BOOKKEEPING SERVICES

Profit and Loss / Income Statement

Owner's Equity Statement

Balance Sheet Statement

Cash Flow Statement

TYPES

Formal and standardized accounting reports that summarize a company's financial performance and position

FINANCIAL REPORTS

DEFINITION

BENEFITS

Determine Cash Flow

Identify Inflows and Outflows of Assets, e.g., Inventory, Cash

Measure Business Performance

Reports for Investors and Lenders

BENEFITS

Identify Tax Deductions, Refunds, Liabilities

Amend Taxes

Prevent / Prepare for Audits

Obtain Business Loans, Investments

Organizing, correcting, and updating financial records to ensure they are accurate, reliable, and current

(aka, Cleanup)

DEFINITION

BOOKS OVERHAUL

Tax Planning

Determine future opportunities and difficulties

Inventory Management

Benefits Planning

Determine Liabilities - Short and Long-Term

Informed Financial Decision-Making

BENEFITS

DEFINITION

A company's monetary plan and objectives for a period, e.g., weeks, months, year

BUDGETING

Balancing internal and external records

BENEFITS

DEFINITION

Ensure Accuracy of Financial Records

Detect Errors and Fraud

Compliance with Regulatory Entities

Cash Flow Management

RECONCILIATION