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

Article Source: http://EzineArticles.com/7185943

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

 

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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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

Benefits of Retaining Us to Perform Your Remote Accounting Services

Business meeting

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, CFO and Controller Services
  • 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
  • Risk Management and Controls
  • 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 http://www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt,

imagesRMWHBYUM

You Can Benefit From Our Small Business Advisory Services

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Business Consulting
Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.

We can provide your business with small business consulting, virtual, interim and temporary accounting, controller, and CFO services, business and financial planning, CEO and COO support, project management, cost control services, strategic planning, business valuations, business start up advice, lease purchase analysis, and outsourced accounting services.

Supply Chain Consulting
Global studies suggest that many executives rate supply related risks as the top threat to revenue. We can help you minimize risks related to supply interruptions, security threats, weather threats, labor disputes and customer demands.

We instruct our clients on how to identify, manage and monitor supply chain risks resulting in process improvements and improved efficiency.

Strategic Consulting
Strategic planning is a management process for evaluating your current business, determining your strategic direction, and road mapping your strategic plan into practical actions. A strategic plan explains why an organization exists, what it is trying to accomplish, and the tactics it will take to achieve its goals and objectives.

We will develop the business planning and financial modeling necessary to formulate a forward-thinking, evidence-based strategic plan. We can help you develop your strategic direction and then focus on specific actions to put your plan into action.

Profitability Management
Profitability Management involves integrating the pricing objectives of often conflicting functional areas of the organization into a comprehensive plan to effectively set and capture prices.

We can help you attain the greatest value for your pricing strategy by developing an optimal pricing strategy, implementing effective pricing processes, measuring and controlling price at the transactional level and integrating technology with the processes utilize for your pricing strategy.

Cost Reduction
We implement and expedite cost-savings initiatives for all types of organizations. We combine a data-driven procurement strategy with market proven purchasing techniques to provide significant cost savings to our customers.

We specialize in using financial information to identify those areas of the business that provide the greatest opportunity for expense reduction and cost savings resulting in improved value for the organization.

Policies and Procedures
Many businesses fail because they have the right strategies but are unable to put them into practice because of failures in the processes necessary to implement those strategies. Whether your business processes are broken or in need of improvements we can help you break through your execution problems.

By analyzing existing processes, identifying bottlenecks and redesigning or improving the processes we can significantly reduce costs and improve satisfaction for all stakeholders in your organization.

Systems Consulting
When considering the installation of an accounting software system, you want to be certain to get the one that’s best for your business. We can provide your business with needs analysis, accounting systems design, chart of accounts design, software selection assistance, software installation, implementation and setup, financial statement design, file conversion, training, support, and guidance.

Management Advisory Services
We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.

We can provide your business with product line profitability analysis, inventory and purchasing control, employee benefits planning and analysis, operations and office procedure documentation and advisory services.

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

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt

Online Accounting Services and How Small Businesses Benefit from Them

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By Amitaabh Saboo

If you manage a small business then you probably find it hard to perform bookkeeping. Online accounting services the best solution into easier bookkeeping. This is an online system that allows you to take control of all your accounts online. It is provided by accounting outsourcing firms and it gives you much time to handle other aspects of your business rather than bookkeeping, which often takes many hours. It is a convenient way to handle your management tasks without wasting a lot of time.

Online accounting services are efficient in helping you store all your accounting information on a web based system. With the allowance to access it more frequently and from anywhere it is very convenient. Besides, these services will help you cut down on the extra payment you make to a book keeper who physically comes into your premises. As long as you have an internet connection, you can always access your books.

One benefit with the online accounting services is that they avail a system where the client will have very little data to enter. Mostly the clients will use the QuickBooks software, which is simple to learn and use. Some outsourcing companies will even provide training software to their clients and they help them ease their bookkeeping tasks. The online accounting firms will help their clients ease the making of a business activity statement and handle the payroll.

