| Business Accounting and Payroll
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 generating profits!
We offer several vital services to assist
you and your business. Each month or quarter
we can 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.
Reconciling your business checking account
each month allow 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
* 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. 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
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
* Track revenues and expenses so that you
can determine the operating performance of
* 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 gives you a snapshot of your
business' financial condition at a specific
moment in time.
A balance sheet helps
* 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
* Determine if your business is in a position
* Determine if your business can easily handle
the normal financial ebbs and flows of revenues
* 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
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.
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.
As a business grows, it must hire more employees,
which can result in increased payroll administration.
We can assist you in implementing the controls
necessary to ensure a reliable, efficient,
and effective payroll system. Our firm can
also help you develop a payroll system and
prepare all necessary payroll tax returns
in a timely manner.
Our Payroll services range from review to
complete processing. If you have someone in
house or a payroll service, we can review
and help manage the transactions. Some companies
do their own regular payroll and we set up
monthly payroll withholding payments to the
various government organization including
federal withholding and Social Security (Internal
Revenue Service), state withholding, state
unemployment and federal unemployment. We
can prepare and file the necessary monthly,
quarterly and annual forms including federal
(941, 940), state withholding, state unemployment
and local, if required.
We can also act as your company's payroll
department. We can prepare payroll, cut checks,
direct deposit into employee bank accounts
from the business’s payroll account,
prepare and schedule direct payment of tax
As with all of our services, we will design
the services around your needs.
We are always available to spend time with
you so you fully understand how to interpret
and utilize the financial information we provide.
Feel free to call us
whenever you have a question or concern.
If you'd like to receive a Free Consultation
on our Small Business Accounting Services,
please contact us at (843) 290-8080 or email
us with your name and email at firstname.lastname@example.org.