Having an accountant you can trust means you’re able to focus on running your business and generating profits. Each month or quarter, we’ll take the most time intensive work off your plate. The services we offer are listed below, but we are happy to customize the packages of services you receive including adding payroll, tax planning and preparation, or other services – just ask!
Let us take care of reconciling your business checking account each month and keeping your accounting and taxes up to date. You know your business inside and out, but having an outside firm reconcile your account each month gives you a fresh set of eyes on your numbers. In reconciling your accounts, we will help to identify any lost checks or deposits and ensure proper posting of all transactions. You can count on us to provide a realistic financial picture each month of how your business is doing. We’ll provide a means to manage your cash effectively to save money and increase profits.
Income statements, or profit and loss statements, show itemized lists of all your revenues and expenses to show whether your business has come up with a profit or loss for a certain period. We’ll do the work of preparing your income statements so you can determine which areas of your business are over or under budget and track the operating performance of your business. Regular income statements will allow you to track dramatic increases in product returns and cost of goods sold and to identify specific items causing unexpected expenditures so you can adjust where needed.
Along with income statements, balance sheets 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 good balance sheet is a snapshot of your business’s financial condition at a specific moment in time. We’ll generate your balance sheets so you can focus on the picture it paints of the financial strength and capabilities of your business. Balance sheets can help you identify and analyze trends in receivables and payables, determine whether you’re ready to expand or if steps need to be taken to make sure you have enough cash on hand.
The general ledger is the core of your company’s financial records; they are your “books.” Since every transaction flows through the general ledger, a problem here can throw off all your books. Having the bookkeepers at Birch Bay Tax and Accounting review your general ledger each month allows us to find and fix discrepancies. Double billings and unrecorded payments will be a think of the past, and your books will be accurate and kept in tip top shape.
As part of our service, we are always available to spend time with you to answer questions and help you understand how to best utilize the financial information we provide. We believe that interacting with our clients and helping them understand how their finances run is important. Phone consultations and meetings are included in our basic prices, so you don’t have to make a decision about whether a question is important enough to take up our time.