You have more vital things to accomplish as a small business owner than handle your own books. We take care of your books so that you can get back to your business and make profits.

We'll take care of the following for you every month or quarter:

• Make sure your bank account is in order.

• Make a financial statement.

• Produce a balance sheet.

• Make sure your general ledger is in order.

Your small business accounting system is built on the foundation of these responsibilities. 

In business bookkeeping, an account is a record of all debit and credit entries of a certain type.

There are five basic types of accounts:

1. Assets are resources or things of value owned by a company as the result of its transactions.*

2. Liabilities are the obligations and debts owed by a company to suppliers, banks, lenders, or other providers of goods and services.*

3. Revenues or income is the money earned by the company through sales or providing a service.

4. Expenses are the cash that flows out of the company to pay for assets or services.*

5. Equity is the remaining value of an owner’s interest in a company, after all, liabilities have been subtracted.*

* (inventory, accounts receivable)

*(loans, accounts payable)

* (utilities, salaries)

*(stock, retained earnings).

Payroll is one of the most crucial components of any company. It has an impact on staff morale and represents the financial health and repute of a company.

Processing Payroll:

1. You have to collect information

When you hire a new employee, you must fill out Form W-4 with their payroll information. Employers are required to withhold money for federal and state taxes, as well as money for employee benefits.

2. You need to work out your net compensation.

The employee's net pay is the difference between their gross pay and any tax withholdings or benefit payments. You'll also figure out withholdings for Medicare, Social Security, and any municipal taxes that apply.

3. You need to make a payment

You must pay the employee's net compensation either through direct deposit or a physical check.

4. The taxes must be reported

You must file a tax return with the IRS and the state department of revenue for both federal and state tax withholdings.

5. Finally, deduct and pay taxes

All tax and benefit payments must be forwarded to taxing authorities, retirement plan companies, and other benefit providers

We are responsible for preparing four key financial statements:

• Income statement:

Shows your revenue and your expenses over a specified time period

• Balance sheet:

An insight of your financial position at one point in time

• Cash flow statement:

A record of the cash and cash-like equivalents entering and leaving your company

• Statement of changes in equity:

Shows how your share of capital, reserves, and retained earnings have changed in a reporting period

A corporation may have to keep the following types of corporate books and records:

• Annual reports and financial statements

• Articles of Incorporation and Amendments

• Records of shareholder and director meetings, and, adopted resolutions or actions taken

• Documentation for actions taken without a meeting

• Corporate bylaws and amendments

• Names and addresses of directors and officers

• Shareholder records including name, address, number, and class of share