Description

Many people may not know just how critical an acceptable accounting system is to the success of government contracting small businesses. As Principal CPA at Withum for the Government Contractors Group, Lenee Lyte is the perfect person to explain the role of adequate accounting systems in GovCon small businesses! Joining us as today’s guest, Lenee begins by describing an acceptable accounting system, the challenges of implementing it, what small business owners need to be aware of, and how accounting plays out in the government context. Then, she walks us through how great accounting systems facilitate reporting and project management, how they help with compliance, how they improve small businesses and enable growth, and how to use one to its fullest potential. We end with Lenee’s key takeaways, what Withum has up its sleeve for the near future, and a reminder of the undeniable importance of strategic planning. Tune in for all this and much more!

Key Points From This Episode:

• Insight into Lenee’s GovCon story. 
• The characteristics of an acceptable accounting system and how to implement it. 
• What small business owners need to keep top-of-mind regarding their accounting systems. 
• Understanding accounting within the government context. 
• How robust systems transform complex financial data into actual insights; a win for reporting.
• Explaining CPARS: financial awareness, financial performance, and financial management. 
• How to use your accounting system to its fullest potential. 
• Strategy, strategy, strategy! 

Call(s) to Action:

• Request to join the Hive39 Community on LinkedIn:linkedin.com/groups/12645189
• Help spread the word about Unveiled: GovCon Stories: shows.acast.com/unveiled-govcon-stories
• Do you want to be a guest or recommend a topic that you would like to learn or hear about on the podcast? Let us know at our Guest Feedback and Registration Form!

Sponsors:

Withum: withum.com

Withum is a forward-thinking, technology-driven advisory and accounting firm that offers a range of services including business advisory, forensic and valuation services, accounting and assurance, digital transformation, cybersecurity, and tax consulting.

Twenty39 – Helping small businesses be successful in GovCon: twenty39.com

If your business is considering government contracting and needs expert advisory, business development, proposal management, and/or operations support, we are here to help. We provide end-to-end enablement for pursuing government contracts.

Hive39 Community: twenty39.com/hive39-community

An inclusive online community for GovCon Small Businesses and Consultants to learn, share, and grow. Receive free resources to support your business in pursuing government contracts, meet new partners, identify small business relevant events and cost-appropriate vendor resources, stay up to date on policy and legal changes impacting small businesses, and share 1099 and partnership opportunities. Join today!

Hosted on Acast. See acast.com/privacy for more information.