Blog and News

Oxford Management Group, LLC Announces Bookkeeping Management Platform

SHREWSBURY, Mass., Feb. 28, 2017 /PRNewswire/ — Oxford Management Group, LLC a Massachusetts based bookkeeping services company today announced the launch of its bookkeeping management platform. This platform incorporates corporate accounting frameworks in a cloud based device neutral environment. Built as an open source platform, it helps businesses organize all aspects of their accounting activities. The management system is built on an analysis of accounting activities that impact the business. Connecting to this platform provides transparency regarding ongoing accounting operations to the organization and the bookkeeper. It can be extended to customers and vendors as well. Additionally, it seamlessly integrates with a wide variety of accounting platforms.

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Cash management

Cash is a precious commodity for every small business. The key elements that drain cash are:

  • Inventory
  • Loans payable
  • Payroll
  • Vendor payments

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Accounts payable and the cyclical business

Many businesses have a significant amount of cyclicality. As an example, most retail businesses see a hockey stick increase in sales in the fourth quarter. This cyclicality puts special stress on the finances of the business. Most businesses can get good terms if they pay promptly. However, the purchases can be significant at the end of year. This requires special planning for accounts payable. 

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Business Accounting

Bookkeeping is a critical area that can add significant value to the success of a business. Large and medium sized businesses have full-fledged Accounting and Finance organizations. These departments ensure that the fiscal operations are optimally managed, all laws are complied with, profitable decisions are made and investors have access to financial information. At Oxford Management,

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Send out W2s

Provide W2s to employees by 31st Jan. IRS rule states that employers must complete, file electronically or by mail with the Social Security Administration (SSA), and furnish to their employees Form W-2 (PDF), Wage and Tax Statement, showing the wages paid and taxes withheld for the year for each employee.

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