As a small business owner, you have many things on your mind – sales, customer relationships, inventory management, cash flow, etc. And, as much as it pains us to acknowledge, not everyone is as obsessed with accounting as we at The Arrache Group are. As such, accounting often falls off the list of things to chew apart and analyze. As long as the bills are paid, the lights are on and there’s money in the bank, this is about all the time you have to think about accounting. There is no time to study a P&L or analyze trends in cash flow. There is no time to consider how long you can run a business paying your vendors in 30 days while selling to customers who pay in 60 days. There is no time to figure out why the inventory controls you have in place still lead to a $3,000 monthly difference between what’s actually in your warehouse and what’s on your Balance Sheet.
This is where an expert Outsourced Accounting group comes in handy. By outsourcing your company’s accounting, you save yourself the cost of an entire accounting department (increased payroll, increased liability, increased overhead), but gain the knowledge of an experienced accounting team that will provide you with all the monthly and periodic reports, analysis, and updates you require. An effective Outsourced Accounting group will turn the accounting function from a cost center to a profit center.
Also, an outsourced accountant will bring you perspective on your industry that you may not get from an in-house team – we are seeing dozens of companies just like yours on a daily basis. We know what’s going on in the industry from a very broad point of view – we know what’s working out there and what’s not – and this could become invaluable to your company.
Among the services The Arrache Group provides:
- On-going bookkeeping
- Clean-up of accounting records on a monthly quarterly or other periodic basis
- Creation of accurate, comprehensive and timely financial reports
- Review and analysis of financial results and cash flows
- Development of budgets
- Establishment of effective internal controls, including development of an internal audit department
- Inventory control and monitoring
- Production of reports to keep management, directors, investors and external regulators apprised of key events
- Tax consulting
- Assistance with audit and tax engagements
- Reporting for the procurement of financing