Using the online accounting services will not only help you save some hours, which were previously directed to bookkeeping but you can also be assured of competence. Your records will be handled by an experienced professional eliminating any worries of making mistakes when you take the task yourself. You should remember that the professionals have the bookkeeping task as their profession and do not feel oppressed by it.

There is dire need to outsource simple tasks that do not matter much to the business such as cleaning, bookkeeping and marketing so that you are able to focus on the core matters. The online accounting services will be of great aid to you if you are planning to outsource the bookkeeping task. They will give you ample time to concentrate on other factors such as customer service and products, which are more important to the success of your business.

It is mandatory for all businesses to keep records of their transactions so that it is easy to track the movement of funds. Traditionally, the business owner would usually employ accountants whose profession is based on keeping accurate records. However, with invent of the internet it is now possible to have bookkeeping online through the online accounting services. One of the greatest benefits you will reap as a business owner is the reduced cost at which you get the service.

The Online Accounting Services also include financial analysis. Your business can keep abreast with details of its marketing efforts by having this service. It is useful where you want to lay out new strategies since it points out to your faults. Your accounting records can be presented in graphs and tables allowing you to easily see what needs to be done to make your business more efficient.

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

Article Source: http://EzineArticles.com/6587905

We provide part-time virtual and onsite 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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dyn gp

We Provide Accounting Services on Your Hosted Dynamics GP System

Microsoft Dynamics GP is a comprehensive business management solution that helps companies adapt to new opportunities and continued growth. Designed for how people really work, Microsoft Dynamics GP equips your people to keep pace with the competition, manage changing markets, enable unique business requirements, and connect the full range of business processes across your organization.

We provide remote cloud based Accounting and Accounting Management services for users of hosted Microsoft Dynamics GP accounting software, including

  • Financial Management modules
  • Supply Chain Management modules
  • Business Intelligence modules

We provide these services on an hourly rate basis, or project basis, to include Accounting, Distribution, and Reporting functions; remotely on your hosted Dynamics GP software.

Peter DeSmidt has more than 45 years of accounting and systems implementation (including QuickBooks, Intuit, Passport, RealWorld, Peachtree, Dynamics, Great Plains, 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 Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science.

Providing meaningful financial information to our clients on a timely and accurate basis is a commitment that we feel cannot be compromised. We can provide your business with special project support, accounting and controller services, interim accounting management services, monthly closing support, forecasting and budgeting, feasibility studies, financial statements, financial planning, cash management, and analysis of manufacturing and overhead costs.

At DeSmidt Consulting, Inc. we can perform monthly and annual Accounting and Cost Accounting services on an ongoing basis, keep you informed on a regular schedule, as well as, analyze your business on a revenue and cost basis to determine opportunities for increased profitability.

Peter started his Business in 1988 after 20 years in the corporate world and provides Interim CFO, Accounting and Controller services, Accounting Management support services, Accounting and Financial systems consulting services, systems implementation and training services, Accounting and Cost Accounting special project assistance and software sales and support. His extensive experience includes providing services and software for businesses in the distribution, manufacturing, service, hospitality, restaurant, moving, insurance, technology, financial services, retail and healthcare industries.

His professional designations include:

  • Microsoft Great Plains Certified Accounting Application Specialist.
  • Microsoft Great Plains Certified Installation Specialist.
  • Microsoft Great Plains Authorized Real World Consultant.
  • Microsoft Certified Small Business Manager Consultant.
  • QuickBooks Certified Advanced ProAdvisor.
  • QuickBooks Certified Enterprise ProAdvisor.

Ask us for help – this is what we do.

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

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, BA, MBA, PA

Utilize Our Forecasting and Budgeting Services

A budget is a plan expressed in quantitative, usually monetary terms, covering a specific period of time, usually one year. A budget is a systematic plan for the utilization of human and material resources. In a business organization, a budget represents an estimate of future costs and revenues. Budgets may be divided into two basic classes: Capital Budgets and Operating Budgets.

