Small Business Accounting

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

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 ensures your bank account, accounting, and taxes remain current, allowing you to identify lost checks and deposits, unauthorized transactions, and prevent unjustified bank charges while ensuring proper posting. This process helps detect potential embezzlement, provides a clear picture of your business's financial health, and aids in effective cash management, ultimately saving and generating money. Additionally, timely reconciliations protect you against unauthorized transactions, transferring the risk to the bank, which is a crucial reason for maintaining regular reconciliations. Ultimately, it provides peace of mind, knowing your accounts are balanced and all funds are accurately accounted for.

 
Income Statement

An income statement, or profit and loss statement, summarizes your revenues and expenses over a specific period to reveal your profit or loss, allowing you to monitor business performance, identify budget discrepancies, pinpoint unexpected costs, track changes in product returns or cost of goods sold, and calculate your income tax obligation. 

Balance Sheet

A balance sheet provides a snapshot of your business's financial condition at a specific moment, allowing you to assess its financial strength and capabilities, identify trends in receivables and payables, and evaluate whether your business is in a position to expand or manage its cash flow effectively. It helps determine if immediate actions are needed to bolster cash reserves or if there is a slowdown in payables that may indicate a potential cash shortage. Additionally, balance sheets, along with income statements, serve as fundamental components for financial reporting to potential lenders, investors, and vendors assessing your creditworthiness.

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.