As a small business owner, you have many tasks on your list! However, it's very important that you have accurate accounting/bookkeeping. While we generally do not do the day-to-day bookkeeping for you, we are available to consult with you on your choice of accounting software, setting up your books, and reviewing your accounting records during the year. 

We typically offer these services on an hourly basis, so you only pay for what you use. 

For a couple self-employed clients, we have taken their monthly bank and credit card statements, and created profit and loss reports from those statements. This work typically takes 1 - 3 days, depending on your complexity and transaction volume, and we charge by the hour for this work. 

Please contact us if you wish to discuss your accounting situation. 

 
Bank Reconciliation

Reconciling your business checking account each month is CRITICAL for you to have any chance of keeping your accounting records accurate. If you need help with this important process, please contact us. 

 
Income Statement

An income statement, otherwise known as a profit and loss statement or an operating statement, provides you with the list of all your revenues and expenses, so that you know if you were profitable or not for the accounting period. 

To have any chance of an accurate Income Statement, you must enter and reconcile your monthly bank statements and credit card statements. 

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 results (whether positive or negative!). 
  
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  
• Provide the basis for an accurate income tax return. 

If you need assistance with your Income statement, or wish to discuss it, please contact us. 

 
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:

• understand the financial strength and capabilities of your business.
  
• identify and analyze trends, particularly in the area of receivables and payables. 
  
• 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.

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.

If you wish assistance with your balance sheet, please contact us. 

 
Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll work with you to fix the discrepancies so your books are always accurate.

 
Consultations

We are available to work with you so that you fully understand how to interpret and utilize your financial information. We LOVE the education part of our work! If you would like to learn more about accounting, your business's books, and how to best keep them accurate and then use the good information they provide, please contact us.