Accounting and Bookkeeping 

As a business owner you would want more time to look after what really matters in your business. You can count on us to take care of your books for you, so you can get on with the job of running your business and generating profits!

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

·       Reconcile your bank account     

·       Generate an income statement    

·       Generate a balance sheet    

·       Provide consultations    

These tasks form the solid foundation of your 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.   

 
Bank Reconciliation 

Reconciling your business bank accounts each month allow us to keep your bank accounts, accounting, and taxes up-to-date.

Having us reconcile your accounts each month allows you to...   

·       Identify lost cheques, lost deposits and unauthorised transactions.    

·       Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.     

·        Detect and prevent embezzlement of funds from within your company.    

·        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. Believe it, they do happen.      

·        Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all cheques and disbursed funds are properly accounted for.    

 
Income Statement

      

An income statement, otherwise known as a profit and loss statement, basically adds an itemised list of all your revenues and subtracts an itemised 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 are over-budget or under-budget.     

·      I dentify 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.

·       And much more …    

 
Balance Sheet 

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.   

A balance sheet helps you...   

·       Quickly get a handle on the financial strength and capabilities of your business.     

·      Identify and analyse 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.   

 Contact us now on 03 9763 8989