Clarity to Advance

January 10, 2022

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Business owners invariably have the best of intentions when it comes to maintaining clear and organized accounting records. Over time, however, the stress and responsibility of owning and operating a company of any size can cause the fine details of accounting to fall to the side. Once the books have become messy and confusing, it’s quite difficult to get back on track.

Enter AXCELERATE, our proprietary business performance management solution that helps businesses get the insight they need from their accounting and operational systems. We’ll assist you in clarifying and interpreting your financial and operational performance and reveal the data that will illustrate where your company is struggling and where it excels.  

We’re here to turn jumbled transactions into strategic insight. Your business decisions should be based on clear and accurate information. Our first step will be to guide you through the clean-up of your accounting and business information systems with AXCELERATE.

As we comb through your accounts, we will consider the need to implement the following strategies:

Job Costing

Job costing is a method of precisely tracking the profitability of each project. We will help you identify the most important information to track, evaluate the best method to capture the critical information, and guide you through the interpretations to identify inefficiencies that are potentially leading to errors in bidding and cost over funds, ultimately resulting in reduced margins, profits and cash flow.

Reporting by Division or Product Line

When information can be segregated into meaningful subcategories, you are able to gain more insight into the overall performance of the business.  By evaluating each segment individually, we can determine the profitability of each segment on its own and its contribution to the company as a whole.  This helps identify when prices may need to be modified or inefficiencies need to be improved.  

Refining Your Processes for Recording Complicated Transactions

Complicated transactions will be analyzed, and we will help you develop an easy to use template to record the transactions on a regular basis.  Payroll, for example, may require a customized, unique process to ensure your payroll department can quickly, efficiently, and accurately process the distribution of wages among various accounts. It is important that transactions are recorded properly and consistently each month so that the metrics that rely on this information are accurate and meaningful.  For example, if wages are not properly allocated between direct and indirect labor, profit margins will be inaccurate.  

Enhancing the Chart of Accounts and Presentation of Financial and Operational Information

Your company’s financial reporting should be a key tool for your organization. It is used as a complete directory of every account in the company, so it must be accurately divided into subcategories and properly organized so that the information is meaningful and provides clarity into the performance of the business.  We will work with you to capture and extract information out of your accounting and business information systems that can be used to develop metrics that will help drive company performance.  

Educating and Training Your Staff

The only way to ensure that your company stays on track is for our team to work closely with yours. We’ll ensure that your accounting staff and management team are fully trained and ready to use AXCELERATE to its full potential. Our process includes continual education that not only helps you understand what the data means but how to interpret it and use it to your advantage.  

To begin the process of gaining full control of your company’s performance, contact us today.