Brewington Accounting & Business Solutions

Managing accounts receivable and monitoring collections is an integral part of maintaining your business.  Timely cash collections & identifying potential customer issues is key.  Knowing your customers' payment patterns will be an indicator of credit worthiness and assist you in better determining to demand cash payment up front or extend customer credit terms.  Untimely collection of customer payments (1) jeopardizes your ability to pay your vendors or staff; (2) can cause you to incur large amounts of debts to satisfy current expenses; (3) and ultimately cause your business to close it doors.  You control the destiny of your business; therefore I can provide you the tools that can put you in a position to be proactive, not reactive.  Examples of what can be provided to assist you in monitoring your customers' activity: 

• Customer invoicing
• Posting Cash receipts in a timely manner
• Provide accounts receivable aging - used to monitor potential collection issues 
• Make collections calls on your behalf
• Reconciliation

Managing accounts payable is crucial to maintain your business's credit worthiness & leads to your ability to be able to track where your money is being spent.  Maintain positive vendor relationships by paying your vendors on-time.  Also by keeping tracking of vendor bills in a timely manner you can determine where your money is going from one period to the next.  This is crucial in identifying opportunities to cut your spending.  Examples of what can be provided to ensure that your vendors are being processed and paid timely consist of the following:  

• Vendor processing of bills
• Maintain vendor master files
• Request W-9 forms
• Provide accounts payable aging - used to monitor timely payment of vendor bills.
• Bank Reconciliations
• AP Reconciliation

Understanding your financial statements on a monthly basis will put you in the driver seat.  Financial statements will provide you with the ability to determine if you're losing or making money, and by product or service line.  Review expenses for cost-savings opportunities.  Balance sheet will allow you to determine you business solvency. - (Does your debts out way your assets?) - The time to know is now!!!  It's time to be proactive, not reactive to changes in your business/ industry.  Stay ahead of your competition by knowing your financial strengths and weaknesses.

• Financial Statements compilation - Balance Sheet & Income Statements
• Financial Statement Analytics & Trend Reports 
• Sales Report Activity - by product or service line
• Operating Expense Reports

There are many factors that can contribute to your business being ahead of the competition.  Be prepared and know exactly where your business is at today and plan where it will be tomorrow.  The tools below will help guide your business to success.

• Cash Flow Management
• Budget preparation
• Business start-up
• General ledger set-up
• Accounting Education Seminars - tailored to your specific needs.
• Evaluate internal control & implement recommendations
• Year End Physical Inventory