Industries
Accounting for consultants and service businesses
See which work is profitable, plan owner pay and keep tax reporting connected to the books.
Know your margins
Track revenue and direct costs by service or project. Review retainers, customer balances, contractor payments and overhead so growth does not conceal weak margins.
Coordinate salary and distributions
For an S-Corp owner who provides services, document reasonable compensation. Profit distributions do not replace the payroll required for the work performed.
Review growth across state lines
Employees, offices, contractors and customers in other states can affect registration and tax obligations. Review the actual activity before expanding.
Keep the close useful
Compare results with your plan, update the cash forecast and identify one or two decisions for the next month. Bring recent financials and your prior return to the initial discussion.