Bank Reconciliation Services

 

Reconciling your business checking account each month allows us to keep your bank account, bookkeeping, and taxes accurate and up to date.

 

Having our team reconcile your account monthly helps you:

  • Identify lost checks, missing deposits, and unauthorized wire transactions.

  • Detect and prevent excess or unjustified bank fees, and ensure transactions are posted correctly by your bank.

  • Prevent internal fraud and embezzlement of company funds.

  • Understand your business’s financial health. You can't truly know unless all accounts are reconciled and properly reflected in your financial statements.

  • Manage your cash flow more effectively. Proper fund management not only saves money—it generates more revenue.

  • Protect your business. Timely reconciliation and prompt objection to unauthorized, fraudulent, or forged checks can shift liability to the bank and protect your assets.

  • Sleep better. Rest easy knowing your bank accounts are reconciled, balanced, and that all escrow funds, accounts, checks, and disbursements are properly accounted for

 

 

Interested in a Free Consultation for our Small Business Accounting Services?

Please call today at (618) 343-1255 or email us at [email protected]

Balance Sheet Reporting

A balance sheet offers a snapshot of your business’s financial condition at a specific point in time.

A balance sheet helps you:

  • Quickly assess the financial strength and capabilities of your business.

  • Analyze trends in receivables and payables. For example, a lengthening receivables cycle may signal the need for more aggressive collections.

  • Determine if your business is ready to expand.

  • Evaluate your ability to manage normal fluctuations in revenue and expenses.

  • Decide whether to bolster cash reserves.

  • Identify if delayed payables are masking a cash flow issue.

Balance sheets, along with income statements, are essential for financial reporting to banks, investors, and vendors considering credit or investment.

 

Income Statement Preparation

An income statement—also known as a profit and loss statement—provides an itemized summary of your revenues and expenses to determine your net profit or loss for the period.

An income statement helps you:

  • Track income and expenses to evaluate your business’s operational performance.

  • Identify areas that are over-budget or under-budget.

  • Spot unexpected costs in categories like phone, mail, or office supplies.

  • Monitor increases in product returns or cost of goods sold as a percentage of sales.

  • Accurately calculate your income tax liability.