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'll 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.
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
unusual transactions.
- Ensure transactions are posted correctly by your bank.
- Know how your business is doing. You can't
really know for certain unless all accounts are reconciled and properly accounted for on
your financial statement.
- Manage your cash more effectively.
Proper management of funds not only saves money, it makes money for you.
- Protect yourself. By timely reconciling and
promptly informing your bank of any unauthorized transactions presented and paid, you can relieve your agency
of responsibility for the shortfall and transfer the risk to the bank.
Income Statement
An income statement, otherwise known as a profit and loss statement,
is basically an itemized list of all your revenues less expenses to calculate a net 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-budget or under-budget.
- Identify specific items that are
causing unexpected expenditures.
- Assist with the determination of your income tax liability.
Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition as of a specific date.
A balance sheet helps you...
- Quickly get a handle on the financial
strength and capabilities of your business.
- Identify and analyze trends in your business.
- Determine if your business is in a position to expand.
- Determine if your business can easily handle the normal financial ebbs and flows of
revenues and expenses.
- Determine if you need to take immediate steps to bolster
cash reserves.
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 period allows us
to discover any discrepancies and fix them so your
books are always accurate and kept in tip top shape.
Consultations
We are always available to spend time with you so you fully
understand how to interpret and utilize the financial
information we provide. Please feel free to contact us whenever you have a
question or concern.
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