Ever watch Shark Tank? The Sharks are all about asking business owners the specifics of their financials.
Are there questions you ask yourself which you cannot answer or accounting problems you are struggling to solve? Our business advisory services will help you make smarter decisions. These examples below highlight our skills as a business cash flow analyst and expertise with financial data. We may ask you some hard questions but often we can find out where you may be leaking profits.
Accounting Consulting Services
Below are several ways we have helped businesses in the Bucks County, Montgomery County and across the country.
1) Should I raise my prices?
A family business owner was overwhelmed with all the actions required to move the company forward. Cash flow was tight and the owner was afraid of raising prices for fear of losing customers. CMF Accounting came in as a QuickBooks consultant to clean up the data and to review the increase in ingredient costs. When faced with the black and white of how costs went up and margins were being squeezed, the business owner reluctantly agreed to raise prices. The result – not one customer noticed or complained. Additional profit improved the cash flow.
2) Why is my cash flow so bad?
A client was having difficulty finding time to send out invoices. Without billing on a consistent basis, there were major cash flow problems. Worked with the business owner to develop an accounting system and standardized forms to record information when work was completed. This enabled invoices to be sent out in a timely manner. Prompt invoicing plus a dunning policy, increased operating cash flow and decreased bad debt.
3) Which products or services made me the most money?
A family business had three distinct types of services. The owners frequently were overwhelmed with too many proposals to write. Using advanced QuickBooks features to determine which type of service was most profitable, they were able to prioritize their time and write the highest margin proposals first. Financial analysis provided focus, reduced overwhelm and stress and increased profit.
“CMF accounting has assisted Quire in streamlining our billing process. Cathy is reliable, dependable and is willing to do what it takes to get a job accomplished. Cathy is a great asset to Quire, and we’re proud to work with her.”
—Hayden Janssen, COO
Quire, LLC, based in Doylestown, Pa