Service Industries

Make Your Numbers as Strong as Your Team, Talent & Relationships

It doesn’t matter if you own a small technology firm, hair salon, cleaning service, interior decorating service, or are a freelance marketing business – professional services firms and the service industry have a lot in common with their numbers. Past the number of appointments booked, timesheet entries, the common denominator is the same, hours worked = hours billed.

Whether you bill by the hour, the service, the appointment, or work on a commission basis, there are many financial challenges facing a service-oriented business:

  • Balancing invoicing and financial responsibilities with the day-to-day client service
  • Dealing with accounts receivable, late payments, and collections
  • Properly handling the markup, tax, and payment for the cost of goods sold in your service-driven industry
  • Using your financials to forecast bandwidth, staffing, and the need to hire talent
  • Properly recording deprecation for computers, furniture, fixtures and other equipment
  • Tax planning, payment of quarterly estimated taxes, and the tax implications of your business structure
  • Obtaining financing or lines of credit without significant collateral

And, most importantly, having the cash to make payroll and covering the high overhead of your talented team – your biggest asset doesn’t show up on the balance sheet!

Education Is a Big Service

Whether you are an attorney, an insurance agent, an IT firm, or a service provider in, you understand that ongoing education is part of staying sharp in your field. Our education program and workshops – BSG Accounting Tax & Consulting – help you better understand the fundamentals of finance in your small service business. We provide this big service to you, allowing you to make smart choices about the future.

Transparent Pricing in a Hard to Price Industry

Because there isn’t always a price tag on a box, a sign at the counter, or a thorough project estimate and scope for every service, communicating costs in any service business can be a challenge. At BSG Accounting Tax & Consulting we work hard to be transparent in our pricing – unlike some of our competitors who simply quote you an hourly rate. We offer complimentary consultations, where you have the chance to tell us more about the financial challenges you face in your service business. We’ll review things like your cash flow, accounting, and help you understand how we would provide service to your small business and the time we’ll invest – you’ll find the benefits far outweigh the costs.