We have talked recently about outsourced CFO help as well as some of the reasons for outsourcing a small firm’s complete accounting function. By complete accounting function, we mean not only doing the books for a small business, but helping that business with budgeting, reconciliations, financing options as well as other strategic recommendations. A large company has a full accounting department to perform these functions but a small business cannot afford a full accounting department. Outsourcing the full accounting function can provide for all of those skills on an “as needed” basis or as some refer to it, “by the drink”. ReliAscent also has a group of partners that can be utilized in order to provide an even wider range of services to our clients. One of these partners is Federal National Commercial Credit (FNC2), a provider of working capital solutions to government contractors & other small businesses. I thought it might be good to talk about the importance of these partnerships, especially when it applies to a real-life situation. Recently, ReliAscent performed a number of services for a client of FNC2. FNC2 needed to verify their client had an adequate accounting system to support the amount of financing that the client was requesting. ReliAscent was able to go in and:
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