Your accounting system and setup is one of your most critical business information systems. It can
tell you how you are doing today and how you are doing over time. Most systems come with a
standard setup and more reports than you can ever figure out. They provide the tools but you have
to use those tools to build the information system you need to manage your business. Or, you can
let us build it.
Chart of Accounts: Most modern systems sold to small business owners come with a “Standard”
chart of accounts. You can certainly start here but, first, ask yourself, “Is your business standard?”
We work with you to understand your goals and how you evaluate your business. We create a chart
of accounts that help you see the information you want to see.
Summary accounts: Most standard charts of accounts are in alphabetical order and very detailed.
We like to arrange similar expense types together so they can be presented in summary on your
financial. For example, it could be more valuable to see your total occupancy cost rather than seeing
separate lines for rent, utilities, security, etc. We keep the detail but start with the summary so you
can see the big picture.
Standard Reports: We set up standard monthly reports that you can look at every month. Our
standard reports include period comparisons and trend analysis. We include Key Performance
Indicators and business ratios that you want to see. Seeing your business information consistently in
the same format each month helps you spot trends and helps you see the big picture.
Key Performance Indicators: Sometimes your KPIs are based on financial data. Sometimes they are
based on operational data. When you hire us to do your monthly accounting, we can create a
mechanism to track operational KPIs and reports to present them with the rest of your monthly
management reports.
