New and happening in 2021! 

Its been quite some time since we have updated our Wexus Words. 2019 was pretty much business as usual. 2020 was a crazy year with much uncertainty with the pandemic, we would like to move ahead positively… and step by step, we will get back to business as usual.

A note from Alan Weichselbaum, CEO, below, an update on relief funding….

Hi Wexus Cleints:

Hope that this email finds you all well. In the last few weeks there have been changes to this law and now all aspects seem to be clear. Originally the credit was not available if you received a PPP loan. However, that is now changed. Even if you got the PPP loan you can still get this credit. The credit is determined per employee based upon those employee’s wages. The maximum wages are $10,000 per employee and you receive a 50% credit against those wages.  For example if an employee earns $50,000, you only get a credit on $10,000 of wages.

The law requires that you had a full or partial shutdown of business or quarterly gross receipts in a quarter of 2020 which were less than 80% of 2019 gross quarterly gross receipts. An additional restriction is that the credit cannot be used for wages that were paid for by PPP loan proceeds. Therefore, if you paid wages with PPP funds in Q2 and Q3 of 2020, those wages can not be used to calculate the wages applicable for the credit.

The credit for 2020 is obtained by amending your quarterly payroll tax return. That needs to be done by your payroll processing company. I have personally spoken to ADP and gone through the process with them. It is fairly straightforward. While you are speaking with them, also ask about 2021 since the credit has been extended to 2021 Q1 and Q2. The payroll company can set up your payroll so that you don’t have to pay these taxes in Q1 and Q2.

Please let me know if you have any question but be advised we at Wexus cannot speak to the payroll company on your behalf since they will need to hear from the owners or administrator on record.

Let us know if there is anything we can help you with regarding this matter or any other issue.

Have a great day.

The team at Wexus.

A Year in reflection and whats to come in 2018!  

  Team Wexus The purpose of our newsletter is to provide readers with insight into the current business climate in which we are operating. We will talk about the work we are doing with our clients and the trends that we are seeing. We believe that this will allow readers to better understand our capabilities and in turn give us opportunities to work together.

Our company is in its seventh year of operations. Our mission is to help small businesses that are in various states of flux. Some companies require crisis management, where cash flow is tight and company management needs to take drastic steps in an effort to stabilize their businesses. In these instances, we can provide financial management tools to hold creditors at bay and provide solutions to get the business on stronger footing.

At the other end of the spectrum, certain companies are going through rapid growth phases, and the management team is not equipped or prepared to manage this expansion. Our professionals can go onsite and provide the leadership and management skills to help the business navigate during this phase.

Please check out our revamped website, wexusllc.com, and our LinkedIn and Facebook Pages!

We hope you enjoy our newsletter and, as allows, we look forward to your feedback.

WHAT’S NEW AND HAPPENING:

The 2017 Holiday season is in full stride! It has been quite some time since we have issued a newsletter. What a perfect time to post something now and reflect on this past year and anticipate this year’s coming changes! Happy Chanukah! Merry Christmas! Season’s Greetings! Warm wishes to you all from the Wexus Team this Holiday season.

We have some new additions to the Wexus Team, Aviva Lachman and Daniel Weichselbaum. You can read their bio on the Wexusllc.com website.

New Year’s Resolutions for Your Business and How a Budget Will Help You Keep Them

As we approach year-end, this is an opportune time to review your business’ financial state over the last few months and think about how you can improve your bottom line in 2018.  Outline your business goals for the New Year; how do you intend to increase your sales and to reign in your expenses?  Come up with a few objectives for your business and commit to attaining them.  These are your New Year’s resolutions for your business. 

But New Year’s resolutions are only as great as your dedication.  The statistics are pretty abysmal with only 8% of those who make resolutions following through with them all the way to next December. 

So how do you prevent your business goals from going the way of last January’s diet, exercise routine, and pledge to play the saxophone like a pro?  Enter the budget.  A budget is a written plan for the coming year of your financial goals in terms of revenue and expenses.  Creating a budget will force you to actually consider each line item on your financials and whether there is anything you can do in that area to improve your bottom line in 2018.  Once you have your budget, you can review your progress monthly and see how your actual numbers compare.  Each month you’ll ask yourself these questions:

Did I reach my target revenue?  If I reached or exceeded it what did I do right so I can keep doing the same thing?  If not, what can I do differently in the coming months to increase revenue?

