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Small Business Accounting PDF Print E-mail

As a business owner you should concentrate on your expertise rather then spending time  learning and developing new skills in new areas. We will bring our experience and knowledge of accounting to your business so you can concentrate on your expertise and get better revenue of your efforts.
Each month or quarter we'll do the following things for you...

1) Reconcile your bank account

2) Generate an income statement

3) Generate a balance sheet

4) Clean up your general ledger

5) Provide unlimited consultations

We will provide you information accurately and in timely fashion, which will help you know direction of your business and make informed decision in your business's.

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...

1) Identify lost checks, lost deposits and unauthorized wire transactions.

2) Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.

3) Detect and prevent embezzlement of funds from within your company.

4) Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.

5) Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

6) 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.

7) Peace of mind is very essential for better decision in business. We will do your small tasks and release  you from day to day task, which will allow you to focus on improve business and serve your customer with top most satisfaction guaranteed,  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, also 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...

1) Track revenues and expenses so that you can determine performance of your business and make decision for future and prepare budget and allocate funds for essential needs and developments.

2) Determine what areas of your business are over-budget or under-budget.

3) Identify specific items that are causing unexpected expenditures.

4) Track dramatic increases in product returns or cost of goods sold as a percentage of sales.

5) Determine your income tax liability.

Balance Sheet

A balance sheet gives you picture of business' financial condition at a specific moment in time.

A balance sheet helps you...

1) Quickly get a handle on the financial strength and capabilities of your business.

2) Identify and analyze trends, particularly in the area of receivables and payable. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.

3) Determine if your business is in a position to expand.

4) Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?

5) Determine if you need to take immediate steps to bolster cash reserves?

6) Determine if your business has been slowing down payable 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 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  reviewed your general ledger system each month allows us to track 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, which in turn reflects correct financial reports.

Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information provided by us.

Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.