Financial Reporting for Architects: How to Read your Financial Statements
Are you wondering how to read your financial statements, as an architect, engineer, or designer? If so, this post explains…
"Get the value your financial operations don't give you - without the headache they do."
Expertise. Communication. Systems.
You benefit from our industry expertise, including standard operating procedures for progress billing, cash flow management, and project accounting.
Your financial operations, including any issues or actions, are communicated with you promptly by email or during a semi-monthly meeting.
You leverage best-in-class, cloud-based accounting applications, with administrative support for bookkeeping, payroll, billing, and analysis.
Architects, engineers, and design professionals hire us to de-stress, save time, and gain financial clarity.
We maintain readiness to provide quality cloud accounting services through certifications and affiliations with industry leaders.
Telebooks Network has become an invaluable asset to our firm. Sumner has implemented time-saving and user-friendly systems that have streamlined our bookkeeping operations, made us more efficient, and increased our quality controls. Sumner’s in-depth knowledge of QuickBooks keeps our bookkeeping records organized and accurate, and our monthly reports are insightful and easy to comprehend. Sumner also took charge of compiling our year-end data for our accountants which made our tax season run smoothly and efficiently. Telebooks Network is enjoyable to work with, and we appreciate the positive attitude and willingness to take the extra step to ensure our needs are taken care of.
Where you gain access to the systems and information you need to be in control of your finances.
Your services are designed to empower you around your finances.
You provide your receipts, bills, and sales invoices, and you receive your organized, reconciled books, using QuickBooks Online (purchased separately). Service includes accounting file backup.
Say goodbye to paper documents and receipts with AutoEntry, a paperless receipt and bill capture system. You submit receipts on-the-go with your smartphone by snapping a photo or by forwarding documents from your email.
Your bills are paid using an accounts payable management system, Bill.com (purchased separately), which includes owner approval controls and bill payment by check or ACH transfer.
Your sales invoices are sent and you are paid using an accounts receivable management system, Bill.com (purchased separately), which includes direct deposit to your bank account for ACH (electronic) payments.
You receive monthly, quarterly, and year-end financial statements. Your service includes year-end 1099 preparation & year-end reporting and collaboration with your tax accountant.
Easily compensate your employees with administrative support for Gusto payroll software (purchased separately), including direct deposit, electronic payment and filing of federal and state taxes and forms, and year-end Form W2 processing.
Your service includes employee benefits administration and customized payroll deductions, using Gusto. Streamline your hiring process with new hire setup forms, including benefits selection and employee document management.
You gain a clearer picture of your business performance with monthly, quarterly, and year-end analyses for revenue, profitability, cash flow, and growth.
Key Performance Indicators that are relevant to professional services are tracked for you, including operating profit margin, accounts receivable days, utilization, and free cash flow.
We recommend you set aside a percentage of revenue to budget for profit, owner compensation, tax, and operating expenses. Then we track YTD actual vs. target for these items.
Easily budget, track, and bill your time using BigTime Software (purchased separately), with system administrative support for accounting software integration, new project setup, invoice preparation, and monthly billing.
We keep track of your time and expense entries for each project, so you gain access to project-level metrics, including project health, profit margin, billing utilization, budget status, and work-in-progress.
Profitable professional services firms spend up to 35% of their time performing administrative tasks.
Here is your roadmap.
You introduce us to your business, communicate your needs, and ask questions about our services.
With your permission, we review your current books and provide a quote for the services you need.
When you select a desired solution, we work closely with you to ensure a smooth onboarding process.
Empower your professional services firm with real-time cloud accounting and financial reporting.
We specialize in cloud accounting & analysis for architecture, engineering, and design firms in the United States.
Sumner Darling is passionate about systems. With master's degrees in engineering and business, from the University of Nebraska and the University of South Florida, respectively, Sumner brings a unique combination of knowledge and experience to architecture, engineering, and design firms.
Mariana Darling creates a fun environment for team members to learn. With a bachelor's degree in teaching from the Universidad Nacional Autonoma de Mexico, Mariana's experience includes curriculum design and program promotion at the Instituto Politecnico Nacional in Mexico City.
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