Commonwealth Cash Management - A Primer
- 1. Commonwealth Cash Management-A Primer Personal Cash Management Copyright 息 2008 Commonwealth Cash Management
- 2. Introduction Background In the Beginning Who are our Clients? Client Characteristics Services Personal Cash Management Business & Non-Profit Bookkeeping Life Management Our Client Experience Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 3. In the Beginning Prior to our founding, we observed. An unmet need for high-quality Personal and Micro Business Bookkeeping services That these services were not widely available in a Professional form It was obvious, then, that An individuals bookkeeping needs were a function of lack of time or prioritization These services would not only serve the clients needs, but need to complement the work of their trusted advisors Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 4. Who are our clients? Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 5. Our Clients are Busy and Mobile Professionals Athletes and Entertainers Individuals and Families with substantial assets Business Owners and Entrepreneurs Seniors and their caregivers Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 6. Client Characteristics Our clients share the some of the following traits They have a busy lifestyle and want a professional to handle the details of your personal and/or business financial management They want to establish a budget and stick to it They need organizational help and someone to help with their trusted advisors They don't have the time or desire to perform regular bookkeeping or other financial tasks yourself They seek greater clarity into and/or control over your financial picture They have experienced or want to prevent fraud or theft Want to ensure all your bills are paid on time They need someone to pay their bills for extended periods of travel and don't want to fall behind with financial management or play catch-up with mail They have difficulty writing checks, opening mail or making telephone calls Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 7. Our Service Lines are Personal Cash Management Business and Non-Profit Bookkeeping Life Management Services Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 8. What is Personal Cash Management? Bill-paying (As Needed & Optional) Credit card management and bank account management Spending categorization and payee tracking Investment Tracking of investment and retirement accounts Bookkeeping of entities related to private investments Execution of Accountants or Financial Planners tax and other budget plans, cash flow management Bill review, tax document and paperwork organization Billed in an hourly, on demand, basis at $75 per hour Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 9. What is Business and Non-Profit Bookkeeping? Accounts Payable (Business Bill pay) Accounts Receivable-Invoicing and Billing Accounts Receivable- Statement(30/50/90 Aging) and Collections Calls Cash to AR Reconciliations General Ledger maintenance and support Bank Account Reconciliation Per Transactions Entries made to Merchant Services and Deposit/Transfer Journals and GL Management Sales and Marketing Analysis Sales Tax Tracking and Payments Vendor Analysis and Trend Reporting Payroll Processing and Employment Tax Bill review, tax document and Pay and File Services NEW! paperwork organization Time and Attendance Solutions Quickbooks Consulting and Compiling Preliminary Monthly Financial implementation by Certified Reports and Statements Quickbooks Pro Advisors速 Organizing Tax Records and other Billed in an hourly, on demand, basis paperwork for use by Advisors at $75 per hour Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 10. What is Life Management? Available only to our Personal Cash Management and Business Bookkeeping customers, our Life Management services help clients simplify the non-financial aspects of their lives Personal services Household services Contractor services/Owners Representative Errand services In-home waiting services Automotive and boat services Pet care Event planning Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 11. Our Client Service Experience Every client is assigned a CCM Client Assistant as their primary point of contact Each Client Assistant has a CCM Client Assistant Supervisor to oversee the accounting work and act as the liaison between the client and their advisors Each client will communicate with CCM via telephone, email, fax, in- person (if applicable) and via their compreshensive client portal at www.mycashmanageronline.com Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 12. mycashmanageronline.com, the CCM Client Web Portal Dedicated to our clients by user, and can include all of their entities Access can be granted to client contacts of CCM and pre-authorized Advisor to see all or some of their clients data Includes images of all reporting, bills, statements and other processing handled by CCM Secure, 128 bit SSL encryption hosted in Thomson-Reuters Tax and Accounting Data Center Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management
- 13. Conclusion Who is Commonwealth Cash Management? Who are our clients? What services do we provide? Single point to take away: That CCM has developed a defined, working, and proven process engineered to specifically address the messiness of personal and small business bookkeeping. Please review your clients for potential applications of CCMs services Thank you for your time and attention-we look forward to discussing your individual clients in more detail. Jeff Plakans Principal 27 Congress Street, Suite 210, Salem, MA 01970 T: 978-599-1050 | F : 978-744-1876 | M: 978-766-5406 jeff.plakans@commonwealthcm.com Commonwealth Cash Management-A Primer Copyright 息 2008 Commonwealth Cash Management