The pandemic brought on a rapid economic downturn and disruption that affected all businesses in a significant way. Supply chain interruption, employee shortages, forced closures, and a tightening of credit resulted in substantial operational and financial impacts worldwide. Many businesses unprepared for the changes suffered. However, as many companies scrambled, those with a solid accounting team in place were ahead of the curve. Acting as true “Economic First Responders” accountants were able to go above and beyond by providing client accounting (CAS) so businesses could pivot and adapt to these unprecedented challenges.
Addressing the financial impacts of COVID-19
Many forms of economic relief, such as the Paycheck Protection Program (PPP), grants, and other government subsidies, were available to offset lost revenue. Those companies with reliable accounting partners had the upper hand when accessing these programs because they could provide financial information to access them quickly. In most cases, this intervention accelerated the time in which companies received these critical funds… a lifesaver for a business in need. Armed with accurate data and reporting, true accounting partners were able to apply real-time financial information when applying for loans and subsidies, making all the difference.
Plan for future financial success with Heal Accounting
Everyone is hopeful business will not be disrupted by a future pandemic. But if business owners learned one thing throughout this challenging time, it is that right accountant partner is invaluable and the key to rebuilding businesses and recovering from the economic fallout. At Heal Accounting, we are passionate financial experts that will help rebuild your business using better financial tools and technology. We want you to achieve your goals, which is why we focus on increasing your bottom line, improving your cash flow, planning for the future, and boosting your financial growth.
When you partner with our strategic advisors from beginning to end, you’ll minimize your business risk and get expert help from a team of innovative financial problem-solvers. We will develop a strategic plan that positions your business for growth and financial success. To get started enhancing your business with our customized financial services — from bookkeeping to CFO advisory services and tax preparation — contact us and schedule your free consultation.