Accounting & Bookkeeping

As a small business owner, you have more important things to do than to keep your own books and records. We can take care of your books and records so you can focus on running your business and generating profits.

Each month or quarter we'll do the following procedures for you...

Transaction posting and appropriate journal entries
Reconcile the bank account(s)
Generate a profit and loss statement
Generate a balance sheet
Generate a general ledger
Provide consultation and advice

These procedures form the basis and foundation of your 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.

Transaction Posting and Appropriate Journal Entries

Proper transaction posting and appropriate journal entries are keys to building a solid foundation for general ledger account reporting.

Bank Reconciliation

Reconciling your business checking and saving account(s) each month is necessary to monitor cash levels, this helps spending and budgeting.

Having us reconcile your account each month allows you to...

Monitor cash from within your company for cash flow and spending purposes.
Identify outstanding checks, deposits in-transit and unauthorized bank transactions.
Know how your business is doing? This can done only if 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 for you.
Reduce stress - you will sleep more peacefully at night knowing your bank accounts are reconciled, balanced and that all accounts, checks and disbursements are properly accounted for.

Profit and Loss Statement

A profit and loss statement reports the income and expenses of the company in any given period.

An income statement allows you to...

Track income and expenses so that you can determine the operating performance of your business.
Make proper cash flow decisions; a key for cash flow reporting
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Monitor any inconsistencies with income and expenses
Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business' financial position at a specific moment in time.

A balance sheet helps you:

Understand the financial strength and capabilities of your business
Identify and analyze trends, particularly in the area of inventory, receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively
Determine if your business is in a position to expand and invest
Determine if your business can handle the financial flows of revenues and expenses
Determine if you need to take steps for funding of the business through loans
Determine your business' financial position and comparison with other periods

Balance sheets, along with profit and loss 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.

General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of the business' accounting system. Since every transaction flows through the general ledger, property transaction posting is a necessity.

Having us create and review your general ledger system each month allows us to identify any discrepancies such as double billings, any unrecorded payments or any inconsistencies that may arise. We will discuss these discrepancies with you and make the necessary adjustments so your books and records are accurate.

Consultation and Advice

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we prepare and provide. Our consultations and advice are included in our price, so please feel free to call us whenever you have a question or concern.

Please contact our office to discuss your accounting and bookkeeping needs as well as the fees for our services.