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.
Designed to meet the busy schedule of the small business owner, this platform provides visibility and real time control to the business owner via any device connected to the cloud. Participation in the management platform is available for free to customer of Oxford Management Group, LLC. There are no one time or ongoing fees. Local businesses in Massachusetts and elsewhere can benefit from this management platform and improve productivity in their accounting processes.
“This Management system helps manage a critical aspect of the small business accounting process. Most of our customers were relying on home grown systems to manage historical and upcoming accounting tasks. This was clearly a challenge which caused confusion among the business owners, bookkeepers, customers and vendors. Additionally, it was a drain on their resources. With this simple to use cloud based platform, bookkeepers and the business owners have access to the real time information and are on the same page at all times. We have noticed a significant improvement in accounting process productivity and lower bookkeeping costs for our customers” said Ray Ratan, Vice President of Operations at Oxford Management Group, LLC
The engineering team designed the platform to be hosted in the cloud with three objectives: (a) highly scalable environment (b) minimal downtime and (c) fast loading content. With this foundation, additional modules can be added and customized based on customer requirements.
Oxford Management Group, LLC is a Massachusetts based bookkeeping services company providing full service bookkeeping for businesses across a variety of industries including non-profit, technology, software, retail, finance, construction, consumer services, manufacturing, Property management, Medical and others. Bookkeepers at Oxford Management Group, LLC are skilled in a variety of mainstream accounting software as well as industry specific accounting and billing platforms.
For more information visit www.omgstrategy.com
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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. Because Form W-2 is the only document used to transmit information regarding employees’ social security and Medicare wages for the year, it’s very important to prepare Form W-2 correctly and timely.
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, we serve businesses in many verticals and have found that our structured approach helps them save both time and cost. Additionally, we identify revenue increasing and cost reduction opportunities that help the bottom line of the business.
Cash is a precious commodity for every small business. The key elements that drain cash are:
Some of these payments have flexibility while others don’t. An efficient bookkeeper will identify areas of opportunity in payment terms. Leading bookkeepers have relationships with vendors that help them negotiate good terms for their clients. Oxford Management has helped many clients develop better payment terms. They have also helped develop fall backs for times of lean cash flow.
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. Oxford Management does a diagnostic that helps businesses forecast their cash needs during the cyclical portion of the year. This has helped businesses develop good credit ratings and meet their expenses comfortably.