Did I spend what I thought I would in each expense category?  If there were any major fluctuations why was that and how can I prevent a reoccurrence next month?

We approach the New Year as a fresh opportunity to succeed in all areas.  We tend to come out of the holiday season with boundless hope and an optimistic vision of what we’ll achieve this year.  A monthly budget variance review is a chance to retrospect and check in on how you are measuring up to those lofty goals.  You can use it as a chance to regroup and reconsider how you will maintain your business New Year’s resolutions on a monthly basis.

Here at The Wexus Group, we are ready and available to assist you with the budgeting process both now and on a monthly basis.  Just as a life coach can support you with the maintenance of your personal resolutions, consider us your coach in that big part of your life called your business!  Reach out and let’s set up a time to get your budget down in time for the New Year. 

Here’s hoping we can keep those resolutions for all 365 days of 2018!

Some “in-the know” information to prepare for this coming Tax Season

  The tax reform process continues to move forward with unprecedented speed.  Congress is on schedule for their expected enactment of The Tax Cuts and Jobs Act on or before December 22nd. 

On November 28th, the Senate Budget Committee voted 12-11 to send the bill to the full Senate for its consideration.  And, in the very early hours of Saturday, December 2nd, the full Senate approved the bill, which included many last minute amendments.  The vote was 51-49, with all Senate Democrats and one Republican voting against.

The bill is now being considered by a conference committee, which is addressing differences between the House and Senate approaches.  Once there is agreement on a total bill, votes will be taken by the House and Senate on the final language, and if approved by both the bill will be sent to the President for his signature.

Many changes are expected to affect our clients, including the following:

1) Lowering the tax rates for corporations, pass-thru entities such as LLC's, and individuals

2) Minimizing itemized deductions for mortgage interest, state and local income taxes, and property taxes

3) Removing the individual personal exemptions, but increasing the standard deduction to $24,000 for married taxpayers.

4) Increasing the child tax credit

5) Accelerating depreciation on residential and non-residential property to 25 years.

Depending on the each individual or entity's tax situation, these changes could have a substantial impact, for better or for worse.  Please stay tuned for the final version of the bill, and please contact us with any questions  

These tax changes will be effective January 1st, 2018.

Happy Holidays 2017 From Wexus!

Happy Chanukah! Merry Christmas! Season's Greetings! Warm wishes to you and yours this Holiday Season.Our 2017 year in reflection newsletter will be following shortly. Stay tuned!

What's happening this Spring 2016  

TEAM WEXUS The purpose of our newsletter is to provide readers with insight into the current business climate in which we are operating. We will talk about the work we are doing with our clients and the trends that we are seeing. We believe that this will allow readers to better understand our capabilities and in turn give us opportunities to work together.

Our company is in its fifth year of operations. Our mission is to help small businesses that are in various states of flux. Some companies require crisis management, where cash flow is tight and company management needs to take drastic steps in an effort to stabilize their businesses. In these instances, we can provide financial management tools to hold creditors at bay and provide solutions to get the business on stronger footing.

At the other end of the spectrum, certain companies are going through rapid growth phases, and the management team is not equipped or prepared to manage this expansion. Our professionals can go onsite and provide the leadership and management skills to help the business navigate during this phase.

Please check out our revamped website, wexusllc.com, and our LinkedIn and Facebook Pages!

We hope you enjoy our newsletter and, as allows, we look forward to your feedback.

WHAT’S NEW AND HAPPENING 

Wexus has brought on five new clients and we are now currently working with 48 different companies that have a variety of background, size, product, personality, and service needs. However, all these companies have in common the need for our Accounting and Tax team expertise and whatever the matter may be, we can successfully assist, organize, and get the job under control.  The success of our clients has grown as well, due to the fact that they can focus on what really matters; their business, sales, and operations.

Shara Sita has now taken a focus back into her specialty of Client Relations, so she will maintain and assess current clients’ needs while she assists our new on-boarding clients. We have also added a new Accountant, Bracha Frank, to the team. Her recent experience will be an asset to our clients’ and for Wexus. Please give her a warm welcome! She can be reached at bfrank@wexusllc.com.

