Accounting Services
Toll Free: (877) 394-5550
DETAILS
We review specific accounts and provide the transaction detail.
Unusual items are investigated and explained. Corrections are
made accordingly. For example, an analysis of Equipment Expense
could result in the reclassification of large dollar items to
Fixed Assets. In addition, depreciation expense would be
calculated and recorded.
Bank Reconciliations
We compare the transactions on your bank statements with those
in your accounting books and reconcile the balances. You
receive a detailed list of all the reconciled items (deposits
received by the bank and checks that were cleared), as well as
all outstanding items. We adjust your accounting records
accordingly for any missing transactions and investigate all
discrepancies.
Bookkeeping
We record your company's financial transactions accurately and
efficiently into an accounting system designed specifically for
your industry. Budgeting We highly recommend the preparation of
an annual budget for income and expenses. This budget is based
on historical information and incorporates any foreseeable
changes for the upcoming fiscal year. We will then spread this
annual budget into monthly amounts in order to monitor
differences between actual and budgeted numbers.
Computerized Accounting (QuickBooks)
We use QuickBooks accounting software for all your accounting
needs. We also provide training if you decide that you want to
have your own staff enter the financial transactions. In that
case, we would review your financial statements monthly to
ensure accuracy.
Financial Statement Preparation
We will prepare and review your Balance Sheet, Income Statement,
and Statement of Cash Flows.
A Balance Sheet, or Statement of
Financial Position, is a financial photograph of your company at
a given point in time. It consists of 3 parts:
▪ Assets (what you own)
▪ Liabilities (what you owe)
▪ Equity (what you're worth)
An Income Statement, also called a
Profit and Loss Statement, tells you if your company is making a
profit for a specific period of time. It lists the following:
▪ Sales/Revenues
▪ Cost of Goods Sold (if applicable)
▪ Expenses
A Statement of Cash Flows shows how
cash is affected according to the following type of activities:
▪ Operating
▪ Financing
▪ Investing