As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter we can do the following things for you...
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Entering and paying invoices is a necessary evil of any business, yet as an owner, this doesn't provide for the best use of your time. You should be out growing your business and generating more sales.
Allow us to keep track of your payables and either make payments with online bill pay or cut checks for your signature. We can customize our service to fit your needs.
Entering sales invoices and collections is the life blood of your business. Let us help you keep your receivables in order and the payments for your business services or product sales coming in on a regular basis.
Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to identify lost checks, lost deposits and any unauthorized transactions. It helps detect and prevent excess or unjustified bank charges and entures transactions are posted correctly by your bank and helps you understand how your business is doing. You can't really know unless all accounts are reconciled and properly accounted for on your financial statement on a monthly or quarterly basis.
By making sure your bank account is reconciled, you will sleep more peacefully at night knowing your accounts are reconciled, in balance and that all accounts, checks and disbursed funds are properly accounted for.
Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to track revenues and expenses so that you can determine the operating performance of your business. Determine what areas of your business are over or under budget, and identify specific items that are causing unexpected expenditures like phone, fax, mail or supplies.
Producing and reviewing your income statement on a regular basis allows you the time to make corrections to your business process or cut expenses in order to meet your overall long range income goals. It is also vital to determining your tax liability on a quarterly basis.
Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. It lists the assets and liabilities of your company.
A balance sheet helps you quickly get a handle on the financial strength and capabilities of your business, identify and analyze trends particularly in the are of payables and receivables as well as determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses.
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
Maintaining a Clean General Ledger The general ledger is the core of your company's financial
records. These records constitute the central "books" of your
system. Since every transaction flows through the general
ledger, a problem with your general ledger throws
off all your books. Having us review your general ledger system each month allows us
to hunt down any discrepancies such as double billings or any
unrecorded payments. Then we'll fix the discrepancies so your
books are always accurate and kept in tip top shape.
Monthly or Quarterly Consultations
When we provide you with a business accounting package, we build in one hour of consultation per month should you wish to discuss your financial records with us. We provide this service so you fully understand how to interpret and utilize the financial information we provide and that you get the most value for your money, so please feel free to call us whenever you have a question or concern.
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