Budgeting and forecasting are vital in maintaining control of your business, but it can be a time consuming task as budgets must be continuously updated with new forecasts becoming the targets to achieve. To be competitive, small business owners must plan and prepare for all future events and market changes. Possibly the most important aspect of preparation is effective cash-flow planning. Failure to properly plan cash flow is one of the leading causes for small business failures.

A healthy cash flow is an essential part of any successful business. Some business people claim that a healthy cash flow is even more important than your business’s ability to deliver its goods or services. That may be placing a bit too much importance on your cash flow, but consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work harder to please the next customer, but if you fail to have enough cash to pay your suppliers, creditors, or your employees, you’re out of business! Proper management of your cash flow is a very important step in making your business successful.

A business plan precisely defines your business, identifies your goals, and serves as your firm’s resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.

There are vast benefits to companies which follow budgeting and forecasting processes. Budgeting and forecasting allows you to identify the goals and objectives of the organization from sales, margins, employee, and cost levels. Companies will also be better equipped to plan their projects in accordance with a specific budget. Budgeting and forecasting models are essential for company growth. Models help organizations establish and evaluate expectations for goals, sales margins, employees, and cost expectations.

DeSmidt Consulting Inc has extensive experience helping businesses set targets, prepare budgets and measure performance. We can fine tune budgets and forecasts on an ongoing basis and prepare periodic variance reports comparing the actual results to the budget plans.

Our forecasting and budgeting services include:

· Budget Preparation, Reporting and Monitoring

· Financial Forecasting and Modeling

· Business Planning and Forecasting

· Cash Control and Forecasting

· Cash Flow Management and Analysis

· Business Startup and Business Plans

· Strategic Business Planning

· Revenue and Expense Budgeting

· Employee Benefits Forecasting

· Employee and Human Resources Forecasting

· Budget Comparisons – Actual vs. Budget vs. Prior Periods

· Special Projects and Activities Budgeting

· Income, Expense and Cash Flow Forecasts

· Examination of the Working Capital Cycle

· Cash Flow Projections

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

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

813-252-9490

Thank you,

Peter DeSmidt,

Three Reasons Why You Need a Mobile Website

By Mary Wilhite

The mobile website is a new phenomenon. In fact, there are only three million compared to about 266 million desktop websites. Mobile marketers and business owners are often confused whether to have one or not. And some often ask me: ‘Is my mobile web presence important? The answer is yes and here is why…

1. To avail your information and showcase expertise.

It is common for clients who want to engage professionals, to check for some background information. Ideally they want to know your experience, competence, and to establish your credibility. This is a natural way of doing business. Everybody wants to know if he is making the right choice and a website can aid in that decision.

It would be unfortunate for you to be looking for mobile web design clients when you don’t have a mobile website. How do you convince clients that you can optimize their site when you don’t have one?

On the other hand, a business with mainly local clients could be losing big business if it has no mobile website. Most people who want information while on the move use a mobile device to get it. And the way mobile search engines work is that the local sites optimized for the device come up first on the search. That means, your competitor’s sites with mobile presence are showing up and getting the business while you complain about the economy.

By the way, mobile searchers are usually motivated buyers. They are eager to get a solution and ready to spend money. Otherwise, they can wait and use their computers at home or office.

2. To disseminate time- sensitive information.

An email can go for days without being read while an SMS – short message service – is read within 4 minutes and the open rate is as high as 97%. Now, if you have time sensitive information the best way to pass it on is by SMS. But there is a problem of 160-character SMS limit. That means you can’t say much on an SMS. So the best solution is to pass sensitive, but short information using your website. You then send an SMS to the effect. People who receive the text message will open your website to catch up with whatever you have to say. This is not a practical strategy if you are using a traditional website.

3. To tap into the huge market that is fast growing.

Mobile devices are now more than 5.3 billion worldwide. They have outnumbered PCs and TVs combined. In the US we expect 100% penetration soon and the number of smart phones that can read mobile websites is growing. I think more people will start surfing the web using mobile devices than the desktop computer. It is difficult to ignore this huge potential.

And by the way, the younger technology savvy generation has more advanced gadgets than the older generation. For anybody targeting this group, it would be very wise to have mobile web presence sooner than later.

