Ravenswood Studio had a “lumpy income” problem because they received large deposits from customers in advance of work. This made it hard to calculate the true profit and loss of their operations and determine whether they were profitable on any given month.
We created a true “accrual based” accounting process that measured profit on a monthly basis as well as per-job.
As a result, Ravenswood has grown more than 30% each year and used our part-time CFO services to guide and evaluate angel investments, SBA loans, property purchases, cash flow, operational efficiency and accounts receivable forecasting.