Consortia Accounting System
An accounting system is a set of tools, processes, methods, policies, procedures, and controls that gather, record, classify, analyze, summarize, interpret, and communicate business information.
The purpose of accounting is to communicate a business’s financial position, profit, and cash flow. Our Accounting System communicates and increases your financial position, profit, and cash flow.
When we developed our Accounting System, we analyzed every component of an accounting system. We adapted leading tools and technology and developed processes, methods, policies, procedures, and controls to efficiently and productively increase a company’s financial position, profit, and cash flow.
Our Accounting System includes:
- An eCommerce website
- Bookkeeping
- Payroll
- Accounting
- Reports
- Business performance analysis
- Cash flow management
- Tax planning and preparation
eCommerce Website
eCommerce is a general term that includes virtually any transaction that takes place on the Internet.
An eCommerce website is a website with eCommerce functionality that allows customers or clients to purchase and pay for your products or services via the Internet.
Your website should increase sales and receipts. It should also integrate with your accounting system so you can gather, record, and classify sales and receipt transactions and your accountant can analyze, summarize, interpret, and communicate sales and receipt information.
Our eCommerce websites increase sales and receipts and integrate with your accounting system.
Bookkeeping
Bookkeeping is the day-to-day gathering, recording, and classifying of financial transactions, such as sales and receipts and purchases and payments, and is the foundation of your accounting system.
Bookkeeping is critical to cash flow because bookkeeping controls the timing of receipts and payments. Effective cash flow management requires that receipts be received as soon as possible, and payments are paid as late as possible, but on time to maintain vendor relations. Bookkeeping also determines whether your business information is timely, relevant, and reliable.
Our bookkeeping process increases your financial position, profit, and cash flow and is the foundation for timely, relevant, and reliable business information.
Payroll
Payroll and employee benefits are your highest business expense and should receive constant attention.
Effective cash flow management requires payroll, payroll taxes, and employee benefits to be paid as late as possible, but on time to avoid penalties and interest. Payroll and employee benefits expenses should be reviewed and negotiated at least annually.
Our payroll process ensures your payroll, payroll taxes, and employee benefits are paid as late aspossible, but on time.
Accounting
Accounting involves analyzing, summarizing, interpreting, and communicating business information.
Business information is communicated through financial and management reports and businessperformance analysis.
Business decisions are based on financial and management reports and business performance analysis.
Business information must be timely, relevant, and reliable since business decisions can make or break business success.
Our accounting assures the owner that their business information is timely, relevant, and reliable.
Reports
Bill Gates stated, “The term, information at your fingertips, is to remind people what a broad role the personal computer will be playing. It is not a computation device; it is not a word processing or a spreadsheet device. It is a window into the world of information.”
Financial and management reports are the window into the world of business information.
At the end of each day, week, month, quarter, and year; our Accounting System provides financial and management reports that keep owners informed of their financial position, profit, and cash flow.
These reports communicate daily, weekly, monthly, quarterly, and yearly business performance and help owners make better business decisions.
Business Performance Analysis
It has been said, “You must know where you are to decide where you are going.”
Our business performance analysis analyzes your company's key performance indicators (KPIs). KPIs are the elements of a business performance plan that express what the owner wants to achieve and when they want to achieve it. They are the quantifiable, outcome-based indicators used to measure if the owner is on track to meet their business performance goals.
The owner uses the analysis to know their company's performance and make better business decisions.
Our business performance analysis helps the owner know their company’s financial position, profit, and cash flow; make better business decisions, and increase their financial position, profit, and cash flow.
Cash Flow Management
As any business owner knows, cash is king, and it is no coincidence that "Cash" is the first line item on your balance sheet. A classified balance sheet is presented in the order of liquidity or in the order of the amount of time it takes an asset or liability to convert into cash.
The purpose of a business is to generate cash and what you do with that cash is your business
Our Accounting System is designed with cash flow tools, technology, processes, methods, policies, procedures, and controls to increase your company's financial position, profit, and cash flow.
Tax Planning and Preparation
Tax planning is a plan, from a tax perspective, to reduce tax liability and prepare for retirement.
Tax preparation is preparing the tax return after the tax year is over when most opportunities to reduce tax liability are gone.
Our tax planning reduces the owner’s tax liability and prepares him or her for retirement.