Track project costs: For each interior design or furniture project, track costs related to materials, labor, overhead, and other expenses.
Analyze profitability: Calculate the gross margins on various projects and identify areas for cost reduction or increased efficiency.
Inventory management: Monitor raw material and furniture inventory, ensuring that stock levels are appropriate, and accounting for any waste or spoilage.
Tax Management
Sales tax and VAT: Ensure the firm complies with local sales tax, VAT, and other tax regulations, collecting and remitting taxes as required.
Income tax: Prepare and file corporate income tax returns and manage any other tax obligations.
Tax planning: Work with external tax advisors to ensure that the firm minimizes tax liabilities and takes advantage of available deductions.
Payroll Management
Salary and wage processing: Ensure that employees are paid accurately and on time, including tax withholdings and deductions.
Employee benefits: Track and manage employee benefits (e.g., health insurance, retirement plans), ensuring compliance with company policies and government regulations.
Overtime and bonuses: Accurately calculate any overtime, commission, or bonuses based on company policies.
Cash Flow Management
Monitor cash flow: Keep track of incoming and outgoing cash to ensure the firm maintains sufficient liquidity for operations.
Bank reconciliations: Regularly reconcile company bank statements to ensure that all transactions are accounted for and there are no discrepancies.