An accounting department maintains important processes for your company. Clear processes and smooth execution make a significant difference to growing companies:
Any business needs to have insight into their revenues and expenses. Clean accounting records are a sign of a reliable business and management team and are required when you want to take on business loans, partnerships and sometimes new clients. Walsh Partners does a thorough review of your business processes and documents, then reviews, creates and in some cases rebuilds accounting records for clients. The result is a reliable record of business transactions, an understandable set of reporting tools to understand profit and loss, cash flow and provides the basis for reliable budgeting / forecasting.
Our clients are busy creating value for their customers. Even successful professionals have struggles with tracking invoices and paying bills because it’s a hassle. With Walsh Partners, you can get a better handle on financial obligations and bills. Reliable, easy to manage processes ensure you won’t miss a bill, incur a late fee or penalty, double pay or pay early a bill you have from one of your vendors or suppliers. Only pay what you owe, pay it only when it’s due, pay it once, and let’s make sure you received the products or services for which you’re paying when you trust your bill payment to us.
Bookkeeping entries are vital to understanding the financial health of your business. However, too many entrepreneurs and small businesses use their bank balance as a mental surrogate for how much cash their company has. Bank Account reconciliation is a critical piece of the puzzle to ensuring that your true cash balance reflects cash obligations, uncleared checks, payments you have not yet received and delayed transactions in your account. This is vital, and it can mean the difference between bouncing a check or delaying important business activities.
These days, most of our businesses incur ongoing expenses – and to transact, you can’t just dole out petty cash to all your employees, and you may not want to carry cash around anyway. Also, vendors may not always issue an invoice against a PO for some transactions, like a ‘quick run’ to the hardware store. Credit cards and debit cards are ubiquitous in the business world. They provide convenience in the moment, but they also harbor pitfalls because they can be hard to predict and control, especially in the hands of employees. Proper, regular reconciliation of credit card accounts is the feedback loop that helps control spending, monitor cash and stay on top of projects and your business.
Audits or accounting reviews are sometimes mandated by contracts, clients, grantors, investors, lenders or municipalities. Rather than ‘slip the envelope under the door’ of a CPA or auditor, Walsh Partners can review and prepare your accounts, transactions, reports and submissions to put your best foot forward in such situations. When clients have heard back negative outcomes from such reviews, we help you remediate processes and books to correct insufficiencies unearthed by an audit and help clients get back on track.
Many businesses have expertise in providing their service or creating and selling product, but sometimes the bookkeeping, accounting, tax prep and remittance, and general business compliance get out of control. Walsh Partners can help rebuild reliable and accurate accounting records, then help maintain them so you can focus on what you do best for your customers and go create value for your business.