Every small business owner needs to focus on running their business and using their financials as a tool for success. We not only manage your books for you but offer a variety of services that make your accounting process easier.
These services form the solid foundation of your small business accounting system, and include:
- Providing quarterly consultations
- Reconciling your bank accounts and credit cards
- Generating an income statement
- Generating a balance sheet
- Cleaning up your general ledger
We are not a once a year CPA, this is what sets us apart from other small business CPAs. We use these quarterly touches to discuss issues that have arisen in your business during the quarter. We do not wait until year end for a pulse of your financial situation. The last quarter is heavily concentrated on tax planning to ensure you time to implement actionable items to reduce your taxes.
Bank & Credit Card Reconciliations
Keeping your accounting, credit cards, bank accounts, and taxes up-to-date are critical to managing your business. The benefits of monthly bank reconciliations are:
- Identify lost checks, lost deposits and unauthorized wire transactions.
- Prevent excess/unjustified bank charges and any unauthorized, fraudulent or forged checks
- Generate financial statements
- Manage your cash more effectively
A quality income statement allows you to view the profit and loss for your business. The benefits of the income statement include:
- Determine the operating performance of your business
- Track revenues and expenses
- Implement budgets
- Identify specific items that are causing unexpected expenditures
- Track dramatic increases in cost of goods sold or operating expenses
- Assist in determining your income tax liability
Balance sheets help provide financial reporting to banks, investors, and vendors as requested. The benefits of the balance sheet include: from tracking your business’ financial condition at any moment in time and a business sheet can help:
- Determine the financial condition of your business on any given date
- Review your receivables and payables
- Make sure the company is showing favorable financial ratios for lenders
The general ledger is essential to keeping all of your business’ financial records. With every transaction going through the general ledger, one problem could throw off all your books. By reviewing your general ledger system each month, we are able to fix any discrepancies or unrecorded payments to assure your books are accurate.