These are our individual services for your business.

Every company—no matter its size—is complex. You need a wealth of tools and a variety of options. Over the years, Mindful has encountered countless types of business problems. The learning, solving, the expanding of our knowledge regarding these issues guided all that you see here. With Mindful, your business gains clarity.

Accounting Support

• Service/Product Line/Location Accounting: Revenue and expenses are assigned to specific service/product lines or locations. This determines the profitability of each and compares their contribution to overall profitability.
• Contract/Job Accounting: Revenue and direct expenses are charged to specific clients or jobs so we can learn where true profitability lies.
• Accounting Methods: We review methods of accounting for industry specific transactions, unusual transactions and transactions needed for accrual accounting. This lays the groundwork for accurate reporting. For example, a bulk labor contract should be recorded as liability until the service is actually provided. Vacation time earned and vested should be reported as a liability, too.
• Inventory Management: A stronger bottom line can come from determining ideal inventory levels. We help analyze sales, profitability, purchase turn-around time and, of course, your goals. We look into new-product ordering systems, too.
• Billing System Creation & Management: We find ways to automate and streamline your customer billing procedures so you can bill your customers more quickly, on time and with greater accuracy. All while reducing the incidents of transactions going unbilled.
• System Integration: Correctly synchronizing separate software programs simplifies your accounting system. Financial data now posts easier and in the most proper manner. Data also needs to flow correctly between disparate systems to create meaningful management reports.
• Internal Controls: Together, we’ll establish systems to protect your assets and the integrity of your data.

Cash Flow Management

• Weekly Cash Flow Projection: Projecting cash inflows and outflows for the coming week verifies that cash will be there for meeting necessary commitments. If a deficit is possible, MBS will help you take proper action to avoid a shortage.
• Funding Strategy: Your business situation has its own ideal avenue for funding. We’ll assist with securing lines of credit, loans and equity funding by preparing the necessary financial reports and narratives. We then package these in the most understandable form for your funding source. If you desire, we’ll even help with your sales pitch.
• Cash Growth: We’ll develop a strategy for building an excess of funds, then devise ways to use and invest it.
• Banking Relationships: Maintaining a strong relationship with your bank is key. This leads to more favorable banking services, loans and lines of credit.

Financial & Operational Reporting

• Global Business Review: We identify key business issues, then explain their effect on the overall business. Specific recommendations for improvement are provided. A variety of financial, operational and proprietary reports help you view the business from many perspectives. This way, you can focus on figuring out the correct course of action, rather than figuring out what is actually happening.
•  Key Indicators Report: These distill your business down to its essential metrics. At a glance, you can monitor the drivers of your business and indicators of its health. Compare your current results to prior years’, to your budget and to your industry.
• Sales Console: The detailed sales metrics data assists you in determining each salesperson’s effectiveness, calculate their amount of profit earned and find out if individual Sales Reps have met their goals.

Financial Matters

• Accounting Department Oversight: Even if you’re large enough to staff bookkeeping, you still need a veteran accountant in place for supervision. This oversight increases data entry accuracy and ensures that proper accounting principles are followed. This way, your financial reports reflect the business’ true financial position.
• Month-End Closing: We’ll record journal entries according to the accrual method of accounting and follow proper accounting principles. Also, we’ll maintain supporting schedules for general ledger accounts such as fixed assets, prepaid expenses and deposits..
• Negotiate With Vendors: More reasonable pricing, payment terms will be our goal.
• Purchase Negotiations: We have experience in negotiating lease terms and terms for purchase of capital items and services.

Sales

• Sales Commission System: We’ll tailor a sales commission system that promotes the sale of products and services in the desired mix at the optimum gross margin.
• Gross Margin Analysis: This determines which products and services are the most profitable and decides whether the pricing structure can meet the company’s goals. Together, we’ll create strategy for improving margins.

Strategic Planning

• Annual Budget: A budget is your business plan, articulated in numbers instead of words. Creating a detailed model of your business helps determine if your strategy is feasible and profitable. A budget also serves as a benchmark to measure progress. Included in this service are the following budgets:  Financial, Sales, Staffing, Advertising & Promotion, Key Indicators, Capital Expenditure, Balance Sheet and Cash Flow.
• Financial Projection: A financial projection supplements a business plan or helps obtain bank financing. The document extends the annual budget to five years, provides summary comparative data and charts important metrics.
• Consulting: Allow us to assist in analyzing business data and ideas. We’ll be a voice offering a systematic, methodical process to help determine proper courses of action. Once decisions are made, we’ll assist in the implementation of approved recommendations.

General Business Matters

• Cost Savings: We’ll analyze operating expenses to determine methods for reducing costs while maintaining customer service.
• Income Tax Integration: Your tax accountant needs correct reports in specific formats to help him prepare your tax return. We’ll also assist in the implementation of the tax accountant’s counsel.
• Sales Tax Return Preparation: Prepare sales tax returns for all taxing entities.
• Employee Handbook: We’ll help make your employment policies easy-to-read and in a style that reflects the culture. We highly recommend that all employee handbooks and employment policies be thoroughly reviewed by a qualified attorney.

Bookkeeping & QuickBooks

• Bookkeeping: Outsource your accounting and bookkeeping to Mindful Business Solutions to ensure your financial statements are prepared timely, accurately and according to proper accounting principles. Your accounting system will be effective and capable of producing the information you need to profitably manage.
• QuickBooks Configuration: MBS will design or modify your QuickBooks configuration to produce meaningful financial, sales, cash flow management and operational reports to use as management tools. We turn your accounting system into an information system.

Contact us to discuss anything further.