Cash Flow Management Services
Every business records the financial transactions which can be quantified in terms of money. A business runs both on cash and credit. The credit transactions are recorded in the bank account and affect the vendor’s personal account whereas the cash transactions are noted in the cash book. All the cash dealing are reflected in the cash flow statement.
Cash flow statement is an important financial statement of an organization which records all the inflow and outflow of cash to the business. Thus it shows the sources where the cash comes to the business including the application of cash to different activities.
Irrespective of the nature of your business it is mandatory to follow a proper accounting process to prepare the financial statements. Cash flow statement helps the business owner to keep track on the finance in an easy way. You will get an idea of the solvency of the business at a glance of the Cash flow statement.
Entrepreneurs follow certain financial records to keep track of the money coming in and going out of their business. This, in fact, helps them in taking a crucial business decision. Depending on the same the business owner manages the working capital requirement, take a decision about the extension and downsizing of the business and also frame a future plan of action to be followed.
Thus a robust technique of accounting and bookkeeping is to be implemented to keep everything in check. So while talking about maintaining a proper accounting system there are two ways that you can adopt. The first one is to keep an internal accounting department for your organization and the second alternative is to shift the accounting task to a third party which is called accounting outsourcing.
In the first option, if you are keeping domestic accounting help you will be landing up with many issues. First of all, it is not an economical process. You have to spend more on the in-house staffs.
Consequences of keeping internal accounting department:
- Irrespective of the work requires you need to give them a salary for the whole year.
- The money involved in the process of hiring the staffs is more.
- You need to appoint a recruitment team to search the proper talent
- You have to spend on the staff retention.
- Apart from salary certain employee benefit plans has to be implemented
- Lots of effort needed to search the skilled employees.
- The cost involved in the training of the professionals is high
- There is always be a fear of leaving the employees at the time of requirement.
Analyze the things and take sensible decision. You know your business the best. Look into the strength and weaknesses of the business. Draw out the interpretations. Identify the core and noncore activities. A wise entrepreneur always delegates the noncore activity and reduces the work burden of the in-house staff.
This helps the organizational growth in two ways. Firstly it increases their efficiency level due to a reduction in workload. You can deploy the resources to other productive work in order to bring more profit to the business. You can concentrate on the core of the business like building a public relationship, good client service and enhancing business reputation. These are the business strategies that should be followed to be in the top among the competitors. All the business in the industry concentrates on production, marketing, and distribution. You need to think out of the box. The activities like knowing your competitors, customer satisfaction and brand building activities are more significant nowadays.
So we suggest you implement outsourcing accounting services. This will reduce your business headache and free you up from the business responsibility. Thus you can devote your time to your business and make the most of it.
Shift your accounting and bookkeeping responsibility to us. We are the trusted partner in the field of accounting. We serve all the CPA, individual firms and big and small business organizations operating in the USA. No business house can ignore maintaining account keeping and preparing financial accounting outsourcing records. So select the best outsourcing company to get your thing done.
The financial statements we provide are clear, concise, concrete and understandable. We use easy language and simple language so that it does not need any technicality. A layman can understand the things and take important business decision basing upon at a glance of it.
We provide you with all the financial statements following the prescribed structural form. We comply with the US business regulations and accounting standards. Our summarized report is very useful for you to know the financial health of the business in an easy way.
Outsourced bookkeeping prepares all important financial statement required for your business like profit and loss statement, Balance sheet and cash flow statement.
- Profit and loss account otherwise known as income statement determines the revenue earned by the business.
- A balance sheet shows the financial status of the business
- While cash flow statement demonstrates the inflow and outflow of cash.
Significance of preparing Cash Flow Statement:
Cash Flow Statement shows the overall financial solvency of the business through focusing on the sourcing and application of cash. It determines the working capital requirement and other financial need of the business. An entrepreneur can take important business decision basing upon it.
as per the legal compliances pertaining to trade regulation act, every business is required to prepare the financial statements. It’s not just the organizational requirement but caters the need of several other parties involved in the scenario.
Beside the entrepreneur, there are other internal and external parties interested in the profitability of the concern. They are keen to know the income earned by the company, its creditworthiness in the market and the sources and application of resources.
We can provide you a consolidated report on that which can help you to satisfy your business need. All the parties starting from creditors, competitors, customers, investors, to the government are interested in the financial report of a business in some way or other.
- Creditors want to know if the company can repay the loan.
- Competitors are concerned about the price strategy of the company
- Customers want to know about the cost of production
- Investors mind the creditworthiness of the company
- The government wants to know the profit earned by the business for the purpose of income tax implementation.
We have managed various types of businesses in the for-profit and not-for-profit sector in the United States. The following list shows you a brief sample of them:
Cash Flow Management for Businesses List
- Real Estate Business
- Retail Business
- Small Businesses
- Legal Service Provider
- CPA Company
- Doctors Offices
- Landscaping Company
- Online Publishing Businesses
- Construction Companies
- Grocery Stores
- Painting, Cleaning & Janitorial Companies
- Auto & Trucking Companies
- Jewelers Businesses
- Masonry Contractors
- Gift Stores
- Carpentry Business
- Beauty Salons
- Printer/Graphics Business
- Pets & Animals
- Lawn Service & accessory
- Real Estate Rentals
- Travel Agency
States where we mostly provide our cash flow management services:
We specialized on states located in the east coast like: Florida, New York, Georgia, South Carolina, North Carolina, Maryland, Virginia, Tennessee, West Virginia, Washington DC, Delaware, New Jersey, Connecticut, Massachusetts, New Hampshire, Vermont, New Brunswick, Arizona and California.