Bookkeeping

Undervalued by many, bookkeeping is the vertebral column of any well-run business. The bottom line is that it does not matter how strong your sales are, or how good the products or services you offer are, if at the end of the day you do not know what your actual profit is, how to manage your expenses and what your net results are before and after income taxes. A well-done bookkeeping could save you thousands of dollars on taxes, or penalties and will be a solid foundation to grow your business.

We use state of the art software to do your books. These applications can be tailored to provide you with as little or as much access as you need to operate your business. Your data will be properly backed up and several measures will be put in place to minimize the risk of business interruption.

Financial statements

Inputting data in an accounting application is not useful unless this data is properly analyzed, classified, and totalized to prepare your business financial statements.

There are two statements that should be prepared at least once a year for every business: the Balance Sheet and the Income Statement (also known as the Profit and Loss statement). At minimum they are needed once a year to prepare the business tax return. However, we strongly encourage our clients to prepare them every month or at least every quarter.

Preparing a monthly or quarterly financial statement will help you to identify trends, such as; sales seasonality, the gross margins on your products, payroll expenditures, utilities, consultants, and most importantly, how much profit you are making.

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Management reports

Management reports can be a helpful tool to manage your day to day operations.

Our state of the art accounting applications allow you to view many of these reports, right at your fingertips, while we prepare or customize other reports for you.

Accounts receivable management

We can prepare the accounts receivable aging report of your company. Additionally, we can also reconcile the invoices issued vs. payments received from each customer account while simultaneously supporting your business collection efforts.

Accounts payable management

We can support you managing your cash flow by advising you on what you owe to other businesses.

Budgeting and Forecasting

Understanding where you are going. It is not uncommon for small and midsize businesses to operate year after year without clear direction, goals and targets.

If you do not know where you want to go, you will never get there!

We are here to help you preparing a cohesive forecast that will provide you with clear targets and goals to pursue in the short or long term.