Total Source
Practical and Cost-Effective Solutions
Total Source
Total Source was developed by Baker Davis to furnish car rental business clients with a practical and cost-effective solution to a challenge that confronts many companies operating in the car rental industry – how to obtain a qualitatively high level of accounting and administrative staff competence at a reasonable price.
The operation of a successful car rental business requires an understanding and working knowledge of a complex set of accounting and regulatory rules. Professionals familiar with this complex regulatory environment are expensive, often priced beyond the financial capabilities of many small to midsized car rental businesses. As a result, many competitors in the industry employ accounting and administrative staff that are often inexperienced and lack the ability to properly navigate the regulatory landscape. Errors and omissions in the areas of accounting and administration are costly, both in terms of remediation and lost opportunities.
In 2019, we expanded the Total Source Program to include our Construction & Real Estate, Automobile Dealership, and Collision Repair Industry Groups.
Total Source includes the following services.
- Preparation of Monthly Financial Statements
- Monthly Bank Reconciliation
- AP & AR Accounting and administration
- Fleet Registration, Licensing, & Accounting
- Preparation of Sales Tax Forms
- Coordination of Payroll Reporting
- Preparation and Presentation of Monthly Management Report
- Preparation of Daily Box Score Report
- Preparation of Snapshot Report
- Compliance Services related to Business License & Permits
- Insurance Coverage Review and Reporting
- Bankcard Processing Oversight & Reporting
- Balance Sheet Analysis & Reporting
- Outside Accounting Report Coordination & Interaction
- Coordination of Tax Compliance With Outside Professionals
- Capital and Working Capital Budgeting & Forecasts
Total Source Benefits
As detailed above, Total Source is a comprehensive outsourcing model that enables clients to access highly experienced and knowledgeable accounting and administrative professionals at a cost that is at least 15% less than the client’s current internal accounting and administrative expense – Guaranteed. Benefits related to the adoption of Total Source include the following:
- Reduction of Software, Equipment, and Licensing Expense
- Reduction in Work Space Expense For Accounting & Administrative Functions
- Reduction of Accounting Staff Payroll Tax, Insurance, and Benefits Expense
- Reduction of Administrative Staff Payroll Tax, Insurance, and Benefits Expense
- Reduction in “Lost Time” Employee Expense (vacation, sick time, holidays)
- Reduction in Labor Claims Exposure
- Improvement in Quality of Accounting Function
- Improvement in Quality of Administrative Function
- Enhanced Proactive Planning & Oversight Capabilities
