Let’s face it – if you’re a small business owner, you don’t have 30 or 36 hours in the day and extra time to sit around working on your financial ledger.
Businesses that aren’t focused on core development of products and services often fail. If the general statistic is that only a quarter of small businesses make it after five years, you would assume that many of those failed businesses were ones that spread themselves too thin – in which ambitious leaders tried to do too much too soon, and paid the price.
Lean inventory and lean overhead are laudable ideas, but you also need the right support. Jack Trent helps small businesses to grow and expand safely, with good accounting practices that are efficiently outsourced to specialists. The accounting safety that we provide helps your business to avoid many of the biggest pitfalls in growth and scaling operations.
In some ways, your bank reconciliation is your early warning system. It helps businesses to spot things like embezzlement and fraud early, to get a grip on responses and make sure that the business is operating with financial integrity. That’s one big danger that we steer businesses clear of. One way to say it is that “there’s no trust in accounting.” You look at the clear numbers, rather than just being assured that “everything’s A-ok.” If you want to run a business, this kind of verification is a necessity. It’s that simple.
Profit and loss is essential for tax reporting, but it serves other roles as well. This aspect of accounting provides transparency and openness for business, and helps business owners to make the right decisions about allocation and growth. Without it, you’re hurling darts in the dark.
General Ledger and Consulting
One of the little-known tricks of the trade is establishing financial timelines – pursuing ledger accounting according to the kind of digestible reports and practices that will give the business owners actionable intelligence.
In addition to that help, we help with various types of valuable consulting where we sit down with customers and talk about their goals and how to meet them. Accounting is about numbers, but it’s also about solutions – the how and the why are important, too.
Get more information from the website about how to rely on Jack Trent and Company for your small business accounting needs. We are here to help you to navigate market and enterprise complexities, stay compliant with all relevant standards, and win at business.