As a small business owner, you need to put all your effort and energy into running your business. That means making sales, getting customers, and keeping them happy, NOT keeping your own books. That’s where we come in. We’ll take care of your books, so you can take care of your customers.
To help you achieve the success you deserve, the following are some of the services we can provide to you on a monthly or quarterly basis:
We will ensure that your business checking account is up to date each month or quarter. This will give you peace of mind about a number of issues, including:
- Lost checks, lost deposits and unauthorized wire transactions
- Excess bank charges
- Correct posting of transactions
- Embezzlement of funds from within your company.
- Knowledge of how your business is doing right at your fingertips
- Effective cash flow management
- Protection of your business finances by timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks.
An income statement, or profit and loss statement, adds an itemized list of all of your revenues—what you have coming in-- and subtracts an itemized list of all your expenses—what you have going out-- to come up with a profit or loss for a period.
An income statement allows you to...
- Keep track of all areas of your business
- Determine where you are over or under budget
- Identify items that are too costly.
- Track increases in product returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.
A balance sheet provides you with a picture of the financial condition of your business at a moment in time of your choosing.
With a balance sheet, you can:
- Get a handle on the financial strength and capabilities of your business
- Identify and analyze trends
- Determine whether or not you are ready 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 ensure you have more money available for immediate needs.
You will need both balance sheets and income statements if you are looking for funding from investors or potential creditors.