Q: I already have a bookkeeper that does my books. What does PBI do differently?
A: Not all bookkeepers are alike. Depending on your bookkeeper’s strengths and weaknesses, PBI will tailor a program specifically for your business. It may entail reducing risks of fraud and waste, or it may creating bankable financial statements that allow you to get financing and expand your business. It depends on your needs and goals.
Q: I already have a CPA that looks over my books. What does PBI do differently?
A: Not all CPA’s are alike either. Most CPA’s focus on tax preparation and use some variant of cash accounting. Unfortunately, many rarely leave their offices. To run a business by the numbers, accrual based GAAP and cost accounting is best. Usually this requires some hands-on, on-site experience. At PBI, we roll up our sleeves and get into the details of a business. That way we can give you the best strategies to increase profitability and reduce risks.
Q: I started the business years ago and it has grown. I’ve added a lot of people, but I now feel so disconnected from the business. I don’t know if we’re on the right path or not. What can you do?
A: At PBI, we’re experts at business metrics. We can get you the reports and metrics that allow you to keep your finger on pulse, blood pressure, temperature and respiration of your business. We ensure that you get the reports you need, when you need them, and teach you how to use them to manage your business.
Q: I get financial reports from my accounting people, but they’re always a month or two behind. Isn’t there a way to get them done faster? It feels like I’m managing while looking backwards.
A: Yes, absolutely. We strive to get your books closed and reports to you within a few days after the end of the month. In fact, chronically late financial reporting is often an indication of severe accounting risks. It may be prudent to review your accounting operations and controls.
Q: PBI does forensic accounting. I suspect problems at my company. Can you find any fraud?
A: Fraud takes on many forms. Sales, purchasing, inventory, cash receipts, cash disbursements, and payroll are all susceptible to various fraud schemes. Some are very easily detected and proven. Other’s are more difficult to prove beyond a reasonable doubt. If you have suspicions, we can review your operations, let you know if you’re susceptible, and document losses for insurance claims or prosecution.
Q: My partners and I are having some disputes. Do you do reviews of expenses and profits to help answer such questions?
A: Business owners often have their businesses pay many expenses. And partners don’t always claim the same expenses. PBI is very accustomed to reviewing and explaining the differences. We can mediate non-binding solutions to help resolve disputes and allow you to get back to managing the business.
A: PBI works with a number of attorneys on a variety of cases. Divorce, partner’s income, bankruptcy and breach of fiduciary duties are common areas we help attorneys and claimants. Usually the more complicated the issues, the more our clients and attorney’s need PBI.
Q: I own a XXXX business and I’m having a hard time finding someone with experience in that industry. Does PBI have experience in XXX?
A: PBI may or may not have your specific industry experience. PBI brings a new set of eyes to your company to identify risks and opportunities for improvement. PBI doesn’t just review your numbers; we perform operational audits and reviews of your processes and procedures. Additionally, we’re experts at all types of accounting, IT systems and have worked with hundreds of companies from Fortune 50 companies to startups. There are very few businesses we don’t service.