From Legos to Ledgers: How The Accounting Guys support Bricks and Minifigs

From Legos to Ledgers: How The Accounting Guys support Bricks and Minifigs

How We Help Bricks and Minifigs with Their Accounting Needs—And How We Can Help You

The Accounting Guys is a full-service accounting firm, and as such, we love to flex our accounting knowhow across the board. When we’re able to provide comprehensive bookkeeping, tax preparing, strategic planning, and every other accounting service a business needs, we get a little excited—and that’s why we’re so excited about working with Bricks and Minifigs

Bricks and Minifigs is a franchise that specializes in selling Legos and associated mini-figurines from several locations. A business can’t get much more fun than that, right? But even a franchise that’s based on selling toys to kids of all ages has boring business on the backend, and that’s where TAG comes in. We handle the books, so they can handle the bricks. Here’s a quick look at the ways we serve Bricks and Minifigs, and how we can help other businesses like them.

Book Setup and Cleanup

A franchise can live and die by the accuracy of its books, so we don’t leave anything to chance. Our team reviewed the business’s existing books on both the corporate and individual franchise levels to ensure complete accuracy and consistency. Not only is this a great “checkup” for a business’s financial health, but it also makes the monthly work of maintaining the books a great deal easier and provides the business with accurate information for making important financial decisions or reporting to various agencies.

We complete this book cleanup service within 90 days for all of our business clients. For those business that don’t yet have a set of books, the TAG team can set them up for you and ensure it’s ready for easy maintenance on your end.

Maintaining Accurate Financial Records

While some businesses opt to only have us set up their books, for Bricks and Minifigs, we provide ongoing maintenance of financial records to ensure they’re always accurate and up to date. We track all expenses and revenue streams, providing valuable insights into where the company’s money is being spent and how it’s being earned. This way, they never have to second guess the accuracy of their finances when making an important decision, and they’re always in compliance with tax regulations.

Managing Cash Flow

Cash flow is to a business what blood flow is to your body. We help our clients to maintain as steady and predictable a cash flow as possible by identifying patterns in their income and expenses, as well as managing the recording and reporting of receivables and payables. It’s all a key part of ensuring a healthy, thriving business.

Timely Reporting and Compliance

Regardless of whether you’re selling bricks or BMWs, minifigs or actual figs—we’re pretty sure that’s a fruit—you’re probably required to be in compliance with at least one regulatory body. On top of that, a lot of businesses answer to investors, not to mention the nationwide requirement of staying compliant with IRS tax laws. TAG helps Bricks and Minifigs remain in compliance with all regulatory requirements by ensuring their financial statements are prepared accurately and on time. So, when they need to answer to the IRS or their investors, they’re always prepared.

Preparing Business Taxes

Toys and taxes just don’t mix, which is why the fun people at Bricks and Minifigs leave all that paperwork to the boring people here at TAG. (We promise, we’re not actually that boring. We just get unnaturally excited about numbers.) We provide full tax planning and preparation services, not only ensuring an accurate and timely tax filing, but helping our clients understand, anticipate, and plan for their upcoming tax return. We work throughout the year, well past April 15th, to help our clients minimize their tax liability, avoid penalties, and simply do away with the typical stresses of tax season.

Providing Analysis and Insight

One of the things we love most about offering comprehensive financial services to clients like Bricks and Minifigs is the ability to provide ongoing financial analyses and insights that can help the business grow and succeed. We strive to become a partner to our clients in many ways, offering the guidance and support needed for strategic decision-making, such as identifying cost-saving opportunities and assessing the financial viability of business initiatives—and, of course, the tax implications of all those decisions.

Get the Accounting Support You Need

These are just some of the ways we help one of our many clients with their accounting needs. Every client we serve is unique, and we offer the exact level of support needed to help their businesses thrive. Whether it’s simple annual tax preparation, full-service accounting and bookkeeping support throughout the year, or something in between, the experts at TAG can provide the services you require, tailored to your exact needs.

Contact our bookkeeping and accounting experts in Provo to schedule a consultation and learn how we can help your business with your individual accounting needs.

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