As an individual you have more important things to do than to keep your own books. We take care of your books for you, so you can be free for more enjoyable pursuits!
Each month or quarter we'll do the following things for you...
These tasks form the solid foundation of your personal accounting system. You can customize the package of services you receive by adding payroll for household employees, or any of our other services.
Bank Reconciliation
Reconciling your personal checking account each month allows 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.
- Know how your financial position 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.
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 income and expenses so that you can determine your tax liability.
- If you are working within a budget, determines what areas you are over-budget or under-budget.
- Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
A balance sheet gives you a snapshot of your personal financial position at a specific moment in time.
A balance sheet helps you...
- Quickly get a handle on the financial position of your personal assets.
- Identify and analyze trends, particularly in the area of personal liabilities such as credit card and loan balances.
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 Ledger
The general ledger is the core of your personal financial records. These records constitute the central "books" of your personal transactions, especially for tax purposes. 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 deposits and payments, 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 always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.
