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mb@blatsoscfosolutions.com

FAQs

I always answer that question with more questions:

  • How much time do you spend daily, weekly, or monthly doing your own bookkeeping?
  • Is your time spent on bookkeeping keeping you away from your family?
  • Could you use the time spent on bookkeeping devoting more time to your business?
  • Do you think bookkeeping is the best use of your time?

These questions usually start a conversation about what is the best use of your time as a business owner and entrepreneur. Your job is to use your best skills on building your business. Not only will your time be better utilized, you will be saving money, because as we all know, time is money.  Let BCFOS take the bookkeeping away from you to give you more time to build your business.  Also, I can guarantee you we will do a better job and you ROI will be well worth it.  As an aside: I am an accountant by trade, but my taxes are done by a CPA.  I could do them, but I know a CPA is well worth my money and the time I gain.

Absolutely!  One of our favorite services is QuickBooks training.  We love the “aha moments” when our students/clients realize the value of what they have learned.   To be honest, if you have taught yourself how to use QuickBooks, you probably don’t know what you don’t know.  Having a one-to-one training session with us focused on your specific needs is valuable and necessary if you want to get the best out of QuickBooks.

Unfortunately, QuickBooks Online is not suitable to all industries, particularly the construction industry.  Some industries are best served using QuickBooks Premier Desktop because of the functionality of the software and the reporting capabilities. I have worked with two construction companies that converted to QBO and quickly converted back to QuickBooks desktop.  Before you decide to convert to another software version, call us and we can discuss what is best for your company’s needs.

QuickBooks Online is more secure than your desktop computer.  Intuit promises “full scale security” and monitoring of its servers 24/7 in its data centers that have a full-time security staff, video surveillance and alarms to prevent high-tech breaches.  Also, Intuit is a licensee of TRUSTe Privacy program and they follow guidelines to keep all information safe and secure. Personally, after losing desktop data on several occasions, I sleep well knowing my company financial data is on QuickBooks Online.

At Blatsos CFO Solutions, we firmly believe understanding the financial operations of your company is a key to success.  Often times, businesses determine their profitability based on their bank balances and never look at profit and loss statements or balance sheets.  An important function of our CFO services is to help our clients understand their financial position on a monthly or quarterly basis with comparisons to prior years and to industry standards. Additionally, we recommend that all our clients prepare an annual budget and measure actual performance to budget on a monthly or quarterly basis.

Yes, a line of credit may be a viable solution to supplement your cash flow when you are ramping up for a busy season.  We work with a variety of companies assisting with cash flow analysis and needs.  Additionally, Maryann Blatsos brings many years of banking experience and assists our clients when working with banks when requesting financing. When you approach a bank, it is imperative that you are prepared and as a part of our CFO Services we assist clients with bank financing.