As a part of either our on or off-site services we will manage your accounting journals, keeping track of sales, receipts, and disbursements. These journals record the details of day-to-day business, clearly marking both debits and credits to a business’ accounts.
We will manage your accounts receivables. This incorporates tracking payments owed to your business, issuing invoices and receipts, and taking proper steps to ensure collection of overdue payments.
Our accounts payable management includes tracking your business’ owed payments to vendors and other business.
We will file your quarterly tax reports and make the proper associated payments.
General Ledger Maintenance
A general ledger keep tracks of the big picture finances of a business. This ledger, like financial journals, records credits and debits to a business’ account, along with amounts owed to the business, and outstanding amounts due by the business. These records are for a business to maintain so they can make informed business decisions based on liquid assets, cash flow, and profits.
We will supply your business with financial reports. These reports will be overviews of profits and loses over time, projected growth, and breakdowns of financial responsibilities.
Our statistical analysis will provide business with visual representations of business growth, credits, and debits over time, and will include projections based on past tendencies.
Cash Flow Management
Cash flow is one of the most important aspects of business finance. Cash flow management ensures that your business achieves positive cash flow, or trends toward achieving positive cash flow. Positive cash flow occurs when business income from sales and accounts receivable exceeds expenses from accounts payable, and other expenses.
Bank Account Reconciliation
Bank account reconciliation typically occurs once a month. Your bank will send you an account statement for the month with account totals and transactions. These values will be compared to the values found inside of your general ledger to verify that actual business transactions are reflected correctly in your records.
Credit Card Reconciliation
Like bank account reconciliation, credit card reconciliation takes place after the company that processes your business’s credit transactions sends you a statement detailing your credit card transactions for a month. We look for discrepancies between what your credit card processor reports and what your books state, and reconcile those differences.
Sales Tax Reporting
Sales tax must be paid separately from your business’ income tax. We will calculate your owed sales tax every period, and ensure that it is paid.