Bookkeeping

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.

Below are the services that you can expect from us:

 

• Reconcile your bank account

• Generate an income statement 

• Generate a balance sheet

• Provide consultation on tax deductibility of transactions

 

These tasks form the solid foundation of your small business. 

 
Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, books, 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.

• 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, fuel, repair, or supply expenses.
   

• Track dramatic increases in your operations and pinpoint solutions to increase profitability.
   

• 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 in your business and track your various payables.
   

• 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
   

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.

 
Consultation

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.