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Your 24/7 access real-time accounting system... keeping your finances under control with Tsadik G Management.

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Your 24/7 access real-time
accounting system…
keeping your finances under control with Tsadik G Management
Tsadik G Management
Count on TGM. We get it done right.
Technology is moving at
an incredible rate and this
is certainly the case with
accounting systems.
All the major software
companies are committed
to cloud accounting
systems and very soon
support will cease for
desktop systems.
This means unless you
want to struggle with a
manual or spreadsheet-
based accounting system
you will have to move to
the cloud sometime soon.
And thats not such a bad
thing…
A cloud accounting system
will make your life so
much easier.
Lets look at the 4
common types of
accounting systems:
A manual system is cheap; you only
have to buy a book. But thats a false
economy. Manual systems simply
take too long. And your time is too
valuable. It also takes the accountant
more time to produce
accounts/reports so you end up with
bigger accountancy fees. Manual
systems also do not provide that all-
important management information
for making great business decisions.
Excel and other spreadsheet-based
systems are also cheap. And while
you can automate some processes
(e.g. adding up columns), they take
time to set up, you need advanced
Excel skills to produce management
reports and you can waste hours
changing the spreadsheet as your
business grows and evolves.
Then there is the old-fashioned
desktop system. While these are far
better than manual and spreadsheet-
based accounting systems they come
with a host of hidden costs. Yes, the
software can be relatively cheap. But
thats a false economy because of
these hidden costs:
Customization setting up the
software and any reports to work
for your business,
Implementation many desktop
systems have been around for years
and are cumbersome. You can
waste hours carrying out data entry
in old-fashioned ways,
Hardware because a desktop
system is hosted internally you
must maintain your hardware to
meet the demands of changing
software,
The world is changing fast
Software upgrades you must
deal with (often costly and
compulsory) software upgrades.
This can cost you in terms of
paying for the upgrade, spending
time carrying out the
installation, and sorting out the
mess if the installation doesn’t
work,
Security this is a big one. Your
sensitive financial data is only as
secure as your internal system.
What if your premises burns down
and the hard drives are destroyed?
What if your hard drives fail (which
is not uncommon)? What if your
computer systems are subject to
theft? How safe are your systems
from hackers?,
Back up routines Because the
security of your financial data is so
critical you must schedule regular
back up routines. And that means
every single day at least (because
systems can fail at any time), and
Restoring data when things go
wrong you will then need to
restore your data from a back up.
That takes time. Its stressful.
What if back up is corrupted and
doesn’t restore? Have you ever
tested your system to ensure you
can successfully restore in the
event of disaster?
The modern business
needs a state of the
art accounting
system
In contrast a modern cloud
accounting system gives you
the following benefits:
It saves you a very
significant amount of time,
Gives you 24/7 access to
up-to-date financial
information and reports
(you can use cloud-based
software from any device
with an internet
connection),
You can sleep at night
knowing your sensitive
financial data is always
secure and backed-up
automatically,
No system downtime
because all software
upgrades are automatically
installed. This worry-free
maintenance saves you
time and hassle,
It reduces your accountancy
fees because it makes it
easier for your accountant
to produce end of year
accounts, and
Since your
accountant/bookkeeper can
access your data 24/7, you
get more value from them
they will help you run and
grow your business rather
than just adding up the
numbers.
Lets quickly sum up the main points:
Staying legal - Your financial data is
critical. If you lose it you risk fines
and penalties from the tax authorities
for not keeping proper accounting
records.
Saving your precious time - You will
save so much time with a cloud
accounting system. Time you can
better use to grow your business.
Cost savings - You are likely to reduce
accountancy fees for producing your
end of year financial statements. This
is just one of the many cost savings.
Your future is at stake - Better
financial information helps you to
make better business decisions. But
its more important than that. We’ve
seen many businesses fail through
lack of financial information. Very
often businesses run out of cash.
They thought they had a profitable
business, but suddenly they can’t
meet the payroll at the end of the
month. Having the right numbers at
your fingertips will give you an early
warning system if things are not
going so well.
