CPG companies may earn sales through multiple revenue streams like direct-to-consumer, wholesale, and e-commerce, each at different terms. While effective for revenue diversification, this can make it difficult to ensure accurate revenue recognition.
As CPG businesses scale and see the volume of sales grow, this can only become more challenging as teams need to accurately track the timing and amount of each transaction
Improper inventory management can be a costly mistake for CPG brands. Inventory is often one of the biggest assets on a CPG company’s balance sheet. But, businesses in the industry often struggle with its management and knowing how to record its value correctly.
CPG businesses strive to have enough inventory on hand to take advantage of customer demand without over-purchasing and ending up with shelves of unsold inventory
Trade spend and promotions tend to be sizable expenses for CPG brands, requiring a sophisticated accounting approach to maintain accurate records and meet financial reporting requirements.
While trade spend helps brands increase exposure and promote their goods, teams also need to engage in diligent accounting to make informed decisions. Teams need a way to budget and forecast spend across channels and track and analyze the financial impact of different promotional activities
Trade spend and promotions tend to be sizable expenses for CPG brands, requiring a sophisticated accounting approach to maintain accurate records and meet financial reporting requirements.
While trade spend helps brands increase exposure and promote their goods, teams also need to engage in diligent accounting to make informed decisions. Teams need a way to budget and forecast spend across channels and track and analyze the financial impact of different promotional activities
The CPG industry can be quite capital-intensive. Businesses that don’t properly manage inventory can find their capital tied up in unsold goods, and dealing with unfavorable payment terms from suppliers can put a pinch on cash flows in the near term.
Brands need to properly manage working capital across inventory, accounts payable, and accounts receivable to support ongoing operations and have the cash to fuel further growth initiatives
CPG businesses can leverage emerging technologies and software systems to their advantage, but it can be difficult to know exactly what solutions to implement and how to ensure they integrate properly with existing systems.
From ERP systems to accounting software and data analytics solutions, teams need to choose tools that are compatible with their current software to avoid data silos that only create further inefficiencies
Accounting experts who understand the distinct financial challenges of the CPG sector will deliver solutions that are specifically tailored to your unique operations.
You’ll receive more than just generic accounting services and financial guidance. Whether you’re a growing startup or a global brand, you’ll receive support when and where you need it.
From day-to-day bookkeeping support to strategic CFO guidance during a new product launch, specialized accounting experts can plug into your operations from day one without further clarification about your business model or industry considerations
Share your goals and challenges
We create a service plan tailored to the business needs of CPG companies.
Our team sets up the proper tools to streamline your financial operations
Receive real-time insights, reports, and expert advice from your dedicated bookkeeper
Looking for reliable business bookkeeping and accounting services? Our team is ready to help
Our deep understanding of the dynamic CPG landscape allows us to help clients turn financial data into actionable insights. The expert team at Bob’s Bookkeepers will help your brand thrive in a fast-moving market while making data-driven decisions that give you a competitive edge
We provide tailored financial management for CPG companies, including cost analysis, inventory management, and sales forecasting to optimize profitability
Managing cash flow, inventory costs, and profitability are major challenges in the CPG industry. We offer strategies to manage these effectively, ensuring stable growth and improved cost efficiency
Our team provides advanced tools and insights for inventory tracking, demand forecasting, and cost control to streamline operations and reduce excess inventory costs
CPG businesses face several accounting challenges that are unique to the industry, requiring specialized support to ensure accurate reporting, complete financial data, and expert guidance. Not every accounting firm will be equipped to help you optimize working capital management, inventory management, and accurate sales forecasting on top of standard bookkeeping tasks. Ideally, you’ll find a team that has practical experience serving businesses in your industry
Our experts have years of experience serving clients in the CPG space and are well-versed in the industry standards that apply to your business. We stay informed on any updates to accounting standards and regulations and apply the necessary changes to ensure your business remains compliant
The main advantage of outsourcing accounting is that your team gets access to expert support without needing to build out an entire department in-house. When you hire the right team, like Bob’s Bookkeepers, you’ll not only free up your time for core business tasks, but you’ll also have the peace of mind that your company’s finances are being properly managed and in compliance with relevant industry standards
Strategic accounting services can deliver the custom support and expert guidance you need to improve the bottom line. Expert CPG accountants can help you find ways to better control spending and identify potential cost savings. Our team leverages its years of experience and deep knowledge of the industry to help drive profitability for your business
CPG accounting is the practice of specialized financial management for consumer packaged goods (CPG) companies. These services may include standard accounting tasks like accounts receivable (AR) and accounts payable (AP) management, plus specialized support specifically for the CPG industry. This may include complex inventory management or trade spend management, helping these businesses stay compliant and keep their financial records accurate
Consumer packaged goods companies can use a variety of tools to gain more visibility into financial operations. Some of the more common options include accounting software solutions to keep their books organized and enterprise resource planning (ERP) solutions to monitor supply chain and inventory costs, along with other helpful financial data
Outsourcing CPG accounting workflows to an expert team can help improve the financial efficiency for CPG companies. Their team gets more time and resources to focus on core operations that grow the business. Plus, it gives them access to experienced accounting experts who can help teams optimize their financial operations, without incurring the costs to hire professionals internally
