The bidding process can be a daunting process for a small business starting to explore this revenue game changer. There are multiple steps to take and a large pool of projects to pick from. It is very hard for a business to know when a good time is to bid and how you will select the best projects for you. T OfficeKEY we have broken down the full bidding process cycle from start to finish into 4 different phases; in which we also help you take into account how you are going to fund the start up of this project and our business managers will help you review your financials to see if your company has enough runway to get it all done and get to the finish line with a healthy profit margin. You don’t have to go it alone or pay the high cost of the learning curve. OfficeKEY’s team of experts have been successfully bidding and winning bids on behalf of their customers since 2014.

Entrepreneurs often underestimate the value of monthly analyses of Key Performance Indicators (KPI’s) and budgeting, leaving themselves unprepared when assessing future growth and investments. The availability of an accurate and current Profit and Loss statement along with a budget ensures meeting of current financial commitments and planning for expansion.

Certified payroll processing for prevailing wage projects is a high paced time sensitive process within the construction project compliance world. There are fines associated with late filings and delayed project payments when payrolls are not certified in a timely manner. Our LCPTracker certified experts have streamlined this entire process to fully support your team.

The construction industry has many facets, and they are all important, however, the compliance portion of construction is the lifeline of every project. Without funding things will not get done. That is why hiring a knowledgeable expert to deliver the necessary compliance paperwork is important. Our program supports your projects from start to finish.

Keeping a company compliant with all federal and governmental agencies can be a daunting task. Each industry and governmental agency is different. Being non-compliant can cause unwanted company closures. Don’t neglect this very important part of your business operation. A company can easily be under reporting which can cause unwanted and detrimental costs, but a company can also be over reporting and spending unnecessary fees jeopardizing the yearly budget. Our compliance team takes the burden off your hands and ensures that your company is reporting on time and only what is necessary.

Without proper planning, small businesses can suffer a lack of growth and stability. As well, business owners can find themselves unable to move forward with their own vision of retirement and security. Through the 5 phases in a comprehensive development assistance program: Growth – Establishment – Expansion – Maturity – Retirement, entrepreneurs can move forward in their business with unfettered confidence.

Many business owners attempt to manage their own books, only to learn the hard way that there is far more to bookkeeping than balancing a checkbook. Maintaining accurate books requires a vast knowledge base in order to make the most of every dollar earned and every dollar spent.

Financial meetings are seriously underrated. During financial meetings, company decision makers come together with one of our OfficeKEY business managers to discuss all the Key Performing Indicators that have been previously identified on the Profit & Loss, Balance Sheet, Budget, Cash Flow Projections and Forecast Reports for proper strategizing and planning. This one-hour monthly exercise will identify problem areas in the business that need adjustments in order to take the company to a more profitable stage.

Inadequate payroll management can have leave a company at a disadvantage in the long term. Accurate payroll management assures completion of all necessary financial records as well as efficient time keeping for every team member.

Processing payroll can be a complicated and a time consuming task. There are quarterly and annual compliance deadlines, as well as tax payments that must all be tended to in a timely manner. Whether processing regular payroll, or year-end W2’s, worry free payroll services free you up for growing your business.

Running your business without technology, apps or software is now impossible and if you are not shopping around, you will spend an extensive amount of your budget for supportive software. We have partnered with top payroll platforms allowing us the opportunity to offer their software to our clients at a fraction of what retail accounts go for.

As a business owner, it is your responsibility to make sure things are running and operational; you, therefore, need to request funding such as loans and apply for credit cards and sign lease agreements as the guarantor. And on and on, your personal information begins to intermingle with the business that you get to a point where managing your personal information becomes a business property and liability and hard to keep up with. Running a business is also time-consuming for owners and in most cases, they don’t have time to attend to their personal matters. This service on our platform serves as your gate keeper for all your personal and valuable information and is available for our OfficeKEY team, to handle those personal matters on your behalf. Your business doesn’t have to stop running because you didn’t have time to fill out the application, we will help you keep the lights on.

We plan for weddings, birthday parties, vacations, and even funerals. But tax planning doesn’t even make it on the list and it’s one of the most important steps we can take towards financial freedom. What many business owners ignore is that their business is more than the products and services they offer. Their business is the vehicle they can use to create a better financial future for their organization, employees, vendors, and family. Our business managers help our clients save thousands of dollars and redirect unhealthy expenses and convert them to healthy spending habits that create higher profitability and a brighter tomorrow. During your tax planning meetings with your business manager here at OfficeKEY, you will be able to see a full financial view of your business and plan your tax liability better. You’ll see where your business can affect your personal taxes and we will help you plan for that as well. We will also work hand-in-hand with your tax preparer if you choose not to use our office for that service.

If you are narrowing down your tax preparation to a one-time annual meeting with your tax preparer, you might be in for a big surprise. Sure, that might work for your personal taxes but if you have an S Corp, C Corp or LLC your personal taxes may be impacted as well. (See Tax Planning for more information on your personal taxes) At OfficeKEY, we start preparing for your tax filing the moment we reconcile your first quarter of the year. The upcoming months after you close your first quarter are crucial for the preparation of the filing of your business taxes. Your spending habits need to gear toward a more favorable profit margin, healthy balance sheet and adequate tax liability. With the guidance of our business managers and the assistance of our in-house tax preparers we will be able to see a guesstimated tax return months before they are due which will be crucial to the cash flow availability of your business.

Transactional Accounting is explained as an emphasis on the inputting, reporting and details of daily transactions that occur for an organization. The focus is on the individual transactions rather than the whole result (inputting, reporting and details) of the organization’s outcome for the end of the period (financial statements). In non-transactional accounting, there is less need for daily updates and attention to certain items, as the goal is to close out the period and produce financial statements. It is then that most of the attention is dedicated. This type of accounting is for fast-paced businesses that need their numbers and financial information on a weekly basis.