At a minimum, all business owners need a solid set of books to produce reliable financial reports in order to make informed decisions.
Bookkeeping is a systematic way of recording all financial transactions for your business in order to produce financial reports. It involves ensuring account balances on your books are properly supported and reconciled to supporting documents such as bank & credit card statements etc.
Accounting is more concerned with employing standardized principles, interpretation and analysis of financial reports in order to think strategically about your company’s financial health and growth.
In a nutshell, we employ both sound bookkeeping practices and accounting principles and analysis in order to deliver accurate and timely reporting of your business results that you understand and can use to improve and grow your business.
What You Get:
Monthly financial reports such as the Profit/Loss Statement, Balance Sheet and Cash Flow and Other Reports.
A summary of month-end results. (We strive to ensure you understand the financial condition of your company and you understand your financial reports. In other words, we just don’t produce financial reports and leave it to you to interpret everything).
Your estimated tax liability.
A monthly call/meeting to review business results. You can call or email as much as you need in the interim.
You will have 24/7 access from any device to your financial information (and more) should you choose the cloud accounting option. See this link.
Benefits:
A. Enjoy peace of mind.
You know your books and reporting are reliable and timely and therefore are making informed decisions.
Know you’re planning for and setting aside for taxes.
You’ll be ready for a government audit or reviews by lenders, potential buyers or partners.
B. Get your time back.
You’ll get some time back that you could spend on generating sales as opposed to entering receipts, invoices and the like.