Our Process
Simplified, Responsive, Tailored
Simplified, Responsive, Tailored
Some Firms try and create an “illusion of value” by making things unnecessarily complex.
We don’t.
We don’t.
How We Work:
Every business owner wants accurate financial data, to improve their cash flow and profitability and eliminate tax surprises and to make critical business decisions with confidence.
Our process is designed to move you from simply keeping your books to unlock the power of your financial data as a competitive and strategic asset.
Is EAS the Right Fit?
We’re a good fit, if you…
- Value accurate reporting
- Want proactive advice
- Are growing
- Are looking for someone you can trust
- Value strategic planning
Our 4-Step Process:
————————————————————-Process Flow———————————————————–>
01 – Assessment | We need to understand your business and goals
01 - (read more)
As a first step, we assess your business for compliance (with laws, rules, regulations) and performance (key performance indicators and metrics). As a new Client, we detail this in our proposal(s) after we gain an understanding of the specifics of your operation. For an existing Client, this is an ongoing step to monitor your business for compliance and that internal goals and targets are still relevant with regard to your business’s overall mission and strategy.
02 – Establish Compliance | We’ll build an accurate financial foundation
02 - (read more)
There are two key aspects to compliance for businesses – 1. Fairly stated books, financials and records, and 2. Conformity to laws, regulations and rules imposed by taxing authorities. For 1, Accuracy with adjusting entries, account reconciliations and proper transaction classifications are necessary to ensure solid records and financials. Filing returns on time, and addressing issues or deficiencies (such as tax debt) within deadlines, are just two examples of compliance.
03 – Improve Performance | Focus on your cash flow and profitability
03 - (read more)
Every business interested in long-term growth enacts aggressive plans to achieve goals and targets – financial and non-financial. Actual results need to be compared against goals and targets. Compliance is required, but compliance does not address growth. Business metrics should continually be assessed for effectiveness. With growth, compliance becomes more expensive, so tax planning becomes essential. Most importantly, decisions must be made based on accurate, reliable data.
04 – Support Long-term Growth | As your business evolves | Process repeats
04 - (read more)
Growth means change. Changes can come from organic growth or through acquisitions, for example. As the business grows, it’s structure evolves and will likely require changes to address new or different compliance requirements as well as new or revised goals and targets. We view this process as a continuous loop. As changes are implemented they are re-assessed, complied with, and performance is analyzed. Supporting growth feeds back to the 01 – Assessment phase and continues.
How does your Process fit with your Suggested Plans (below)?
Our Suggested Plans (below) are divided into Clean-up/Compliance – Plan 1 and Monthly Maintenance – Plan 2.
Establishing Compliance in our Process – Our 02 phase, includes Plan 1 and Plan 2.
What Happens Next:
Initial Consultation –
We keep it simple. We usually work backwards by asking about your expectations and goals. This will often determine the scope and type of engagement so that we can determine if this is the best fit between your company and our firm.
Business Assessment –
We’ll use our initial consult and compare that with our findings gained from access to your records and data. We want to determine the current state of your business and operation and compare that with your expectations and goals to build a roadmap for your success.
Proposal Scope and Engagement Letter –
Based on our assessment, we will detail a comprehensive proposal/letter – written in plain English so that you understand how we intend to go from the current state of your operation to your preferred state.
Onboarding –
Depends on the type, complexity and agreed-upon terms of the engagement. We don’t create a lot of fanfare at this stage; we want to dive in and start working. Most importantly, we inform you of our progress during the engagement and any additional information we may require.
Monthly or Project Work –
Well understood and ongoing monthly (closing) work will require recurring access to your data and records – creditor statements, or vendor statements, etc. Project work usually has a defined “end,” which is when the project scope has been achieved and the work-product completed.
