Invest Your Time in Growing Your Business
Spending excessive time on non-core functions, such as accounting headaches, regulatory compliance, troubleshooting software issues and similar daily business challenges is keeping you from growing your business to its full potential. You need that time to focus on developing the core products or services that you offer to your customers and to understanding and meeting your customers' needs.
Benchmark the Present and Budget for the Future
You need a periodic snapshot of your company's financial performance so you can make adjustments and allocate resources most effectively. Well organized, reliable financial statements will also serve as the foundation for budgeting and planning for future business growth.
Identify and Eliminate Unnecessary Risks
Internal and external risks are constantly lurking to ambush and damage your business. The potential risks range from fraud exposure due to weak internal controls to non-compliance with various governmental regulations. The financial and operational consequences for ignoring an issue that could be easily and inexpensively addressed can be significant. A simple third party review of your current processes and environment can help to alleviate unnecessary risks.
Leverage Our Knowledge, Talents and Resources
The Small Business Services team brings a broad range of knowledge, talent and resources to serve you and your business. Our simple goal is to clearly understand your business needs and goals, and to partner with you in finding ways we can function as a trusted advisor and service provider.
- Monthly bookkeeping, reviews and compilations of financial statements
- QuickBooks and Peachtree consulting
- Loan negotiations
- Vehicle buy / lease consultation
- Risk management and internal controls
- Human resource consulting / employment compliance issues
- Fixed asset analysis
- Payroll tax returns and reports/ 1099s
- Sales tax returns
- Property tax returns
- Income tax returns
- Business succession planning
- Cash flow and budgeting analysis
Each month or quarter we'll do the following things for you...
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 allows us to keep your
bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to...
- 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, it makes money for you.
- Protect yourself. By timely reconciling and
promptly objecting to your bank about any unauthorized, fraudulent or forged
checks presented to your bank and paid by that bank, you can relieve your business
of responsibility for the shortfall and transfer the risk to the bank. This
reason to reconcile alone should be enough. Crime exists.
- Sleep Better. You will sleep more
peacefully at night knowing your bank accounts are reconciled, in balance and
that all escrow funds, accounts, checks and disbursed funds are properly
accounted for.
Income Statement
An income statement, otherwise known as a profit and loss statement,
basically 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 phone, fax, mail, or
supply expenses.
- Track dramatic increases in product
returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.
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...
- Quickly get a handle on the financial
strength and capabilities of your business.
- Identify and analyze trends, particularly in the area of
receivables and payables. For example, if your receivables cycle is lengthening,
maybe you can collect your receivables more
aggressively.
- 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?
- Determine if your business has
been slowing down payables to forestall an inevitable cash shortage?
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.
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 each month allows us
to hunt down any discrepancies such as double billings or any
unrecorded payments. Then we'll fix the discrepancies so your
books are always accurate and kept in tip top shape.
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.
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