Accounting
Online Accounting Relief
We offer Accounting Relief, an ideal accounting package that lets you collaborate with us by entering checks, deposits, or bookkeeping transactions on the same system we then use to analyze your trial balance and prepare your financials. We are able to customize this system for your benefit, so that it provides an ideal comfort level depending on your needs and your background in accounting. Because this system is Internet-based, both of us can log in to it securely, without the cumbersome process of transferring data back and forth between your computer and ours. (more information)
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 quarterly allows us to hunt down any discrepancies such as double billings or any unrecorded payments.
Manage 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.
- Identify specific items that are causing unexpected expenditures. Like Repairs, phone, postage, or supply expenses.
- Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
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. You can 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?
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, factoring company, investors, and vendors who are considering how much credit to grant you.
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.
- Manage your cash more effectively.
- 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.
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