Lets get the bad news
out of the way…
Cloud accounting systems are so
much better than manual systems,
spreadsheet-based systems and
desktop software. But just like those
other 3 forms of accounting system
they are such a hassle to set up.
When setting up any accounting
system you need to set up details of
your business, set up the chart of
accounts (thats the specific types of
sales, income, expenses, assets and
liabilities unique to your business),
and transfer any opening balances.
Even for a small business this typically
takes at least 10 hours. And probably
much longer.
Your time is precious. For a business
owner who values his or her time at
$250 per hour, this is $2500 of
opportunity cost (i.e. the amount you
can earn if you don’t have to do this)
just to get set up. Do you really want
to spend $2500 setting this up
yourself?
Your hassle-free set up solution
We specialize in cloud accounting
solutions and setting businesses up on
the cloud. We will do this for you,
remove all the hassle, and you will
know it is set up the right way and will
save you hours of time and frustration.
So what is your investment?
Many accounting firms would quote you
an hourly rate to set up your accounting
system. In fact, thats how most
accounting and bookkeeping firms
price; an hourly rate.
The trouble with an hourly rate is you
have absolutely no idea what the cost
will be until after the work is complete.
You have to trust that they are keeping
an accurate record of how long they are
spending. And you have no way to
budget for the cost.
That doesn’t seem right to us… its
certainly not fair.
So what we do is give a fixed price
(based on your particular circumstances
and what you want). That way you can
budget and plan. You know with
certainty what it is going to cost.
We also know there is no such thing as
a one-size-fits-all solution. Every
business is different. Your business is
unique. So what we do is give you a
choice of different packages so you can
choose the one that best meets your
needs. And each of those packages
can be further tailored so you get
exactly what you want.
Oh, and one more thing… we have an
option that lets you spread the
payments...
Cash is so important
For the Standard set up service,
payment is due on commencement of
the work. However, we want to help
you with your cash flow, so…
With our Preferred and Ultimate set up
options as well as benefitting from
ongoing support and training, you can
spread the full cost over a number of
months. This makes it more affordable.
Does your data need a spring clean?
To set you up on a cloud accounting
system and transfer across your
financial records you will need to make
sure your current financial systems are
complete and up to date, your bank
accounts fully reconcile and you have an
accurate trial balance.
Sometimes businesses get behind with
their bookkeeping or there are errors.
This will need sorting out first. We call
this ‘clean up work’. If you need your
data cleaning up first, we can do this for
you. This is a separate service and we
can price this for you too.
And if you are not sure, we can carry
out a diagnostic review of your current
financial data.
Your options at a
glance
The following table summarizes what is
included within each of our cloud
accounting set up service levels.
To help you identify the best option for you
here is a quick overview:
Ultimate cloud set up - This is the best
option for busy business owners who want
the maximum out of their cloud accounting
system so they can make the best business
decisions based on the best quality
information. Payments can be spread over 12
months to help with your cash flow.
Preferred cloud set up - This is our most
popular option because you get ongoing
support for 6 months and you can spread the
payments making cash flow easier.
Standard cloud set up - This option is best
for those business owners who are simply
looking to get a basic cloud accounting
system set up fast.
FEATURES ULTIMATE PREFERRED STANDARD
Analyze
and select the best solution
Company set up routine
Chart of Accounts set up
Input debtor and creditor account
details
Enter comparative balances
Maximize your tax deductions*
Holistic system
FREE FREE FREE
Reconcile your existing system
Enter sales and purchase ledger open
invoices
Create your email and invoice templates
Set up your repeating transactions
Software subscription
FREE
(12 months)
FREE
(6 months)
FEATURES CONTINUED ULTIMATE PREFERRED STANDARD
Training on software
Unlimited email and telephone support
FREE
(12 months)
FREE
(6 months)
Create your fixed asset register
Full data and transaction history
conversion
Enhanced credit control
Quarterly reconciliation
Management information at your
fingertips
Bank feed set up
FREE
Follow up systems and business review
Note: The price of this service is fully deductible for tax purposes, which means that you can use this to decrease your taxable income, thus decreasing the amount of
tax you owe to the federal government.
