As a small business owner, your priority is to oversee the daily operations of your business. We take care of your books and payroll so you can focus on generating profits.
Reconciling your business checking accounts each month allows you to be worry free knowing that all checks, deposits and charges are properly accounted for. There have been lost checks, lost deposits, unauthorized wire transactions and bank errors that we have identified.
The Income Statement is also known as a profit and loss statement. It is a summary of all itemized revenues subtracted by all itemized expenses to come up with a profit or loss for the period. It allows you to track revenues and expenses to determine the operating performance of the business. It identifies which items are causing unexpected expenditures or if the business is over or over the budget. It also determines the company’s income tax liability.
The Balance Sheet provides the financial strength of the business. You can identify and analyze the trends such as the accounts receivables and payables. If the receivables are aging more than the allowable terms, you may need to focus on collecting more aggressively. The Balance Sheet determines if the business is in a position to expand. Lenders such as banks, investors and vendors rely on the financial statements to consider how much credit they should grant you.
Payroll is a time consuming activity for the business owner. We run your payroll and print them on laser checks. Payroll taxes are processed through EFTPS, federal and state reports are filed electronically. You get weekly, monthly, quarterly, and annual reports including W-2, W-3, 1099’s and 1096 Forms. We keep track of your employees’ benefits such as vacations, sick time, or health insurance benefits.