The owner of the manufacturing company now benefits from unprecedented support through our CPA firm. Rood & Dinis meets with him monthly to review financial statements and update him on current events and deadlines. Given that the owner is not formally trained in accounting or finance, a strong bond has developed between him and our firm, allowing him to rely heavily on our expertise. This regular communication and accounting support enable us to provide accurate quarterly updates on his tax liabilities, helping to prevent underpayment penalties and serving as an effective budgeting tool to set aside necessary funds.
To enhance the company’s accounting processes, our firm has implemented monthly accrual basis accounting closes, providing the owner with bank-ready financial statements. This improvement allows the owner to closely track receivables, collections, payables, and disbursements, painting an accurate operational picture that can be easily forwarded to banking institutions for equipment or business loans. Additionally, we have assisted his internal team with accounting training and relieved the company of sales tax return filings, further streamlining their financial management.
