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Small Business Accounting

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each quarter, month, or more often if needed I can do the following things for you:

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•    Reconcile your bank account
•    Generate an income statement
•    Generate a balance sheet
•    Clean up your general ledger

•    Accounts payable

•    Accounts receivable

•    Provide consultations

•    Other services

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 my other services.

Bank Reconciliation

Reconciling your business checking account each month allows me to keep your bank account, accounting records, and taxes up-to-date. Having me 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 ensures transactions are posted correctly by your bank.

  • Detect and prevent embezzlement of funds from within your company.

  • Do you know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.

  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

  • Protect yourself. 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 agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.

  • Sleep better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds have been accounted for properly.


Income Statement

An income statement, otherwise 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 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.

  • Determine your income tax liability.


Balance Sheet

A balance sheet gives you a snapshot of your business's financial condition at a specific moment in time. 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.  A balance sheet helps to:

  • 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, you may need to collect your receivables more aggressively.

  • Evaluate to see if your business is in a position to expand.

  • Decide if your business can easily handle the normal financial ebbs and flows of revenues and expenses. 

  • Discover if you need to take steps to bolster cash reserves.

  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage.

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 me maintain or review your general ledger system each month makes it possible 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.  General ledger services include monthly, quarterly, and annual closing procedures as required.

Accounts Payable

I will validate and verify company bills and invoices to ensure they are legitimate, accurate, and that listed goods or services have been received.  This may include analysis of expense reports and receipts while ensuring the correct accounts are recorded. Maintaining your accounts payable will include retaining receipts and invoices in an electronic format.

Appropriate internal controls will be used to be sure that all vendor invoices are properly accounted for, to prevent inaccurate invoices, and to be certain bills are paid in a timely manner. Payment may be through company check, EFT, or debit transactions.

Managing accounts payable properly can help to maintain an effective cash flow and support favorable vendor relationships.

Accounts Receivable

I can prepare bills and invoices for your clients who’ve purchased products or services. This includes recording transaction date, price, fees, shipping amounts, and discounts (if applicable) then when customers pay, recording payments into the relevant ledger. I can also send bill reminders by email or consult with a third-party collection agency if necessary.

This service may include gathering cash, checks, and other payments received to deposit into the company’s bank account. Further, I will regularly review the accounts receivable ledger to pinpoint discrepancies and correct them.


Keeping track of all invoices, receipts, and deposits makes generating monthly or quarterly fiscal statements less complicated and more accurate.  Staying on top of your Accounts Receivable is critical to maintaining control of your cash flow.


I am always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. I can work with you in a variety of areas to assist you with developing budgets, strategic plans and helping you as a sounding board for management of your business finances.

Consultations by phone or email for contracted services are already included in our price, so please feel free to call whenever you have a question or concern. 

Other Services

Flexibility in supporting your business processes is an important goal for me. There may be other financial, accounting, or bookkeeping services necessary for the specifics of your company. I will work with you to make the focus of your business providing the goods and services that are your expertise. Some examples are:

  • Payroll preparation, processing, and payroll reporting. 

  • Prepare payroll tax reports and pay appropriate agencies.

  • Tax related filings for IRS Forms W-2 and Forms 1099-Misc.

  • Tracking and analyzing inventory status and recommending possible changes.  

  • Implement small business accounting systems.

  • Developing or revising an appropriate chart of accounts.

  • Creating or revising custom system forms such as invoices.

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