Businesses of all shapes and sizes depend on accurate, insightful financial information to manage their day-to-day operations, capitalize on opportunities, and sustain profitability. We lend our expert support to meet your accounting needs so that you can focus your time and energy on building a strong business.
Bookkeeping
We’ll work hand-in-hand with your staff to create and maintain a chart of accounts to capture all of your financial transactions, provide the right information to manage your business, and prepare federal, state, and local tax returns. Through periodic internal audits, we will identify and resolve any discrepancies (e.g., double billings, unrecorded payments) to ensure that you have a complete and accurate picture of your complete financial position.
Bank Reconciliations
While a clean set of “books” is a key objective for every accountant, it is also important to match the accounting records with monthly bank statements. Our bank reconciliation services ensure that every deposit and withdrawal matches with entries in your books. This assessment enables us to identify lost deposits, lost checks, unauthorized transactions, and inappropriate bank fees. It triggers investigation into any fraudulent activity (identity theft, forgery, embezzlement, etc.) and expedites restitution. It will also give you more clarity as to your cash position for addressing planned investments.
Financial Statement Preparation
We can prepare a complete set of financial statements to help you assess the health of your business. This package will include:
- A Balance Sheet that gives you a snapshot of your overall financial condition at month, quarter and/or year end
- An Income Statement (aka Profit and Loss Statement) that summarizes revenues, expenses, and net profits so you can assess the operating performance of your business
- A Comparison of Actual Performance to Budget so you can identify the trouble spots in your revenue stream or spending patterns
- A Cash Flow Statement that shows how changes in your Balance Sheet and Income Statement affect your available cash
- Estimated tax liabilities
Our analysis of your financial statements help you frame strategic initiatives (e.g., business expansion, acquisition) as well as tactical plans (e.g., accounts receivable and accounts payable management). Professionally prepared financial statements are also an essential resource when dealing with creditors (e.g., vendors, banks) and investors.
Accounting Systems Set Up
Although there are a lot of accounting systems that are very easy to use, it takes a bit of expertise and foresight to design the system for maximum benefit and effective control. Moreover, a new system set-up or conversion represents the opportunity to address long-standing gaps, inefficiencies, and annoyances.
Although we tailor each engagement to each client’s needs, here is a list of accounting system set up services that we offer:
- Assess accounting and reporting requirements
- Design and implement the charts of accounts, loading balances as of the start date
- Record outstanding accounts receivables and payables
- Enter ending statement bank balances and outstanding checks, deposits
- Enter transactions since the start date
- Compare trial balances from the old and new systems to ensure that all data was transferred correctly
Individual Consultation
When you use our professional accounting services, you get more than just a collection of records and reports. You get the benefit of our skills, experience, and expertise. We are happy to invest the time to make sure that you understand and utilize all of the information we provide. Call us whenever you have a question or concern.