Accurate and timely accounting is vital to every business owner’s success. Firm grasp on where your business has been, and where it is going will help you make intelligent business decisions. Having our Tax Accountants handle your small business accounting in New York is a great way to streamline your operations and increase profitability.
Running a small business is already hard enough without also worrying about accounting and bookkeeping. That’s where we come in. Our Small Business Accounting services result in saving a lot of time and effort that can be used towards other areas directly related to your core business, such as sales, services, products, and clients. We take care of your books, so you can get back to running your business and generating profits.
Each month or quarter we’ll do the following 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 processing, tax projections & planning, quarterly tax filings, cash flow analysis, 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:
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:
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.
A balance sheet helps you:
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.
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 or email us whenever you have a question or concern. We will also schedule one hour over-the-phone consultation every quarter to go over your finances and taxes.
If you’d like to receive more information about our Small Business Accounting services, please complete the form below.