Industry Research and Reporting

A business owner should not be running a business based on their bank statements... as so many do. There is so much information that is made readily available through monthly financial reports; income trends, tracking of expenses, principal owed on loans, interests paid, etc. This actionable information allows business owners to make the best business decisions on short notice. Allowing you to leverage your position to seize opportunities as they surface.

Additionally, the IRS and Departments of Revenue of individual States expect businesses to have accurate, reliable, and timely records produced. With accurate and timely bookkeeping small business owners protect themselves against audits, penalties, and fees from both the federal and local governments.

Having professionals work on your bookkeeping means having the peace-of-mind knowing that a job is being completed the correct way. We keep track of all deductible expenses, depreciations, amortizations, and trends - no stone is left unturned.

Last but not least, having your books up to date allows you to seamlessly prepare year-end corporate income taxes, maximize your tax deductions and credits, and maximize your financial and growth plans. Bookkeeping allows us to stay current on company revenues, expenses, and forecasted tax liabilities - this allows the business owner and his team of professionals to more precisely implement tax planning strategies.

Profit and loss (P&L) statement refers to a financial statement that summarizes the revenue costs, and expenses incurred during a specified period, usually a quarter or fiscal year. These records provide information about a company’s ability or inability to generate profit by increasing revenue, reducing costs, or both. P&L statements are often presented on a cash or accrual basis. Company managers and investors use P&L statements to analyze the financial health of a company.

The term balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time. Balance sheets provide the basis for computing rates of return for investors and evaluating a company's capital structure.

In short, the balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. Balance sheets can be used with other important financial statements to conduct fundamental analysis or calculate financial ratios.

The Cash Flow Statement (CFS), is a financial statement that summarizes the movement of cash and cash equivalents (CCE) that come in and go out of a company. The CFS measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses. As one of the three main financial statements, the CFS complements the balance sheet and the income statement. 

Bookkeeping is the process of recording, organizing, and tracking financial transactions for a business or organization.

The benefits of bookkeeping services include accurate financial statements, improved cash flow management, better tax planning, and reduced accounting costs.

We offer a range of bookkeeping services, including recording transactions, reconciling accounts, preparing financial statements, and managing cash flow.

Yes, we can customize our bookkeeping services to meet your specific needs and budget.

Yes, we take data security seriously and have measures in place to ensure the confidentiality and security of your financial information.

Yes, we can help you prepare for tax season by ensuring that your financial records are accurate and complete and by providing you with the necessary financial statements and reports.

The time required to complete bookkeeping tasks depends on the scope of work and the complexity of your business's financial transactions.

If there are errors in your financial statements, we will work with you to identify and correct the errors as quickly as possible.

Yes, we can help you with budgeting and forecasting by providing you with financial reports and insights into your business's financial performance.

Bookkeeping involves recording and organizing financial transactions, while accounting involves interpreting and analyzing financial information to make business decisions.

Yes, we offer payroll services, including calculating employee wages, filing payroll taxes, and issuing paychecks.

Yes, we can help you with accounts payable and accounts receivable by managing vendor payments and invoicing customers.

You can get started with our bookkeeping services by scheduling a consultation with one of our bookkeeping experts.