As a whole sale or retail business, you represent the heart of the economy in the communities served by MLCFS, and you are a primary focus of MLCFS's accounting practice. Our traditional accounting services are tailored to help you operate as efficiently as possible, at minimal cost and with minimal disruption to your business. The accounting support we provide is designed for the small and medium-sized businesses that find it cost effective to outsource many day-to-day accounting and business office responsibilities.
Merchandising companies have to account for the sales side of things, including sales, sales discounts, sales returns and allowances, and cost of goods sold. Accounting for the sale of merchandise needs 2 critical pieces of information: 1) Revenue received from the sale and 2) recognition of cost of goods sold. The IRS at times challenges company's cost of goods sold not being reasonable. We are here to clean up your book to move expenses where they belong so your cost of goods sold account will be accurate before the IRS.
Because we have such long-standing relationships with businesses like yours, and because we listen, we understand your needs and concerns. We will work with you to determine the complement of MLCFS services that will best meet your needs, and we focus on achieving the results desired in the most cost-effective manner. We use the insight we acquire to identify ways for you to increase revenues, decrease expenses, and improve controls. Whether you need us to help you better manage growth, improve efficiency, or plan for the transition of ownership or top management when you retire, MLCFS is prepared to respond with expert accounting and consulting assistance. If you turn to MLCFS, you can expect results, including:
- a clear identification of opportunities for you to reduce costs or increase revenues
- more effective and efficient business practices
- income tax planning strategies that minimize tax liability and fully address business structure and reasonable compensation issues
- a business succession plan that is carefully developed and evaluated long before business succession becomes an issue