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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!
Each month or
quarter we'll do the following things for 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 allow 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 ensures transactions are posted
correctly by your bank.
- Detect and prevent embezzlement
of funds from within your company.
- Know how your business is
doing. You can't really know unless
all accounts are reconciled and properly accounted for on your financial
statement.
- 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, fax, mail, or supply
expenses.
- Track dramatic increases in
product returns or cost of goods sold as a percentage of sales.
- 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, maybe you can collect your receivables
more aggressively.
- 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.
- Determine if your business has
been slowing down payables 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 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 always accurate and kept in tip-top
shape.
Unlimited
Consultations
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.
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