Bookkeeping

Shift the Burden of Bookkeeping From Your Shoulders to Ours

You own and run a small business; you have more important things to do than to keep up with your bookkeeping. Our small business bookkeeping can take care of the books for you, allowing you to get back to managing your business and producing profits!

We provide the following bookkeeping services monthly, quarterly, annually and on a clean-up basis:

Set-up Quickbooks or Wave Apps
Manage your Quickbooks or Wave Apps

Import your bank and credit card statements

Categorize all transations
Reconcile your bank and credit cards
Generate a income statement/profit and loss statement 
Generate balance sheet
Accurately track revenue and expenses

These essential tasks are key to maintaining a solid foundaiton for your business.  If you are a new business owner and unsure what the above services entail, please see the detailed explaination of each service below. 

Bank Reconciliation 

Doing monthly bank reconciliations for your business checking and/or business credit cards account allows us to maintain your bank account, which helps keep you up to date on profitability of your business.  

Some benefits of having us reconcile your account monthly include:

Identifying lost deposits, lost checks and unauthorized wire transactions
Detecting and preventing additional bank charges, to ensure that your bank posts all transactions correctly
Spotting and preventing stealing of funds from within your company
Do you know how your business is performing? It’s hard to identify your business performance unless you reconcile all accounts and properly account for them on your financial statements
Managing your cash more efficiently. Not only are you saving money by proper management of funds, but you’re also making more money!
Protecting yourself and your business. Through punctual reconciliation, you will be able to immediately object to your bank regarding any unusual transactions. This includes any unauthorized or counterfeit checks given to your bank and paid by that bank. In a situation like this, you can dismiss your organization of accountability for the loss and transfer the risk to the bank. Remember, crime exists, and this should be a good enough reason to reconcile!
Mind at ease. You will feel better knowing that we are correctly reconciling your business’ bank accounts and accounting for all aspects to the accounts, keeping them in balance.

Profit and Loss Statement 

A profit and loss statement, mostly adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to calculate a profit or loss for the period.

Some benefits of having a monthly profit and loss statement include:

Tracking your revenues and expenses. Doing so will help you determine the operational performance of your business.
Determining which areas of your business is either over-budget or under-budget
Tracking large increases in the cost of goods sold or products returns as a percentage of sales
Identifying individual items that are triggering unexpected costs. A few examples include phone, utility, mail, or supply expenses.
Determining your business’ income tax liability
If applying for a loan, a year-to-date profit and loss statmement will most likely be required to qualify.  It makes it much easier to obtain when you have monthly bookkeeping. 

​Balance Sheet

A balance sheet provides you with a snapshot of your business’ financial condition at an exact moment in time.

Some benefits of having a monthly balance sheet include:

Quickly getting control on the financial strength and potential of your business
Determining if your business has been minimizing payables on time in order to prevent an unavoidable cash shortage
Determining if your business can easily manage the common financial decline and regrowth of expenses and revenues
Identifying and analyzing any developments. This would mostly be in the area of payables and receivables. For instance, if your receivables are increasing, perhaps you can request your receivables more aggressively.
Determining if your business is in a position for expanding
Determining if immediate steps are necessary to sustain cash reserves

The two most basic and essential elements in providing financial reporting are balance sheets and profit and loss statements. Potential lenders, such as banks, investors and vendors, are always looking at the financial reporting of a business when considering how much credit to grant them.

Clean General Ledger 

The general ledger is the glue of your business’ financial records. These records represent the fundamental “books” of your system. Because every transaction runs through the general ledger, any issue with your general ledger throws off all your books.

By having our office conduct monthly reviews of your general ledger, we can find any discrepancies (such as an unrecorded payment or a double billing). Then, we’ll resolve the discrepancies, keeping your books accurate and in stellar shape.


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