:

Where are we now? Where are we going? How are we going to get there?

Strategic planning helps a business evaluate market opportunities. To do this effectively, the process includes collecting and analyzing information about the business environment, understanding internal strengths, and developing a set of ‘key assumptions’. Optimal strategies are designed based on all of these factors. As the environment changes, so should our plans. One way to assess whether it is time to conduct a new strategic planning process is to check your list of ‘key assumptions’ on an annual basis to see if anything has changed.

I HAVE A PLAN- “I wrote a business plan when I started the business”

The act of strategic planning is often confused with a business plan. Business plans are usually drafted to obtain financing, then wind up filed away. The strategic planning process is an activity that is conducted every few years to evaluate opportunities, wrestle with environmental changes, build consensus, and to create updated goals. The output (a strategic plan) is a short working document that defines the positioning and future of the organization, with an action plan to get from here to there.

ORGANIZATION DYNAMICS- “I could never get everyone to agree on the best way to move forward. Anyway, shouldn’t it be my vision?”

An effective planning process will help to get people talking, and ensure that the business owner/CEO benefits from the ideas of his/her team. A good process is designed to build confidence, support and commitment among all involved. Even if only a limited group is included in the process, the completion of a strategic plan provides a great opportunity to communicate the company’s direction and core values to employees.

The use of an outside facilitator can greatly enhance the effectiveness of a planning process and keep the process on track. There is often a strong tendency of those participating to focus the discussions on today’s problems. An outside facilitator can help to broaden thinking and make sure that new ideas and directions are generated.

COST- “We don’t have a budget for planning.”

With all the activities that make up running a business, setting priorities in the context of a plan is important. Without a plan, the limited resources of a growing business will tend to be scattered in many directions, netting results that take longer and cost more.

What are your personal priorities? Is profitability, work/life balance, a motivated staff, or public recognition on your list? What are the personal benefits of achieving your goals? What are the consequences if you don’t?

If you are serious about your business, it is time to overcome the challenges to planning and start to soar. Don’t hesitate to enlist help. Stop thinking about a better future, TAKE ACTION!

We provide part-time virtual and onsite QuickBooks Training, Accounting, Cost Accounting, Controller and CFO Services to small and medium sized businesses.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

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9 Benefits of Companies Outsourcing Their CFO and Controller Tasks

All businesses need financial consulting, however not every business can afford to hire a full-time Chief Financial Officer (CFO), or a Controller. As a result, small and medium-sized businesses are increasingly turning to expert outsourced CFO services. Here’s how an outsourced financial consultant can benefit your company:

1. Cost Reduction
Outsourcing a qualified accounting professional to handle your CFO services can help your company save a lot of money. You’ll be getting expert services without having to add additional personnel and technological resources. This can help reduce your company’s overall operation costs.

2. Quality of Services
With an outsourced CFO, you can be assured of quality services because he is a professional who has worked with different industries, and understands what works across the board.

3. Allows Better Focus
It’s very important for businesses, especially small ones, to concentrate on their core competency, and let professionals handle what they don’t understand. If dealing with the financial aspect of your business isn’t your specialty, outsourcing CFO services can help to concentrate more on what you know best.

4. Overall Efficiency
When it comes to meeting deadlines, as well as other requirements of different projects, an outsourced CFO is generally more efficient compared to a hired one. This is because he has experience with almost all financial situations, and you can only expect the best from him or her.

5. Assistance in Getting Financing
Bookkeepers do a wonderful job, but it’s usually an outsourced Chief Financial Officer, who has to present suitable financial statements to a lending body for financial approval. With his or her experience, the CFO will be able to identify the strengths and weaknesses in your company’s income statement and balance sheet, and can equip you with the financial information that the bank may need. Many times, such CFOs will introduce your company to banking sources that match its lending requirements, and thereafter, assist you throughout the financing process.