The Wexus Team is here for our clients and since we are multi-tasking all-stars, there is not a situation we can’t handle. We have engaged in personable relationships with our clients and we think of it as helping out and advising a friend and colleague. We depend on a good word-of-mouth and referral from them, so we strive in excellent customer satisfaction and being readily accessible. In most cases, it is a win-win for all parties.

“Our mission is to help small businesses that are in various states of flux.” – Wexus Team

KEEPING & GAINING CLIENTS IN THE CURRENT ECONOMY

As we all have seen as of late, our current economic status is lacking a bit of stability and strength and has plateaued, even declined. How do we keep our clients versus the competition and how do we win new business? What does seem a bit stable and strong is the anxiety this economy has caused for small businesses, and for us as individuals. I can say for myself here at Wexus, the focus is on getting back to basics and going back “old-school” – focus on customer service and what we can offer our current and new clients versus our competition. Good, old-fashioned, maybe with an “Old-fashioned” cocktail, customer service is where it’s at!

If anyone is familiar with the AMC TV show “Mad Men”, you know the good old-fashioned customer service I am talking about. In the 60’s era, it was popular to have cocktails as a part of a lunch or a dinner meeting and was in a sense like a truth serum in order to get to the nitty-gritty, no-holds barred issues at hand. Getting face to face with your clients, sitting down with them, checking in, seeing how they are doing and  what we can do to help, what we are doing right, and most humbly, what can we do as a company to improve our services? This is the resurfacing trend that is again becoming more popular. I don’t mean having these long drawn out cocktail lunches, where the drinks become a dependent like they did on the TV show, however this approach was great at fostering relationships. Depending on the client personality, maybe it’s not all that bad, but I  do think that bringing back the more personable meetings, being able to break the ice, holding luncheons and/or dinners, allows us to really sit back, relax, and open up to one another. Every relationship, business and personal, always needs maintenance. I think it brings a different element by making it a point to not always talk business and not taking ourselves so seriously.

Hopefully with this post, I have proven my said point above– make it interesting, make it fun, and shake things up! Set yourself apart from your competition by giving yourself an edge, becoming more approachable, being a little more fun, and having a sense of humor ;) With that being said, to our current clients, feel free to reach out to us as you normally do. Or if you feel like it’s been a while since we have sat down and reviewed and discussed your account and needs, please let us know and we can schedule something soon.

Cheers!

“Get back to basics and focus on customer service and how we can better our relationship”

MIDSUMMER UPDATE JULY 2015

TEAM WEXUS The purpose of our newsletter is to provide readers with insight into the current business climate in which we are operating. We will talk about the work we are doing with our clients and the trends that we are seeing. We believe that this will allow readers to better understand our capabilities and in turn give us opportunities to work together.

Our company is in its fifth year of operations. Our mission is to help small businesses that are in various states of flux. Some companies require crisis management, where cash flow is tight and company management needs to take drastic steps in an effort to stabilize their businesses. In these instances, we can provide financial management tools to hold creditors at bay and provide solutions to get the business on stronger footing.

At the other end of the spectrum, certain companies are going through rapid growth phases, and the management team is not equipped or prepared to manage this expansion. Our professionals can go onsite and provide the leadership and management skills to help the business navigate during this phase.

Please check out our revamped website, wexusllc.com, and our LinkedIn and Facebook Pages!

We hope you enjoy our newsletter and, as allows, we look forward to your feedback.

WHAT’S NEW AND HAPPENING During the summer months, certain businesses get a chance to wind down a bit. For us here at Wexus, it is a nice transition from the busy tax season– we get to reflect and re-group on our performance as a whole.

Even though summer months deem to be a bit on the slow side, we have not skipped a beat and have picked up a few new clients! With more clients added, we have added summer interns to our team, as well. Go Team Wexus!

We are now currently working with 39 different companies that have a vast range of background, size, product, personality, and service needs. However, all these companies have in common the need for our Accounting and Tax team expertise and whatever the matter may be, we can successfully assist, organize, and get the job under control.  The success of our clients has grown as well, due to the fact that they can focus on what really matters; their business, sales, and operations.

The Wexus Team is here for our clients and since we are multi-tasking all-stars, there is not a situation we can’t handle. We have engaged in personable relationships with our clients and we think of it as helping out and advising a friend and colleague. We depend on a good word-of-mouth and referral from them, so we strive in excellent customer satisfaction and being readily accessible. In most cases, it is a win-win for all parties.

