To successfully run and grow a business you need to know how to run your business efficiently. Statistics show five out of 10 new businesses fail within the first five years. According to the US Small Business Administration, the top 10 reasons were outlined in the following report. They include:
- Lack of experience
- Insufficient capital (or money)
- Poor location
- Poor inventory management
- Over-investment in fixed assets
- Poor credit arrangements
- Personal use of business funds
- Unexpected growth
- Low sales
Those are items that we are here to help with. Cruise & Associates is a trusted and respected Nebraska-based accounting and consulting firm that works with small to mid-sized businesses. Our goal is to make sure your business is working for you and not against you.
Here’s what we can do…
With the continuously changing world, our clients are not always fitting into a standardized box of services. So we have developed customized service agreements. These agreements allow a client to custom-build a package of services that they wish to purchase. This could be something as simple as having your bank reconciliation done for you on your computer on up to full outsourcing of your bookkeeping functions while keeping them in-house at the same time.
We will prepare customized monthly or quarterly financial statements for your specific business and industry. Most accountants try to group all businesses under one set of financial statements. This doesn’t work because all businesses are unique and not alike. We will also reconcile your bank account and help create a simple internal recordkeeping system.
Our bookkeeping services offer business owners the luxury of an in-house bookkeeper without the worries of having an employee call in sick or having to pay out benefits. We can take care of accounts payable and receivable, create invoices, and send out statements, write checks, track vendor’s invoices and credits, and reconcile vendor statements. This frees the owners time up from doing the tasks themselves or having to hire someone. Since the average business doesn’t need a full-time bookkeeper, we can give owners quality professional service without the difficulty of finding a qualified part-time bookkeeper.
Our Payroll Services can help you get it right the first time. A current report from the Government Accounting Office (Report GAO/T-GGD-91-65) shows that the Internal Revenue Service penalized 34 percent of all employers who used the payroll depository system for incorrect or late payments of taxes owed. With our service, the only thing an employer has to do is figure hours and then fax, e-mail or call that information to our office. We process the payroll and print checks on checks we provide. This leaves the owners with the task of just signing the checks. The payroll service also includes handling the annual worker’s compensation audit at no extra cost.
Our services aren’t limited to just Nebraska. We can take care of multi-state payrolls as well. In addition, our Tax Management System tracks all payroll taxes, pays payroll taxes on the appropriate days, and files all payroll tax reports with federal, state and local agencies. We also provide copies of this information to the client.
Growing businesses often reach a point where they need professional financial advice but can’t afford a full-time CFO or controller.
If you’re fortunate enough to be in this position, we have the perfect solution for you. Our Remote Controller service gives you a professional financial manager who works with you to help guide your business to success. The cost of hiring a full-time CFO can range from $50,000 to $100,000 plus. This service provides the experience you need at a fraction of that cost.
Our unique Rent-A-Controller Program can provide you with all the services of an in-house bookkeeper, a corporate controller and an outside accounting firm for less than the cost of a part-time bookkeeper. We can handle all your accounting needs and even provide training for you and your staff.
Maximize your borrowing dollars. Our team members have experience in dealing with all kinds of business loans. This could include conventional bank loans, SBA loans, USDA loans, etc. We can talk about your best options with you.
We have over 20 years of experience in dealing with and supporting various versions of QuickBooks. We can install QuickBooks and have the system up-and-running in a short period of time. Then, continue to support you by simply answering your questions or providing you with one of our full-service programs.
Our Associates have been working with small to mid-sized businesses for over 20 years. Let us help you develop a business plan that fits your unique situation. We are qualified to answer all your questions from starting up that new business to buying an existing one as well as expanding your current business. We will help with the organizational structure, entity selection, entity setup, business planning, budgeting, and feasibility analysis.
Our business consulting programs are tailored and designed for you and your business. We don’t look strictly at your business and tell you what needs to be done, we look at the entire industry! We want to help you manage your business more efficiently, more effectively, and more profitably.
Maximize your business cash flow. Managing a businesses cash flow is as much an art, as it is a science. Our Associates take a look at your business and design strategies to help maximize your cash flow.
Are you truly maximizing the profits of your business? Most likely not. We find that most small to midsized businesses operate with too much overhead and really don’t have a profit plan in place. With our strategic business analysis, we will look in every nook-and-cranny to find ways to increase your bottom line and create a profit plan.
Employee theft, intentional or unintentional, is the number one problem for small businesses. Having a good internal control system does not mean you don’t trust your employees it is just good business. Our Associates are trained in reviewing business systems, identifying possible holes that could lead to theft, and offering recommendations on how to fill those holes.
Don’t make costly mistakes when buying your biggest asset. Our Associates have been involved in dozens of business purchases and can best advise you off all the potential pit falls to watch out for.
Selling a Business
Maximize your sales price at the lowest possible tax rate. Our Associates have been involved in dozens of business sales and have the experience to make sure you avoid common mistakes. We want you to get the most value for your business. After all, you have worked your lifetime to create this asset… now it is time to maximize those rewards.
Is it time to start planning for your business to be taken over by a key employee or family member? The Associates at Cruise & Associates has helped many businesses make this transition. Start planning for this today! We will make sure your biggest asset does not disappear after you are gone.
Facing an unstable economy, many companies across the country are struggling financially. Whether you are looking at restructuring or filing for bankruptcy. Our Associates’ can help you through the complex process so you can confidently move forward. Using our experience and analysis of the situation we can help create a plan that will be in your best interest for your situation.
The information contained in this article is not intended to constitute legal, accounting, tax, investment, consulting or other professional advice or services. For specific information that applies to your circumstances, you should consult a qualified tax advisor. In accordance with IRS Circular 230 Disclosure and to ensure compliance with requirements imposed by the U.S. Internal Revenue Service, we inform you that any tax advice contained in this article was not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax-related penalties under the U.S. Internal Revenue Code or (2) promoting, marketing, or recommending to another party any tax-related matters addressed therein.