Book Keeping Services
Book Keeping Services
Accurate and timely bookkeeping and maintenance of various day to day accounting books in order to record financial transactions such as sales, purchases, income and payments is essential in running a business. A simple data entry error can have a significant effect on the financial statement. Therefore, decisions made based on wrong numbers will definitely have a negative impact on your company. An effective accounting and bookkeeping process must be able to track and maintain your income and expenses as well as collect the necessary financial information for your various tax returns.
As a small business owner you have more important things to do than to keep your own books. Our Virtual Bookkeeping Service will take care of your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter our Bookkeeper or Virtual Bookkeeper will do the following things for you :
• Reconcile your bank account
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations
These tasks form the solid 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.
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date. Our Virtual Bookkeeper will take care of this task daily, weekly, or monthly depending on your company's needs.
Having us reconcile your account each month allows you to :
Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
Protect yourself. 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 agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
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 is 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.
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.
A Balance Sheet helps you to:
Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect 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?
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.
The general ledger is the core 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 hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.
We can add value by providing you with meaningful, well-organized financial records that ensure your business operations will run efficiently on a daily basis. Solid financial records are the foundation of a successful business. We can assist you with the day-to-day tasks associated with bookkeeping or take a leading role in your bookkeeping and financial administration.
Apoyo’s experts are available to provide consultation to you anytime and anywhere.
Kindly fill the contact us form above and we shall reach out to you!