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Budget Preparation Service
Open-to-Buy Service
Services for Retail Owners and Management
Services for Computer Software Providers
Educational Seminars

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1. Gross Margin Plan at the total annual planned sales level.   This is planned at the class / category / department level and is used to see what the store’s Gross Margin will be this year.  This Gross Margin data is then used in the preparation of the Budgeted P&L (Cost of Goods Sold section).

2. Budgeted Profit & Loss Statement for the year, on a monthly basis.  This is where you plan the store’s monthly sales goals and expense budget for each expense category you track in the General Ledger.

3. Projected monthly Cash Flow. This is a by-product of the budgeting process and takes into consideration any principle payments on loans and any planned capital expenditures such as remodeling or the purchase of a new computer system.  The Cash Flow Projection is very important to you and your banker.  It lets you know in advance where you will need extra operating funds - - - and when you will be able to pay back any short-term operating loans.
   

The Process:

1. When you first contact us we will get some basic information and send you an Engagement Agreement to be signed.  You will be requested to send your General Ledger Chart of Accounts and a listing of your store’s classes (or categories or departments or ID’s depending of the software you use at your store.  Almost every software company uses a different name to describe the same thing.)

2. Using the information you have sent we will develop a questionnaire to be completed.  This will give us the additional information we will need at the end the project to develop the monthly Cash Flow Projection for the year.

3. We will send a form (either printed if you do not have Excel or another spreadsheet program or as an Excel file) that you can complete and send back giving us the rest of the information we need to complete the budget.

4. Once we have all the numbers and have completed the calculations we will send the completed budget and projected cash flow to you for your review.  Any needed changes can be made at that time.  Once we have made your requested changes we will print and mail to you the final budget.
   

The whole process should take no more than 1-2 weeks, depending on how quickly we receive requested information from you.

Linda Carter, who will be supervising and reviewing the budgets, has over 30 years experience in retail management (both as a controller for a 5 store operation and as a management consultant for Gerald H. Smith & Associates and The Retail Management Advisors.
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Open-to-Buy Service

Get the information you need to go to market. Concentrate on buying the RIGHT merchandise instead of agonizing over how much to buy.

		Development of a Gross Margin Plan
		Assistance with Markdown Planning and Stock Turn Rate Plans
		Develop and monitoring of open-to-buy
		Monthly report and evaluation with suggested action plan

For more information, click here to visit our Open-to-Buy web page
or
to email questions

		Computer system evaluation Make sure you select the retail system that best fits your company
		Computer system implementation We provide guidance to make sure your new system is set up so it provides you with the most valuable information available.
		Open-to-buy management Review of your in-house generated OTB with suggestions for making improvements
		Inventory control Help with maximizing the profitability of each merchandise classification
		Shrinkage assessment and control Help to determine areas of weak controls and development of new procedures and controls to prevent future shrinkage
		Analysis of the corporate structure and organization, job descriptions, evaluation and compensation for all employees, including management and owners
		Financial analysis, budgeting and cash control
		Accounting systems, internal control and procedure development and documentation
		Policy manual guidance, development and review
		Customer marketing evaluation and implementation
		Operations audit

		Review of software development projects to determine if appropriate for retailers
		Software evaluations (for suitability to retailers)
		Educational sessions for client meetings to help your clients get the most benefit from your system

		Inventory Control
		Inventory Productivity (IMU%, MD%, GP% and STR)
		Retailing 101
		Budgeting, Reducing Expenses
		Cash Flow Projections
		Specialized seminars for retail organizations (Seminars for Retail Associations at Special Rates)