Frequently Asked Questions:

Small businesses need the expertise of a business manager but not on a full time basis. As a periodic business manager, I will work and be available to your organization as little or as much as you need: whether it's a regular few hours a month or a one-time special project.

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A controller is the head of the accounting department of a business. The accounting staff is responsible for the day-to-day accounting tasks for the business. The controller supervises the staff, controls the finance of the firm, and is the liaison with upper management.

A business manager does all the functions of the controller and, because the firm is smaller, he/she is involved in all other financial aspects of the business from negotiating contracts to human resources activities and of course, taking care of the accounting, thereby doing many tasks that are performed by the owner.

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Small business owners wear many hats. A business manager takes over all the accounting, finance, payroll, human resources, and high-level admin tasks that you, the business owner, are currently doing on behalf of your business to leave you free to concentrate on what you do best: your business.

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It will free up your time currently used in bookkeeping and admin tasks while giving you comfort that the work is done by a professional accountant. You retain control while gaining the flexibility of utilizing a professional only when needed.

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Probably, however, many CPA firms concentrate in taxes and long term financial planning. They often do not specialize in providing the expertise that a periodic business manager will bring to your organization. If they do, their fees are often outside the financial capabilities of a small business.

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I work for you and have no overhead. I don't do taxes or audits however I help get your accounting records ready for tax preparation or audits.

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I have many years of experience in "cleaning up" accounting problems. I'll reconcile your bank accounts (several years back if necessary), fix the general ledger, and do any other work needed to clean up your accounting. Although there is a cost associated with the clean-up, there are many hidden costs of not cleaning up your records.

Here are a few examples of those hidden costs: penalties and interest on late payment of taxes, missed deductions leading to a higher tax liability, late filing of tax returns leading to a higher chance of audit, decrease of apparent value of the business should it be sold, etc...

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The first decision is to identify which QuickBooks product you need. You can read their web site (www.quickbooks.com) or you can ask me and get an immdiate answer so that you can make the right decsion. Buying the correct software can save you a lot of time and hassle later!

I'll transfer your Quicken data, properly set up the accounts and reports, and train your staff (or yourself) on how to correctly use the software.

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QuickBooks is a wonderful software for small business. However, as any other software, it works better when used as intended. As soon as I have reviewed how you are currently using it, I'll be able to make recommendations about ways you can improve the data entry, the reporting and use of tools such as inventory and fixed assets.

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I will do the time-consuming but critical research and provide you with the various choices available while advising you on the best options. I will help you with the set-up and refer you to appropriate resources.

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Self-employed business owners with no employees can have a 401(k) in which they can defer their income tax-free just like in a regular 401(k). I will help you with the set-up and refer you to appropriate resources.

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In order to grow a business such as adding employees, opening a new location, or changing product mix, you need sophisticated financial analysis, in other words: somebody should "do the math." I will provide you with detailed financial analysis that you can use because it's tailored to your business, it uses your historical financial numbers and answers the questions you are asking. My worksheets are clear and concise and are built to be easily read.

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Budgets are very important because they help you benchmark how you are doing as well as help you make financial decisions that are beneficial to your business. Many business owners operate "by the seat of their pants" which may be a reason why so many businesses fail. Having a professional like myself prepare a budget will pay for itself by providing you multiple benefits.

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Through audit procedures and financial analysis, I can review your accounts and attempt to identify the theft. I can also help you set up safeguards so that future problems are eliminated or at least minimized.

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I most often work at the client's office because that's where all your records are. No critical information leaves that office so that the integrity of the data is safeguarded. For certain financial analysis and with your permission, I may be able to work from my home.

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I work one-on-one with yourself or your employees. A session lasts from one to three hours and is at the speed of the user. The training is completely geared to your needs and we discuss only the topics that are of interest to you, using your data file so that the information is pertinent to your organization.

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Feel free to email or better yet, to call me. As long as I am not working with a client, I'll answer the phone.

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Viviane I. Thompson, CPA

O: (520) 749-3546
C: (520) 481-8015