26th Street Bookkeeping Services26th Street offers a full range of bespoke bookkeeping & accounting services. Solutions are customized for the specific needs of the client's business, so you get the financial information you need to drive your business and make the well informed decisions.
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Are you experiencing these challenges?
The Top 5 challenges and pain-points clients usually face before they come to us.
My books are a mess.Accounting and bookkeeping are some of the biggest stressors for business owners. It’s pretty natural for us to ignore the financials or any other task when we feel overwhelmed. Many clients, especially those who work in highly creative enterprises come to us drowning in paperwork because they don’t think they can’t do it. When you put the ideal people, processes and technology in place, your books will transform into a goldmine of information to help you make well-informed decisions about your business. The best part is, it doesn’t have to be stressful at all.
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I don't know how my business is doing.Many clients that come to us have a hard time planning for the future because they just don’t have enough detail to see the financial patterns in their business. Your “Profit and Loss”, “Balance Sheet”, and “Statement of Cash Flows” measure the health of your company and show you where you may need more attention. The metrics contained in your financial statements are essential in giving you confidence about when you should expand and grow and will also help you determine the capital you may need to finance your expansion and growth.
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My clients are slow in paying me or are not paying me.Accounts receivable can be one of the most challenging areas of any business. Most businesses don’t have clear invoicing processes or accounts receivable (A/R) monitoring mechanisms in place to proactively keep revenues flowing on-time. This usually leads to the uncomfortable task of pursuing collection, but it doesn’t have to be that way. Invoicing processes, A/R monitoring mechanisms, and client contracts should be setup to reduce this burden and make it easy on clients to process payments.
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My tax preparer is spending a lot of time preparing my taxes.Tax preparation can be extremely time consuming under the best conditions and that can get expensive. Getting your chart of accounts in order and maintaining it that way can save you hundreds of dollars in tax preparation fees. Once the right people, processes, and technology are in place, you and your tax preparer can have clear insight into how to get the best deductions for your business.
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I don't have the tools I need.The right technology can be one of the biggest game-changers for businesses when implemented properly. On the other hand, technology can also be an expensive pain-point without proper evaluation and execution. Choosing the best platform based on your size, processes, and goals is critical to running your business. There are no one size fits all solutions out there as much as vendors would like you to believe. Identifying the best tools and implementing them can transform your business and be a huge positive catalyst.
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Take Your Bookkeeping & Accounting to the Next Level
26th Street redefines traditional bookkeeping services by taking a 360 degree view of your business. We look at your business, technology, compliance, operations, and workflow to give you the best solutions and tools to keep you ahead of the curve. We also connect you with an impeccable network of professionals in related industries that can help take your business to the next level.
- Maintain books on Cloud Accounting platforms such QuickBooks. XERO, Studio Designer, Design Manager, and Ivy
- Evaluate and implement Connected Apps to share data between Cloud Accounting providers and Third Party Software Providers
- Re-organize chart of accounts to facilitate better/more meaningful reporting and easier/more cost effective tax return preparation
- Reconcile bank, credit card, and loan accounts as well as any key control accounts to facilitate completeness and accuracy
- Historical review of general ledger to identify errors or inconsistencies that could impact the accuracy of the financials and your decisions.
- Provide processes and technology audit to streamline operations, reduce costs, and save time
- Develop bespoke financial reporting package that provides you with the information you need to manage and grow your business
- Track expenses and revenue across multiple locations, stores, and channels
- Accounts receivable collections and recommendations to minimize losses
- Coordinating with outside professionals and consultants such as tax and information technology professionals
HOW WE CAN HELP
Everything we do is customized for your specific needs. Whether you are a new business just starting out, or are ready to grow to the next level, we can help. We can help in many ways including:
Books CleanupWe do a thorough review of your accounting records to determine the nature and extent of the errors and the work required to make the necessary corrections. Our work includes reconciling all bank, credit card, loan, and control accounts. We also re-organize the chart of accounts to facilitate better/more meaningful reporting and easier/more cost effective tax return preparation. We can also develop bespoke financial reports and analyses tailored to your specific needs.
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New Business Set UpWe can guide and assist you through every step of setting up your new business. From registering your business and Fictitious Business Name (dba) through obtaining a state resale certificate and employer payroll tax account to applying for a federal Tax ID (EIN) number. We also can provide insight into which type of person or legal entity your business should operate. Types include Sole Proprietors, Partnerships, Corporations, and Limited Liability Companies.
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Systems and Process Re-engineeringWe evaluate your business, technology, operations, and financial processes looking for opportunities to reduce time, effort and money spent. Migrating your current accounting platform to a Cloud Accounting platform and adding Connected Apps can be a great ways to gain efficiency. We can help you determine if Cloud Accounting is the right choice for your business.
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Financial Wellbeing AssessmentWe perform a review of your financial statements and compute metrics and measures that provide insight into your company's financial health. Our service includes recommendations to how improve your company's financial health. We can also provide insight into the adequacy of your general ledger structure to support easy/cost effective tax return preparation and good financial reporting.
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Cash Flow OptimizationCash flow is a key indicator of company's financial health and a key factor used by banks when making lending decisions. We help our clients increase overall financial performance and profitability by improving cash flow. Using a multi faceted framework, we look for opportunities to accelerate cash receipts. We analyze your business from a financial, operational, procedural and technological standpoint identifying opportunities to increase cash receipts.
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Pricing
All services are customized and tailored for each clients unique needs. Pricing is calculated based on the scope and complexity of the services needed.
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