The close stops being re-keying
If the accounts feed off the operation, closing the month means reviewing rather than re-typing. That is where the weeks are won.
Accounting and financial advice integrated with your systems: so the month-end close does not take two months, so tax filings come out of the operation, and so the statements are good for deciding, not just for filing.
What it solves
In many companies the accounts run two months behind and exist only to satisfy the tax authority. By the time the income statement arrives, the decision that depended on it has already been made by eye — and nobody can explain why the margin fell, because the data comes aggregated and late.
What is included
If the accounts feed off the operation, closing the month means reviewing rather than re-typing. That is where the weeks are won.
606, 607, 608, 609 and the IT-1 generated from what is recorded and reconciled against the statements, instead of assembled separately against the clock.
With properly defined cost centres you know what makes money and what does not. A global figure only tells you something is going on.
Receivables against their account, inventory against its own. That is the check that tells you whether the accounts describe reality.
Margin, break-even point, cash flow and cost structure, explained in business terms rather than in accounting line items.
With the paperwork in order and the backup for every figure easy to find. An audit with the house in order costs half as much.
How it works
Processes, chart of accounts, closes, and what reconciles and what does not.
So the journal entries come out of sales, purchases and payroll.
A close in days, tax filings from the data and analysis you can use.
In detail
It is a decision problem: the numbers arrive once the decision has already been made without them. That is why we attack the re-keying, not typing speed.
If half the costs go unassigned, the result by area is a fiction. The first thing to do is measure how much is left out.
If the sales declared and the sales recorded do not match, one of the two is wrong — and both have been filed.
The estimated cost is recognised and then the invoice arrives. If the accrual is not reversed, the month's result lies.
And that is normal. The problem is when nobody knows by how much or why: that gap has to be explainable.
Having the whole accounting function outside is convenient until you need a number quickly. The boundary gets set at the start.
Who it is for
And you decide without the numbers.
And the forms get put together by hand.
Because all you see is the overall figure.
Common questions
Both, and the boundary is best decided at the start: outsourcing it entirely is convenient until you need a number quickly.
Yes. And if the problem is that the accounts re-key everything by hand, that is where the weeks are won.
Yes: 606, 607, 608, 609 and the IT-1, from what is recorded and reconciled against the statements for the same period.
Yes, with properly defined cost centres. The first step is measuring how much cost goes unassigned, because that decides whether the report is any use.
Yes, with the preparation beforehand: an audit with the paperwork in order and every figure traceable costs half as much.
That is the first thing we look at: receivables against their account, inventory against its own. That comparison tells you whether the statements describe reality.
And also
We will show you Accounting Consulting running on a case much like yours, with no obligation.