Funeral Home Accounting
The numbers are the heart of your business
The death care profession faces continued revenue erosion and increased operating expenses. Close financial management has never been more critical to ensure profitability. Financial control requires timely, detailed financial statements, accurate budgeting, close monitoring of actual performance and strategic action to reach targeted financial objectives. Business mix, revenue assortment, controllable sales averages, individual arranger performance, service and merchandise pricing, variable expense management, collections and cash flow are all crucial components of the successful financial management of your firm.
Drawing on our experience in the death care profession, we have developed an accounting system specifically formatted and detailed for the funeral home and cemetery professional. Johnson Consulting Group’s Accounting Services offers you the most effective yet practical financial management tools available including comprehensive accounting services, timely, accurate financial statements, customized management reports, and monthly analysis by JCG financial and operations experts. This provides you the ability to make informed decisions and take strategic action to maximize your profitability ensuring optimum business value.
1. Which Accounting Services Level is Right for You?
Not every funeral business has the same needs. Johnson Consulting offers two levels of accounting services to allow you to decide what best fits your business needs. With both options, JCG performs all of the basic accounting functions that you would expect from your accounting company.
- Accounting Basic: This is JCG’s most selected accounting service. The financial reporting becomes more detailed and informative on a monthly basis. You get quarterly reviews with our management team as well as annual budget preparation assistance.
- Accounting Plus: This is the ultimate financial and management service which couples our state of the art accounting services with the industry knowledge and experience of our management services. This blend allows you full access to our management team to become your day to day operations strategic partner.
2. The Advantages of Using JCG Accounting Services
JCG Accounting Services is a funeral profession specific accounting system developed by funeral professionals. It’s not just accounting – it’s a complete financial management tool. The JCG Accounting Services and systems provide one of the most complete, most understandable, and most useful presentation of accounting information for funeral home and cemetery operators anywhere. The advantages are many:
- Developed specifically for the funeral business
- Funeral industry specific chart of accounts
- Industry benchmark performance measurement
- Accurate & timely financial statements
- Individual and consolidated financial statements for multi-location operations
- Detailed sales reports
- Budgeting and forecasting assistance
- Web based programs with 24/7 access
- Easy start-up and implementation
- Software setup, training, and maintenance handled by Johnson Consulting Group
- Saves time and money
- Reduces overhead
- Reconciliations by JCG staff
3. It’s Not Just Accounting… More Importantly, it’s a Financial Management Tool!
Often times, funeral home owners and managers simply measure current performance by comparing to last year’s results. This comparison can be misleading and cause incorrect conclusions and poor financial and operating decisions. Without the right financial management tools and in-depth analysis, successfully navigating your business can be difficult at best if not impossible. Johnson Consulting Group Accounting Services gives you the financial information you need in a format that you can use to effectively and profitably operate your company.
- Trend Analysis Financial Statement: Johnson Consulting Group’s Trend Analysis Financial Statement gives you both a unique and simple summary report that gives you a precise overview of your firm’s financial performance as well as a detailed financial statement of all of your financial data. The Trend Analysis gives you the important financial information you need by month, year to date, and prior year. The report provides call volume by case type and details average revenue per call. This information is easily compared to budget and variances calculated. Expenses are also tracked in comparison to budget and compared to historical data as well as a percentage of net sales which allows for easy comparison to industry standards. Operating profit and EBITDA is closely tracked. The result is a financial management tool designed by funeral operating professionals to support successful financial management of your funeral business.
- Contract Sales Analysis: Your arrangers obviously have an impact on your revenues. It only makes sense that an ongoing analysis of the sales performance of each arranger is key to your success. Monthly detailed sales analysis by company, location and individual arranger allows you to closely track sales performance and know what or who is working and what or who is not.
- Operating Budget: Preparing an annual operating budget that accurately forecasts sales and realistically accounts for expenses is essential for achieving financial success for any business. However, most independent funeral home owners do not use an operating budget. JCG assists you to accurately analyze your business mix to identify and forecast future trends by call type and individual arranger sales. The culmination of this process is an accurate forecast of call volume, business mix and average revenue per call type to establish a realistic revenue budget. All fixed and variable expenses are analyzed and projected to finalize the annual operating budget process.
- Capital Budget: An accurate annual operating budget establishes the net cash flow after debt. This information is necessary for you to complete a realistic budget and timetable for any needed capital expenditures.
4. Flexible Web-Based Technology
JCG Accounting Services offers a web-based program that capitalizes on advanced technology. We installed all our professional accounting and reporting systems on-line. This allows us to provide an “up-to-the-minute”, real time financial view of your business. Your financial information is available to you on a 24/7 basis from wherever you may be.
Johnson Consulting Group is able to provide accounting utilizing any of the popular industry management software companies out there including Director’s Assistant, FDMS, SRS, Mortware, HMIS, and much more!
The JCG Accounting Services program is easy to implement and execute and will save you time and expense while giving you the best financial management and accounting system in the funeral profession.
- Determine which level of accounting service is best suited for your funeral business
- Assess computer and user needs
- Management software setup and coordination (By JCG)
- Financial software setup (By JCG)
- Create sales packages (By JCG)
- Initiate JCG chart of accounts (By JCG)
- JCG will perform training
- If needed, JCG will provide software support and troubleshooting
JCG Accounting Services delivers timely, accurate accounting services and financial management reporting to you along with analysis and support from our operations and financial experts.
- Reconciled trend analysis financial statements within 15 – 20 days following the end of the month
- Reconciled cash, accounts receivable and accounts payable
- Reconciled cost of goods
- Easy end of month procedures for your staff
- Financial review including review of revenue and expenses and balance sheet
The JCG Accounting Services program was designed with the individual needs of each funeral business in mind. With that you choose the level of service and cost that best fits your funeral business. The JCG accounting program helps you manage expenses, maximize revenues and save you time.
Get Started Today!
Call us today at 888-250-7747 or fill out our contact form on our website for a no obligation consultation to see if our funeral home accounting program is right for you!
Click here to download our Accounting Engagement Construction Questionnaire. This will allow us to quickly identify levels of service and costs for you. You may email back to email@example.com or fax to 480-556-8501 along with your contact information. We look forward to the opportunity to serve you!