REVIEWING YOUR BUSINESS ACCOUNTS As mentioned in our previous newsletter, in order to remain a successful business, you must always be in the know of the money your business makes and spends.

One of our initiatives is to review your account funds, check your profits and losses and to make sure you understand your balance sheet and how your money is being accounted for.  By establishing a financial structure, you can better understand your capital, what you have earned, and what your expenses are.

Along with reviewing your accounts, we also review what tools and platforms you are using. We research what will work best for your company and what is the most efficient way to use these assets. The implementation process will be streamlined and set in place by our associates. We believe that they are great sources for each individual company and we strive for a meaningful increases in transactions.

Additionally, due to our strong managerial expertise, our clients believe that our ability to remain involved in the management process will be a benefit in their business growth and success.

RE-BRANDING YOUR BRAND As we see too many times in businesses, they have established themselves in a particular niche and branded themselves as “thee” company “in that” service. You may find yourself asking…How do you re-brand yourself? How do you go about marketing yourself when it may seem that every media facet is overexposed and still does not hit a target? How do you go about Brand Awareness?

Currently, we are assisting companies that have trended down over the past few years. The owners have not kept up with technological advances, market and social trends, and as a result, competitors have surpassed them. We are in the process of putting together a strategic plan. The plan calls for, simply, back-to-basics marketing. What is needed is a marketing manager who is a field focused, young and trend savvy individual to hit the pavement, pass literature, be animated and excited, and talk about your company as if it’s brand new. Basically, “Re-Brand” yourself.  Burn your Brand in your audience’s mind.

Make a lasting imprint. Give your company a facelift per-say with a new name, a hybrid company, logo or slogan. What impression do you want to leave? What expectations do you want to shape? Wexus can help you come up with answers and solutions.

Account strategy, brand management, and digital marketing are growing and jobs are in high demand.  In order to re-brand, an individual face of the company must Brand themselves. How do you sell yourself? Would you hire current “you” to your “new “company? Look at self-branding and marketing geniuses, Madonna, or to the current millennial, Lady Gaga -for Pop Culture reference. In the financial world – Look at Shark Tank’s Mark Cuban, who has re-branded himself 10 fold and is a super success. He has gained a competitive advantage by having many facets.

Some common questions we get from our clients:

Q: We do not advertise and our customers all know about us. Why would we need to develop a brand?

A: As long as the new products and services you introduce are at least up to the standard of your existing offerings, it becomes a great deal easier to launch new branded lines.

Q: What are advantages of building a brand or re-branding?

A: Gain competitive advantage, stimulate growth, long-term market expansion, profitably, to name a few.

ABOUT US The Wexus Group strives to provide business solutions to companies during critical moments in their corporate life cycle. Whether companies are in a state of financial crisis or experiencing unprecedented growth, our team of professionals can apply their expertise in multiple disciplines to assist companies in addressing their business issues. Our firm prides itself in its quick response and our ability to tap into a broad network to bring big corporate expertise and solutions to small businesses.

The Wexus Group boasts over two decades of financial expertise. Our primary objective is to help businesses that are in transition. We manage a wide array of businesses from all different scales, backgrounds, and services. Businesses are always in a state of flux, and as such, are either growing or contracting. In most cases, small businesses do not have the manpower to navigate those processes; our firm will help companies manage those "growing pains". Large businesses can lose direction and get lost in transition if and when it is not organized.

We can implement systems and controls to more effectively administer cash flow. We can introduce marketing and business development strategies to improve sales. We will bring facilities expertise to aid in growth or contraction plans, and to audit and examine vendor contracts and relationships to help reduce costs. In any case, we can find and execute a stream lined plan for any business, at any state.

Wexus attends parnassah expo 2015

03/18/2015

The Wexus team exhibited our booth at this year's Parnassah Expo at the NJ Convention and Expo Center. It was a great event that essentially provided a hub for small businesses and entrepreneurs to meet and greet with one another. The attendees were able to meet with few members of the Wexus team along with our CEO Alan Weichselbaum. They were able to learn what it is we do and provide some insight on our services. We gave some Wexus t-shirts as gifts as well.

