Why CPG Companies Should Invest in Outsourced Bookkeeping
At Accountfully, we work with clients across all industries, but over time, our fondness for food entrepreneurs has grown and grown. Why? Besides being foodies, we respect their need to focus on what they want to be doing: devoting their time to the products they’re making and selling, not the necessary operational side of things. That’s where we come in. Accountfully works with food entrepreneurs to help them adopt successful bookkeeping and accounting strategies.
Tired Of Going At It Alone?
More often than not, food entrepreneurs and CPG business owners don’t have enough bookkeeping knowledge or industry experience to successfully oversee and execute their accounting needs. Sure they can send invoices and process their payroll, but what about tracking inventory and understanding contribution margins by customer?
Accountfully works with product-based business owners who have unique inventory-related bookkeeping needs that most general bookkeepers aren’t able to serve. As a collaborative accounting partner, Accountfully not only maintains accurate and timely financials, they also serve as a key strategic advisor. This means we’re talking about co packers and margins and potential sales opportunities. These are necessary conversations for brands that want to be next level.
How Long Can I Go Solo?
Long story short-there’s no wrong time to outsource your bookkeeping and accounting needs. There might be initial budgetary restraints, but for the proactive business owner who wants to get ahead and have the bookkeeping in place before their products are being sold, Accountfully can implement simple and affordable bookkeeping solutions that work with smaller budgets and paired down needs. Trust us, it can feel like an undertaking at first, but being proactive is always more affordable when best practices are established up front
Who Is On My Bookkeeping Bench?
One of the benefits of working with an outsourced bookkeeping and accounting firm like Accountfully is that you get an entire team rather than a single staff member. Accountfully offers business owners the resources and knowledge of an entire team with different areas of expertise. And given our experience with food entrepreneurs we have plenty of client growing pains to use as teachable moments. We’re proud of the food entrepreneur community we’re part of and love connecting clients so they can troubleshoot and compare notes about challenges they have that fall completely outside of the accounting and bookkeeping realm.
Once a team has been assigned to an engagement, they work closely with the business owner to understand the business’ financial history as well as the business owner’s goals for the future. Working collaboratively with the clients, Accountfully works to keep the engagements staffed by the same team throughout the duration of the relationship. This way we’re able to look ahead and find opportunities based on previous knowledge.
At Accountfully, we have the pleasure of working with business owners and helping them make smart decisions that will positively impact and support their business. Wanting to go at it alone is understandable but not ideal. Partner with a team of industry experts that will help you grow your business and succeed.
Originally published at http://blog.accountfully.com.