* For most businesses, we usually identify at least $2500 of additional allowable business expenses that often lie unclaimed. And this often
more than pays for our cloud accounting system set up service, which means very often, it is effectively free.
We will analyze your specific needs and
help you select the best solution
There are a myriad of Cloud Accounting solutions.
They are all different. Some are better than others.
Some suit different types of business. Getting the
wrong solution will cause you a big headache. And
assessing all of the options is time-consuming. We will
analyze your business and recommend the most
appropriate cloud software solution that best meets
your needs. This will save you time and avoid the
headaches of having the wrong solution.
We’ll set up your company information in
the new system
Setting up a business on any Cloud Accounting
software is tedious and time consuming. We will do
the set up for you, which will save you time to get on
with running your business.
You can be sure that your numbers, income/sales tax
information and company information will be correct
and appear where they should. This will also make sure
that your stationery is compliant and all online
submissions contain the correct information for the
IRS.
How you
benefit from
our real-time
accounting
system
Setting up your chart of accounts
If this is the first time you have set up an
accounting system you will need a ‘chart of
accounts. Every business is different with
different types of sales, income, expenses, assets
and liabilities. The ‘chart of accounts’ is your list
of sales types, different income sources, expenses,
assets and liabilities. Its unique to you. Setting
this up correctly at the outset will save so much
time and make it much easier to post your
transactions to the right place. It will also make
your accounts more meaningful and so you will be
able to make much better business decisions.
Of course, you may already have a computerised
accounting system with your own unique chart of
accounts’. And if that’s the case, we will convert
that for you into the new system.
And we will analyse your chart of accounts and
discuss the benefits of refining this to enable
clearer business information and better reporting.
Creating your customer and supplier
records
It can be very time consuming to set up your
contacts, but don’t worry – we’ll handle that for
you.
And we will make sure that they are set up with
the right sales tax rates too.
Entering comparative balances
To get the most out of your new system, you will
want to be able to view touch-of-a-button reports
and, in order to get the very best information from
these reports, you will want to see comparative
information.
So what we will do is we will enter your historical
comparative balances (for the previous period) so
you can always see how well your business is
performing against historical trading information,
which will help you make better decisions about
how to grow your business.
“We will analyze your chart
of accounts and discuss the
benefits of refining this to
enable clearer business
information and better
reporting.”
Your holistic system
Many cloud accounting systems integrate
with other solutions. For example, you can
integrate many systems with your online
banking so that bank transactions are
automatically posted. This will save you
time and ensure everything is entered.
There are systems that allow you to
photograph receipts with your smart phone
and enter them into your bookkeeping
system; never worry about losing that
parking receipt again! You can integrate
online payment with direct debit systems.
You can integrate with payroll systems.
Stock and inventory systems. Debtor
management. The list goes on… but we’ll
simplify it for you.
You will be amazed at what you can do to
run your business more easily, to help you
get your cash faster and save you time. As
part of our set up service we will provide a
report setting out the most popular
integrations.
Maximize your tax deductions
As part of your set up we will take you through a
list of some of the most common tax-deductible
expenses and show you how to easily record them
into your cloud accounting system. This means you
will be able to claim every penny possible against
your tax bills and have more money in your pocket.
Many of these tax-deductible expenses are often
overlooked which means many business owners
end up paying unnecessary amounts of tax (for
example, use of home as office and mileage
allowances).
EXAMPLE: Its not uncommon to justify
home office expenses at 15% of
household bills and not uncommon for
allowable household bills to add up to
$10,000. So the amount of money at
stake when not properly claiming this
expense could easily be $1,500.
Your extra benefits from our
Preferred Cloud Set Up service:
Reconcile your existing system
In order to make sure that good quality
clean data is brought across from your
existing system we will check that your
current year information reconciles. That
way, you know that you can rely on the
information that your new system will be
able to produce for you.
