Small Business Services

As a small business owner, you have more important things to do than to keep your own books. We take care of the books for you so you can get back to the job of running your business and generating profit!

Each month or quarter, we will:

  • Reconcile your bank account
  • Generate an income statement
  • Generate a balance sheet
  • Clean up your general ledger
  • Review matters with 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 other services.

Bank Reconciliation

Reconciling your business checking account each month allows us to keep your bank account, accounting 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 ensure transactions are posted correctly by your bank
  • Detect and prevent embezzlement of funds from within your company
  • Understand how your business is performing; this is difficult unless all accounts are reconciled and properly accounted for on your financial statements
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money
  • Protect yourself. Timely reconciliation and prompt objection of any unauthorized, fraudulent or forged checks can relieve your company of responsibility for the shortfall and transfer the risk to the bank
  • 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, essentially adds an itemized list of all revenue and subtracts an itemized list of all expenses to calculate a profit or loss for the period.

An income statement allows you to:

  • Track revenue and expenses so 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
  • Identify dramatic increases in product returns or cost of goods sold
  • 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, consider making changes to your billing procedures to improve your cash flow
  • Determine if your business is in a position to expand
  • Determine if your business can easily handle the normal financial ebbs and flows of revenue and expenses
  • Determine if you need to take immediate steps to bolster cash reserves
  • Determine if your ability to pay bills is slowing and attention to cash flow is needed

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 accurate and provide useful information to you to run your business.

Unlimited Consultations

We are always available to spend time with you to assist you in fully understanding how to interpret and utilize the financial information we provide.

This type of service is performed for many reasons, using judgment and experience as it is not an exact science.
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