Income Statement s
Use your income statements (or profit and loss statements) to:
- Monitor your costs and income so your business runs at peack efficiency
- Watch for over-budget projects
- Focus on projects that are outperforming expectations
- Identify expenditure categories that are increase or decrease without apparent explanation
- Track increases in unusual expense categories like product returns or cost of goods sold
- Manage impact of your business income on personal 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:
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 record of your company’s financial transactions. Essentially, your business’s books, the core of your company’s financial records. These records constitute the central “books” of your system. We make sure that all your transactions flow directly into the ledger so that your books are clean, your bills get paid on time (and never double paid) and all your receipts get properly credited to the invoice or service performed. Your books are always accurate and most important, you know where you stand at all times.
Know how your business is doing at all times so there are no cash flow surprises. We make sure that:
- All your checks and deposits are accounted for
- There are no unjustified charges from the bank
- No fraud or embezzlement from within your company
- Revenues and expenses are posted to the correct accounts so that you know how profitable each project is
Bookkeeping Services on Your Schedule
Keep your mind on your business while we mind your books. We build a firm foundation for your business while you take care of your customers and clients.
Take the hassle out of running your business. Every month we reconcile you checking account to make sure your deposits, payments and taxes are up to date.
We protect you from fraud and waste from inside and outside your company:
- Forged checks
- Fraudulent credit card purchases
- Erroneous charges from banks and suppliers
The sooner you know there’s a problem the faster you can take action. Sleep better knowing that your bank accounts are reconciled, in balance and that all your checks, credit card purchases and cash are properly accounted for.
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.OUR CLIENTS
“Applied Business Concepts has been doing our books for 5-6 years. They help our business through the use of quickbooks. They have computerized and updated our books and keep things running smoothly. They always provide the best suggestions for how to file taxes.”
