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...
Running a small business takes time and dedication, and if
you are like most small business owners, you have already got a lot on your
plate. Why add accounting to your
ever-growing list of responsibilities when our team is on hand to help? We 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 our team will do the following things
for you...
• Reconcile
your bank account
• Generate
an income statement
• Generate a
balance sheet
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll services, GST/PST/WCB filings, tax preparation, or any of our other services. Please contact us to customize your bookkeeping package.
Income Statement
Bank Reconciliation
An income statement, also 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 assists you to...
Small Business Accounting
Balance Sheet
Allows
you…
Helps
you…
Assists
you...
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.
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
Determine if your business is in a position to expand.
Balance sheets, along with income statements, are the most fundamental elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
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.
Determine your income tax liability.
A balance sheet gives you a snapshot of your business' financial position at a specific moment in time.
A balance sheet helps you...