Final thought…

Google is developing voice searches. You just speak and the results come on your mobile phone. Naturally only the 3 million mobile websites will show up on the results. Will your business be among them?

Mary Wilhite is a Mobile Marketing Specialist, also known as the Mobile Marketing Queen. Teaching small businesses, entrepreneurs, and internet marketers how to attract better customers with mobile marketing devices. Get more of her mobile marketing tips, tricks, and strategies today. Just click here http://marywilhiteblog.com

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

Growing Your Business With Virtual Controller Services

Young speaker at a business meeting giving a presentation.

By Shoni Priyanka

Are you also looking for tried and tested technologies and solutions to aid your organization’s growth and want to get proper guidance to achieve the financial objectives and goals? Then you need to look no further as the world of virtual controllers and their exhaustive range of services are fully equipped to help you develop business strategies and implement them according to your firm’s needs and requirements. From providing cost effective solutions at affordable prices to holding your hand and guiding you through the toughest of takeover decisions, controllers go a long way in providing valuable expertise and knowledge, as they work online to address your specific needs and requirements.

Changes in the contemporary business scenario have defined and established the role and importance of these professionals who work overtime on secure and sophisticated range platforms. Apart from being totally accessible through unlimited emails and phone calls, they also provide consultation through well established conferencing facilities, online chat sessions and various other modes which make these controllers indispensable in your business operations.

Regardless of their location in the world, online controllers encompass a broad range of services and processes and take over the responsibility of several administrative as well as functional tasks. They help you in defining your long as well as short range programs- as you take care of other strategic areas of your business. Acting as a sound source of updated knowledge and regulatory procedures, they help in coaching you in your areas of concerns and helping you document and report conciliatory requirements, take important taxation decisions, plan out your accounting processes and strategize any other unprecedented situations that may come your way in the course of day to day business.

The role of a virtual controller extends beyond the handling, management and documentation of bank transactions, credit card statements, loans, liability and asset accounts, payroll management and taxation procedures to encompass trend analysis, responses to regulatory notices and deadlines, periodic reviews of accounting files and records and several off site services.

Be it their effective role in assisting you in creation, documentation and analysis of budget reports or handling the non standard and financial reports, controllers are certainly indispensable as they go about performing the various functions of job costing analysis, interpretation of financial results, liaising with partners and stakeholders and helping in accounting consultation and other customized business processes.

Once you are ready to bring in a virtual controller to manage your business and financial processes, you can certainly relax and take a step back as they go about creating comprehensive packages and solutions for financial planning, accounting and payroll management along with drafting articulate controls and polices for providing seamless support in all other areas of operation. Well managed and controlled business operations certainly help in bringing about higher levels of productivity and yielding better bottom line figures.

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

Article Source: http://EzineArticles.com/8038903

We provide part-time virtual and onsite 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

Accounting Oversights That Could Put You Out Of Business

By Octavia Conner

Being a business owner is a very exciting experience! As a business owner you have the freedom to be flexible, control your future and leave a legacy for many years to come. Now imagine going out of business. This is a dream killer!

That is exactly what I have witness occur when the 4 items below are overlooked. Take a moment and read the article and begin setting up procedures in your business to prevent GOING OUT OF BUSINESS!

FAILING TO MONITOR CASH FLOW

Do you have an accounting system that will help you track your receivables, payables, and expenses plus more?

Many business owners use their monthly bank statements to monitor their expenses and to determine how much cash is available. However the bank statement does not show the business’s outstanding checks or customer payments in route. Successful cash management places your business in the position to propel to the next level. This allows you as the owner to understand the health of the business, and then use this information to make wise and informed business decisions.

Cash flow is the money that is moving in and out of your business during a certain period of time. Failure to properly monitor the flow of your cash can be detrimental to the success of the business. The simple way to monitor your cash flow is by subtracting the amount of cash available at the beginning of a period from the amount of cash available at the end of the period. A negative cash flow is when the amount of cash available at the end of the period is lower than the amount of cash at the beginning of the period. Positive cash flow is the opposite.

