Small Business Accounting

Small business owners have more important things to do than to keep their own books, things like running their company and doing what they love to do. We take care of your books for you, so you can do what you love and your business can generating profits!

Each month or quarter we'll do the following things for you...

These tasks are the foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services as needed.


Bank Reconciliation

Reconciling your companies checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

By reconciling 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.
  • Verify that all income and expenses have been accounting for. You can't really know how your company is doing unless all accounts are reconciled and properly posted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • 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 business of responsibility for the shortfall and transfer the risk to the bank which saves you money.
  • Avoid the concerns about your bank account, knowing your bank accounts are reconciled, in balance and that transactions properly accounted for.


Income Statement

An income statement, otherwise known as a profit and loss statement, basically list all money earned and subtracts all expenses to come up with a profit or loss for the period.  Our office will be able to determine what are expenditures and what are tax deductible expenses.

An income statement allows you to...

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.


Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific date in time which is typical on a monthly or quarterly basis.

A balance sheet helps you...

  • Quickly identify your financial strength and capabilities of your business.
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables are growing then you may need to work on collecting your receivables more aggressively.
  • Determine if your business is in a position to expand.
  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
  • Determine if you need to take immediate steps to bolster cash reserves to avoid cash flow problems?
  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

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 your General Ledger

The general ledger is the summary of your company's financial records. These records constitute the central "books" of your system. 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 locate any discrepancies such as double billings or any unrecorded payments. Then we'll fix the issues so your books are always accurate and kept in order for tax purposes.


Available for questions, anytime

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Generally consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

Affiliates

Debra Roubik
Economist, Principal
Veritas Business Advisors
1300 S. Litchfield Road Suite A1020 Box 1
Goodyear, AZ 85338
623-882-9252
This email address is being protected from spambots. You need JavaScript enabled to view it.
Cell: 623-340-4048
www.veritasba.com

Our Location

Located just east of 99th Ave And North of Bell Rd.

Straight Forward Accounting

Contact Us!


623 . 328 . 7866 Phone

623 . 399 . 4294 Fax

623 . 826 . 5172 Cell

sharon@sf-acct.com Email

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