Every small business handles its accounting based on the accounting skill of owner and/or available funds to hire staff or service provider. When a limited budget forces an owner to have an untrained professional to handle these functions, the result often is inaccurate financial statements. This problem becomes compounded when it is necessary for the business to use financial statements such as income tax preparation, debt applications, or request for proposal applications. Then the owner must take time to correct the compiled errors or missing financial statements.
More immediate is the lost productivity opportunities to improve cash outflow. It is impossible to improve operations without evaluating accurate interim financial statements. In these challenging times, it is vital that a company maintain competitive advantages over its competitors. Time spent by owner correcting financial statements is time away from prospective or current customers.
Many business owners want to hire an accounting professional for needs ranging from bookkeeper, CFO, or service level in between but need a fee structure sensitive to both the owner's accounting duties performed internally and company budget. It is believed that service providers will offer services that may overlap existing operations. Until NOW!