Sales and purchase open
transactions
Making sure that you enter your opening
balances’ correctly is crucial – get it
wrong and you risk over collecting sales
tax, or missing information. Not only will
we make sure that all this information is
brought across perfectly into your new
system, we will also reconcile the debtor
and creditor accounts and discuss
anything we think needs attention with
you helping you keep on top of who
owes you, who you owe and finding out
whether there is any tax relief available
on older items.
Creating your email and invoice
templates
Cloud systems produce beautiful looking
invoices and statements, but creating
these can be a task if you are not familiar
with the process. We will do this for you
and we’ll make sure that all your legal
information is where it should be too.
Setting up your regular transactions
To make life even easier, if you have
repeating sales or purchase invoices, or
journal entries, we can set these up for
you so that they happen on the dates
they are due, even while you are asleep
freeing up so much more of your time
and making sure that nothing gets missed
or forgotten!
“If you have repeating sales or
purchase invoices, or journal
entries, we can set these up for
you so that they happen on the
dates they are due, even while
you are asleep”
Full data and transaction history
conversion
If you need to keep the detailed
transaction data, rather than just the
accounting balances, we will convert
your existing data into the new system
in full – this means that you don’t lose
any of your transactional history.
Software subscription
Cloud accounting software companies
charge a monthly subscription for using
their system (for example, an annual
subscription to leading cloud
accounting systems is often in excess of
$600). But as part of our Preferred set
up option we pay this on your behalf
for the first 6 months.
Software training
Bookkeeping is not easy. It has to be
very precise. Combine that with having
to learn a new software system and it
can get very frustrating. Thats why we
provide training as part of our
Preferred and Ultimate set up services.
We want to help you get your
bookkeeping done fast and accurately.
The training consists of a training
session which you can access either all
at once or have a series of shorter
sessions (for example 1/2 hour per
week for 7 weeks).
Support
Even with training there will be times
when you are not sure how best to
account for something. For example,
you can claim a mileage allowance for
using a bike, so you cycle to a customer.
How do you enter that? As part of our
Preferred and Ultimate set up services
you get a period of unlimited email and
telephone support. And not only will
we support you by email or telephone,
we can also take over your computer
remotely and even post the transaction
for you.
And not only will we support you by email or
telephone, we can also take over your computer
remotely and post the transaction for you.
Your extra benefits from our
Ultimate Cloud Set Up service:
Create your fixed asset register
One of the very best things about cloud
accounting systems is that they will help
you to accurately handle your fixed asset
register, depreciation and any disposals.
These are complicated accounting
transactions that have to be done
properly in order for your accounts to be
right.
To make sure you get the biggest benefit
from this functionality, we will re-create
your fixed asset register within the
system, make sure that each asset
category is being depreciated in line with
your accounting policies, set up the
depreciation for you and provide you
with a comprehensive report on your
assets so you can consider whether any
adjustments need to be made at your
year end.
Enhanced credit control
Cash is so important. And one of the big
benefits of a cloud accounting system is
the ability to keep on top of your cash
and bank balances, on top of your
debtors (i.e. who owes you money) and
get paid easier. There are now so many
easy ways to manage debtors and get
paid automatically (e.g. online payments
and direct debits) and so many ways to
integrate this into your system. Our
Enhanced credit control service will
identify all the options available to your
business to help you get paid quicker and
have more money in your bank account.
Quarterly reconciliation
Reconciling your bank account on a
regular basis is critical. When you get to
the year-end, if this doesn’t reconcile
your accounts will be wrong. You could
end up paying too much tax because
you’ve missed allowable expenses. Or
you risk fines and penalties from the IRS
because you’ve missed taxable income.
Or you have to pay higher accountancy
fees for the accountant to sort it out.
So what we do is reconcile your bank
account each quarter for the first 12
months and this means you get an early
warning sign if something is going wrong
with your bookkeeping. We can fix it
before it becomes a serious problem for
you.
Management information at your
fingertips
The real power of a cloud accounting
system is having important management
information to hand. Information such as,
who owes me money, what are my sales
this month and am I making a profit? As
part of our Ultimate set up we will help
you set up the key reports you need so
that the most important information is
always a click away.
