Questions the client needs to have answers for?
1. What are the metrics this business uses to track health?
Is there a budget we need to be matching to?
Do they need P&L by department or location?
Do we need to track Item profitability (not avail in their financial software)? Job profitability? P&L by Class?
Are there any special loan or equity accounts that need to be tracked?
Additional info/comments about business Metrics:
2. What are the questions the client needs to have answers for?
ie. if they can manage all their bills we don’t need A/P system. Do they need to do job costing, reimbursable expenses, commission tracking, inventory, program tracking, restricted grant tracking, etc?
3. Who else needs information about the company?
Presumably at least the gov’t and an accountant, but also potentially biz advisors/coaches, investors, board members, etc.
4. Who will review the numbers and analyze the results?
Does their CPA do this, board or other advisers?
5. Is their financial software set up to support getting these answers?
Are items set up to track expense as well as income?
Can the Chart of Accounts be tightened up?
Do we have good separation for our 1099 accounts?
Is the Vendor list or Customer list too long & can we use symbolic names like “Restaurant” or “Online Customer” for names we don’t need to track?
Does the client accept Paypal or credit cards?
Is their software set up to capture summary info or is there detail we need to track (esp with Sales Tax, if any?
Additional Information/comments regarding Software:
What systems are already in place that the client would like to keep (e.g. invoicing in another program)
7. What needs to be improved?
What does the client need to make admin less stressful?
Can we set up for auto pay, level billing, online banking, download/import to their software, better paper systems, better filing system?
8. Are there industry specific challenges to be aware of?
I.e. sales tax for interior designers
9.OWNERSHIP OF TASKS:
Who do we consider to be Customers?
Do we need to use Jobs?
Do we have a customer database/POS system or does client detail need to be tracked in software?
How does the company earn money?
Do we have the right income categories?
Are there online sales that we need to replicate in their software?
Do we need to track Items via Invoices or Sales Receipts, or are Deposits enough?
What payment methods does organization accept? Any desire to change/add?
How does money get to the bank? If credit card, do fees get taken out before or after money is deposited to bank? If before, can that be changed with the merchant?
If cash is taken, are there double checks to prevent theft of cash?
Who records the income, biz staff or bookkeeper?
Who does Moxie go to with questions regarding income?
Additional information/Comments on Money In Tasks:
Preps Deposits (& copies checks)
Goes to Bank
Prints and Checks Open Invoices/Collection reports
Makes Follow-Up or Collection Calls
Follows up with Merchant/Paypal issues?
Do we ever need to assign expenses to different or multiple fiscal periods? (accrued/prepaid)
Do we need to track Accounts Payable, or do we pay everything as it comes in?
Is there an outside system for cost analysis (ie excel or software add-on)?
What are Direct/Variable/Production Costs? (COGS accounts)
Do we need duplicate categories (e.g. shipping or payroll) that might also be in Admin?
Do we need Class codes to track programs, locations, etc
What are Indirect/Fixed/Overhead Costs? (expense accounts)
Do our categories match to a budget, if one exists?
Are we tracking in enough-but-not-too-much detail?
To whom does Moxie go with questions about expenses?
Approves & codes Bills
Cuts & Preps Checks for signing (or logs online bills to be paid)
Stuffs envelopes & Mails Checks (or online bill payments done by signer)
Files paid bills
track employee detail in their accounting software or only summarize? Or do they use a company like Trinet/Administaff that “does everything” so we only need to be tracking gross and payroll processing?
known issues/extras (e.g. 401k program?)
who is payroll processing company?
who do I go to with questions?
Are the accounts business accounts?
Does bank download to their financial software?
Can we set up Authorized User for bookkeeper or admin person?
How tight is cash-flow/how often should bank balance be checked?
Reconciles bank statements and resolves questions
Creates Reports in their software or against budget
Closes End of Month(s)
Gets info to accountant
WHAT LEVEL OF SERVICE IS NEEDED?RECOMMENDED?
Type of Service: