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As a small business owner you have more important things to do than bookkeeping. We take care of your bookkeeping 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 account each month helps 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 unauthorized wire transactions.
  • Detect excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect embezzlement of funds from within your company.
  • Understand the health of your business? It is difficult to know how your business is doing unless all accounts are reconciled and transactions are 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 objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, 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, provides an itemized list of all your revenues and subtracts an itemized list of all your expenses to arrive at 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.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

 
Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

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 area of receivables and payables.
  • 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 your "books" and ultimately any financial statements.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. We will address any discrepancies so your books are always accurate and kept in tip top shape.

If you'd like to receive a consultation on our Small Business Accounting Service, please complete this form.

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