Some other highlights from the event were some of the presenters and seminars that took place, but standing out was Charlie Harary of H3 Advisory he did not let anyone down with his inspirational words and talks in regard to future innovators. Women in the Workforce also stood out giving their view points in the current business trends and dynamics. Overall it was a pleasure to be there and look forward to next year. 

Welcome 2015!

01/12/2015

The purpose of our newsletter is to provide readers with insight into the current business climate in which we are operating. We will talk about the work we are doing with our clients and the trends that we are seeing. We believe that this will allow readers to better understand our capabilities and in turn give us opportunities to work together. Our company is in its fifth year of operations. Our mission is to help small businesses that are in various states of flux. Some companies require crisis management, where cash flow is tight and company management needs to take drastic steps in an effort to stabilize their businesses. In these instances, we can provide financial management tools to hold creditors at bay and provide solutions to get the business on stronger footing. At the other end of the spectrum, certain companies are going through rapid growth phases, and the management team is not equipped or prepared to manage this expansion. Our professionals can go onsite and provide the leadership and management skills to help the business navigate during this phase. Please check out our revamped website and our Linkedin and Facebook Pages! We hope you enjoy our newsletter and as allows we look forward to your feedback. 

Tax Season... its back!

Yes folks that dreaded time of year is back…again. It is reported that this year is the worst tax season in the past 30 years. That’s funny, I thought every tax season was the worst and they definitely say that every year. Either way, as long as you are prepared appropriately, have gained knowledge and experience, it really is not that awful. A notable difference however is The Affordable Care Act (aka Obamacare). This is the first year that reporting on health insurance is required on tax returns. For most individuals, the new law will not change their taxes if they have employer provided health insurance. However, the other 20%, yes it will change their tax return.

Another change is the new IRS Property Capitalization Regulations. This will impact anyone who owns, leases, or produces property and if you have or do the following: manufacture anything, have a depreciating business, or own rental property. Basically if you file a Schedule C, E, or F or a business return, you will likely be impacted. But not to worry. We are up to speed with these changes, and the tax team here at Wexus can get all of your necessary information gathered, documented, and filed accordingly. Basically, we do all of the field work for you so all you have to do is focus on your business and what you do best.   

Reviewing your Business Accounts 

As mentioned in our previous brief, we want to mention some of the services we offer our clients. As the New Year is rolling out in full force, businesses first task at hand is to reevaluate their financials, accounting, and procedures. In order to remain a successful business, you must always be in the know of the money your business makes and spends. 
Many of our clients have put their confidence in us acting as their entire accounting department. This allows them to focus on their business more efficiently, where as before, it was taking their time from sales and performance. We are able to accommodate for a number of tasks such as accounting, budgeting, analysis, bill pay, banking reconciliation, and taxes. This saves them money being that we are under one roof and allows them to see the big picture of their company and have a streamlined process.  

One of our initiatives as your acting accountant is to review your account funds, check your profits and losses and to make sure you understand your balance sheet and how your money is being accounted for.  By establishing a financial structure, you can better understand your capital, what you have earned, and what your expenses are. Along with reviewing your accounts, we also review what tools and platforms you are using. We research what will work best for your company and what is the most efficient to use and up with us. The implementation process will be streamlined and set in place by our associates. We believe that they are great sources for each individual companies and we strive for a meaningful increase in transactions.
Additionally, due to our strong managerial expertise, our clients believe that our ability to remain involved in the management process will be a benefit in their business growth and success.

Making Room for Millennials A trend we are seeing is that many of these baby boomers have run businesses and have no succession plan in place. Millennials are now in line for the marketplace and business. They offer a fresh and unique vision and tactic in perfecting the proverbial wheel. Currently, we are involved in two separate engagements that center on this issue. In the first, the owners want to sell. However, the business has trended down over the past few years. The owners have not kept up with technological advances and, as a result, competitors have passed them.

We are in the process of putting together a strategic plan. The plan calls for either an outright sale of the company or the hiring of younger managers   (millennials) who can infuse the company with new energy. Management is evaluating the two alternatives. Account strategy, brand management, and digital marketing are growing and jobs are in high demand.  These almost come second nature to a millennial as they are born into and raised in the social media and Facebook age, where cell phones cannot be without hand.  The plan will expand the brand into new products and build brand value. Millennials want to imprint their mark on society with these brand facelifts. We believe the value and salability of the business would be significantly enhanced.

