Outsource Your Accounting to
Precision Accounting and Consulting

Running a small business comes with its unique set of challenges, and efficient financial management is paramount to its success.

Precision Accounting and Consulting (PAC) understands the needs of small businesses and provides a range of accounting services to help them thrive. Here’s why small businesses need accounting services and how they can benefit from them:

The Need for Accounting Services

  1. Focus on Core Activities: Small business owners often find themselves wearing many hats. Managing day-to-day financial tasks can be overwhelming and time-consuming, diverting attention from core business activities. Professional accounting services allow business owners to focus on growth and customer service.
  2. Financial Accuracy: Small businesses need to maintain precise financial records to meet their obligations, including taxes and audits. Accounting services ensure that financial data is accurately recorded and reported, reducing the risk of errors and financial penalties.
  3. Compliance: Tax laws and regulations can be complex, and small businesses need to remain compliant. Accounting professionals stay updated with the latest tax laws and ensure that small businesses adhere to them, minimizing compliance-related risks.
  4. Cost-Efficiency: Hiring an in-house accounting team can be costly, especially for small businesses. Outsourcing accounting services can significantly reduce operational expenses.

How PAC Benefits Businesses

At PAC, we offer a comprehensive suite of accounting services tailored to the specific needs of businesses. Here’s how we can help your business:

Accounts Payable Services

Our accounts payable services are designed to streamline your financial operations, saving you time and resources:

  • Transaction Processing: We post business transactions, process invoices, and verify financial data to maintain accurate accounts payable records.

  • Clerical Support: Our team provides the necessary clerical support to pay your organization's obligations, ensuring efficient financial processes.

  • Financial Document Accuracy: We make sure your financial documents are accurate, which is crucial for payments, auditing, and tax purposes.

  • Reconciliation: We reconcile accounts payable to ensure all payments are accounted for and prevent duplicate payments.

  • Regular Verifications: If requested by the client, we can verify payables on a weekly basis, seeking approval from management.

  • Vendor Engagement: We engage with and handle vendor inquiries, track payments, fulfill statement requests, and initiate ACH transfers upon request.

Accounts Receivable Services

Efficient accounts receivable management is vital for maintaining cash flow and business stability. We offer:

  • Receipt Processing: Our services include processing, verifying, and posting receipts for goods sold or services rendered.

  • Discrepancy Resolution: We investigate and research any discrepancies, ensuring accurate record-keeping and preventing revenue leakage.

  • Status Maintenance: Our team maintains records regarding payments and account statuses, providing you with real-time financial insights.

Controller Services

Our controller services go beyond traditional bookkeeping and accounting. They encompass the full spectrum of financial management, including:

  • Planning, Direction, and Coordination: We plan, direct, and coordinate all accounting operational functions, ensuring financial processes run smoothly.

  • Cash Flow Management: Our team manages your business's daily cash flow, reconciling, transferring, and maintaining a positive cash flow in all bank accounts. We are the financial watchdog you need.

  • Financial Data Accumulation: We accumulate and consolidate all financial data necessary for an accurate accounting of consolidated business results, providing you with real-time insights.

  • Internal and External Financial Statements: We coordinate and prepare both internal and external financial statements, ensuring compliance and transparency.

  • Decision-Making Support: We provide management with information vital to the decision-making process, offering financial clarity for strategic moves.

  • Budgeting and Variance Analysis: Our services include budgeting and variance analysis to help you manage your resources effectively.

  • Operational Assessment: We assess current accounting operations, offer recommendations for improvement, and implement new processes to enhance efficiency.

  • Internal Control: We evaluate internal operations to help implement internal controls, safeguarding your financial processes.

  • Software and Database Evaluation: Our team evaluates the effectiveness of accounting software and supporting databases, making necessary updates and improvements.

  • Regulatory Reporting: We oversee regulatory reporting, frequently including tax planning and compliance, ensuring your business remains in good standing.

CFO Services

Our Chief Financial Officer (CFO) services provide a higher level of strategic financial expertise. We offer:

  • Strengths and Weaknesses Analysis: We analyze your business's strengths and weaknesses, proposing corrective action plans when necessary.

  • Accurate Forecasts: We prepare accurate forecasts so that management can make informed decisions about future investments or cuts, reducing financial uncertainty.

  • Sales and Profit Analysis: We compare sales and profit projections to actual figures and budgeted expenses to actual expenses, making necessary adjustments to future projections and budgets.

  • Long-Range Economic Trends: We study long-range economic trends and project their impact on future growth in sales and market shares, helping you make strategic decisions.

  • Burn Rate Analytics: We examine how much cash your business is burning through and execute strategies to close financial gaps, ensuring a healthy cash flow.

  • Variance Analysis and Budgets: We conduct variance analysis along with budgets to fine-tune your financial strategy for optimal performance.

Get Peace of Mind With Our Professional Accounting Services

Businesses need accounting services to navigate the complex financial landscape efficiently. With PAC as your partner, you can focus on what you do best while we handle the financial intricacies. Our experienced professionals will ensure financial accuracy, compliance, and cost-efficiency, empowering your business to thrive.

Don’t let financial management become a burden. Contact Precision Accounting and Consulting (PAC) today for a free consultation and discover how our accounting services can benefit your small business.

Let us simplify your financial processes, saving you time and money. Contact us now for a free consultation, and let’s embark on this journey to success together!