Entrepreneurial Services Group (ESG) provides on-site professional accounting and financial consulting services. ESG can serve as the organization’s CFO or controller when a full-time, permanent employee is not required or in a temporary capacity. Additionally, ESG provides clerical accounting (bookkeeping) services on an on-going basis. ESG’s unique benefit to provide services on-site at the client’s location which provides a more effective and efficient way to support their financial and accounting needs.

Financial Planning

Financial reports and statements are critical for understanding the financial health of your business. They’re also important for setting goals, making business decisions and obtaining financing/capital.

Financial reporting serves two purposes. First, it helps management with decision-making concerning the company’s objectives and strategies. The information in the reports can help management better understand the company’s strengths and weaknesses. Second, financial reporting provides information to its stakeholders including its shareholders, potential investors, financial institutions and government regulators about the financial health and activities of the company. It’s a way of demonstrating to the company’s stakeholders that the company is being run appropriately.

Effective financial management is an ongoing process that features a cycle of good management habits.  The financial management cycle is completed when management use the results of the analysis from the reports produced during the year to inform their plans going forward.

A company’s financial planning should include budgets for operations and for capital.  Together these comprise the budget.  Creating an annual operating budget should be a familiar task for a company.  However, creating a capital budget, is often overlooked or deemed unnecessary for small or midsize companies. An operating budget should demonstrate the organization’s commitment to fulfilling its mission.  It is based on reliable income and expense projections as determined by all departments within the company.

ESG can help your company through the following activities:

  • Preparation and/or review of financial reports (balance sheet, income statement)
  • Preparation and/or support of annual budgets and interim forecasts
  • Review of inventory controls
  • Gross profit analysis on individual product lines and/or services

Financial Relationship Management

Developing and maintaining relationships with the providers of financial services of the company is an essential function that is often overlooked. Proper understanding of the financial information and objectives of the company is vital to financial institutions in providing financing to maintain the company’s operations. By having a clear and open communication strategy the company can reduce time and expenses associated with fees charged by financial institutions and continue to ensure that capital is available when necessary of the company’s growth opportunities.

These relationships are also necessary with other service providers, such as tax accountants, auditors, attorneys and insurance brokers. Again, time and expenses can be saved when the company has clear and open communications when providing financial information. When management understands the financial information requested and can respond appropriately and timely, confidence is instilled with those providers that eliminates unnecessary efforts.

ESG can help your company through the following activities:

  • Supported communication and interpretation with bankers, attorney, insurance providers
  • Preparation of bank reports for financing requirements including borrowing base
  • Preparation of audit and tax work papers requested from auditors and tax preparers
  • Preparation of financial reporting/audit requirements from insurance brokers

Process Improvement

Efficient and effective performance from all employees is essential to the company operating at its peak. It is difficult to determine a company’s effectiveness without measuring it to the company goals.

ESG can help your company through the following activities:

  • Calculation of key performance indicators (KPIs)
  • Preparation of trend analysis reporting
  • Assistance with creating and maintaining accounting policies and procedures
  • Assistance with monitoring and creating internal controls
  • Assistance with identification of cost controllers and/or reductions

Cash Management

Cash is the lifeblood of a company and a company needs to generate enough cash from its activities to meet expenses and have enough remaining to repay investors and grow the business. The saying that “Cash is King” is one of the most important in operating a company.

Generating enough cash allows a company to meet its everyday needs and avoid taking on debt (or additional debt). In a situation in which a company must take on debt to meet its expenses, it is likely that the company’s debtors will want a say the company’s operations.

Without generating sufficient cash to meet its needs, a company will find it difficult to conduct routine activities such as paying suppliers, buying raw materials, and paying its employees, let alone making investments.

ESG can help your company through the following activities:

  • Cash flow analysis of monthly receipts and expenses
  • Cash flow forecast to determine cash needs by understanding future cash uses and sources

Strategic Planning

Strategic planning is a management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals. It is a disciplined effort that produces decisions and actions that guide a company, who it serves, what it does and why it does it. Effective strategic planning articulates not only where a company is going, and the actions needed to make progress, but also how it will know if it is successful.

ESG can help your company through the following activities:

  • Supporting the preparation and development of a strategic plan
  • Preparation of business and financial plans
  • Supporting merger and acquisition due diligence
  • Evaluation of equity transactions and owner exit strategies

Bookkeeping & Clerical Accounting

These services are focused on the recording, storing and retrieving of the company’s financial transactions. These transactions include purchases, sales, receipts, and disbursements. Understanding and maintaining these financial transactions creates the foundation of the company’s accounting records. Without accurate recordkeeping all other financial and accounting functions are compromised.

ESG can help your company through the following activities:

  • Entering, Coding and Paying Bills
  • Creating and Sending Customer Invoices
  • Reconciling Bank and Credit Card Accounts
  • Maintaining Vendors for Accounts Payable and Clients for Accounts Receivable
  • Coordination of payroll functions with third party providers
  • Supporting CFO/Controller and Outside CFO

Get In Touch

If you have any questions as you’re looking through our services, or want to know how we can help in your situation, contact us using the form below.