Highly trained virtual accountants are able to save businesses huge amounts of money without being on your regular staff. But they need to understand the industry and have the right tools to do it. The flooring industry in particular has its own unique challenges. At RollMaster, we employ a team of experts in both the flooring industry as well as accounting and consulting to help our clients make the most of their sales.
What is a Virtual CFO?
In our consulting department, we have accountants on staff who can help your business virtually. These professionals are our “Virtual CFOs” and they’ve helped many businesses whip their accounts into shape! Our virtual accountants can tackle large projects as well as helping with the day to day operations of your business. Our experts are well versed in the challenges of the flooring industry and can help you boost your business performance.
What Do Virtual CFOs Do?
While our team of consultants can handle just about any problem our clients face, our virtual CFOs are focused on the numbers. They can handle a wide range of projects including the following:
- Month-end close
- Balance sheet reconciliation
- Closing of accounting periods
- Inventory reconciliation
- Bank reconciliation
- Monthly allocations
- Recurring expenses
- Posting depreciation
- Property taxes posting (recurring & accruals)
- Financial reporting and review
- Payroll journal entries (bimonthly)
- Posting and review of accounting journals
The Right Tools Of The Trade
Just like your installation needs the right tools to get the job done, so do accountants. Having all of the information they need, all in one place makes their jobs faster and easier and helps you get the best results! RollMaster Flooring Software was built for the accurate flow of data. This means less time entering data into the system, and more time making the changes that positively impact your business. When our virtual accountants can see your business data clearly, they’re able to see the opportunities for improvement. One of our most impressive saves for a client was all about changing how their business handles tax.
Save on Sales Tax!
Your virtual accountant can help you manage your state’s laws in regards to sales tax. Because this differs from state to state, and even by county, it can change dramatically based on your business location. If possible, your accountant can help you to use tax to your advantage!
Many flooring companies software choices don’t include the option of handling sales tax. This can be a huge benefit and should absolutely be considered when choosing a flooring business software. RollMaster Flooring Software not only is capable of handling tax, but our virtual accountants can help you do it! In a recent instance, one of our consultants was able to assist a RollMaster user with switching to “lump sum billing”. This small change had a huge impact and saved the business over $20K in tax remittance!