Fractional CFO Insight for Summit's Consultants and Professional Firms

Summit's business community leans professional: management and technology consultants, physicians and therapists near Overlook Medical Center, attorneys, financial planners and design firms. Many began as solo practices and grew to five, ten or twenty people. Somewhere along the way, a spreadsheet budget and year-end tax return stopped being enough.

Signs you may need more than data entry:

• You are not sure which clients or service lines are most profitable
• Hiring decisions are made on instinct rather than projections
• Receivables are growing faster than revenue
• Partners disagree about distributions because the numbers are unclear
• A bank or investor has asked for statements you cannot produce quickly

Strategy only works on accurate books. We begin with reliable monthly bookkeeping and close procedures, then produce financial statements that tie to every bank and credit account. For firms working on an accrual basis, we track unbilled work, receivables and deferred revenue so profit reflects reality rather than the timing of client payments. We are not a CPA firm and do not perform audits or reviews; if a lender requires attested statements, we prepare the books so your CPA's engagement goes smoothly.

Partners and owners often draw unevenly through the year, then face a large tax bill. We help set a consistent owner pay plan aligned with cash flow, and our free Quarterly Tax Estimator, under the Calculator button on our site, helps estimate set-asides between meetings with your tax adviser.