Even though cash flow can be monitored on a quarterly and yearly basis, I recommend monitoring your cash flow on a monthly or weekly basis. If you monitor your cash closely you are sure to catch and prevent costly errors and mistakes or gaps between outgoing and incoming cash. Reviewing the business bank statements does not clearly identify how much cash is truly available. Having an accurate accounting system in place will assist you in monitoring your cash flow. Not having a system in place will open the door for you to spend until there is nothing left.

CONFUSING CASH AVAILABLE WITH PROFIT

Confusing cash with profit is a very common and deadly mistake for businesses! Profit is the money left over after the company has subtracted the revenue from the expenses. What is left will give you a net profit (more revenue received then expenses) or a net loss (more expenses paid them revenue). This is the income statement also known as the Profit & Loss (P&L) statement, which provides you with this information within a certain period of time. Your cash is the amount of money remaining after you have subtracted the beginning cash from the ending cash.

Cash Flow Formula As you can see Profit is the money left after the expenses are paid. Cash flow is what has happen between the beginning amount and the ending amount. When determining cash flow you will also factor in any accounts receivables (invoices that have not been paid yet), inventory and depreciation expense.

If you are reviewing your Profit & Loss statement and you see that your net cash is a high amount this does not translate to the amount of money you currently have to operate(spend) in your business. Do not make the mistake of either looking at the bank statement or this report and start spending money. This will lead to serious cash flow problems.

NO INTERNAL CONTROLS PROCEDURES

Internal Controls are procedures put in place to help achieve the objectives of a company. These objectives could be related to financial success, business operation, and customer satisfaction. Having internal controls for a business encourages efficiency; eliminates potential fraud and abuse, and compliance with the company and industry laws and regulations.

Understanding internal controls and how they can protect the small business is very important. Strong internal controls focus on addressing and preventing future problems. Regardless of how small the business may be fraud and theft can occur. Strong internal controls will act as firewalls against theft and fraud; saving the owner money, time, and costly headaches.

An experienced accountant will play a great role in setting up sound internal controls. Most business owners have little to no accounting background; therefore the accountant will be a key advisory on designing and implementing the right kind and amount of internal control for the business.

As a small business, the impact of theft can be deadly. Most small businesses do not have a great deal of money to support the company therefore theft can cause serious problems. Payroll and vendors not being paid, penalties with the bank and overall cash flow challenges can be the results of internal theft. If the amount of theft or fraud is extremely high it can even cause a business to close their doors permanently.

NOT RELYING ON EXPERT HELP

Most small business owners are not experts in business law and accounting. Relying on the help of an expert could mean the difference between success and failure. For example a business attorney could advise a business owner on how to properly write a contract. An accountant could advise a business owner on how to save and use their money wisely. Business owners should not waste time completing these expert duties when they could be focus on more productive business growth activities.

In the accounting industry I have witness business owners that purchase QuickBooks and unknowingly set-up and operate the system incorrectly. They later discover via high tax bills, IRS penalties and lots of wasted time and money that the system needs to be rebuilt. It is my recommendation that a smart business owner retain an experienced small business attorney and accountant from the beginning of the business’s birth.

This will allow them to prevent costly problems, build the company effectively and increase their chance for maximum success.

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

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We provide virtual and onsite 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

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813-938-3608

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

What is Job Costing?

By Arnold S. Grundvig, Jr.

Here is a fact that will surprise few contractors: Construction is the highest risk industry in the US economy. There are more business failures in construction than any other industry, both in number and as a percentage. The reason for this gloomy statistic is the reality that most contractors fail to monitor construction costs, so they get out of control. Before the contractor knows it, a job has lost money and the business has deteriorated toward insolvency. If things are not turned around, the owner’s home is soon being foreclosed on and another marriage ends up in divorce court.

