LET’S TALK ACCOUNTING

Business Accounting

As a business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits. We can process accounts payable, accounts receivable, and payroll. We can reconcile your bank accounts and generate an income statement and balance sheet, clean up your general ledger and provide consultation on your financial results. These tasks form the solid foundation of your small business accounting system.

1Source can provide a team of accounting professionals who integrate within the organization to service the accounting function. This suite of services includes a personally assigned senior accountant to manage the day-to-day bookkeeping and entry of transactions into the accounting system, while CFO duties and tax management services are fulfilled by our highly-skilled CPA’s.

1Source can also provide clients with interim accounting services to fill-in during periods of transition resulting from employee turnover at any level. We can also provide assistance with hiring and training new accounting staff.

Additionally, 1Source can offer oversight of special projects that may arise, such as the implementation of new accounting software or the development of accounting policies.

Part-Time CFO / Controller Services
Growing businesses often reach a point where they need professional financial advice, but can’t afford a full-time CFO or Controller.

Our Part-Time CFO/Controller services give you a professional financial manager who works with you to help guide your business to success.

The cost of hiring a full-time CFO/Controller can be over $100,000 per year plus bonuses and benefits. Our Part-Time CFO/Controller services provide you with experienced support at a small fraction of that cost.

Here’s what you get with our Part-Time CFO/Controller services…

  • More time to focus on new services, new customers and other core business issues.
  • A better understanding of the financial side of your business resulting in improved decision-making capabilities.
  • A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
  • The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
  • A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
  • Training and managing your accounting staff.
  • Improved quality and timeliness of financial information.
  • Budget preparation and monitoring.
  • Profitability analysis by service or product line.
  • Trend analysis.
  • Assistance in defining long-range plans and the quantification of goals.
  • Cash flow management and analysis.
  • Liaison with bankers, attorneys, vendors, insurance agents, etc.
  • Assistance in obtaining financing from banks, including assistance with negotiations.
  • Review/negotiation of insurance policies.
  • Development of company accounting procedure manuals.
  • Analysis of equipment purchases, expansions, etc.
  • Mergers and acquisitions assistance
  • Custom designed collection policies and procedures

If you’d like to learn more about our Part-Time CFO/Controller Services please connect with us through our Contact Us page.

New Business Formation

Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill have worn off that dictates whether a small business will make it or not.

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill have worn off that dictates whether a small business will make it or not. It’s up to you to maintain and stretch out the “thrill and excitement” period forever.

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you…

  1. Determine your start-up capital needs.
  2. Identify sources of start-up capital and backup sources if needed.
  3. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
  4. Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation, and portability should you need to relocate.
  5. Select the right accounting software by evaluating your budget, needs, and hardware.
  6. Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
  7. Establish billing and collection procedures to maximize your cash flow.
  8. Establish procedures to monitor and control costs.
  9. Prepare and file all required state and local licenses and permits.
  10. Prepare and file your application for your Federal Employer Identification Number.
  11. Provide payroll and payroll tax-filing when you bring on your first employee.
  12. Identify your business insurance needs.

Let us help you succeed by getting your new business off to a good strong start. Please connect with us through our Contact Us page to learn more about our New Business Formation Services.

MORE INFORMATION

Interested in learning more about how we can support your business?