5 Signs Your Business’ Financial Structure Needs A Reboot
Even when you have cash in the bank, pay all your bills and your assets are still intact, your business might STILL be in trouble. There are ways to identify financial issues and fix them as soon as you can before they become BIG trouble!
#1 No Change for a Long Time
You have been using the same financial set-up for years. You tell yourself it has been working for you. If it isn’t broke, why fix it? Because it’s going to get broken sooner than you think. Change is important in business. Either in the product that you’re selling or how you sell it. Think of Kodak cameras, the typewriter, and the calculator. When they were on the top of their game, who would have thought that these products would become obsolete? Innovation is a key to business growth and success. Our client’s success is built off of MKS&H’s foundation of innovative thinking. We apply innovation based on the business climate and customer needs. If you hire our services, we won’t let your business be complacent or become extinct.
#2 Bills Are Paid, But They Get Paid Later Rather Than Sooner
Sure you can pay your bills, but do you find yourself always paying on the last day or passed the due date? This means that your current financial structure is not doing you any favors. Nor does it reflect your business standing properly. With MKS&H, this shouldn’t be a problem at all. We are able to assist with accounts receivable billings and collection, examine cash flow, operating expenses and budget, conduct analysis and allocation of company’s profit center, review internal controls to protect cash, analyze trends to determine their impact on business, and evaluate key performance indicators to assist in managing operational issues.
#3 Your Office is Drowning in Paper
You are looking for an important file. You open a cabinet and it gets jammed. There are just too many envelopes and paper there. You can’t even tell everything that’s there. Tidying it up is not just the solution. Nor is buying a bigger cabinet. Maybe you need to replace a financial structure that is caught in paper traffic gridlock. Or maybe you need to hire a competent accounting firm like MKS&H to do it. MKS&H makes responsiveness and on-time delivery the least of your concerns because for one, we organize your system in such a way that information and data are so ready and easy to access.
#4 Your Taxes Surprise You
You expect to pay the IRS a certain figure and you get surprised that you are supposed to pay them more. This indicates bad tax accounting and a flawed financial structure. With MKS&H, you are made to understand your finances and pay your taxes correctly. Our team can also be trusted to answer inquiries from the IRS and even represent you for them.
#5 No Future Plans
Everything’s good. So, why bother? When the future becomes the present in your business, you might see yourself in shambles. You must have a vision of your company in the future. That vision should be accompanied by immediate planning. That’s where MKS&H also excels. We look after advantageous structures for holding assets, after-tax impact of proposed transactions, corporate acquisitions and reorganizations, plans to maximize key employee income and succession planning for a future time frame.
If you would like additional information about our financial services and how we can help your company, contact the MKS&H consultants today!