When you are setting up a small business, it is essential to have a detailed business plan in place to allow you to plan ahead and attract investment capital. We can help you to prepare detailed business plans and projections that help you to anticipate:
- Capital investment needs
- Marketing strategy
- Customer demographics
- Sales potential
- Employee requirements
- Financial plans, including startup costs, operating costs and break even analysis.
Small businesses can pay more in bank charges and interest than they need to when they operate without strict financial controls. The timing of income and expenditure can be crucial if you want to avoid financial penalties. Positive cash flow can help your business avoid unnecessary bank charges for unexpected overdrafts or bounced checks.
We offer help with cash flow projections, monitoring of income and expenditure and reconciliation of bank accounts to companies in. Small business accounting support in Sterling Heights can help you remain in control of your company’s cash, making fraud or errors easier to spot. Your business cash flow can be maximized when lost or mis-posted payments are identified and rectified through bank reconciliations. Unauthorized transactions can be highlighted promptly, ensuring that liability transfers to the bank.
Although you may have a healthy turnover, you will not be sure that your business is profitable until you look at an income statement. This summarizes the money brought in to the business over a defined period and subtracts all related expenditure. We can prepare regular income statements that will help you to understand how your business is performing. We can help you identify areas where expenditure is over or under budget, allowing you to adjust your spending or re-balance your budgets.
Your income statement will also help to calculate how much tax you are due to pay. Accuracy is essential to ensure that you do not make an overpayment of tax.
We currently provide small business accounting services to a number of companies in Sterling Heights that operate within a franchise environment. We can use our expertise and experience of working with this business model to assist franchise owners to identify areas for improvement. Working alongside your business, we can help to increase your performance and profitability.
THE SMALL BUSINESS SERVICES OFFERED BY OUR STERLING HEIGHTS CPA CAN HELP YOU STAY ORGANIZED AND PROFITABLE. FOR MORE INFORMATION, PLEASE CONTACT OUR OFFICE.