6. Developing Budgets
Every business, regardless of size requires a revenue and expense management plan in order to successfully grow. An outsourced CFO can help you as the business owner to develop a model that demonstrates what needs to be done to attain a desired gross or net profit, or meet a sales goal. Every company owner can attest to the fact that without a budget, it’s difficult to run the business efficiently, leave alone managing it to become profitable. Therefore, the CFO can work with you to come up with plans that can help you identify the sales level that should be reached to attain break-even profitability, or know when it’s sensible to hire additional employees.

7. Managing Cash
Small companies would love to be able to have sufficient cash to run their everyday operations, however, most of them lack the tool to help them forecast their liquidity needs. When you outsource a CFO, he or she can build a model that forecasts your cash-flow requirements both in the short and long term. In addition, he’ll be able to help your company in prioritizing its cash-flow needs.

8. Assist in Complying with Tax Regulations
Several business owners usually disregard the consequences of failing to pay taxes to the federal and local government on time and in full. In addition, they pay the wrong amount of taxes because of wrongly entered transactions in the ledger. Accurate tax returns can’t be prepared without proper financial statements. Outsourcing CFOs can come in very handy for such businesses because they’ll ensure that financial statements are prepared accurately, and in a timely manner. Consequently, they’ll be able to assist you in navigating and complying with various tax regulations.

9. Upgrading Accounting Software
An outsourced CFO is familiar with a huge variety of software packages. As a result, he can weigh the gains of getting more powerful accounting software against the package’s cost, in order to know if the purchase makes sense. However, that basic software you have in your office may not suit every business type; certain companies for instance, those that deal with manufacturing, have significant inventory management requirements, and need more sophisticated software. An outsourced CFO can offer you very valuable advice regarding which accounting software is right for your business.

As you’ve seen above, companies have a lot to gain from outsourcing CFO services, such as cost reduction, efficient services and cash management. Besides, you’ll get more time to concentrate in the day-to-day running of your business.

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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Intuit QuickBooks Desktop Enterprise – We Provide Remote Accounting Services In Your Hosted Environment

After serving the needs of small businesses for over 10 years, Intuit identified a need to better serve small to medium sized businesses growing in size or complexity. QuickBooks Desktop Enterprise was designed specifically with these businesses in mind.

QuickBooks Desktop Enterprise is the most flexible QuickBooks that adapts to the way you run your business. It scales from 1 to 30 users with everything you need to manage your users and data properly. Its add-on modules cater to your specific workflow needs.

With QuickBooks Desktop Enterprise you can:

  • Get room to grow without sacrificing control over user access.
  • Keep your growing data history to provide the best possible financial data about your business.
  • See your data the way you want with the most customizable reporting tools in QuickBooks.
  • •Manage your end-to-end workflow inside QuickBooks Desktop Enterprise.
  • Access Enterprise any way and anywhere you want, anytime.
  • Let users work at the same time with more activities in multi-user mode.
  • Add monthly Hosting Service to run your Enterprise in the cloud, and connect all your users and get anywhere, anytime access with no network to set up or maintain.
  • Combine reports from multiple company files for clearer business insights.
  • For more complex reporting needs, you can create custom reports with ODBC-compliant applications9 by connecting directly to the QuickBooks database for maximum flexibility in report design.

We provide remote cloud based Accounting and Accounting Management services for users of hosted Intuit QuickBooks Enterprise / Desktop / OnLine, Microsoft Dynamics GP, Passport Business Solutions, including Entries, Inventory, Consolidations, Payroll, Analysis, Reconciliations, Budgeting, and Financial Reporting.

We provide these services on an hourly / part time / as needed or project basis, to include Accounting, Distribution, and Reporting functions; remotely on your hosted systems.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation experience (including QuickBooks, Intuit, Enterprise, Passport, Dynamics, Great Plains, RealWorld, Peachtree, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software), as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons.

