BOOKKEEPING
solutions
A full-cycle bookkeeper is a liaison between you and your Certified Public Accountant (CPA), performing all aspects of bookkeeping: accounts payable, accounts receivable, payroll, data management, account reconciliations, recording journal entries, creating detailed reports, software training & interfacing, and we work with your CPA to ensure that your taxes are filed correctly and on time.
BUSINESS TRANSACTIONS ANALYSIS
TRANSACTION
ANALYSIS
Accounting transaction analysis involves documenting every transaction that has an impact on your company’s finances. This recordkeeping step is very important in the accounting process and helps to show how your business transactions impact your assets, liabilities, and equity.
TRIAL BALANCE
PREPARATION
The trial balance is prepared after posting all financial transactions to the journals and summarizing them on the ledger statements. The trial balance is made to ensure that the debits equal the credits in the chart of accounts.
JOURNAL ENTRY
ADJUSTMENTS
An adjusting journal entry is an entry in a company’s general ledger that occurs at the end of an accounting period to record any unrecognized income or expenses for the period.
CHART OF ACCOUNTS
MANAGEMENT
Charts of accounts should be organized with simplicity in mind. Most QuickBooks Online plans, for example, support up to 250 accounts. The average small business shouldn’t have to exceed this limit if its accounts are set up efficiently.
SYSTEM GENERATED
FINANCIAL STATEMENTS
The trial balance is prepared after posting all financial transactions to the journals and summarizing them on the ledger statements. The trial balance is made to ensure that the debits equal the credits in the chart of accounts.
BOOKS
REVIEW
The objective of a financial “review” conducted by an independent auditor is to examine the nonprofit’s financial statements and determine whether the financial statements are consistent with generally accepted accounting principles.
MONTH-END
CLOSES
Most businesses, however, close their books at the end of each month. Sending out customer statements, paying your suppliers, reconciling your bank statement, and submitting sales tax reports to the state are probably some of the tasks you need to do every month. You may find it easier to do these if you close your books.
CATEGORIZATION & RECONCILIATION
BANK
RECONCILIATIONS
A bank reconciliation is the process of matching the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to ascertain the differences between the two, and to book changes to the accounting records as appropriate.
CREDIT CARD
RECONCILIATIONS
With our free consultation, you can gain a better understanding of how we can help your business. Not all businesses are created equally, so book a free consultation today, or subscribe right away to one of our packages.
VENDOR
RECONCILIATIONS
Vendor reconciliation is the statement that shows the difference of company payable to vendor outstanding balance and vendor A/C balance. It is reconciled from the account balance of the company as well as the vendor.