Are you a small business owner looking to maximize profitability and drive value in your business?
While our Core and Advanced packages focus on compliance and financial insights, our Ultimate Package focuses on driving profitability and establishing long-term financial rhythms.
Wouldn't it be nice to know exactly where your money is going and how it’s working for you?
What is the Ultimate Package?
The Ultimate Package is our most comprehensive service offering, designed to help your business achieve maximum profitability and value. It includes all the services of our Advanced Package, with additional features focused on Profit First strategies, custom KPI tracking, and financial planning.
This package is perfect for businesses that want to grow, increase profitability, and prepare for future opportunities or sales.
Average Monthly Cost for Ultimate Package Clients
Our typical Ultimate Package clients pay around $2,200 per month.
Our starting fees are $1,950 per month, and for more complex needs, clients may see costs ranging from $2,500-$3,500.
Due to the extensive nature of the services provided, this package requires a minimum commitment of 12 months to ensure the strategies and systems we implement have a lasting impact on your business.
Factors Influencing the Cost of Ultimate Services
The cost of our Ultimate Package is influenced by several factors:
1. Volume of Transactions
The number of debit transactions, loans, credit cards, and bank accounts can impact the price.
2. Complexity of Books
Factors such as the number of bills, the detail required for those bills, and the need for inventory tracking can affect costs.
3. Frequency of Services
The regularity of the financial rhythms and assessments we conduct.
Initial Setup and Onboarding Fees for Ultimate Package
When you choose our Ultimate Package, there is an initial setup and onboarding fee, typically twice the monthly fee.
Onboarding fee = (Monthly fee x 2)
Depending on your specific requirements, this can range from $4,400 to $7,000.
The onboarding process includes:
- Profit First Assessment: Evaluating your current financial status and setting profitability goals.
- Business Valuation: Conducting an initial valuation based on your historical financial performance and market position.
- Initial Strategy Sessions: Documenting your goals, current financial processes, and specific requirements.
- System Setup: Ensuring that all necessary systems and software (like Dext, Bill.com, new bank accounts for Profit First, QuickBooks Online, or Restaurant 365) are properly set up and integrated.
Breakdown of Monthly Ultimate Services
The Ultimate Package includes all the services in our Core and Advanced packages, plus additional features designed to enhance profitability and business value.
Here’s what you get:
Core Package Services:
- Transaction Posting and Adjustments: Regularly posting, modifying, and adjusting transactions in your books.
- Reconciliations: Monthly reconciliation of bank accounts, loans, and credit cards.
- Depreciation Updates: Monthly updates to your depreciation schedules for accurate asset valuation.
- Financial Statements: Providing detailed financial statements, including health reports, executive summaries, key performance indicators, balance sheets, income statements, and trend analyses.
- Tax Returns: Preparing your sales tax, liquor tax (if applicable), and business entity federal and state income tax returns.
- Advisory Services: Regular phone calls, emails, and meetings to discuss financial statements, tax questions, and financial progress.
Advanced Package Services:
- Weekly Cash Flow Management: Collaborating on weekly cash flow to help you understand upcoming expenses and commitments, including a quickie cash flow update on projected available funds.
- Accounts Payable Management: Weekly processing and payment of your bills, tracking due dates, and managing vendor communications.
- Tech Integration: Providing Dext expense management and bill.com service for streamlined financial operations.
Additional Ultimate Services:
- Profit First Accelerator Program: Establishing a Profit First system to allocate and plan for every dollar earned, driving profitability.
- Initial Assessment: Determine current profitability and areas for improvement using the Profit First tool, with quarterly re-evaluations.
- Profit Dashboard: Provide a clear financial overview with a profit dashboard in addition to regular financial statements.
- Budgeting and Forecasting: Assisting with creating budgets and financial forecasts to plan for future growth.
- Customized KPIs and Target Reporting: Tailoring key performance indicators and reports to your business needs.
- Custom Scorecard Creation: Developing a custom KPI package to track and measure financial performance.
- Expense Analysis: Conducting an expense analysis to identify and eliminate wasteful spending.
- Debt Destruction Plan: Creating a debt destruction plan to manage and eliminate outstanding debts.
- Profit First Coaching: Ongoing collaboration to help you understand and implement the Profit First methodology, for you to build a disciplined financial approach.
- Discipline and Accountability: Develop a disciplined approach to managing cash flow, so you're always prepared for taxes and unexpected expenses.
- Valuation Updates: Regularly updating the valuation of your business to reflect financial improvements and market changes.
Advisory Services and Insights for Financial Progress
Our Ultimate Package is not just about managing transactions; it’s about providing control, discipline, and the system to drive improved profitability and maximize what your business is worth. We’ll work with you to make sure you understand the big picture of how that money helps your business grow. We offer:
- Regular Consultations: Scheduled meetings to review your financial progress, Profit First coaching, strategic tax planning opportunities and address any concerns.
- Patrick Academy Access: Exclusive access to Patrick Academy for monthly office hours on topics like running your business better, understanding your financials, and improving profitability.
Technology Integration and Management
Effective use of technology is a cornerstone of our Ultimate Package. We integrate and manage tools like bill.com and Dext to streamline your accounting processes. These tools help with:
- Bill Management: Automating bill payments and tracking expenses.
- Expense Management: Capturing and categorizing expenses for better financial oversight.
- Data Integration: Seamlessly integrating with your existing systems to provide a unified view of your finances.
Who is a Good Fit for Our Ultimate Package?
The Ultimate Package is perfect for businesses facing financial control issues and looking to significantly enhance their financial health and growth.
If you feel overwhelmed as your business grows, struggle to track where your money is going, or find yourself overspending on non-essential items, this package will help. It’s ideal for those who fear mismanaging their finances and want to establish better control.
If you have concerns about your business valuation and lack the systems to present your business to potential buyers, the Ultimate Package is designed for you. It addresses the uncertainty of business worth, helping you avoid overvaluing or undervaluing your business, which can lead to poor outcomes.
For businesses under financial pressure and frequently relying on lines of credit or payment plans, the Ultimate Package provides the discipline needed to manage cash flow effectively. It helps set aside money for estimated payments, reducing financial stress.
Who Might Not Be the Best Fit for Our Ultimate Package
While our Ultimate Package is highly comprehensive, it’s not the right fit for everyone.
If your business is struggling financially and can't commit to a 12-month engagement, this package isn't for you.
Because the Ultimate Package is designed for businesses with complex financial needs and strategic planning requirements, you probably don’t need this level of service.
We work best with clients who are open to new financial strategies and systems. If you prefer traditional methods and resist change, you might find this package challenging. Our approach involves regular collaboration and engagement. If you prefer a hands-off approach and aren't interested in working closely with our team, this package might not meet your needs.
This package is also for those ready to embrace the Profit First methodology and disciplined financial practices. If you're not willing to allocate resources toward building and maintaining a solid financial foundation, the Ultimate Package will not deliver the results you're looking for.
If this sounds like your situation, our Core or Advanced packages might be a better fit for your needs.
Ready to Build a More Profitable Business?
Investing in our Ultimate Package means gaining access to advanced financial insights and expert advice. This can help you make better decisions, improve your cash flow, and ultimately, grow your business's value.
At Patrick Accounting, we’re dedicated to providing the support you need to thrive. If you’re ready to take the next step and talk to our team to see if our Advanced package is the right fit for you,
Not quite ready to meet? Check out Who’s a Good Fit for Patrick Accounting to learn more.
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