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 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, bank reconciliation, annual tax preparation, or any of our other services.
The payroll journal is a listing of all wages, federal and state withholdings, unemployement taxes, and payroll taxes paid on a monthly basis.
By analyzing this information, we can plan for payroll taxes and make adjustments to withholdings to decrease tax liability at the end of the year. It also acts as a analysis for investigating wage expense attributable to each individual employee.
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.
Cash Disbursement Sheet
The cash disbursement sheet is the core section for reviewing your monthly expenses. These records constitute all the money moving out of your bank account. Since this sheet lists all expense, its the first place to look when analyzing where your money is headed on a monthly basis.
Having us summarize your cash disbursements each month allows us to hunt down any discrepancies in check numbers such as unreconciled checks or any double payments. Then we'll notify you of the discrepancies so your books can be corrected keeping everything 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.
Pick-up and Deliver your work
This is where we truly distinquish ourselves. We assist you on a monthly basis in person to ensure that you understand the information and that all applicable deadlines are met. The focus is always about your business ensuring our meetings are mutually beneficial.
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