Small Business Accounting

As a small business owner you have many important things to make your business successful: producing your product, promoting your services, sale, collection of your accounts, dealing with venders, hiring the right employees, etc.  Keeping accurate accounting records is equally as important. Making the business of being in business is your business.  Your time is valuable.  Let us take care of your books for you, so you can get back to the job of running your business and generating profits!

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

• Reconcile your bank account
• Generate a Statement of Profit and Loss also known as an income statement 
• Generate a Statement of Assets Liabilities and Equity also known as a balance sheet
• Explain your reports and what they mean to you
• Clean up your general ledger
• Provide tax and business consultations
• Write your payroll and payroll tax reports
• Assist in compliance with Federal and State requirements
• Prepare year end tax forms

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services as you need them.

 
Bank Reconciliation

Reconciling your business checking account each month allows 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 ensure transactions are posted correctly by your bank.
   
• Detect and prevent embezzlement of funds from within your company. Protect yourself. Crime exists. 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 company of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. 
  
• Know how your business is doing.  All accounts are reconciled and properly accounted for on your financial statements.
   
• Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
    

An income statement, otherwise known as a profit and loss statement, is 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 any period.

An income statement 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.
• Allows you to make period to period comparisons to help make important business plans to achieve your objectives.
   
• 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. In a glance it shows what do I own, what do I owe, and what is my net worth.

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 your business can easily handle the normal financial ebbs and flows of revenues and expenses? 
   
• Determine if you need to take immediate steps to bolster cash reserves?
   

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.

SERVING: Black Creek, Seymour, Shawano, Waupaca, Appleton, Green Bay, Pulaski, Sobieski, Oneida, Freedom, Kaukauna, Fox Cities, Outagamie County, Brown County, Waupauca County, Shawano County, Winnebago County, Calumet County, Wisconsin, Michigan, Minnesota, Georgia, Alabama, Florida, Illinois, and all around the USA!

CLIENTS INCLUDE: Government Entities, Fiscal Intermediary, Fiscal Agent, non-profit organizations, indiviuals, Small Business, household employers, construction, manufacturers, retail, and more.

PRODUCTS INCLUDE: individual income tax, business corporate tax, LLC formation, business consultation, inventory maintenance, QuickBooks set up, QuickBooks clean up, Accounting, Bookkeeping, payroll, payroll taxes, tax advisement.

 
Consultations

The number 1 compliment received by this firm, by its business and individual clients is the appreciation they have for the consulation received with each project.  Staff are available to spend time, one on one, so our clients understand how to interpret and utilize the financial information we provide. These valuable opportunities for consultations are provided free of additional fees to our clients.  Clients always feel welcomed to call us whenever they have a question or concern.