In addition we can set up your financial
dashboard; a fully customizable screen
showing you the key financial information
you need to run your business. You’ll come
to rely on this Financial Dashboard just as
much as you rely on the dashboard in your
car when driving.
Setting up your bank feeds
We will set up all of your available bank
feeds, make sure that these are connecting
properly, reconcile at the beginning of the
feed and show you how to use these to
keep up to date daily with your finances.
Follow up systems and business
review meeting
Once you’re up and running we’ll give you
some time to get to grips with the system
and then we’ll arrange a meeting so you
can go through in detail any areas that you
need a bit more help with.
As part of this, because you will have
access to real-time business information to
help you make decisions, we’ll also talk to
you about your numbers and your plans for
the business.
Your software subscription
We’ll pay your subscription for you for an
extra 6 months… in other words for the
first full year.
Fast-Track It:
Creating a full chart of accounts
and data conversion takes time.
Please allow 21 days for the
completion of your cloud
accounting system set up.
However, if its important to get
this done quickly, for a small
upgrade we will make this a
priority and guarantee
completion in 5 working days.
Here are a couple of things we are often asked about
that we can give you a fixed price for:
Accounting record clean up and business review
Processing transactions, finding entry errors, reconciling
differences is what we do. Day in and day out. Before
moving across a trial balance and other data into a
cloud accounting system its essential that everything
fully reconciles and balances. If you are worried that
this isn’t the case we will give you a fixed price for
reviewing your accounting data and making sure that
everything is in order which means the transfer across
will be as seamless as possible.
This is how you benefit from our accounting record
clean up and business review service:
a full operational review of your current record
keeping and systems to find quicker, better and
cheaper ways for you to keep up to date,
rigorous quality control checks on the financial
information, tax returns and accounts to eliminate
any errors which may cause you problems when the
tax authorities decide to check your records,
a dedicated professional to get your accounts back
up to date in the shortest time possible and saving
you the time and hassle of doing it,
reduced accountancy fees because it makes it easier
to produce end of year financial statements, and
we will liaise with your accountant on your behalf if
any of your previously filed information needs to be
corrected, or if you are behind with any of your
statutory filings.
Ultimately we want to save you time, remove stress and
help you to sleep at night knowing your financial data is
accurate and up-to-date.
Popular add-ons
Doing your books for you
Every business owner hates bookkeeping
and paperwork. Unfortunately it has to
be done. And it has to be done in a
prescribed format… otherwise the tax
authorities will be on your back. And
when done accurately it provides critical
financial information, key performance
indicators and aids decision making.
And because everyone hates
bookkeeping – you’d much rather be out
there making money from your business
most people end up doing it in the
evening or at weekends. Yet, shouldn’t
evenings and weekends be spent playing
with the kids, spending time with your
friends and loved ones, or out on the golf
course?
So why not let us take away all that
hassle so you can spend your time with
the people you love, doing the things
you love.
Doing your payroll for you
If you have employees you will need to
have payroll software set up and operate
payroll. Many of our clients choose to let
us run the payroll. Let us know if you’d
like us to take away that hassle for you.
Keeping on top of and
understanding your numbers
Management reports, forecasting and
budgeting help you plan and will give you
an early-warning signal if you are likely to
face cash shortages. Our management
reporting service is broken down into
three packages so you can choose the
one that works best for you. This service
will give you a continually up-to-date
complete picture of what your business
might look like in the future. In fact, this
is such a powerful business planning tool
banks very often insist on it as part of
raising finance.
“So why not let us take
away the hassle of
bookkeeping so you can
spend your time with
the people you love
Tsadik G Management
Count on TGM. We get it done right
Rockaway Beach Location
260 Beach 81
st
Street, Suite 3S
Rockaway Beach, NY 11693
(347) 619-2996
Rockville Centre Location
371 Merrick Road, Suite 305
Rockville Centre, NY 11570
(516) 566-2348
󰹑 www.CountOnTGM.com
info@countontgm.com
Professional Services For Businesses & Individuals
Management Consulting
Bookkeeping & Payroll Services
Financial Planning & Budgeting