Peter DeSmidt‘s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

View our testimonials www.desmidtconsulting.com/testimonials.html

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced And Enterprise ProAdvisor

QuickBooks Certified Online ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Microsoft Great Plains Authorized Real World Consultant

Microsoft Certified Small Business Manager Consultant

Contact us to inquire about our CFO, Controller, Accounting, Dynamics GP, Passport, or Intuit / QuickBooks Services.

 

Why You Should Have an Advisory Board

By Robbi A. Gunter

Many small businesses have a Board of Directors to make executive decisions and to oversee the company’s various activities. Your business may or may not have a Board of Directors, but you will want to consider organizing an Advisory Board to help boost your company’s success and credibility within the local and business communities.

The Benefits

Advisory Boards typically consist of three to five professionals with expertise in various areas of business. Individual board members may have experience in finance, marketing, your specific industry, purchasing, or another area of business operations. An Advisory Board will give you the benefit of working with seasoned professionals whose interest lies in helping your business thrive.

Members of Advisory Boards do not profit from their work with your business. Although you may compensate the board members by covering their travel expenses, providing meals, or offering stock options or monetary payments, their purpose is to give you guidance in developing a successful company. Advisory Board members will generally be more objective than Board of Directors members because they are not seeking any return from their time and work investments. You can expect the advice from Advisory Board members to be honest and straightforward.

Advisory Boards are an excellent resource for business knowledge as well as advice. The members usually have years of experience in their field and have likely encountered many problems along the way. “Experience is the best teacher” is absolutely true when it comes to operating a business, and the lessons learned from your Advisory Board’s cumulative business experiences are more valuable than any training course, book, or lecture. These professionals have “been in the trenches” and can offer realistic and relevant advice.

You will not be the only one profiting from having an Advisory Board. Professionals that are members of an Advisory Board are part of your business because they want to be. They love what they do and want to reach out to other business owners to pass on their knowledge and enthusiasm. Advisory Board members welcome the opportunity to network with other like-minded professionals while helping business owners build or expand successful companies.

Impact on Your Business Credit Profile

One of the greatest advantages of incorporating an Advisory Board into your business plan is the positive effect this can have on your business credit profile. Your association with proven business leaders will boost your presence in the community. This can potentially draw more interest from investors and also enhance your credibility with community leaders and local lenders. Taking a strong interest in your company’s future by coordinating an Advisory Board will let others know that you are serious about your business’ success.
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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our Advisory, CFO and Controller Services.

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Microsoft Great Plains Dynamics – We Provide Remote Accounting Services In Your Hosted Environment

Microsoft Dynamics GP (formerly Great Plains) is a robust, reliable, and secure accounting system for small and mid-size businesses. For over 25 years, Dynamics GP has delivered comprehensive out-of-the-box business management functionality, from operations management and financial management to manufacturing and project accounting. Dynamics GP connects the many moving parts of your organization, giving you better visibility into and control over what’s going on in your business.

Microsoft Dynamics GP enables you to make smart decisions that have a direct impact on your bottom line – increasing margins and improving your cash flow. Simple to learn and to use, Dynamics GP works with your existing technology and scales as you grow to deliver long-term value.

Dynamics GP includes:
• Financial management and accounting
Manage your cash, assets, budgets, and banking—with built-in analytics and account-level security.
• Inventory management and operations
Track and manage your production, inventory, orders, returns, and vendors.
• Sales and service
Manage your sales, service contracts, and field resources.
• Business intelligence and reporting
Get real-time visibility and analytics to track performance and act with insight.
• Human resources and payroll
Hire, train, and pay your team with the help of complete employee profiles and evaluation tools.

We provide remote cloud based Accounting and Accounting Management services for users of hosted Microsoft Dynamics GP, Intuit QuickBooks Enterprise, Passport Business Solutions, including Entries, Inventory, Consolidations, Payroll, Analysis, Reconciliations, Budgeting, and Financial Reporting.

We provide these services on an hourly / part time / as needed or project basis, to include Accounting, Distribution, and Reporting functions; remotely on your hosted systems.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation experience (including QuickBooks, Intuit, Enterprise, Passport, Dynamics, Great Plains, RealWorld, Peachtree, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software), as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons.

