These services are more involved than the general bookkeeping services, it gets more into financial systems. They can be one-time projects or ongoing periodic services, as well as, in addition to bookkeeping services I provide or as an independent and solitary service depending on what your business needs
Financial Statements refer to the Balance Sheet, Income Statement (profit & loss), Statement of Equity & Statement of Cash Flow. These can be prepared regardless of your accounting basis and structure whether it's cash basis, accrual accounting or project based. This servicee can be provided in addition to bookleeping services or as a stand alone service regardless of who handles your bookkeeping. The frequesncy can be adhoc, monthly, quarterly or annually
Regardless if it's a new business that wants to see if they are doing it right, or an established business that wants to make sure they haven't became camplacent with their habits, this can benefit most at some point in time. I will dive into the financials focusing on the expenses and do an independent review looking for duplication of services, excessive or unnecessary spending, rates above the normal market level and report my findings along with corrective recommendations
To truely know if your bookkeeping and financial statements are accurate is to reconcile all of the balance sheet accounts against whatever documentation proves their value. Ideally andconsidered a best practice is to do this to monthly, but that isn't always feasible for every business. This can be added on to other services or provided independently at any desired frequency
For those businesses that have an audit coming up, in addition to the balance sheet reconciliations, they will need additional schedules and reports prepared for the auditors that essentially support their financials. This is true of all audits, internal and external
Every business and household needs at minimum some sort of financial budget, for businesses revenue forecasting goes right along with it. If the need for assistance with this arises due to inexperience, staff turnover, or changes in business natiure or climate I can assist
If a business only has one employee in addition to the owner or 100, payroll must be processed. This can be done on a weekly, bi-weekly, twice a month, or monthly basis. In addition to the actual processing and distribution of the payroll itself, the service includes payroll tax filings, withholdings and reporting including garnishments and W2's, so you can keep your focus on the more integral financial components.
This is as close to an audit as I can do without actually stopping and becoming a CPA. I will do a complete and thorough review of your financials, accounting systems and policies and report how not only your financials are but how the whole department is doing
This is a most frequently needed list of financial services and is in no way all inclusive. Additional services available upon request and ready to be tailored to your specific needs.
All the work is in accordance with the Generally Accepted Accounting Principles (GAAP) as set forth by the Financial Accounting Standards Board (FASB)
Copyright © 2022 12 Bar Accounting Services All rights reserved.
Powered by GoDaddy
Consultations are always free for new or additional services for new or existing clients!