Way too Cyber Connected

The world has become a much faster place. Thanks to the internet, data is just a keystroke away. The ability to access information has dramatically shaped the competitive environment. Perhaps the most powerful marketing tools available are via Google searches and social media outlets such as Facebook and Twitter. 

Small business owners are now facing challenges they never had in the past. Older companies have had to adapt, but unfortunately do not have the skill set to manage the information overload. Many of our clients  are looking to us to help in that process. They are looking to mainstream reporting data and are requesting tools to improve their online marketing efforts. They need an outsourced solution because it is an area that they lack expertise and realize how vital it is for their businesses.

Some other highlights from the event were some of the presenters and seminars that took place, but standing out was Charlie Harary of H3 Advisory he did not let anyone down with his inspirational words and talks in regard to future innovators. Women in the Workforce also stood out giving their view points in the current business trends and dynamics. Overall it was a pleasure to be there and look forward to next year. 

How do i obtain a small business (sba) loan?

01/12/2015

This is the first amongst a slew of questions in regard to getting an SBA loan. Second is what information do I need to start gathering and from where? If you are organized and in educated with loan basics, this can be pretty easy to put together, if not, there could be a few challenges. These days, it appears to be more and more difficult to get a loan processed, it’s daunting and most don’t even know where to begin. The team here at Wexus can surely assist in preparation and provide a few key tips to apply for a small business loan.

Different banks look for certain criteria when making an SBA loan. They may have different standards, but in general, in order to consider your application for a small business loan, banks will require, most importantly, that you show profits in each of the last 3 years. This can be reduced to 2 years for a start-up company. Your personal credit score must be strong. Banks will look to the owner’s score when assessing the loan. Even in strong businesses, we have seen banks reject loans when the owners have poor credit scores. So, you, and your business partner(s) should have a good background, have experience and good personal and/or business credit history, and most importantly the ability to pay back the loan. Having strong collateral is very important. In general, you will need personal and business credit history, personal and business financial statements, projected financial statements, business model, cash flow projections for at least a year, personal assurance, and your loan must be for a substantial business purpose.

We are currently assisting a few of our clients, ranging from different sizes, in getting an SBA loan. The amount of the loan varies depending on what they’re aiming to achieve. We gather all of the necessary documents on their behalf, with cognition of their goal. We research different lenders, banks, find out what they exactly need to have to make the loan happen, and ask all the right questions to make the process as seamless as possible. Once we get this, we inform them and assist them in making an intelligent decision, for them and their business. Our goal at Wexus is to see our clients strive in their present and their future, and to help get them there, we assist in every step and any way possible. 

What do I need to do to prepare for tax season?

11/20/14

Ah… Here it is. That dreaded time of year. Tax Season. We all know it is such a time consuming thing to prepare for and knowing what is needed to file is essential in ensuring they are properly filed and most importantly, you get the most back for your tax return!

Wexus provides tax preparation services to our clients and we start the process as early as possible. By following a few of these tips, you too can get a motivated and well ahead of the game!

You should save each and every tax form that arrives in your mailbox (regular snail mail or e-mail). Most employers can send electronic copies directly to your email so you don’t have to wait for them to arrive. Also, this can be helpful if you have moved and forgot to notify past vendors or employers.

 Are you going to use software and file yourself? Are you going to do it manually? Are you going to use a preparer? (Wexus recommends to use a preparer – like us- so you can get the most from your tax return and get a better understanding of what you are claiming).

If you think you need an extension, file for it. If you need an installment agreement, file for it. If you need your preparer to manage the filing, file for a Power of Attorney. Get those forms ready and all your ducks in a row so you don’t have to worry about any hiccups down the road and ensure smooth sailing. No one wants to wait for over an hour to speak to an IRS agent over the phone and then find you cannot get anywhere because you do not have the proper forms on file. Believe me from experience, it’s a lot of time spent, a lot of back and forth, and can be very frustrating to play the waiting game!

Please contact us here at Wexus to get you on fast track for this year’s tax returns!

How do I organize my finances?

Where to start and where to look to gather your financial data.

11/04/14

If you're going to get your finances in order, it's best to do it when you have some genuine distraction-free time, unless you're someone who thrives in chaos. So send everyone away, don't check your email, turn off your phone, clean your desk and locate your financial documents. But in reality, who has the time to any of that? Well… the team here at Wexus does.

