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Professional Services

Access real-time reporting.

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As professional services firms evolve and broaden their client base, managing their financial operations can become increasingly complex. Firms often grapple with challenges like achieving real-time reporting, forecasting cash flow accurately, and devising effective budgeting strategies.

Receive weekly cash flow reports.

At Notion CFO & Advisors, we’re here to ease the burden. Access weekly cash flow reporting, prompt month-end financials, development of key performance indicators (KPIs), and expert assistance in budgeting and evaluating financing options. Our approach equips firms with the critical insights needed for informed decision-making and effective financial management.


Frequently asked questions.

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Cash accounting records revenues and expenses when cash is actually received or paid out. It’s straightforward and gives a clear picture of how much cash your business has on hand.

Accrual accounting, on the other hand, records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur. This method provides a more accurate picture of your company’s financial health, as it includes accounts receivable and payable.

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Professional services firms can explore various funding solutions including traditional bank loans, lines of credit, invoice financing, and SBA loans. The right choice depends on your cash flow needs, the purpose of the funding, and the financial health of your business. 

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Yes, we can help break down and analyze the costs associated with software, hardware, and installation/implementation to better understand their impact on profitability. This involves assessing direct costs, overhead, and the revenue generated from each segment.

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The standard time for preparing monthly financials typically ranges from a few days to a couple of weeks after the end of the month, depending on the complexity of transactions, the efficiency of your accounting processes, and the capabilities of your financial team. Implementing streamlined accounting software and practices can significantly reduce this timeframe.

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Capitalizing software development costs involves recording these expenses as an asset on the balance sheet and amortizing them over the software’s useful life. This method removes expenses from the income statement during the development phase, leading to higher short-term profit or EBITDA. This adjustment results in a gradual impact on financial statements.

Expensing these costs as incurred results in immediate recognition in the income statement, impacting profits directly and potentially leading to profit variability. 
The choice between capitalizing and expensing is based on a company’s financial reporting policies and should align with overall financial strategies, influencing critical financial metrics and compliance with accounting standards.
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