Small Business Accounting
Small Business Accounting
As a small company owner you have more vital things to do than to keep your very own books. We look after your books for you, so you can return to the task of running your organization and creating earnings.
Every month or quarter we'll do the following things for you ...
Reconcile your bank account
Produce an income statement
Produce a balance sheet
Tidy up your general ledger
Offer endless consultation
These jobs form the strong structure of your small company accounting system. You can tailor the bundle of services you get from us by including payroll, tax preparation, or any of our other services.
Reconciling your organization inspecting account every month enable us to keep your bank account, accounting, and taxes updated.
Having us reconcile your account monthly enables you to ...
Identify lost checks, lost deposits and unapproved wire transactions.
Identify and avoid excess/unjustified bank charges and makes sure all transactions are posted properly by your bank.
Prevent and identify embezzlement of funds from within your business.
Know how your organization is doing? You cannot truly understand unless all accounts are reconciled and appropriately represented on your financial statement.
Manage your money more effectively. Correct cash management not only conserves yourfinances, it earns money for you.
By promptly reconciling and immediately objecting to your bank about any unapproved, deceitful or unaccounted checks, you can eliminate your company of obligation for the shortage of funds and move the issue to the bank’s responsibility. This step of reconciliation alone is a reason to have proper and objective bookkeeping.
Feel better knowing your checking accounts are reconciled, in balance with all escrow funds, accounts, checks and paid and are appropriately accounted for.
An income statement, otherwise called a profit and loss statement, generally includes of list of all your income and deducts a list of list of all your expenses to come up with an exact earnings or loss amount for the month.
An income statement enables you to ...
Track earnings and expenditures so that you can identify the operating efficiency of your company.
Identify exactly what areas within your organization are under-budget or over-budget.
Determine particular products that are triggering unforeseen expenses. Like phone, supply, mail, or fax expenditures.
Track significant increases in item returns or expense of products offered as a portion of sales.
Identify your earnings tax liability.
A balance sheet provides you a picture of your organization’s monetary condition at a particular time.
A balance sheet assists you ...
Quickly get a deal with on the monetary strength and abilities of your service.
Recognize and evaluate patterns, especially in the location of receivables and payables. If your receivables cycle is increasing, you can work oncollecting your receivables more quickly .
Understand if your organization is in a position to expand.
Understand if your company is properly managing csh flowsand work to lessenexpenditures and increase profits
Identify if you have to take immediate action to reinforce cash reserves?
Understand if your business has been reducing its payables to avoid cashflow problems.
Balance sheets, in addition to income statements, are one of the most standardsof reportingfor lending institutions such as financiers, banks, and suppliers who would be approving or denying credit to your company.
Preserving a Clean and Accurate General Ledger
The general ledger is the core of your business's monetary records. These records make up the main "books" of your accounting system. Because every deal flows through the general ledger, a problem with your general ledger will interrupt your whole bookkeeping system.
Having Lowcountry Accounting Services examine your general ledger system every month enables us to fix disparities such as double billings or any unrecorded payments. We will repair the inconsistencies so your books are constantly up to date and accurate.
We are always available to you so you are in control of the money flow within your business. Please do not hesitate to call us. We are here to help and strive to bring you the most accurate bookkeeping and accounting services.