Our confidential professionals will assist you with your outsourced accounting needs. We provide you with confidence in your numbers so you can make sound financial decisions to grow your business.
Reconciliations & Month end Reviews
“The devil is in the details.” In accounting, that is true with the general ledger. I recommend a review of your general ledger on a monthly basis. This will also provide you with a reconciliation of the balance for the year-end audit. I would complete the following reconciliations each month:
- Bank and Credit Cared Reconciliations
- AP and AR Reconciliations
- Income statement variances
- Payroll Reconciliations
- Fixed assets Depreciation and Reconciliations
- Accrued and Prepaid Expenses
Financial Statements and Reports
Every business should review their financial statements at the end of each month. Some companies may need additional reports for auditors, banks, or other institutions. For example, below is a list of the basic reports, but you may request additional reports if needed.
- Balance Sheet
- Income Statement (Profit &Loss)
- Cash Flow Statements
- A/P and A/R Detail and Summary Reports
- Variance Reports
- Ad hoc Reports as requested
Setting up Your Accounting Software
Last, but not least, is the setup of your system. The success of your new business begins with a good financial system. I will review your company’s needs, develop a plan, and help you select your accounting software. The initial setup will include:
- Company and tax information
- Chart of accounts
- Vendors and customers
- Banking information
- Inventory
- Payroll
Internal Processes
After reviewing your current accounting processes, I will design specific process and procedures for your business, including but not limited to:
- Create accounting procedures for your employees and external auditors
- Minimize unauthorized transactions by ensuring segregation of duties
- Train your employees in the process and procedures
- Routinely review and reconcile accounts by outsourced accountant or owner