5 Step Process

Our 5 step method helps define, develop, and achieve your goals.

 
 

step 1 - Goal DEvelopment and roadmap

We start with reviewing and understanding your business, including:

  • Industry

  • Business drivers

  • Business goals

  • Business concerns

  • Immediate needs & priorities

We use this information to develop a roadmap to ensure the information collected and created by the eXtracc finance and accounting team supports your goals and enables you to achieve results.

 

step 2 - information and process validation

We then roll up our sleeves and do a thorough evaluationof your information and processes to:

  • Understand existing team’s capabilities and skillsets

  • Review existing information and structure

  • Perform data clean up when necessary

  • Validate processes and implement new processes where necessary

  • Refine how eXtracc integrates and augments with existing team

This ensures your business has the foundation for timely and accurate reporting.

 

step 3 - day - to - day accounting

With good people, processes, and technology, we support all levels of ongoing day-to-day accounting functions, including;

  • Invoicing, collections, and AR management

  • Bill entry, processing, and AP management

  • Bank/credit card date entry and reconciliations

  • Inventory process development and setup

  • Payroll processing

  • Operational processes and workflow documentation

  • Monthly close process

  • Staff mentoring and supervision of work

Basically, we help pay the bills, collect revenue, and ensure accurate information.

 

STEP 4 - FINANCIAL REPORTING

To enable you to make sound decisions, we provide timely and accurate financial statements that may include:

  • Profit and loss statement, balance sheet, and cash flow statement

  • Monthly management report

  • Aging report

  • Bank covenant requirements

  • Board meeting support

This gives you the information to better understand your business and identify issues in a timely manner.

 

STEP 5 - FINANCIAL ANALYSIS AND SUPPORT

Beyond standard reporting, we can provide business modeling and financial analysis to help you achieve your goals by providing actionable, measurable data, including:

  • Utilization analysis

  • Annual budgeting

  • Breakeven analysis

  • Client profitability

  • Margin analysis

  • Business specific KPIs

We help clients create tremendous value utilizing these tools.