We know where to gather these documents, how and what to separate from business and personal, and how to keep your records straight. We optimize and integrate a platform solution that is a suitable structure and tailored to you; from personal, small business, to corporate. With our in-house CPA, we are readily able to assist with your financial analysis and discuss a long-term strategy.

We recently assisted one of our clients in getting their financials cleaned up. We implemented a Cloud platform, incorporating Quickbooks in order to keep their records straight and tax efficient, so when tax season arrives, they are not gathering these items last minute. We walk them thru the functionality of the platform, where to organize and store files, how to run reports, and record financial data so we can run a full analysis each month to really get a sense of their financial goals. We were able to free up their most important asset - their time. Now they can focus on other aspects of their business; growth and success

How should I merge and transition my financial information and services?

How to transition to a company into a new structure and financial platform.

10/23/14

Here at Wexus, we like to consider ourselves a 1 stop shop. We have a team that consists of accountants, tax reps, legal counsel, bookkeepers, and analysts. With that being said, this can be the most cost efficient solution to your company while still providing the most effective and custom solutions to your financial needs. We analyze what your methods are and what is working and what is not working. Most of the time it starts with organizing data, noted from pour last blog post on “Get Organized Now”, into a simplified and user friendly platform, such as Quickbooks.

We recently brought aboard a company that needed a complete overhaul, from gathering documents, statements, bank info and organizing and uploading this data into a Cloud drive. Account administrators from the client side and Wexus were given access to manage these accounts and keep them up-to-date. We merged existing information into the new platform and ensure that all financials are up to date. With this solution fully integrated, they have been on point with their month to month financial records and information.

This can be very tedious in the fact that each item has to be entered one by one, and most people are unable to dedicate their time to do so. We, on the other hand, are able to provide this solution that does this quickly while still being detailed and everything is accounted for. We ensure that we cover all bases, as a 1 stop shop is supposed to do.  

Is it important to get a monthly check-up of my finances?

Keep up to date with your financial standing.

10/18/14

Every business owner should know their numbers. A financial check-up is just as important as getting your annual physical with your doctor. But what numbers do you know to look for and where do you begin to look?

Wexus provides this service for you; a reader friendly monthly statement so you can make effective, informed decisions by knowing your numbers. We put together a core report that includes a profit and loss statement and a balance sheet, customized to your exact needs.

To make sure that they are on point, we provide a monthly statement of the account to ensure that everything is recorded properly; all invoices, charges, payments, as well as extra services of Profit and Loss and Balance sheet to know their financial standing. We review your finances with you to identify strategies to improve your "financial fettle" and examine your accounts for any possible issues. 

How Do I Know When I Need a Forensic Accountant?

10/12/14

One of the most common needs of our clients is forensic accounting. They have experienced one of the following: a perceived loss, an actual loss, or the risk of loss; whether with accounting data, documents, or monetary funds. Most do not have the time, or the experience, to look for or prevent fraud, loss, or inaccurate account reporting, especially dealing with missing invoices and banking discrepancies.  There is nothing more relieving than reconciling an account and knowing that all of your data has been properly recorded. However, achieving this can be a daunting task. Here at Wexus, we do the investigative work for you, manage to recover missing information and supporting documents, and reduce and prevent the possibility of future fraudulence.

Due to society’s heightened awareness and growing intolerance of fraudulent activity, demand for forensic accounting is rapidly increasing; due to increasing reliance on electronic and digital technology. With that, we make sure that your accounts are as accurate as possible by incorporating proper financial analysis, focus on accounting data activity, and detect any abnormalities. Knowing what to expect is one of the most useful tools in being able to find what is missing or what was hidden, whether intentional or not. Bottom line, we want to help you understand, simplify and explain what really happens in a business.

We just currently assisted one of our clients, whom is in the Electronics Industry, with a few of their vendors. They started using our services to clean up their accounting. Certain charges were not properly accounted for or not documented. We contacted the vendors to gather the missing invoices. We then verify if the invoices and charges are legit and not fictitious. With the provided information, we were able to reconcile and account for each invoice and amounts.

If you have experience any sort of dilemma, whether from the CPA firm's perspective, or from that of the client or referral source, we’d like to hear from you. We can offer a second opinion and most importantly financial relief and peace of mind solution.