What Does a Monthly Accounting Advisory Meeting Look Like?

Podcast

Summary

  • What do Your Immediate Cash Flow Services Look Like?
  • What’s Included in the Weekly and Monthly Advisory Meetings?
  • What Does Pricing Look Like?
  • How are One 8 Solutions Operations Organized?

Connect with Jonathan Bello

Meet Jonathan Bello

Jonathan Bello is the founder and managing director at One 8 Solutions. They provide outsourced accounting and bookkeeping services for small businesses along with advisory services that focus on gaining cash flow.

One 8 Solutions handles everything from basic bookkeeping to accounts payable to billing to invoicing for its clients.

However, where they stand out is their weekly or monthly meeting with clients. The meetings help them understand what is going on with their business financials.

Budgeting and forecasting are also available for some clients.

What do Your Immediate Cash Flow Services Look Like?

Diving right in, Jonathan explains that his monthly cash flow-focused meetings include a run-through of their P&L, balance sheet, and the cash flow statement.

From there, they shift their attention to the cash flow tool that is offered in QuickBooks Online (QBO) or their spreadsheet (whichever the client uses) to review what’s in the bank, bills due, money coming in, and projected revenue.

Not only are they helping their clients save money on their taxes like traditional tax advisors, but they are also focusing on helping them recover or improve their cash flow. They typically look out four weeks with this process.

If financing is on the client’s mind, Jonathan will loop in a preferred CFO to ensure things are being done correctly.

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What’s Included in the Weekly and Monthly Advisory Meetings?

Jonathan and his team start out with a detailed, fact-finding assessment to better understand each client. From there, they offer the client to meet on a weekly or monthly basis.

In the meetings, Jonathan likes to start by presenting comparisons from the P&L. Typically, examining month-to-date, prior month, and same month last year metrics will help to identify trends in growth.

The balance sheet also reveals trends. Reviewing all of these reports and trends and a review of the cash flow statement will pull it all together.

Finally, they move into projections. The overall meeting typically takes an hour and a half.

What Does Pricing Look Like?

For the monthly controller revenue package, One 8 Solutions is averaging about $2,500. Because of the complexity and demand of some clients, he invoices on a weekly basis.

Overall, there are three packages. The bookkeeping package starts at $600. There is also an accountant package and controller package – which is the one that includes the cash flow forecasting along with other services.

How are One 8 Solutions Operations Organized?

During this crisis, Jonathan has been lucky to find employees organically.

His accountant/operations manager is at the senior level and has experience at all levels of accounting. He reached out to Jonathan when he was in the process of implementing his new workflow management system and needed assistance.

In another conversation with a friend, Jonathan realized her potential for improving the workflow process and brought her on to do that.

Jonathan also finds value in networking. He is a part of multiple groups that meet monthly to discuss different subject matters. These virtual meetings are very helpful, as he conducts his entire business virtually as well.
To learn more about One 8 Solutions and its processes, be sure to listen to the full podcast above and send Jonathan an email! He is happy to set up a call and connect!

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