A small government contractor had not kept his accounting current. Bank downloads were incomplete both in number and in accuracy leaving more than 24 months of bank reconciliations to complete. In the end, the owner and RMOHC decided it was easier and more cost effective to rebuild the company’s books from scratch. In rebuilding the books, we were able to “sculpt” a chart of accounts that not only reflected the company, but brought its accounting setup in compliance with the FAR.
A home services company was bought out by another larger company. The owner called in RMOHC after numerous issues came to light preventing the company from closing its books. RMOHC learned its integrated service provider software, created correcting journal entries, re-reconciled bank statements, tied receivables to its purchase orders and compiled two years of auditable financial statements. The company closed it doors completely 2 months after finishing this engagement.
A small business client called RMOHC because they knew they had to get 2016 financial records in order. They had outgrown their spreadsheet accounting system. RMOHC was able to upload the spreadsheets, bank, and credit card files into Quickbooks. This allowed him to organize vendors and customers, and the client saw clean, clear financial statements for the first time.
Accounting: One home services client hired RMOHC to train her in basic accounting using our Fundamental Accounting for Business Owners course. It is an interactive program explaining the fundamentals of accounting customized to include accounting aspects germane to her particular business. The course culminated in her creating her own financial statements which took the mystery out of accounting. However, we weren’t able to remove the tedium….
Government Compliance: A small government contractor did not understand the regulations set out by the FAR (Federal Acquisitions Regulations) and how to set his business up in a compliant manner. RMOHC took him through its DCAA and Your Accounting Program course which trained him in financial and non-financial compliance issues. He learned the requirements that make government contract accounting different from private/public accounting. Now his company is compliant and RMOHC continues to provide on-going support.