We review specific accounts and provide the transaction detail.  Unusual items are investigated, explained, and 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