> Accounting & Auditing
> Income & Estate Tax
> Payroll Processing
> QuickBooks Advisors
> Controllership Services

Internal controls (separation of duties to minimize undetected error)
  • Evaluate information systems.
  • Review current policies and procedures.
  • Develop and implement systems and /or procedures to strengthen operating controls.
  • Assist in training of personnel involved in the paperwork process.

Planning & Budgeting (encourage active planning & follow-up)

  • Assist in developing monthly, annual, and long-range budgets.
  • Periodic meeting with management to compare actual results with plans and follow-up on variances.
  • Assist in developing a cash budget to alleviate "crunches" in high cash need, low volume periods.
  • Assist in developing purchasing plans consistent with operational goals and cash requirements.

Inventory (minimize dollars invested, maximize volume)

  • Review purchase/receiving data input into inventory.
  • Test price changes entered into inventory system (cost & retail).
  • Spot-check inventory counts and pricing to system details.
  • Review inventory detail for slow moving merchandise for follow-up by management.

Receivables (minimize dollars invested & period outstanding)

  • Review accounts receivable aging and follow up on collection efforts.
  • Review accounts written off for propriety and collection efforts.
  • Establish controls over accounts written off relative to subsequent collection.
  • Test sales transactions to verify inclusion in accounts receivable.
  • Review credit memos issued for authorization and propriety.
  • Establish policies & procedures for tracking returned merchandise.
  • Review bank reconciliation process to verify inclusion of all transactions.

General (maximize return on investment)

  • Assist in analysis of insurance coverage and costs thereof.
  • Assist in developing employee benefit packages to maximize return on investment.
  • Assist in developing compensation methods to motivate staff and maximize return to the company.
  • Assist in analyzing acquisitions of equipment to maximize return on investment.
  • Review costs of funds and banking relationships to maximize return to the company.

For more information, please send email to estateplanning@sierracpa.com