What is your typical process for working with a new customer?
We have an initial discovery conversation, getting to know the clients needs and goals, understanding the engagement and scope of work. We will then present a draft agreement for the potential client including terms and pricing for the desired services, for the client to review/comment/edit or suggest changes. After the agreement is signed, we start working on the project right away to insure deadlines are met.
Our goal is to keep customers after the initial project is complete. Therefore, we keep constant communication from the time of the initial conversation/ consultation and moving forward.
What education and/or training do you have that relates to your work?
A current CPA in VA, complying with the requirement from the VA Board of Accountancy on continuing education (CPE). Member of AICPA, and have an MSBA from San Francisco State University. Constant continuance of education through obtaining new certifications (i.e. Lean Six Sigma ) and as an educator for master level students at a local private university.
Do you have a standard pricing system for your service? If so, please share the details here.
Our pricing structure is very simple and can be altered to an individual client's budget. We provide:
- Hourly rates for specific timely projects (examples: auditing line item of financial statements, budgeting, or compilation of financial statements)
- Retainer Fees for monthly/quarterly services (examples: full bookkeeping/accounting monthly services)
- Combination of both retainer and hourly rates (example: performing monthly bookkeeping/accounting services and budget forecasts)
- Fixed service fees: (example : preparation of tax returns for individual or businesses)
Please see our website or an individual free consultation for specific pricing details.
How did you get started doing this type of work?
The professionals at EFMS have had the opportunity to work in the Finance and accounting profession for the last 20+ years. We have experience in the field working with a variety of different industries including; Corporate companies in IT, and Advertising, Hospitality. As well as, through the private sector in Real Estate and Law professionals. Lastly, and currently, through the Government Sector in contracting R&D and Healthcare.
The beginning of our CPA's career consisted of performing tasks such as; payroll, accounts payable, accounts receivable, general ledger, month-end closings, reconciliation of bank statements/ balance sheet accounts, and compilation of financial statements and reporting. The last 15 years has been focused on serving as; a financial Controller, Director of Finance, and Interim CFO for small to mid-size companies. In addition, we seek involvement in financial analysis and budgeting, financial forecasts and business strategies, tax compliance and auditing for firms, other professionals and government entities such as the ones listed above. Our CPA supports their line of work with a strong completed education of (MSBA) and licensing (CPA). While constantly continuing education with certificates and as an educator. We enjoy helping and providing owners and entrepreneurs with quality services.
What types of customers have you worked with?
We have worked with variety of customers in different industries including: Communications, Information Technology, Real Estate, Law Professionals, Hospitality- Hotel Management, corporate chains, and restaurants, Marketing and Advertising companies, Government Contractors, and smaller firms in the service industries of: Construction, Energy Remodeling, Plumbing and Electrical, and home Cleaning Services. I use the CPA standards to complete all work from a financial standpoint, while considering the individual client needs and goals for the assigned project at hand.
Describe a recent project you are fond of. How long did it take?
Edge Financial was approached three years ago, through Thumbtack, by a local DC telecommunication company that was desperate to reorganize and locate their financial records they previously had kept outsourced over seas.
As a result of the outsourcing, the accounting records and database system suddenly became unavailable. The firm was left with only hard copy, papers and spreadsheets as records for the last 4 years, leading up to the current fiscal year.
We took over the project in July of 2016. We cleaned up and organized their records, set their books up and establish a new accounting system where they could access them at any time and from any location. We did this through the reproduction of their prior years records, and compiling their financial statements to match their tax records. The new system allows the firm to internally properly record and access their accounting records in a timely matter that is up to date and reflects the current financial position of the company the given day. We took this further by doing the firms taxes year by years so they could comfortably keep all financial data, in house. EFMS proudly continues to serve the client today, and are happy to support their efforts of expanding and growing their business through new investment ventures.
What advice would you give a customer looking to hire a provider in your area of work?
After receiving the bid for your work, have a conversation with the professional and see if you feel comfortable working with him/her on a personal and representation level. Include a discovery/consultation conversation with the professional to evaluate that you feel confident that the professional will perform the tasks on time, accurately and in compliance with the laws. Insure that the price structure that has been offered is in your budget, and you see the value the professional adds to your business. Ask for a written agreement that includes the price structure, terms of delivery on the services provided and the length of the agreement between you and the professional. Ask about anything you do not understand or want to feel more comfortable with.
What questions should customers think through before talking to professionals about their project?
- Do I have all the facts and documentation to present to the professional to make him/her understand my particular situation?
- Has the professional performed relevant work before? Or, am I confident that they are capable to perform the project?
- Does the professional demonstrate the ability to complete work in a timely and concise manner? Can I hold them accountable for the services he/she will provide?
- Does the cost of services fit my budget?
- Is the professional flexible in price and timing?
- Is the engagement letter/agreement unbiased between the client and the
- Is the professional easy to work with? Can I talk to him/her on the phone? Or meet to him face to face (if needed)? Do I feel comfortable sharing financial data with this person?