If you’re in the retail business, you know it requires
specific accounting expertise.
Our team has experience in a variety of retail industries, including: grocery
stores, service, restaurants, spas, franchises and more.
Because of our retail
expertise, we can move beyond accounting to help you find a better way. For example, one of our retail clients was doing
front-end scanning of all inventory as it was sold and on its way out of the
store. But that same inventory was manually entered when it first came in. As
consultants to this $30 million retailer, we developed a software that scans
all the inventory in the back room as it comes in and submits that data
directly into their accounts payable. Now they no longer have to key in all
that information into their cost of sales.
As a retailer, you have to monitor your
margins very closely. The sad truth is, sometimes it’s your employees impacting
your profits. We can set up internal controls to help prevent theft and assist
in analyzing financial statements so you recognize missing funds.
Shannon & Associates can help you
improve and streamline your inventory control. We’ll evaluate your current
system and make recommendations, thereby helping you to fully know the impact
on your profits. Knowing your numbers will also mean streamlined
staffing—making sure you don’t have too many or too few people on the floor at
Restaurants have special accounting needs
Because it requires constant attention,
spoilage is a big concern for restaurants. Again, it’s about inventory control:
knowing how much you need or already have and when. By working with us as your
management consultants, you’ll gain an awareness of its effect on your bottom
line. Inventory control is probably not something you think about as much as,
say, what to put on the menu for next month, and it shouldn’t be—that’s why
we’re here. We’re the numbers folks, and when it comes to your margin analysis,
we’ll analyze every possible way to maximize your profits.
For more about our retail experience, get in touch.
Trusted Partnerships for peak performance.