Accurate and timely financials are key for the success of all businesses. Understanding how your business is performing will help you in making intelligent business decisions for future growth. Using our small business accounting package is a great way to streamline your operations, allowing you to focus on managing the core function of the business and increase profitability.
Running a small business is already challenging enough without having to spend significant time on managing the accounting and bookkeeping. It is estimated that small business owners spend 70% of their time doing activities outside of the core function of their business. Let us alleviate some of the non-core work and allow you to focus on the safety, cash, cost and service of your business.
On a monthly or quarterly basis. we will provide the following:
Reconcile bank accounts
Fixed Asset Maintenance
Generate Financial Statements (Income Statement and Balance Sheet)
Maintain General Ledger and Journal Entries
One hour over the phone consultation to go over financial statements and performance.
On a daily or weekly basis, we will provide the following:
Update of accounting records with the most recent transactions
Bank Reconciliations:
Reconciling your business checking account each month allows us to keep your bank account and accounting 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 charges are posted correctly.
Detect and prevent embezzlement of funds
Protect yourself and your assets by timely objections to unauthorized transactions to your accounts.
Income Statements:
An income statement is the summary of how you are performing over a period of time. Income statements allow 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/under budget
Identify specific items that are causing unexpected expenditures
Track increases/decreases in operating expenses and or cost of goods sold
Determine your income tax liability
Balance Sheets:
The balance sheet gives you a snap shot of your assets, liabilities and stockholder equity at a point in time. The balance sheet helps you:
Understand your current financial strength.
Identify and analyze trends in this such as inventory turns, days sales outstanding and days payable outstanding
Determine if the business can expand
Maintaining a Clean General Ledger:
The general ledger is the core of all your financial statements. All transactions flow through the general ledger so it is important that the information entered is accurate. We will process transactions for you and review the ledger each month to ensure the information is as accurate as possible.
Quarterly Consultation:
We are always available if you need us to spend time with you so that you fully understand your financial results. Quarterly consultation is included, so feel free to e-mail us whenever you have any questions or concerns.