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...
-
Reconcile your bank account
-
Generate an income statement
-
Generate a balance sheet
-
Clean up your general ledger
-
Provide unlimited consultations
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 unauthorized wire transactions.
-
Detect and prevent excess/unjustified
bank charges and ensures transactions are posted correctly
by your bank.
-
Detect and prevent embezzlement
of funds from within your company.
-
Know how your business is doing?
You can't really know 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 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. This reason to reconcile alone should
be enough. Crime exists.
-
Sleep Better. You will sleep more
peacefully at night knowing your bank accounts are
reconciled, in balance and that all escrow funds,
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-budget or under-budget.
-
Identify specific items that are
causing unexpected expenditures. Like phone, fax,
mail, or supply expenses.
-
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. For example,
if your receivables cycle is lengthening, maybe you
can collect your receivables more aggressively.
-
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?
-
Determine if your business has
been slowing down payables to forestall an inevitable
cash shortage?
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.
Unlimited Consultations
We are always available to spend time with you so you
fully understand how to interpret and utilize the financial
information we provide. Our consultations are already
included in our price, so please feel free to call us
whenever you have a question or concern.
