Client Support Services
Business Accounting & Payroll
Business owners may not require full-time help or be able to hire the number of people necessary to handle the variety of skills required to provide adequate accounting support. Accurate accounting, reporting, and analysis are crucial however to making informed decisions and guiding a successful business.
Updegrove McDaniel McMullen & Chiccehitto, PLC’s (UMMC) Team has top-quality professionals with a wealth of expertise who will support your business’s accounting and reporting requirements at a level and frequency necessary to achieve successful results.
UMMC can help you with all accounting services including:
- Financial reporting, management & analysis
- Bookkeeping and general ledger maintenance
- Accounts payable, accounts receivable, and bank reconciliations
- Budgeting and cash flow management
- Sales and property tax return preparation
- Payroll and related Federal and state reporting requirements
QuickBooks Set-Up and Support
QuickBooks is an ideal accounting solution for most small- to mid-sized businesses. Updegrove McDaniel McMullen & Chiccehitto’s experienced team members are certified QuickBooks ProAdvisors. We will set up your accounting system for you and provide ongoing monthly, quarterly, or as-needed support.
Our certified ProAdvisors are glad to come to your office and work with you or members of your staff. Once QuickBooks Accounting is set up, UMMC can update and maintain your QuickBooks file by simply sending it to us via a password-protected email or through our secure web portal.
Your business may benefit from a trained professional who will evaluate your internal processes and provide an objective recommendation for improving your business’s operations to reduce that will reduce risk and increase profitability. Updegrove, McDaniel McMullen & Chiccehitto, PLC has experienced professionals who can assess your current operations and provide effective solutions regarding:
- Proper segregation of duties
- Appropriate authorization of financial transactions
- Routine review of transactions and accounts
- Security of physical assets and inventories
- Accurate documentation of policies and procedures
- Employee training regarding duties and level of authority
- Fraud prevention and risk assessment
Outsourced CFO Services include a variety of services needed by clients who do not have a controller or CFO on staff but want the value provided by those types of employees/advisors. Updegrove McDaniel McMullen & Chiccehitto, PLC can provide you with support at a level and frequency necessary based on your needs and resources.
Business Assessment & Strategic Solutions
Updegrove McDaniel McMullen & Chiccehitto, PLC (UMMC) developed a comprehensive checklist to assess your business’s strengths and identify areas that need improvement such as:
- Improving processes to create efficiencies
- Managing risk
- Establishing internal controls
- Compliance with Federal, State, and Local regulations
- HR and employee benefits
The business assessment reviews the five most critical metrics for success: liquidity, profits & profit margin, sales, borrowing, and assets.
As part of our service, UMMC works closely with you and provides strategic solutions that will improve your business’s performance.
Comparing your company’s performance to that of other companies in your industry can help you to identify areas of your business that need attention. If your competition is experiencing healthy growth and increased sales and your company is not–UMMC can provide the insight you need. We provide a report using your company’s financial data to compare performance to your industry peers.
This engagement can be done independently of other services provided by UMMC but when it is done in conjunction with the Business Assessment–we can provide valuable insight into areas of your business that need improvement so your business can thrive.
New Business Consulting
In business it is critical that you start off correctly with a solid foundation. Unfortunately, many business owners begin with a great idea but don’t have the time or technical knowledge to set up, implement, and maintain the practical, legal, and regulatory components of a business. UMMC can help. We put our business and financial insight and experience to work for you.
Updegrove McDaniel McMullen & Chiccehitto, PLC can help you make the right start-up decisions including:
- Creating a business plan
- Choosing the right entity type that will be most beneficial from a tax standpoint while limiting your personal liability
- Determining your capital needs and identifying sources of start-up capital
- Selecting and setting up the proper accounting software
Once initial decisions are made UMMC can help with implementation and ongoing support including:
- Developing processes and procedures that ensure efficient operation of your business
- Creating a reporting system to monitor and control costs and evaluate the progress of your business
- Preparing the application for your Federal and State Employer ID numbers and advising you of other licensing and permit requirements
- Assessing potential risks and recommending procedures to minimize risk including identifying your business insurance needs
UMMC has a broad range of resources at our fingertips to help you. We have established long-term working relationships with professionals in related areas who can work with us as a team for your business if/as needed.
Let us provide the tax, accounting, and financial strategic planning services you deserve.
5 Loudoun St. SW Ste. B
Leesburg, VA 20175
10 Rock Pointe Lane Ste. 3
Warrenton, VA 20186