|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
Each month or quarter we'll do the
following chores 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
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
- 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
- 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
- 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
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.
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
- 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
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.
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.
If you'd like to receive a Free Consultation on our Small Business
Accounting Service, please complete this form.