You can trust that when it comes to your business’ bookkeeping that The Tangible Effect knows exactly what they are doing for accurate and reliable financials.
Bookkeeping and accounting functions for your business are probably some of the most stressful and complicated non revenue producing tasks you worry about as a business owner. We get the frustration that you have of choosing between doing the books yourself (taking time away from more important things) or hiring an employee (knowing what to ask, trusting them to not steal from you, understanding where their skills end and where the information you need to run your business begins).
Accurate bookkeeping provides the foundation for most of the decisions you make for your business. Timely bookkeeping is imperative to make sure you have the cash you need when you need it. Monthly reporting is the feedback you need to know how you are doing against your goals. Quarterly data opens the conversation with the rest of your financial team to plan for taxes, goals and the future.
That’s a lot to put on the shoulders of any one person, in fact, it shouldn’t be one person at all. One of the best things you can do for your financial operations (and to prevent fraud) is separation of duties. Separation of duties (accounting term), means that you have more than one person looking at the books. For instance, the person who writes the checks should not be the person who reconciles the bank statements. The person who does invoicing should not be the person responsible for doing sales or making deposits. There is in checks and balance if there isn’t separation of duties.
Each member of the team at The Tangible Effect has specific tasks and responsibilities for each client. We can stand on the accuracy of the data we produce because we build our processes to include separation of duties, to seek out potential fraud, to review data for potential tax savings, cost savings or discussion about potential new growth areas. We become part of your team to make sure that your business provides accurate financial data for the rest of the finance team to support you in your business and succession.