ACCOUNTING SERVICES

We provide scalable accounting services for businesses of all sizes. Call us today for a free consultation to find out how we can help. Mecham, Dicus and Company is you premier choice for Accounting services whether you are here locally in the Las Vegas area or anywhere in the world. If you are looking for an experienced US based firm, then look no further.

BUSINESS CONSULTING

We provide a comprehensive range of services in the areas of financial management, operations, risk management, strategy and technology. We offer a customized approach to our services that's based on your needs. Additional business services include: Bookkeeping, CFO Services, Cash Flow Management, Strategic Business Planning, Tax Strategies, and more.

TAX SERVICES

We can assist in managing and minimizing all aspects of our client's tax liability, including, but not limited to, Federal, State and transfer taxes. Advance planning results in substantial benefits and allows time for developing alternative tax strategies. We also provide businesses period-end closing, financial statement preparation and budgeting on scheduled.

Best Practices for Product Discontinuation in Daly City, CA; Bookkeeping to Determine Costs of Products & More

As a business owner, you don’t want to ever find yourself losing money for any reason. You should always be looking for ways to maximize your profits and build your success. If you are in the middle of making the decision as to whether or not to continue a product line, there are several things that need to be considered first. Without experience in making these decisions, they can seem overwhelming; leaving you without any idea as to where to even start. Mecham Dicus & Company is here to share some tips to help you decide when it is time to discontinue a product.

Total Cost of Product

A big indicator that it is time to discontinue a product is the overall cost to your company. This would include production cost, shipping cost, storage cost, selling costs and customer service costs that all play a role. This is one of the reasons that accounting and bookkeeping is so important for any business. If you have kept sufficient records, this information is easy to find.

Importance of Opportunity Cost

This one is maybe a little trickier to decide. You see, opportunity costs includes the amount of time you spend on this product that could be spent elsewhere on other products. It also would include the floor space that this product takes up and could potentially be used for a more lucrative product in your store.

Cross Selling

Sometimes, the product in question directly affects the sale of other products. There are times that your lower performing products may drive the sale of other products like accessories or plan upgrades. There may even be a product that you have built your business and reputation around that will bring in customers that don’t actually buy that product but are still bringing in business. This is another circumstance that requires good record keeping so that you can chart the sales and marketing performance so you know the role this product plays in your business.

Avoid Retail Cannibalization

Much like cross selling products, cannibalization is similar in the opposite direction. This means that you have a product that is causing other products to suffer. It could mean that you have a basic product and an upgraded product. While many customers may choose the basic product because of the lower cost, you may see an increase in your profit when you take that basic product away and only offer the upgraded one. Your sales may take a small hit, but you will still end up making more.

Bookkeeper & Accounting Services & More in Walnut Creek, Daly City, San Mateo, Palo Alto, Mountain View, San Jose, Pleasanton & Greater San Francisco, California

Before you make that decision to keep a product or discontinue it, it is important that you look at the numbers. Without a company like Mecham Dicus & Company, it can be difficult to see a clear picture of what those numbers may be. We will help you keep up with your accounting and bookkeeping needs so that you can effectively chart the growth of your business and your products. Call us today!

Accounting, Consulting & Tax Services in Greater Las Vegas NV, Cedar City UT, Seattle WA, San Francisco CA, Milwaukee WI & More