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 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.