Peter DeSmidt‘s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Microsoft Great Plains Authorized Real World Consultant

Microsoft Certified Small Business Manager Consultant

QuickBooks Certified Advanced And Enterprise ProAdvisor

QuickBooks Certified Online ProAdvisor

Contact us to inquire about our CFO, Controller, Accounting, Dynamics GP, Passport, or Intuit / QuickBooks Services.

 

When You Need Accounting or QuickBooks Help for Your Business

By Desirae Washington

If you have recently started a business or have been in business for a while and are now in need of bookkeeping or QuickBooks help, it may be time to seek the help of an experienced and qualified professional. You may attempt to do you own bookkeeping or fix problems related to your QuickBooks file yourself, but at some point this may do more harm than good and the money you saved is suddenly not worth the hassle. There is no reason that you can’t take care of your own books as long as you have the necessary training and time on hand. You also have to take into consideration the dreadful nightmare if your unorganized books result in an IRS audit of your tax returns. Your accounting system must be well-kept so that you know how profitable your business is doing and that your tax returns are prepared accurately.

When you encounter one of the issues below, it is time to get bookkeeping help or QuickBooks help for your business.

You have started to pay yourself or your employees and now have payroll taxes to pay and payroll forms to file.
You can’t tell which expenses are ordinary, necessary and reasonable for tax purposes.
Your bookkeeping system does not provide a clear picture of income and expenses.
Your QuickBooks file has general ledger errors resulting in inaccurate tax data.
Your profit margin does not look accurate.
You have a headache from your own bookkeeping.

If you are a sole proprietor, you do not need to hire employees and pay payroll taxes. If your business is a corporation, partnership or LLC and has decided to add employees, one of the most important procedures becomes processing payroll and paying payroll taxes. You will need an EIN, to withhold taxes from employees, pay employment, unemployment and social security taxes. You will file quarterly and years payroll taxes as well as year-end W2 forms. This can be a daunting task if you decide to do it on your own. You may want to seek a payroll company, professional accountant or bookkeeper to process your payroll to avoid costly mistakes.

One of the main reasons business are audited by the IRS is due to improper classification or deduction of expenses. If the expense is not ordinary, necessary and reasonable for tax purposes, you may face an audit from the IRS. Personal expenses should always be kept separate from business expenses and should never be included on your business tax returns. You have to be able to back up and justify each and every business expense deducted.

If your business QuickBooks file is not setup properly, your general ledger accounts may cause a problem with bookkeeping and tax preparation. Getting a Certified QuickBooks ProAdvisor or Accountant to provide QuickBooks help and bookkeeping help before your business tax returns are prepared could help you avoid costly mistakes. Your income and expense must be properly categorized to generate accurate financial statements and tax returns.

Your accounting system should provide a very clear picture of the business income and expenses. If you know your business made profits for the year, but your QuickBooks accounting file is showing no profit or a loss, there may be a problem that needs to be researched and fixed. You should not attempt to fix the problem yourself if it would get your books into a further mess. Get QuickBooks help to determine if your books are setup properly and all income and expenses are flowing to the proper accounts. This is detrimental to proper tax return filing.

If you are just fed up with doing your bookkeeping yourself and the headache is just not worth it, it is time to hire a professional bookkeeper or accountant so that you can focus on growing your business and other important areas of business management. If you can’t afford to hire a full-time bookkeeper, you may want to look into part-time bookkeeping and accounting help from an outside company that specialize in bookkeeping and QuickBooks help. A Certified QuickBooks ProAdvisor can provide such as QuickBooks review, QuickBooks setup, QuickBooks quarterly tune-up and QuickBooks training if you wish to continue doing your own books but need to learn the basics to produce accurate books and tax returns.

Article Source: http://EzineArticles.com/7375127

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

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813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our Accounting and QuickBooks Services.

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