Here is a real life example, with a twist. A contractor had just finished a job that he bid with a $100,000 built-in profit. He complained that when he paid the last bill, instead of making $100,000, he had lost $120,000. He was fortunate that this $220,000 swing would not cause his business to fail. His big concern was the reality that he had no idea where things went wrong, so he didn’t know what to fix!

In response to this risk, some contractors reason that the best solution is to keep their business small, thereby reducing the risk of failure. Surprisingly, the same study that documented how risky construction was (done by the US Small Business Administration) also concluded that staying small actually increased the odds that a contractor would fail. In fact, of all the industries in the study, the one that benefited most by growth was construction!

How can a contractor monitor costs AND grow, thereby increasing the chance for success? The answer is to use job costing. There is an old axiom, “Use the right tool for the job.” When it comes to construction, the right tool for accounting is job costing. That is why contractors need it.

Now, we get to the heart of the question. What exactly is job costing? Job costing is a special accounting process that was designed specifically for contractors. It’s nothing mysterious and it doesn’t require a high-priced accountant or high-priced software. It is simple a two-step process. The first step is to set up a job and enter a “budget” for that job. Where does the budget come from? The budget is nothing more than the “estimate” that was created by the estimator when this marvelous visionary calculated the expected costs for the job, line by line, phase by phase, from start to finish, for the job. Logically, an estimate is not a single figure, but a series of small estimates, each covering a different phase of the job. For instance, how much concrete at what cost per yard will it take for the foundation? How many hours of labor, at what cost per hour to prepare and then pour the foundation? What will the costs be for subcontractors, if any? Will it be necessary to rent some equipment, like a concrete pump, and what will it cost?

Each phase of each job has a potential budget for labor, material, subcontracts, equipment, and a general, catch-all “other” category. In addition, there may be a “burden” category, which adds a portion of general and administrative overhead to each job, thereby spreading the whole cost of operation back to each job. This is a powerful way to determine if each job is carrying its share of the load.

In actual practice, setting up a budget is not as complicated as it might sound. Estimators do it all of the time. In fact, the Construction Specification Institute (CSI) created a numbering system to help contractors budget and track costs. This numbering system is called the CSI Cost Code. This is a tool created specifically for contractors to help them do job costing.

The next step is nothing special. In fact, the accountant does what the accountant always does: Enter vendor invoices and subcontractor billings, enter payroll, and do customer billings as usual. As costs are “accrued,” they are tracked. “Accrual accounting” recognizes an expense as soon as it is incurred, not waiting until it is paid. With job costing software, it is not necessary to actually pay an invoice or a payroll for that cost to be included. The fundamental difference in job costing is that as each cost is entered, it is assigned to one of the CSI cost codes for one of the jobs. The result is that individual actual costs are compiled and compared to individual budgeted costs. True job costing software will actually go one step further and forecast the “cost to complete” for each cost code, based on a series of “algorithms.” If a contractor uses “field reports” that show what remains to be done on each phase of each job, job costing software can override the algorithms and add those numbers to actual “costs-to-date” and then compare them to the budgeted costs, line by line, phase by phase, job by job. The result is up-to-the-minute cost information. That means contractors can sleep well at night, knowing that they are making money as the job progresses. They never have to wait until the job is completed to see if there is anything “left over” for them. Job costing provides peace of mind to contractors.

If a contractor is using job costing software and actual costs get out of line, there is time to find out why. This should be an ongoing process, not done after the fact. Was the contractor double billed? Was an invoice double-paid? Was more work done than was originally budgeted? Is a change order necessary? Only by knowing that costs are out of line can management address the causes on a timely basis. Job costing allows management to monitor and thereby control costs. The result is reduced risk, increased profitability, and something sweet, something called “success.” Job costing is more than a tool that contractors need in order to avoid becoming a statistic; it is the key to their success. Perhaps it is bold, but one accountant said, “Contractors that don’t use job costing are either lucky or bankrupt, and no one likes to hang their future on luck!”

Yes, the professionals are right; contractors NEED to use job costing. Taking that a step further, they need to use REAL job costing software to do it right.

