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Accounting

New Establishments/Existing Buinesses

  • Free Initial Consultaion
  • Study your business and design appropriate Accounting System
  • Set up /Review your Company file in QuickBooks
  • Set up/Review your items, Inventory, non-inventoy, Servises and other items
  • set up your Customers and Vendors
  • Set up your payroll and related items
  • Record and establish the initial balances and the Opening Balance Sheet
  • Record transactions from the start of business to date
  • Provide training to Accounting Staff and Provide Continous Support
  • Periodic Review of general ledger and Bank Reconciliation to assist in management reporting
  • Year end closing of accounts and assist in preparation for tax returns
  • Prepare quarterly and annual tax returns, 1099s, 1096s and W-2s

Each month or quarter we'll do the following things for you...

  • Reconcile/Review your bank accounts
  • Generate/Analyze Profit and Loss Statement
  • Generate Balance Sheet
  • Review and clean up general ledgers
  • Ongoing consultations

We offer a full service accounting to our clients which includes payroll and tax preparation. These tasks form the solid foundation of your small business accounting system.

Bank Reconciliation

Performing this task for your checking accounts allows us to:

Know how your business is doing? It is very important that you do bank reconciliation before relying on the Profit and Loss and Balance Sheet Reports.

Ensures that there are no posting errors by your bank
Detect and prevent mis use of funds from within your company.

Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

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.

Your piece of mind: knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Profit & Loss Statement

A profit and loss statement, basically keeps an itemized list of your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

It 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 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?

These two financial statements, Balance Sheet & Profit & Loss Statements, are your resources that you may provide to potential out side users, like banks and other financial institutions. Therefore, having reasonably accurate and up to date statements are very important for your ability to generate funds when the need arises.

Review and Clean up 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 or quarter 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.

Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

 
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What we do…
Accounting & Internal Control
System Design & Set Up
Bookkeeping
Payroll & Payroll Taxes
QuickBooks® Installation, Set up,Training & Support
Individual & Business Income Tax Returns
Consulting
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