By Donna Hugly, CPA

Helping small businesses grow while making sound operations and financial decisions is a lot more productive if the assistance comes from another successful small business.  As just such an enterprise ourselves, Sanford, Baumeister & Frazier is in an ideal position to assist with tightening up best practices, assessing good direction for tax planning and compliance, and finding solutions to the everyday or once-in-a-career, sticky problems that arise.

Because of our experience, we are able to offer various services to make this process efficient and cost effective, whether it is consolidating out-of-date reporting systems or integrating new ways to manage finances.

We have been able to help various clients over the years with some of the following:

• Analyzing their entire paper flow and accounting process.  We sit down with the business owner, accounting personnel, and other pertinent employees to determine what happens from the time that the first piece of paper comes in the door until the end product goes out the door.  We then help determine ways to make that process more efficient.  We can also help evaluate the process of moving inventory around so that the product is produced and shipped much more efficiently.

• Reviewing and evaluating their overall accounting system.  We then can make recommendations about the best type of software to use and provide training on that software. We can also help set up standardized reports so that the business owner is receiving regular management reports to help better run their business.

• Examining internal controls for service businesses. Most small businesses do not have the luxury of having numerous employees to allow a true segregation of duties. You therefore want to build in as many controls as economically and feasibly possible to prevent misappropriation of funds.  We can make recommendations to beef up your current controls. We are also available to implement them.

To break it down, our Small Business Solution Services begin with a review of the current situation.  Then, we quickly draft options for solutions—also anticipating future needs as the company grows.  Whether making simple recommendations like digital filing protocols, coding ideas, introductions to expert systems or tutorials to reference again as needed,  our team helps yours get up and running quickly. Then, we are on board as a help desk to address further issues before they become problems.

From there, we can get more involved.  Any area of small business finance can benefit:  job training to journal entries, bookkeeping to best practices, and software systems to tax solutions. We can provide data entry and back office bookkeeping.  Importantly, the flexibility to either be on site or to work remotely is always an option.

On Site:

• In-House Bookkeeping
• Accounting System Implementation
• Accounting System Review
• CFO Outsourcing

Remotely:

• Financial & Payroll Reporting
• Compilations for management and 3rd party use
• After-the-fact payroll reports, 1099s and W-2s at year end
• Texas and other state sales tax reports
• On-Line Bookkeeping Services

For small businesses of any size or industry profile, we know what it’s like.  We’ve experienced your issues.  We’ve solved similar problems.  By being your same-experience partner, we let you focus on your business’ strategic matters and critical operations.  We handle the rest.

Donna Hugly, CPA, is a partner at Sanford, Baumeister & Frazier, LLP.
Her entrepreneurial background and dedication to both her clients
and the profession have allowed her to work with a wide range of clients
and given her special insight into the challenges of business ownership.
Donna provides consulting, tax, accounting, and auditing services,
with a focus on helping her clients better run their businesses.

A member of the Texas Society of CPAs’ Board of Directors,
she also served four terms on the organization’s Executive Board.
Donna is a past chairman of the Dallas Chapter of the Texas Society of CPAs.
She served a three-year term on the Governing Council of the American Institute
of CPAs and is a member of the Behavioral Enforcement Committee
of the Texas State Board of Public Accountancy.