Article Source: http://EzineArticles.com/?expert=Arnold_S._Grundvig,_Jr.

Article Source: http://EzineArticles.com/1069404

We provide virtual and onsite 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

813-938-3608

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Cloud Accounting? Gaffe, Or Your ABC To Accounting Solutions

By Cathy Olivares

The term cloud accounting seems to gather a lot of buzz recently and everyone seems to have a definition to best describe it.

A closer look and one would ask what prime value it brings to business organizations? The term “cloud” basically refers to the internet and this becomes clearer when you think of the needs of business organizations IT makeup.

The idea of cloud accounting is a way to add value and capacity to organizations without investing in personnel training and setting up new systems and software. It comprises of either broad based subscription or pay-per-use service that, adds value to the incumbent IT capabilities by providing real time over the web.

The benefits of Cloud computing as an Accounting Solution are practically limitless, and particularly for a small business, turning to the cloud can provide an alternative to crunching numbers, which obviously is a nightmare because it can be confusing and time consuming.

A cloud computing system, with the right middle-ware, could potentially own all the capabilities running all the programs that a normal computer can, essentially everything from generic spreadsheets and word processing programs to user defined computer programs for specific organizations. These features offer great potential to users with the need for accounting solutions.

Here are a few reasons why adopting cloud accounting could be beneficial:

• One of the key advantages of cloud accounting is that it is location independent; where servers serve a broad range of levels (shared servers) provide software, data and resources or any other services on demand.

It defines a new delivery model and consumption for web-based IT services, and it essentially involves over the web provision of virtualized tools and resources which users can access and use through an internet browser, just like ordinarily the way one would use installed software. All these applications work with either Mac or PC.

• Clouds normally appear as unit points of gaining access for consumer’ computing needs. Cloud Accounting works as a byproduct of remote access where just like an e-mail account, it can be accessed from anywhere and the software and storage is not defined specifically to one computer-it’s on the computer cloud.

• Cloud Accounting allows you to allow business partners and other companies to gain access and can help with the job tasks that need to be done. Additionally, most cloud-applications have an inbuilt feature for backing up of data automatically, eliminating the risk of data loss. Many users on cloud often allay security concerns, therefore you should ensure that the cloud-accounting tool is verified by a third party, most common are TrustE and VeriSign.

• Small businesses often encounter unlimited amount of data that needs to be tracked, and an efficient automated system in cloud accounting would save time drastically. Automation is also a benefit where manual entry of all purchases and transactions which typically would include costly human error and duplication of work is eliminated.

• A good accounting solution would also allow you to automatically create and register income into invoices and cloud accounting features, have incorporated all this in one package. Cloud-based accounting solutions are here for a very long stay despite security concerns.

The benefits are worthwhile and many businesses are opting to reduce time spending on accounting to focus on core business operations.

There are two sides to the coin: You acquire a cloud-based accounting tool, which has brutal efficiency of keeping track your year-round transactions, all automated and the availability of a tech support team to come to your help at any particular time to manage your balance sheets and income statement, OR do it all manually and go through all the back and forth e-mail with your accountant to get it done.

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 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

Visit our mobile website www.desmidtconsulting.mobi

813-938-3608

Thank you,

Peter DeSmidt,

Virtual Accounting and Bookkeeping Services: Get the Most for Your Money and Protect Your Assets

By Amitaabh Saboo

If you are a small business owner who has not considered virtual bookkeeping  services, you need to take a step back and think about all that this set of  services has to offer. In fact, once you look at all the factors, you may find  that you cannot afford to tap into this cost effective, secure way of keeping  your company’s financials up to date.

Specialized Professionals Take the time to consider what you are doing  right now to keep your bookkeeping up to date. Are you coming home and managing  your books at night? Have you asked your sister-in-law to manage them because  she took a couple of accounting courses a few years ago? Have you hired an  “office manager” to handle your phones, communications, and your bookkeeping. If  one of these solutions sounds like the steps you have taken, you are taking  great risks with your company’s financial reports and assets.

