As the owner of a small or mid-sized business, it can be challenging to find the time to maintain your business records. However, accurate and well-organized financial information is critical to your business’s financial health.
By utilizing our monthly write-up services, you can make life easier during tax time. It will also make it easier for you to quickly access important financial numbers when analyzing profit and when dealing with potential lenders, such as banks, investors, and vendors.
We offer the following services on a monthly basis:
EJM offers monthly bank reconciliation, which means we compare your internal financial records against the records provided to you by your bank. This ensures that any unusual transactions caused by fraud or accounting errors can be easily identified. It also allows you to manage your cash flow and spot any inefficiencies.
Timely reconciliation of your bank accounts makes sure that all transactions have been entered, are accurate, and the financial statements are a true reflection of how your business is doing.
A Balance Sheet communicates the so-called “book value” of your business, as calculated by subtracting all the business’s liabilities and shareholder equity from its total assets. It measures the financial condition of your business at a specific moment in time.
Monthly Income Statements
An Income Statement (also known as a Profit and Loss Statement) summarizes your business revenue and operating expenses over a specific period of time. This helps you calculate your net income for that same period. It is the benchmark for knowing how your business is performing.
The Income Statement, along with the Balance Sheet, provides the most basic and most important financial information for managing your business. Potential lenders also require Income Statements and Balance Sheets when considering credit limits.
Let EJM handle all your monthly bookkeeping and accounting needs, so you can focus on what you do best….running and growing your business.
Small Business Accounting
- Monthly Bank Account Reconciliation
- Monthly Income Statements
- Monthly Balance Sheet
- Compatible With QuickBooks or Our Software
- Year End Tax Consulting
- Workers’ Compensation & Disability Insurance Audits
- Relationships with Payroll processors, such as Paychex, ADP, Prime Pay, Gusto & QuickBooks
- Quarterly IRS & State Payroll Reporting & Filings
- EFTPS & NYS Tax Deposits Calculated & Deposited
- Federal & State Year End Payroll Filings
- Annual Payroll Tax Reports & Preparation of W-2s & 1099s
- Preparation of Sales Tax Filings
- Prepared Quarterly or Annually (when applicable)