Anyone who runs a growing business appreciates the importance of good financial information. But acting as a controller — or handling bookkeeping and other critical back-office functions — can distract you and your overburdened staff from your core competency. And that can really hurt your business' prospects for success. It's no wonder that over 70% of small businesses choose to outsource at least one back-office function, such as bookkeeping services.*
*Source: Wasp Barcode Technologies, “Small Business Report — Accounting,” 2015.
Supporting Strategies is here to help. As your outsourced bookkeeper and controller, our skilled, experienced professionals use secure, best-of-breed technology and proven processes to deliver a back-office solution that will provide you with critical information that promotes the success of your growing business.
When you work with Supporting Strategies, there's no need to hire a controller, an HR administrator or an accounts payable manager. We can fill all those functions, giving your business one comprehensive, cost-effective, long-term solution for bookkeeping services and other back-office needs. As a result, you and your team can focus on what you do best.
Supporting Strategies offers a range of outsourced bookkeeping services, controller services and operational support that will transform the financial management of your business. We can help you choose the most appropriate services, such as:
Revenue and Accounts Receivable
Supporting Strategies prepares and sends invoices, reviews A/R aging and then follows up with your clients on collections. We also record revenue and sales receipts, post and apply bank deposits, update client deposit reconciliations as needed and prepare and submit sales-tax filings. When appropriate, we save relevant supporting documentation.
Expenses and Accounts Payable
Supporting Strategies processes credit card expense transactions and vendor bills. If you have contractors, we ensure they are paid, collect W-9s and manage submission of 1099s to the IRS and the state. We also handle vendor management, receipt management and expense reporting.
HR and Payroll
Supporting Strategies handles many aspects of payroll administration, including setup, processing, and journal entries and reconciliations. We also help with benefits administration, such as payroll deductions for benefit plans, paid and sick time-off tracking and monitoring retirement plan contributions and limits. In the area of employment assistance, we assist with new hire/termination coordination and manage the employee master file, including following up on missing information/documentation.
Bookkeeping and Month-end Close
Supporting Strategies ensures all transactions are accurately captured in the books. In our month-end close and review process, we make necessary journal entry adjustments, reconcile balance sheet accounts and verify accuracy of income statements. We also support additional categorization, such as class or project accounting.
Financials, Planning and Analysis
Supporting Strategies delivers a standard monthly financial package, including balance sheet, income statement and statement of cash flows. We also provide additional management reporting to meet client needs. This may include cash reporting, budget vs. actual analysis and/or a key performance indicators dashboard. We assist with preparing budgets and forecasts and provide analysis on performance against plan. In addition, we fulfill requests from your CPA and field and coordinate filings with state or other government agencies.