Ancillary Business

You have what it takes

Business Start-Up Planning and Advisory

You have decided that you have what it takes to be an entrepreneur and are ready to become a business owner.

But without strategic goals, a business plan and a well articulated strategy, an idea will continue to exist only as an aspiration.

Once entrepreneurs truly understand why a business is going to exist it is important to put the wheels in motion, developing a strategy that is going to turn the vision into a profitable business venture.

In the early planning stages, there are many details that will require an owner’s attention. At FCR we have a team of small business advisors who can help you get the business off the ground.

From business planning and industry advisory to accessing start-up capital, producing projections and registering your new entity, our team will guide you every step of the way.

Bookkeeping and Ledger Management

In addition to accounting and reporting services, FCR can also facilitate bookkeeping and account services.

For young entrepreneurs, new business owners and start-ups, the support of a professional bookkeeper can ensure that limited resources are accounted for appropriately and that accounts and transactions are well organized for financial statement preparation.

For many small businesses, external bookkeeping tends to be more cost effective because it enables business owners to forego the costs associated with staffing a full or part time bookkeeping staff, such as the payment of benefits, premiums and taxes.

Our bookkeeping services include:

  • Accounts payable/receivable
  • Bank, inventory and credit card reconciliation
  • Government reporting
  • Ledger and journal review
  • Payroll services

With FCR book keeping services, rest assured that your business activity is recorded appropriately the first time.

Ancillary Business

As businesses and organizations grow, they become more complex. Amongst this complexity are several systems to assist in the administration of a company’s working capital. But what happens when the systems implemented by management are not 100% accurate or efficient?

Industry averages suggest that companies loose 0.1% or more of their total spending as a result of accumulated inaccuracies and oversights within their transactional systems.

For many of our clients, the most significant occurrence of these losses is attributable to inconsistencies in accounts payable and the disbursement of payments. Small inaccuracies in invoice posting and payment add up over time and eventually represent significant amounts of lost profit.

To improve these processes, FCR has partnered with ITC Recovery to provide organizations with ancillary business services. ITC works with companies to identify inefficiencies in transactional systems and provides comprehensive and thorough cost recovery analysis of purchasing and accounts payable systems to identify recovery and savings opportunities.

Recovery analysis focuses on the following categories:

Duplicate payment analysis
  • Cash and volume discounts and rebates
  • Credits on returned goods
  • Return policy analysis
Pricing error analysis
  • Financial statement analysis
  • Equipment lease analysis
  • Contract compliance analysis