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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...

* Reconcile your bank account
* Generate an income statement
* Generate a balance sheet
* Clean up your general ledger
* Payroll Ledger
* Provide 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, tax planning, tax preparation, or any of our other services.

Bank Reconciliation

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 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. 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 for.

Income Statement

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 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.

Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

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?

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.

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.


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 deposits, etc.

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 info@davidshatz.com.



Mailing Address Hilton Head Island Office Bluffton Office
P.O. Box 22677
Hilton Head Island, SC 29925
The Professional Building, Suite 303
2 Corpus Christie Place
Hilton Head Island, SC 29928
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181 Bluffton Road, Magnolia Village, Unit A-104
Bluffton, SC 29910
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  Telephone: 843 290-8080
Fax: 866 611-0201
Skype: davidshatz
Email: info@davidshatz.com
  “Professional, Reliable and Affordable”