Most small- and medium-sized businesses don’t always have the budget requirements to employ a full-time CFO or Controller. At DBCS, we serve as strong arm of support in this function and our team works with you to bring a fresh perspective to managing the financial aspects of your organization, while ensuring your accounting department operates like a finely tuned machine. This outsourced partnership allows for the business owner to maintain control of operations, while we make sure strong financial practices are developed, implemented, and maintained.

As two considerably important elements of a strong business foundation, budgeting and forecasting set targets for income and expenditures and allow for a business to hold itself accountable to those targets as the year progresses. Smaller businesses normally revise the budgets quarterly, while the larger ones may keep their budgets fixed. However, for any business, it is an extremely valuable tool to place sales targets and limits on spending as a means of keeping true to necessary spending and identifying areas of operations where cash can be allocated to grow the business.

There are many things to think about prior to starting a business, while its in operation, and even after its closes its doors. Sometimes, too many things. Source working capital, or maintain operations by growing cash organically? What happens when a key person is incapacitated? Most cost effective software for operations? Are my cost centers effectively adding value from the back-end? Are my workers efficient? The list can go on and on. At DBCS, we love to partner with our clients to identify and find solutions to key questions that greatly impact the finance piece of their business.

It is generally understood that when you are running a business, the monitoring of cash activity and classifying of daily transactions is not at the top of the priority list. But, this is not a task that should be so easily ignored. Active bookkeeping ensures proper financial reporting, and, in turn, keeps the business on its feet and ready to tackle important financial decisions. From creating a clear and concise Chart of Accounts, to timely financial statement reporting, we believe a good accounting process can bring about a thorough understand of daily business operations and needs.

As a subset of the overall bookkeeping function, many businesses struggle when it comes to identifying and implementing strong cash management processes. At DBCS, we believe wisely managing cash enables a company to meet unexpected expenses, and to handle regularly occurring events such as payroll. Cash management involves not only avoiding insolvency, but also reducing average account receivables outstanding, increasing collection rates, implementing efficient accounts payable processes, and increasing cash on hand to improve overall cash position and profitability.