Fayohne Advisors is Changing the way Accountants Work with Small Businesses

New York –– Fayohne Advisors [www.fayohne.com] was founded on the philosophy of helping businesses succeed by freeing them from complicated spreadsheets and intimidating financial systems. With innovative systems and advisory services, Fayohne Advisorsgives business ownersthe confidence to focus on their passions, while still knowing the financial health of their business.

Fayohne’sapproach integrates cloud-based accounting software QBOwith business planning andfinancial tracking software LivePlan. These cloud-based tools, coupled with Fayohne’sexpertise in business planningand financial management, gives their small business clients an advantage. Research from Cranfield University’s School of Management shows that small businesses who actively plan, track against that plan, and adjust their plan based on market need, grow 30% faster. Planning and tracking is what separates small businesseswho are surviving from those who are thriving.

“LivePlan gives our clientsthe ability to understand their financial strengths and where they need toadjust their assumptions,” said Levar Haffoney, Principal, Fayohne Advisors“LivePlan’sintegration with QBOhelps us, as the fractional CFO, play the larger role of a strategicadvisor by allowing our clients to easily access key financial data wherever they need it, in a format that’s easy to understand.”

 Created by Palo Alto Software, LivePlan helps small business owners easily develop budgets and forecasts, create goals for their business, and then track their progress on a dynamic dashboard that syncs with popular accounting systems. LivePlan imports accounting data from Xeroand QuickBooks and presents the information in a dashboard view that shows business owners where their financials stand compared to their original plan and previously set goals.

 “Accounting data alone is not sufficient enough to run a business,” said Sabrina Parsons, CEO of Palo Alto Software. “Business owners must also track how those actual numbers compare to their budget and forecast and their historical performance. LivePlan gives small business owners access to this information – in an easy to view format – without having to ask their bookkeeper or accountant to run multiple reports. With this, accountants are becoming strategic advisors, and helping small businesses in areas beyond taxes, bookkeeping, and audits.”

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