Small Business Accounting
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 for you, so you can get back to the job of running your business and
watching your profits grow!
Each month or quarter we’ll do the following things for you…
Reconcile your bank account
Generate an income statement
Generate a balance sheet
Clean up your general ledger
Provide unlimited consultations
These tasks form the solid foundation of your small business accounting system.
You can customize the package of services you receive by adding payroll,
or any of our other services.
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 agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough.
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.
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?
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.
We are always happy to share time with you so you better understand how the financial information we give is interpreted and then used. Our consultations are included in our monthly price, so please do not hesitate to call us any time you have a question or concern.
If you contact us you will not hit an absurdly long phone line. At Small Business Services LLC we give the excellent consulting service we would like to experience ourselves! Let us know your requirements and we’d contact you within 24 hours.
As a multinational service provider, we’re making sure our operations department is ready to work on the project 24/7. We adapt our schedule to yours to make sure our flexibility allows us to represent you within your own time zone. You can also email us to………………………