Planning Success for
Independent Business Owners

Financial Controls

"Our mission is to dedicate ourselves to the success of our clients as they define it. By helping our clients succeed, our employees will also achieve their own personal goals."

Man fixing gears on a dollar sign 
Does your company have a budget in place?


Employing sound financial controls begins with the development of an operating budget, which includes forecasting all future expenses, revenues, and margins. Without a sound understanding of how every sale and every expense impacts overall results, the ability to manage profits (which is the goal of sound financial control) will be lost. Most companies generate a P & L that shows what has already occurred – but they never get around to creating a true budget – which is actually a plan of what ought to happen. Without a budget – which shows you how and what to manage – a retailer is essentially “flying blind.”

JRM's Method to Success
  • We will begin by producing an annual budget for the company in Delivered Sales, Cost of Goods, Gross Profit, Advertising, Selling Expense, Occupancy Expense, Warehouse Expense, Delivery Expense, Administrative Expense, Customer Service Expense, IT Expense, Credit Income, and Credit Expense with the intent of building a budget for predictable net profit.
  • We will reformat the chart of accounts into a format allowing analysis of appropriate operational areas.
  • We will produce monthly and quarterly budgets utilizing the company’s historical information as well as current trend in revenue and expenses.
  • We will develop formats to track monthly P&L performance to monthly, quarterly, and year-to-date (YTD) budget forecasts.
  • We will develop management review processes for analyzing P&L performance which focus on the established bottom-line objectives or goals.
  • We will develop Pro-forma’s to determine the cost to benefit ratio of substantial investments.
  • Company dashboards will be employed as safeguards for the company. These Dashboards ensure that critical data flows effortlessly to senior management and owners.