We Fix Broken Bookkeeping and Accounting Systems for Businesses and Show them how to10X their Profits
STOP doing your own Bookkeeping!
2/3’s of businesses fail within the first 5 years of starting because they are not focused on what matters in their business.
Day One Accounting is helping businesses succeed by keeping their accounting, bookkeeping, payroll and taxes aligned with their business process and teaching them how to maximize profits to 10X levels.
We Track your Business Finances with Professional BOOKKEEPING
Most business owners can easily tell me how much is in their bank account or even how much their product sells for. But they can seldom tell me how much the business is making overall without an income statement. Business is not just about how much you sell, it also takes into account how much you spend making your product, producing your service, and keeping the lights on. Without Bookkeeping you will never know. And that money you have in the bank today can change drastically tomorrow and the days ahead, depending on what money is or isn’t out in the street. Knowing where you truly stand, helps a business focus on what needs attention. And helps its business owner know, they either have a business or have a hobby.
From the very beginning Day One Accounting will track every dime that goes in and out of your business. We will keep an eye on your loans, interest, equity investment and draws, equipment, sales, expenses, payroll, and cash flow. When opportunities or tax authorities come knocking, Day One Accounting clients never have to get ready, they #StayReady. But that’s not all. We can track sales and expenses by location, by event (great for nonprofits or event planners) or segment of business (e.g., Residential or Commercial; High school or College; Group or One on One). We get down to the bottom of what works well in your business and what performs poorly.
Let us Clean up your Messy Bookkeeping
Small businesses don’t always start out with a financial plan. So, by the time they reach out to Day One Accounting, they are in some kind of trouble with a tax or governmental authority. In order for anyone such as a Tax Attorney or CPA to do anything, Bookkeeping needs to be done and done correctly. Day One Accounting will go back in time (from the start of business or just what is being scrutinized) and fix or create your financials. We will include the money invested in and taken out of your business. Then we will map out all revenue, all expenses, payroll and taxes. Clean books will provide your CPA, Tax Attorney, Tax Accountant, and Government Authorities confidence in the accuracy of your business’s financial position, and leave them better able to help with any problems or issues that developed.
We Train your Staff on QuickBooks Online
When businesses start out, they aren’t always ready to leverage expertise in every area of their enterprise. But learning a good bookkeeping program and customizing it to your business is a good onset plan. Don’t get us wrong. Bookkeeping is not easy. There is a process and workflow that keeps the story of your business accurate. But our training will make you or your partner just dangerous enough to be able to do it on your own until you can afford to hand it off to the experts. And unlike anything that you could find on YouTube or fabricated tutorials, our training program includes a free month of QuickBooks Online software for new QuickBooks Online clients.
You are given three 90 minute sessions customized to your business industry and a workflow plan for your monthly activity. It also includes learning how to close out the month, generate reports and interpret them to know how your business truly behaves and under what circumstances, an opportunity to go over trouble shooting, and best of all, we are always available for quick questions throughout the first six months, so you aren’t alone in your journey and you stick with the process.
We will help Get your Business on Payroll
Did you know, that if the business structure you chose for your company is a corporation, you as a business owner should be paid through payroll not equity draws? Now that is just one thing. But it highlights the point that you don’t know what you don’t know. When either paying yourself or the people you work with, having payroll done by a professional is a small price to pay to ensure it is done right and you are compliant. Businesses have been shut down for not doing this very important piece properly. Having employees is a major responsibility, and Day One Accounting wants you to sleep at night knowing your most important asset (your people) are taking care of. If you never had payroll before or are just ready to have it done for you, we will begin the process and take it off you hands. We will start by evaluating your business structure, coordinating with the proper state authorities, then giving you all the paperwork your employees need to fill out, sign up for all the tax authorities including any local, and take over the responsibility for ensuring they’re all done right. We will also provide your employees with a portal so they can print their paystubs and have access to their W2’s.
Let us help you Plan your Cash Flow
Impulse shopping is never a good idea, especially when cash is tight. We all may feel good in the short term, but it often leads to sleepless nights, when we’re trying to figure out how to pay for it all in our dreams. From small tools, to marketing services, to furniture for the office that you just have to have… “Beware of the temptation to give up what you want most, for what you want now”. In other words, keep your eye on the prize. But “What If” you knew what week worked best to make that purchase, or better yet could make adjustments to other plans so you could fit it in? That’s the kind of clarity Day One Accounting’s Cash Flow Planner gives you through our bookkeeping process. Since we will understand your cycle of business, we can map out what to expect in future revenue and expenses for 12 weeks. Using our Cash Flow Planner Tool, you will be able to insert influxes of irregular sales or spending in our “What If” scenario section. Based on that information you will discover the best week for making that purchase or be able to make adjustments to other plans to fit it all in. It’s that easy. And we are there to walk you through the course. Your planner will be updated monthly by Day One Accounting, but always maps out the next 12 weeks.
We will help Calculate your Profit by Project
Any business owner, general manager, department head or contractor wants to get to the bottom line of which products and services make money and which do not. Day One Accounting’s Profit by Project program reveals the facts in detail. How much are you spending on granite, lumber, flooring and labor per project? How much do you make on kitchen remodels, basement renovations or roofing? Are you charging enough or too little to see if your gross profit is worth doing projects like those going forward? On a daily and weekly basis, you now have a tool that measures where you stand in your spending versus what you contracted your revenue to be. Now you can monitor when you are getting close to your margins and either make adjustments or better decisions going forward. Let us help you keep an eye on the profit you expected to make at the beginning of the job. Once you have your focus in the right place, we promise, you won’t be so anxious to give out all those “on the house” freebies like “customer just changed their mind on… or upgrades to… when you now know what it costs you in profit.
And our clients tell us, the most appreciated benefit of this program is that going forward they know how to price their projects or programs to maximize their profit.
You will have answers to the most “Shark Tank-like” questions. Or just know bottom line costs such as how does weather play a role on your labor costs now that you have to stretch the project out? If material isn’t delivered on time, have you received enough from the client to move ahead and work on something else so you don’t create a cash flow problem? Are you using money from one project to start on another because of unforeseen delays? Now, with Day One Accounting’s Profit by Project program, these scenarios are out of your head and into a tool to consider the rundown before you issue out contracts and make promises. And all the while you will have Day One Accounting to answer your questions and help you with the process.
Let us help increase your profits by 40% in 90 days with Grant Cardone!
Grant Cardone is the CEO of Cardone Enterprises, Cardone Capital, international speaker, entrepreneur, and author of the 10X Rule & creator of 21 bestselling business programs. He built a $5.5 million company in 90 days all captured on Discovery’s “Undercover Billionaire” and owns and operates seven privately held companies and a $3.6 billion portfolio of multifamily properties. He is named the #1 marketer by Forbes Magazine and is the founder of the 10X Movement & the 10X Growth Conference, the world’s largest business entrepreneur conference.
We are so excited to be a part of this 10X Movement and deliver this life changing content to our clients in addition to our established Accounting Services.
Our intention is to offer support to businesses beyond tracking their numbers utilizing the licensee program. Day One Accounting and Financial Services will work with those businesses to help boost their profitability.
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