Bookkeeping / Accounting
Small business owners have more important matters to attend to, to keep their business running smoothly. Let us take care of your books and back-office needs. So, you can remain vigilant on running your business and generating revenue.
Let us handle these tasks for you:
- Bank account reconciliation
- Financial statements: Balance sheet, income statement, & statement of cash flows
- Monitor and maintain a clean general ledger
- Unlimited tax and strategic consultations
Bank account reconciliation
Keeping accurate and up-date financial information helps reduce financial risks. This includes reconciling your business checking account each month.
What we do:
- Recognize and clear all deposits & identify lost deposits
- Account for all written checks & identify lost/stolen checks
- Identify and report unauthorized transactions
- Advise on banking products to prevent excess/unjust bank fees
- Ensure all transactions are posted to the bank correctly
- Detect fraudulent banking activity
- Advise on internal controls to manage your cash more effectively
Financial Statements
Balance Sheet
A balance sheet provides you will a snapshot of your business' financial condition at a specific point in time. Importance of a balance sheet...
- Shows the financial strength of your business
- Identify trends in your payables and receivables
- Help make sound financial decisions to boost cash reserves
- Help identify potential payables slow down; foreshadow cash crunch
- Determines how your business can handle financial ebbs - revenues and expenses flow
Income Statement
An income statement, commonly referred to as a Profit and Loss statement (P&L), is an itemized list of your business' revenues minus expenses for a period. Importance of an income statement...
- Track revenues and expenses
- Determines the operational performance of your business
- Identifies areas over/under budget
- Identifies causes of unexpected expenditures
- Establishes your income tax liability
Statement of Cash Flows
A statement of cash flows summarizes your business' movement of cash and cash equivalents going in and out of the company. Importance of a statement of cash flows...
- Measures how well your business manages its cash position
- Shows how your business' operations run
- Reveals your liquidity level - ability to pay down/off debt
- Describes whether your business is on a solid financial ground
General Ledger Maintenance
The general ledger is the backbone of your business' accounting records. These records are commonly referred to as "the books". Because every transaction passes through the general ledger, any issue with the general ledger will throw off your books.
We review your general ledger system every month. This allows us to identify any discrepancies and correct them. Once corrected your books will be accurate and clean.
Consultations
Carolina Tax Advisor understands small business owners have to make hundreds of decisions during any course of their operations. Having someone in their corner to provide sound financial advice on those decisions can be the difference between a gain or a loss. We are available to meet with you and discuss your financial information, so you fully understand your financial standings.
Our consultations are included in our pricing, so feel free to call or schedule an appointment when you have a question.