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:
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
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
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:
Business specific KPIs
We help clients create tremendous value utilizing these tools.