Business Owners

Free Accounting Review

  • Free Accounting Review

    Speak with an Accounting Expert today...

    ... about saving time and getting more accurate reports.

Scalable Accounting and Finance Services

As a small business owner, you do not have the budget for an optimal Accounting and Finance Department.  You need a partner who can provide cost-effective and high-quality solution in the area(s) where you have specific gaps in expertise.

CoEfficient Services offers a complete spectrum of Accounting and Finance staff to meet your specific needs.  And best of all, you can hire us on a flexible and scalable basis. This means we are a variable cost you control depending on your needs and budget allocation.

Assessing Your Needs

CoEfficient assesses potential clients’ needs based on existing staff, order processes, AR, inventory, purchasing and cash disbursement:

  • Expenses – You typically need a separation between creating a new vendor, inputting invoices and approving invoices
  • Cash Receipts – You want separation between receiving cash, recording cash and reconciling the bank statement
  • Inventory – you want to be careful that inventory transactions are not created by purchasing and the person that can set up new vendors and you want receiving to be separated from all
  • Budgets – A great control is budget to actual comparisons and explanations – predict result and explain variances between your expectation and “reality"
  • Controls – Thoughts and recommendations around how controls should work between accounting, purchasing, inventory and receiving.

Worried About Fraud?

According to the ACFE’s 2012 Report to the Nations Fraud is Occurring at High Rates:*

Organization Size Fraud Incident Frequency Median Loss
< 100 employees** 31.8%  $147,000
100-999 employees 19.5%
1,000-9,999 employees 28.1%
10,000+ employees 20.6%

Hire In-House vs. Outsource?

To complete all of the accounting and finance tasks required to run your business, you would need to build a minimum team that ensures proper controls are in place.  But you do not have the budget or experience to create that team.  You may have a bookkeeper who works part-time, or an office admin who can enter transactions but does not understand accounting.  Yes, you can build this team, but can you really afford that?

We leverage your existing resources and fill in the gaps where they exist.

Accurate and Timely Books You Can Trust

Are you tired of waiting 2-3 weeks for your books to close?  By the time you can finally review and analyze last month’s or last quarter’s performance, the information is too outdated to be actionable.

CoEfficient Services helps you close your books quickly and reliably.  Your books will be accurate so you can confidently make the decisions you need to effectively run your company.

Timeliness and accuracy should be table stakes, but this is not always guaranteed when you are relying on part-time staff or resources that may not have proper Accounting expertise.

Information in a Usable Format

How many times have you looked at an Income Statement and not truly understood what it is telling you?  Sure, you can read the total profit and total expenses.  But do you really know how to analyze this information, translate its meaning and then take action that makes your business more profitable and efficient?

We can help you properly set up your Chart of Accounts and organize your P&L so that you have better insight into your inefficiencies and can take action to improve profit margins.

We have a secure portal that allows you to view your financial data in a simple format.  Data by itself doesn’t help you make good decisions.  Data analyzed properly helps you make really great business decisions.

Learn more about our Services…

 


*According to the ACFE’s 2012 Report to the Nations, estimated median losses for small organizations — those with fewer than 100 employees — that experienced a fraud were $147,000. The report indicated that small organizations are the most common victims in fraud instances at 31.8 percent — the highest rate of any business size category. (For example, organizations with 100 to 999 employees had a fraud incident frequency of 19.5 percent; 1,000 to 9,999, 28.1 percent; and 10,000 plus, 20.6 percent.)

**The five most common fraud schemes for organizations with fewer than 100 employees in the ACFE report were: billing fraud, corruption, check tampering, skimming and expense reimbursement fraud. Corruption schemes deal with crimes such as bribery, illegal gratuities and kickback arrangements. The largest number of perpetrators in the entire study, 41.5 percent, had been with the organization between one and five years, most of them had a college degree and worked in the accounting area.

Back to Top