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.
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
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
- Track dramatic increases in product
returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in
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
- 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
- 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.