Monthly Accounting Program Specifically Designed for Shop Owners
We work with over 600 shops on a monthly basis helping shop owners get a better understanding of their numbers and how to use them as a tool for their business. Most shop owners are not naturally interested in the financial aspect of their business but it is one of the most useful tools for them to work on their business.
WHY WE ARE DIFFERENT – HOW OUR PROGRAM WORKS
The way that our firm differs from a lot of accounting firms is that we find it extremely important to work with our clients throughout the year versus just at the end of the year. Most of our focus is on what we call our monthly clients. When we get a new monthly client we have a couple services that we provide that we call our onboarding services. These onboarding services are to ensure that the client is setup on their QuickBooks, that they are trained on how to use and keep the file looking good, and to get the historical information cleaned up and correct. Then once they are ready to go, they move into our monthly accounting services. At the end of the year, we obviously do income taxes as well.
STEP One of Our Program: ONBOARDING
A lot of times when we get a new client, they are not using QuickBooks at all or are not using it correctly. The first step for us is to get their file setup in a manner that gives them a useful tool to use as a business owner. This means to setup the chart of accounts so that they can quickly analyze and compare to their point of sale software to ensure accuracy. The next step is to clean up the QuickBooks file to ensure that the information that we are working with is correct and up to date. The final step is to go over all of this with the client so that they understand not only what we moved or changed but why. We then would go into training if necessary to ensure that the client has the proper knowledge and abilities to continue to keep the financials accurate. We then work with them on a monthly basis reviewing and preparing the financials which leads us to step two.
STEP Two of Our Program: MONTHLY ACCOUNTING SERVICES
Our monthly accounting services provide our clients with a dedicated team member for any questions regarding their Quickbooks, best practices or operational issues. We work with clients from coast to coast and can access everything that we need remotely. By being focused on our niche market we can provide un-paralleled insight into the intricacies of the automotive industry. Throughout the year not only are our team members making sure that our clients have timely and accurate financials, we are having periodic calls to not only review the financials, but educate the owner about what to look at and where to improve. Throughout the year we are also doing tax planning and tax minimization so that there are no end of year surprises. All of our clients know in the fall how much they will owe for the following year so that we have time to discuss options to lower the liability or setup a plan to save.
OTHER SERVICES
We have a number of services that we offer to shop owners that are not monthly clients. I will summarize the main ones that we work with shops on:
- Quickbooks Integration Help – We help clients ensure that their point of sale is communicating and integrating with their Quickbooks effectively
- Quickbooks Training – We sell blocks of training to help shop owners understand how to use their Quickbooks better and to go over best practices to save them time and money.
- Quickbooks Tailoring – Setup their chart of accounts so that it is a usefule tool for them to make management decisions
- Valuations and Succession Planning – Assist in valuing the business and assist in transition the owner out. Sometimes this is a non-cash transaction to get shares of the business to family members, sometimes it is a partner buy-out, and also working with owners to sell to an outside party. By focusing on the automotive repair industry we have a keen understanding of how shops are bought, transferred and sold.
- Income Taxes – We handle end of year income taxes for clients all across the country
- Payroll Processing – We have a web based payroll solution that our clients love and is usually a fraction of the cost of some of the large national payroll firms.
- Bookkeeping Services – We will maintain all bank and credit card accounts, ensuring 100% transaction entry and proper coding. We will prepare month-end reconcillation of all accounts, and enter data in QuickBooks for your POS system to ensure proper matching between the two platforms.