3 Suggested Service Plans:
Service / Scope | Clean-up / Compliance - Plan 1 | Maintain Monthly - Plan 2 | Insight, Strategic - Plan 3 |
|---|---|---|---|
| Budgets, Forecasts, Operating Plans | Not included | Not included | Yes - Rolling plans updated Monthly |
| Custom Reports - Key Performance Indicators (KPI's) | Not included | Optional - Depending on request | Monthly - Included |
| Depreciation of Fixed Assets / Book Value of Assets | Initial adjustment - Annually thereafter | Monthly adjustments | Monthly adjustments |
| Document Digitization and Archival | USB drive, 5 years of data files upon disengagement - $150 fee | Same as Clean-up - USB drive, $50 fee and Cloud storage on Client's account | Same as Maintain - No fee for USB drive |
| Intercompany Loan Transactions | Initial adjustment for balance and interest - Annually thereafter | Semi-annually | Monthly |
| Inventory Valuation / Cost of Goods Sold | Initial adjustment - Annually thereafter | Semi-annually | Quarterly |
| Onsite / Virtual Meetings | Not included - Option | Semi-annual reviews | Quarterly reviews |
| QuickBooks Online Subscription and Third Party Apps | Paid directly by client/user | Billed to client/user by EAS | Billed to client/user by EAS |
| Reconcile Bank Accounts, Credit Cards, Loans | Included | Included | Included |
| Review of Accounts Receivables / Payables | Not included | Monthly summary reports | Monthly summary reports |
| Sales Tax Filings | Not included - Separate engagement | Not included - Separate engagement | Not included - Separate engagement |
| Setup / Modify Chart of Accounts | Included | Included | Included |
| Tax Planning | Depending on scope of clean-up work | Separate engagement - With discount, TBD | Separate engagement - With discount, TBD |
| Tax Preparation | Separate engagement | Separate engagement - With discount, TBD | Separate engagement - With discount, TBD |
Additional Services tailored to your Business:
Additional Services / Terms | Clean-up / Compliance - Plan 1 | Maintain Monthly - Plan 2 | Insight / Strategic - Plan 3 |
|---|---|---|---|
| Accounting / Tax Representation to Third Parties | Depending on nature of request | Depending on nature of request | Depending on nature of request |
| Cancellation Policy | In general - 30 days notice to cancel | In general - 30 days notice to cancel - Sooner if warranted | In general - 30 days notice to cancel - Sooner if warranted |
| IRS or State Audit Support / Representation | Depending on scope of clean-up work | Option - Separate engagement | Option - Separate engagement |
| Payment Terms | 50% down - Invoice on completion | 50%, invoice on completion - Option for discount | 50%, invoice on completion - Option for discount |
| Payroll Provider Services | Not a provider - Reconcile costs and liabilities to financial statements | Not a provider - Reconcile costs and liabilities to financial statements | Not a provider - Reconcile costs and liabilities to financial statements |
| Response Time - To Email, Phone or Text | Within two business days - Could be sooner | Within two business days - Could be sooner | Within one business day |
| Special Projects / Out of Scope Requests | Separate engagement - Depending on request and scope of clean-up | Separate engagement | Separate engagement |
Our Engagement Principles:
✓ Clear scope
✓ Fixed pricing, whenever possible
✓ Secure document sharing
✓ Responsive communication
✓ No long-term contracts
✓ Customized proposals
Frequently Asked Questions and Answers:
Engagement Letters & Proposals
Engagement Agreement & Proposals
Options (listed above) are suggested services only. The nature of each actual engagement will vary. The engagement agreement will control and detail the scope of work to be completed and specify all terms.
An engagement letter with signature(s) is required to confirm our agreement and mutual understanding.
Access to Data and Records
For letters and proposals – Most Accounting, Bookkeeping and Tax-related engagements will require data and records (Bank Statements, prior Tax returns, for example) as appropriate for the type of task or project being quoted.
We’ll also ask for access to your Accounting records (using QuickBooks Online) to confirm our understanding of the work required.
Additionally, during phone discussions, we use a questionnaire to ensure that we capture all relevant information.
Sensitive Documents & Records
Sensitive documents, files and records will be shared using our Secure Encyro Portal.
Extensive or Complex Projects
For more extensive, indeterminate or complex (project) work, a quote and work-plan will be submitted based on the scope of the engagement with an agreed-upon billing/payment schedule.
On-Boarding
On-Boarding New Clients
Our on-boarding process will vary based on the type and complexity of the engagement.
Remote Engagements
Remote engagements and progress discussions will be conducted via, Zoom or in-person.
Fees and Terms
Fees / Prices
Fees are based on the complexity of the engagement, and are determined as part of the proposal, so fees are not listed above.
Fees will be detailed in the engagement letter and will be agreed-to prior to the start of the engagement.
We will quote a flat fee for tasks or projects with a defined completion – you’ll know the cost upfront.
Ongoing consulting or advisory engagements without well-defined (task) completion dates will be quoted as a separate proposal.
Payment Terms
We generally require 50% payment at the start of the engagement with the balance due upon delivery of the work-product or completion of the task(s), quoted.
For monthly, recurring engagements, we normally require automatic (ACH) payments due on the 1st of each month.
Before you Leave – Get a free 45-minute Business Performance Assessment
We’ll discuss –
✓ Profitability concerns
✓ Tax issues
✓ Cash flow challenges
✓ Growth obstacles
✓ Operational inefficiencies
✓ And, answer your questions
No pressure / No obligation / Just actionable and practical advice
Schedule my free review:
