If you are using our digital bookkeeping service our bookkeeper will reconcile all cash accounts at least once per week. In the last week of the month your bookkeeper will have a video call with you to discuss capital expenditures, new leases, debt schedules, payroll accruals, prepaid accruals, or unusual items that might have occurred during the month. If you’re not using our bookkeeping services your internal or external bookkeeper will need to commit to having all accounts reconciled by the 3rd business day of each month. Whether you are using our bookkeeping system or not, our dedicated accountant will have a video call with you by the 8th business day of each month to review all accruals and then we’ll have a report to you by the 12th business day of each month. We’ll then have a video conference with you on that day or a day or two after to review your financial performance and discuss strategies for strengthening it.

You might need to, but these are very important changes that would strengthen your organization even if you weren’t working with us.

1.  You’ll need to set an internal policy that all receipts for expenses must be digitally uploaded to your accounting system within 48 hours of purchase,
2.  You’ll need to agree that all checks written for your business be written out of your accounting system, and
3. If you aren’t using our Digital Bookkeeping service, your internal or external bookkeeper will need to agree to have all cash accounts reconciled by the 3rd business day of each month. Without this, we would be forced to disengage as it is what allows us to create awesome value for you.

We limit the number of accounting systems we work in so that our people can become experts in what they do. At this time we can bring you to a new level of profit visibility if you work in Quickbooks Online or a Quickbooks Desktop version that we can remote into.

It’s more likely that we’ll augment them and make them stronger. You’ll still need to keep people on your team to do all customer collections and payables management.

We focus on strengthening your management accounting so that you as the owner of manager can make more informed management decisions and scale your business. Your board of directors, bankers, and investors will especially appreciate your new level of accounting sophistication, but you’ll still need a tax preparer to do your taxes. Your tax preparer, however, will have a much easier time preparing your taxes because you’ve worked with us.

There is a certain degree of independence an auditor needs to maintain in order for their work to be accepted. We at Correct Profit won’t have that independence as we’ll be acting as a contracted member of your team. However, much of what we do closely mirrors GAAP, and while their may be some year-end adjustments an auditor needs to make, your review or audit will go much smoother and be much cheaper because you’ve been working with Correct Profit.

Yes. You’ll have a dedicated professional who will get to know you and your business. This allows them to maximize the value to you.

Yes! In fact that is all we do. Our expert bookkeepers and accountants will remote into your accounting system and then meet with you on regular video calls.

Yes. Because we don’t offer tax advice or audit services related to GAAP or IFRS, our services can create value in any culture. While we are trying to broaden our horizons, right now we only know English well enough to do business in. So if you can speak English, we can help you.

Sorry. That’s just not who we are. Our core offering is Financial Accounting because it matches the need in the marketplace we see for companies in a certain segment in the market. We offer Digital Bookkeeping as an add-on only to those companies who also sign up for Financial Accounting and need their basic bookkeeping to be done well in order for their Financial Accounting to have more meaning.