According to an article about challenges small retailers face from the MasterCard Biz Blog, failure of a business owner to focus on the fundamentals of the business is sure to lead to failure. The author described the fundamentals for retailers as:

  • Profit and loss
  • Breakeven and cash flow
  • Profit margins
  • Expenses
  • Quarterly Taxes
  • Sales Tax
  • Integrating POS and Inventory Tracking Software

The author stated that it’s ok if you, as the business owner, don’t want to focus on these things, but if you don’t, you’ll need to pay someone to do it for you. The Brown Smith Wallace Entrepreneurial Services Group has extensive experience in providing accounting services for retail establishments. We can step in to handle your payroll, tax planning and filings, accounting software set up and more.

We offer many compliance and consulting services critical to the retail industry, including:

  • Financial statements reporting
  • Tax compliance and planning, particularly for franchisors and franchisees
  • State and local nexus issues, for organizations with multiple locations
  • Store profitability analyses
  • Due diligence assistance
  • Projections
  • Assisting stores with tracking and reporting key financial information to management
  • General business consulting and best practices, including family business and succession issues
  • Temporary CFO services

To receive more information about our services, fill out the form to the right and someone will be in touch.