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GTA Greater Toronto Area, Ontario, Canada | info@simcoeoffice.com
This essential report is a view of your reconciled account summary that will include a year to date total for each category of income and expense, and most importantly, your profit for the year to date.
Gain confidence in your numbers
The real power of a cloud accounting system is having important management information on hand. Information such as, who owes you money, what are your sales this month and are you making a profit?
We set up the key reports you need so that the most important information is always a click away. Having your finger on the pulse of your business is critical for making the right business decisions. You need to know the key numbers.
Summary management reporting
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KPI Financial Dashboard
Monitor your key predictive indicators (KPIs) with our Financial Dashboard.
We will set up your Financial Dashboard: a fully customizable screen showing you the key financial information you need to run your business.
You’ll come to rely on this Financial Dashboard just as much as you rely on the dashboard in your car when driving.
Go farther with in-depth controls
Cost control: Expense monitoring, analysis and advice
Managing costs for any business is so important. We will work with you to identify the most critical costs in your business.
Whenever we notice a sudden change we will contact you so you are immediately aware. As part of this service we will also advise you on how to keep costs under control.
Inventory control
Inventory control and management will help you keep track of inventory levels to ensure you never hold too much inventory (which ties up cash) or run out (and miss out on sales).
Simplify purchase orders, transfers and stock-takes by using automated reordering based on specified inventory levels to make sure you never have too much or too little inventory on your shelves.
Accounts receivable monitoring
A key part of cash management is keeping control of debtors and the amounts of money you are owed by your customers.
One of the most important financial ratios is called accounts receivable days. We will monitor this for you and if we see a substantial change in the wrong direction, we will give you a call to make sure you are aware and offer suggestions for getting this key ratio back under control.
Enhanced credit control
Our Enhanced credit control service will identify all the options available to your business to help you get paid quicker and have more money in your bank account.
We will also review outstanding invoices with you, advise on your terms and conditions of business, advise on your options for recovering outstanding accounts receivable, consider the need for write-offs and bad debt provisions and advise on alternative payment options. This service will help put more money into your bank account.
Precision accounting with accruals and prepayments
Accruals and prepayments need to be added via adjusting journal entries so that the financial statements report these amounts.
Why is this important? If you do not adjust for accruals and prepayments your income, expenses and profit for any given period will be distorted and inaccurate.
Here is an example: If your rent is paid quarterly, then every third month you have a big expense in your accounts but then no charge in the second and third month. So we need to spread this cost across each of the 3 months it relates to get a true and accurate picture.