Can you afford the “cost” of not using your financial reporting resources to their potential? And that includes your accounting firm.

Having all your data accessible is not important if you don’t use it to answer your pressing questions. Your data can be complied, sorted, organized and presented in customizable reports. You need to be shown what is and what is not possible with your version of QuickBooks®. You need to grasp the potential of your software. That’s what I do.

And you need the entire process to be efficient and remain efficient in the future. You need to be aware of “add-on” programs or modules that will give you tools for more “out-of-the-box” inquiries. And the “add-ons” need to be tested using your data until they met your approval. That’s what I do.

Having a reference at your office that illustrates those infrequent entries you must make and step-by-step instructions for repetitive entries is a time-saver, as well as being an instruction manual for new employees. That’s what I provide.

It is also important that your books and records can withstand external or IRS audits by having them integrate years of tax and accounting experience through the use of “issue-oriented” forms and solid standard operating procedures. That’s what I provide.

And you need an accountant who reviews the data entry on a timely basis; makes corrections and explains the reasons for the corrections; as well as making the normal adjusting entries at year-end.  This is what I call “no surprises” accounting and that’s what I do.

The accountant should also be involved in interpreting reports, in analyzing basic trends, helping establish budgets and providing detailed pro-formas when requested.  And that doesn’t mean just comparing a group of numbers and forgetting the extenuating circumstances that was part of one of the numbers. And that means working with you to “tear-apart” a good month as well as a bad one. That’s what I do.

And this should not be done without evaluating the impact of any business decision on your personal income tax liabilities.  Timing could be a major consideration as to whether or not some significant expense should be expended.  That’s what I do.

Only a comprehensive plan that includes the above will deliver the potential you should expect from your financial reporting resources. That’s what my plan does. What does your current plan do?