Customers and requirements – This means meeting with customers and getting to know what they are working on, in which industry they operate and what is their main line of work. After that comes the part where the accountant is getting access to the customers’ accounting systems and looking in their P&L (Profit and Loss) Report.
Next, the customers must specify what is their need of accounting service and what kind of service they are interested in, as separate part like only invoicing, payroll, VAT submitting or total accounting service. Here, it is also important what bank they are using and how can accountants get access to the same for preparing payments and reconciliation of accounts.
The next steps are defining the timeline and way of communicating. Also, introducing what has been done and the best way of transferring the data.
After all, the best way of connecting with the client is when they introduce themselves and how their work is done, what`s their schedule and their habits.
Whether you own a small business or an enterprise-level one, financial statements provide essential information about your financial health.
Not every owner of a business is trained in accounting and bookkeeping and does not know how to interpret financial statements for the business. It is very hard for the owner to essentially operates the business blindfolded because of a lack of basic information about the business’ finances.
Questions such as how much their business was making profit, how much the company was spending, and what the profit margin was – were all unanswerable without the right keeping or interpretation of financial information.
This owner had high turnover with employees as well as maxed out credit cards and no information about their monthly sales.
After just two months of signing up with us, we were able to get their business books and up-to-date accounting on a monthly schedule. They were able to implement a new strategy for their operations and tighten financial control. Now, they know what are – Accounts Payable, Accounts Receivable, and how to review their budget, because their financial statements are prepared monthly by professionals.
Our professionals were able to help this business owner reduce their expenses through daily bookkeeping and financial planning.
Causeway Connect accounting system setup services assisted the client in setting up its critical accounting systems quickly. We pursued to provide our accounting services to our client to manage its regular payments, bookkeeping as well as financial statement generation for reporting.
The client also sought our valuable advice and assistance with their cash control and regular annual audits.