Accounting Details


A compilation is sufficient for many private companies. However, if a business needs to provide some degree of assurance that its financial statements are reliable, it may be necessary to engage a CPA to perform a review or an audit.

Through compilation services, a CPA prepares monthly, quarterly, or annual financialstatements. After compiling the financial statements, the CPA is obliged to read them and consider whether they are appropriate in form and free from obvious material errors. The CPA then issues a standard report that says, in effect, that the financial statements were compiled, but because they were not audited or reviewed, no opinion is expressed.

Monthly, Quarterly, Year-End Review

We will help you close your books each month. This involves the following:

  • Recording various month-end transactions (i.e. payroll, investment activity, accrued liabilities, depreciation, amortization, etc.) as necessary.
  • Reviewing monthly transactions in the general ledger to make sure that all material transactions are accounted for in accordance with Accounting Principles Generally Accepted in the United States.
  • Preparation of complex transactions including options, warrants, convertible securities, lease transactions, sophisticated debt service arrangements, notes payable, etc.
  • Review of accounting reserves (i.e. allowance for doubtful accounts receivable, reserve for obsolete inventory, etc.)
  • Review material transactions for proper coding to general ledger accounts.
  • Prepare monthly financial statements (balance sheet, income statement and other schedules important to management).
  • Discuss the financial statements and overall financial health of the company with owners or management.


Financial Reporting and Analysis

  • Prepare monthly financial statements (balance sheet, income statement and other schedules important to management).
  • Review fluctuations in accounts between actual balances and prior year balances, budgeted balances, etc.
  • Analyze accounting estimates for reasonableness.
  • Produce Financial Package to management/owners.


Review and Clean up General Ledger

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 or quarterly allows us to hunt down any discrepancies such as double billings or any unrecorded payments.


Closing The Books

At the end of an accounting cycle, the books will need to be closed to start a new cycle. Adjusting journal entries will need to be done to record any amounts accrued for the period that are not yet listed and to remove any deferred items. Closing journal entries will need to be done to rid the ledger of revenue and expense accounts, attributing the amounts to income and retained earnings.


Financial Planning

A properly structured financial plan enables you to face any financial challenge that
may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable
you to achieve your goals and strengthen your financial security.


Back Office Remote Bookkeeping

Private companies and non-profit organizations are looking for ways to reduce their overhead without compromising the quality of their infrastructure. One way to achieve this is through outsourcing your accounting function. We have a sophisticated server/network system that allows our team to handle the accounting function remotely from our offices. This results in an immediate reduction in salaries and benefits (and bonuses – if given), employer contribution expense to employee benefit plans, etc.

Although we will manage your accounting data remotely, your organization’s financial information will remain at your fingertips. Obviously, this service also frees up some physical space at the client’s place of business.


Prepare Budget and Forecast

A pilot would never fly a plane from Los Angeles to San Francisco without a flight plan that explains how to get there. Yet all too often, small business people open their doors without clear plans to help them get where they want to go. One of the easiest ways to get there — wherever that is — is by creating a budget and forecast.

A reasonable budget allows you to do what you want. It allows you to use your resources where they’re most needed, so your business will head in the right direction.

Creating a financial plan lets you control your business’s cash flow instead of it controlling you.


Account Receivable

Receivables includes all money claims against other entities, including people, business firms, and other organizations. Receivables are required by most of business enterprise in various kinds of transactions. The most common of which is the sales of merchandise or services on credit. We can help you to invoice customers, post collections, and run the age account receivables for you to monitor the cash inflows.


Account Payable

Just as a business extends credit to its customers, other firms may extend credit to it. When a business receives goods or services but does not pay immediately, it incurs a liability called accounts payable. We can help you process bills, run checks to be sent to customers, and process forms 1099 &1096 which is required by IRS.


Bank Reconciliation

Reconciling your business checking account each month allow you to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to identify lost checks, lost deposits and unauthorized wire transactions, detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.

Bank reconciliation can help you detect and prevent embezzlement of funds from within your company, manage your cash more effectively. 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.



Goods sold to customers are assets called inventory. Inventory measurements can be surprisingly difficult. Different inventory measurement approaches can lead to wide variations in reported profits or losses. In addition, the cost of merchandise sold is often the largest deduction in determine income tax. Having us to help you in this area will benefit your business.


Fixed Assets

Most business purchase property, plant and equipment for business use, but it’s tricky when you need to expense or depreciate them. However, choosing the method of depreciation is not easy and it affects your income statement and cash flows. The matching principle dictates that the cost of fixed assets such as machinery, furniture, and real estate ought to be spread over the number of periods that they will help generate revenue.

We can advise you to do what is best for your business.


Income Statement

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. Identify specific items that are causing unexpected expenditures like Repairs, phone, postage, or supply expenses, track dramatic increases in product returns or cost of goods sold as a percentage of sales.


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. Balance sheet help you identify and analyze trends, particularly in the area of receivables and payables. You can 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?
  • Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, factoring company, investors, and vendors who are considering how much credit to grant you.


Cash Flow Management

A wise business owner once said, “Happiness is a positive cash flow.” As a business owner, I’m sure you agree. Everything is better when your cash-in exceeds your cash-out. A cash crisis can be emotionally devastating and it can even kill your business. If you’ve ever had to beg, borrow and steal to cover tomorrows payroll you know what I mean.

Our cash management service allows you to:

1) Know when, where, and how your cash needs will occur.

2) Know what the best sources are for meeting your additional cash needs.

3) Be prepared to meet these needs when they occur, by keeping good relationships
with bankers and other creditors.

The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you. We can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs.

We also prepare historical cash flow statements to help you gain an understanding about where all the money went.

Creating an accurate cash flow projection is just one of the many cash management
services we provide. You also get…

1) Help obtaining an appropriate line of credit.

2) Cash collection acceleration techniques.

3) Proven effective collection policies.

4) Proven effective payment policies.

5) Help obtaining the maximum rate of return on your idle cash.


When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.

Small business owners spend an average of eight hours a month performing payroll functions. That’s 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.

We offer payroll solutions that meet your business’s needs and enable you to spend time doing what you do best–running your company.

Great Services at Affordable Fees

We offer a free initial consultation. Please call us or fill in the form below. We will contact you immediately.

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