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ACCOUNTING WORKS - OUR SERVICES |
| Accounting Works covers a wide area of expertise in helping small business. Click on any of the subjects below in order to find out more. |
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Quick Books Pro Advisor
Accounting Works has chosen to use Quick Books for its accounting software and offers it to their clients. Accounting Works will assist other users with operating Quick Books and coach in-house staff on how to effectively operate this software.
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New Business Start Ups
The client will receive assistance with getting their accounting up and running. This entails banking, GST & PST numbers, establish failproof deadlines, advice on whether and when to incorporate, general office set-up and assistance with their business plans.
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| Full Cycle Accounting
This entails systems for invoicing to customers, payments to suppliers, GST/ PST/ employee deduction/ income tax reporting all the way through to Financial Statements. It will also include accounting department efficiencies, payroll management and year end working file preparation.
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Accurate yet Meaningful Financial Statements
AccountingWorks teaches owners to read and understand their financial statements.These statements consist of Balance Sheet, Profit & Loss, and encourages the small business owners to track their results on a monthly basis. This is extremely important as business decisions need to be adjusted to obtain the perceived results.They are also required by lending institutions.
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| Budgets and Cash Flow Projections
Through Budgets, Cash Flow Forecasts and their analysis the business owner will gain valuable information to grow their business and make informed decisions.
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| Inventory and Cost Analysis
Inventory and Cost of Goods Sold are directly related. Business owners need to recognize the relevance between the two. It is important in most companies to have inventory valued correctly and the costs of sales be allocated to the Income Statement appropriately.
Some accountants set up a 50% value for Cost of sales which can be very skewed. Often there are many different markups on cost not just 100%. The surprise is to the owner when a year end inventory adjustment is made to reflect the most accurate inventory value and the expected profit margin differs drastically. AccountingWorks will give governance over this and bring to small business what large business do every day.
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