Services
Prepare for Your End Game
The day will come when you want to sell your business. Get top dollar. Prospective buyers require three years of detailed, well-supported financial statements. You can only have those if you start now with clean books because you won’t have time to go back and fix them when potential buyers show up. She’s ready to buy your company now, but only if you can justify your price. LedgerCraft Pro ensures you will have what she needs.
Know Your Margins
Sound decisions require knowing your gross and net profit margins. They express in simple numbers your business’s efficiency and allow you to benchmark your performance against industry averages. If your margins exceed the average, you’re doing good. If not, your clean and accurate books give you the information you need to improve your bottom line.
Tax Audits
Every year, your business faces potential tax audits of prior tax returns from the IRS, your state tax department, and maybe even a local taxing authority. Can you support the numbers you entered on those returns? Are you thinking that you don’t need to worry because a CPA prepared your returns? Your CPA prepares your taxes based on the numbers you give her. If you give her bad numbers, she’ll prepare a faulty tax return. And she won’t be paying your penalty when the tax man does his audit. Make sure you give her good numbers.
Business Financing
Are you ready to hit the next growth level with your business and do you need some capital for expansion? Banks are in business to give you what you need, but only if you can convince them that you have a handle on your financial affairs. Two to three years of rock-solid financial statements are generally required. Be ready.