By using virtual bookkeeping services, you would be tapping into a team of  specialized freelance professionals who understand what your company needs and  is able to manage your bookkeeping tasks thoroughly, accurately, and in a timely  manner. This is all they do; it is not that one thing they need to get done in a  day full of unrelated tasks. This means they have a solid grasp of the full  range of bookkeeping tasks that must be done to keep your company not only  afloat, but moving in the right direction.

Competitive Costs Virtual business bookkeeping services charge an hourly  fee for the work you need done; this may include managing your general ledger,  tracking expenses and revenue, completing weekly payroll, preparing month end  and year end reports, and preparing your documents for tax filing. The freelance  professionals will assess your needs, make recommendations, and take  responsibility for the accuracy and timeliness of their work. In the long run,  you will have saved money over hiring on your own, trying to work it in, or  squeezing it into the work of another employee, because you pay specifically for  the hours worked on your account and when your bookkeeping is done correctly, it  is financially advantageous to you.

Streamline your Business You most likely started your business because  you have a passion or a skill in relationship with the services or product you  offer. Even if that business is accounting, the best use of your time is to  focus on revenue generating activities. These tasks include building your client  base, building better relationships with the clients you have, and increasing  your inventory or providing the services you are selling. These are the  activities that help you make your business profitable and are the reasons you  started your company. By using virtual bookkeeping services, you can take this  crucial administrative task out of your day, ensuring it gets done, but  streamlining your own activities so that your time is spent working toward your  larger goals. For this reason, virtual bookkeeping services are just as  important to your overall business model as any other tool or supply you may  purchase.

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

Article Source: http://EzineArticles.com/6353173

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, cost 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

813-938-3608

Thank you,

Peter DeSmidt.

You Can Benefit From Our Small Business Advisory and Consulting Services

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Business Consulting

Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.

We can provide your business with small business consulting, virtual, interim and temporary accounting, controller, and CFO services, business and financial planning, CEO and COO support, project management, cost control services, strategic planning, business valuations, business start up advice, lease purchase analysis, and outsourced accounting services.

Strategic Consulting

Strategic planning is a management process for evaluating your current business, determining your strategic direction, and road mapping your strategic plan into practical actions. A strategic plan explains why an organization exists, what it is trying to accomplish, and the tactics it will take to achieve its goals and objectives.

We will develop the business planning and financial modeling necessary to formulate a forward-thinking, evidence-based strategic plan. We can help you develop your strategic direction and then focus on specific actions to put your plan into action.

Profitability Management

Profitability Management involves integrating the pricing objectives of often conflicting functional areas of the organization into a comprehensive plan to effectively set and capture prices.

We can help you attain the greatest value for your pricing strategy by developing an optimal pricing strategy, implementing effective pricing processes, measuring and controlling price at the transactional level and integrating technology with the processes utilize for your pricing strategy.

Cost Reduction

We implement and expedite cost-savings initiatives for all types of organizations. We combine a data-driven procurement strategy with market proven purchasing techniques to provide significant cost savings to our customers.

We specialize in using financial information to identify those areas of the business that provide the greatest opportunity for expense reduction and cost savings resulting in improved value for the organization.

Policies and Procedures

Many businesses fail because they have the right strategies but are unable to put them into practice because of failures in the processes necessary to implement those strategies. Whether your business processes are broken or in need of improvements we can help you break through your execution problems.

By analyzing existing processes, identifying bottlenecks and redesigning or improving the processes we can significantly reduce costs and improve satisfaction for all stakeholders in your organization.

Systems Consulting

When considering the installation of an accounting software system, you want to be certain to get the one that’s best for your business. We can provide your business with needs analysis, accounting systems design, chart of accounts design, software selection assistance, software installation, implementation and setup, financial statement design, file conversion, training, support, and guidance.

Management Consulting

We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.

We can provide your business with product line profitability analysis, inventory and purchasing control, employee benefits planning and analysis, operations and office procedure documentation and advisory services.

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 – we provide small business advisory and 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

813-938-3608

Thank you,

Peter DeSmidt