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Accounting &
Bookkeeping Services
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Small Business
Accounting
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
company’s bank statements
-
Prepare an profit
and loss statement
-
Prepare a balance
sheet
-
Review your
company’s general ledger
-
Provide
Consultations as needed
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.
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.
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.
Newsletter
Our regularly updated newsletter provides timely articles to
help you achieve your financial goals. Please come back and
visit often.
Please contact us at the office any time if you have
questions. |
