We know how busy you are.
No business owner has time to sort through reciepts and organise their statments alone.
AAABA Will take your messy, showbox reciepts and organise them for you! We won't make you jump through hoops to get what you need.
And, with everything organised and on the cloud, you'll never worry about filing again.
This is usually part of the Compliance requirements in various Industries & Professions as well as for Companies limited by guarantee and Public Companies.
Typical audits that we perform are:
Construction Industry BSA related
Trust Accounts – Accountants
– Property management
– Real Estate
Grants – Entities who receive State or Federal Grants
This is highly advisable to be carried our PRIOR to acquiring a business. Although you may be happy to buy the enterprise that you are looking at, it may have some secrets. It is pivotal that you know as much as possible about the Enterprise that you are about to acquire. Depending on what the business does we would look at the following:
Financial Reports (preferably 5 years)
B.A.S (preferably 5 years)
Debtors (Accounts Receivable)
Creditors (Accounts Payable)
Ability to repay loans
Payroll & HRM contracts
Supplier contracts & dealings
Customer contracts & dealings
Assets & condition reports thereof
Cost benefit analysis (is it worthwhile for you to invest your money in this business?)
The most important reason for keeping accounting records is to be able to manage your business. Accurate and timely reporting gives you a good overview on how your business performs. Problems are discovered sooner, in time for corrective action, before the damage is too big.
There are typical danger signs of a business in trouble.
Here are some of them:
• Tax bills paid late or not at all
• Choice creditors/suppliers are paid (paid to the ones who scream the loudest)
• Staff superannuation not paid
• Creditors (Accounts payable) much higher than Debtors (Accounts receivable) & have been outstanding over 60 days
• Stock not moving fast enough
• Owners refuse to take calls
To manage your enterprise well you need to be in control of it. This would relate to every aspect of your business.
The basics would relate to the cost of products or services that you may provide, these need to be correctly calculated rather than “I’ll charge a little less than my opposition does”.
Entering into price wars is a recipe for business failure. We work with you, and at time bring in our Marketing Associate to place you in the market in a good position. In difficult times the inexperienced business owners will cut off their life support in order to reduce costs, then wonder why their business has failed. When times get tough you owe it to yourself to seek our immediate advice. You will have more options and chances to recover or get out in time.