Financial Services

Each small business has more important things to focus on than keeping their books. Business owners need to focus on business to generate income, not spend time on the accounting side.  We take care of your monthly bookkeeping for you with the depth and care you require. These processes form the foundation of your firm’s accounting system.  This allows your company to have up to date records that allow owners to make informed decisions. 

Reconciling your business checking accounts each month allows you to keep your bank account, accounting, and taxes current.  With up-to-date reconciliations of your bank account each month, you receive the following benefits:

• 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, but it also can make money for you.
   

Protect yourself with timely reconciling and promptly objecting any unauthorized, fraudulent or forged checks presented to your bank.  You can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. 

Income statements commonly referred to as a profit and loss statement, 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 overtime, fuel or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability. 

A balance sheet gives you a snapshot of your business's financial position at a specific moment in time.

A current balance sheet allows an owner to:

• Quickly get a handle on the financial strength and capabilities of your business.
• Analyze trends, particularly in receivables and payables.  One benefit of this is, it allows a firm to determine where they can become more efficient in debt collection if a client is behind terms.
• Determine  your business growth potential.
• Ascertain if you need to take immediate steps to bolster cash reserves. 

The general ledger is the core of your company's financial records. These records constitute the central lifeblood of your internal financial system. All transactions flow through the general ledger, a problem with your general ledger throws off all your books and makes management difficult. 

Each month we will ensure your general ledger system is operating properly. This allows us to hunt down any discrepancies such as double billings or any unrecorded payments. After an identification of an error, we will fix the discrepancies, so your books are accurate and in compliance. 

Employees are your firms most important asset. Ensuring they are paid correctly and on time is imperative to their and your business’s success.  Since the dawn of modern business practices, payroll has been one of the most complex components to running a business. Organizations need to make sure that all employees are paid with 100% accuracy, and that any calculations relevant to benefits, taxes and other elements related to compensation are respected without error.   If you find calculating and cutting checks is too cumbersome for your schedule, we will take this burden over for you. 

Each quarter you are required to file and pay state, local and federal authorities to stay compliant. If you find this process cumbersome, and time consuming, let us handle these tasks. We will guide you through or take care of 99% for your firm. 

Your accounts payable and accounts receivables are of the utmost of importance. We will support with any level of assistance: from setting up automatic payments each month to pay your bills, to assisting your internal AP/AR team on how best to collect from slow paying customers. 

With our extensive experience we will succeed with the assistance your firm needs.  

At times you may need an outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We will assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that will make your company stronger and more profitable by correcting inefficient or ineffective operating procedures.