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We believe that the financial discipline in a business is the biggest factor in success. Once I asked a world famous business man about his secret of success. He told me that the financial discipline with in the business is the secret of success. He said that, he maintained accurate financial records through an accounting professional from the beginning. At the beginning he did not have much knowledge of bookkeeping or time to maintain proper set of books of accounts. He received a service from a professional who directed him to receive financial disciple with in the business.
He started very small. Now he is a multinational multi million dollar business man.
When you keep proper record of all income and receipts and all expenses and payments, you will automatically get in to good practice of financial discipline. You will know where you are going. You will see the danger zones in your business. You will be able to remedy all dangers timely. You will see your comfort zone in your business where you can take vice decisions in your business. Burden Free Business Operation for Success
Most of small business owners do not have time to supervise a book-keeping or accounting staff. Also it is not necessary to maintain a large accounting staff for a small business. It is costly and time consuming.We have an especially designed program for small business owners. What ever the situation of accounting and book-keeping in the business we will handle them.We will maintain accounts in our computers which you will be able to access from your office. If you have used any computer software before or not, we will handle your accounts. We will undertake the transition.
Bank ReconciliationReconciling 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...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. 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 are properly accounted for. 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' financial condition at a specific moment in time.A balance sheet helps you...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, maybe you can collect your receivables more aggressively. Determine if your business is in a position to expand. Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses? Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?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.
Maintaining a Clean General LedgerThe 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 us review your general ledger system each month allows us 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.
Unlimited Consultations We are available when you need us. We will give unlimited consultancy