FINANCIAL REPORTS include a Balance Sheet, Statement of Income (Profit and Loss), and a Statement of Cash Flows (Sources and Uses of funds). These financial statements are key metrics, like your dashboard, to monitor the revenue,expenses, debt and customer receivables. We can prepare them from you data, or even help you gather the data into an ongoing accounting system. If you have an accounting system, let us retool it so it works for you in your current business operation.
Accounting and Financial Reports can be done monthly, quarterly or annually. The best run businesses use a monthly accounting of their operations for optimal management and vigilant guarding of their financial resources.
Business owners and managers need to know not only how much cash they have in the bank on a given day or week, but they need to understand where those funds came from and where they went. By reviewing a set of financial reports each month, the business manager will learn to focus to on the financial position of the company in its strengths and weakness. Financial ratios are derived right from the balance sheet and income statement.
Each month, your business leaves a trail of transactions from customer, employees, operations, vendors, suppliers, credit facilities. To make sense of this activity, solid monthly accounting is required: Balance Sheet, Income Statement and Statement of Cash Flows. We are experienced in accounting whether you are on the cash or accrual method, or not sure.
These reports can be prepared in a timely fashion each month with the proper adjustments for advance payments, depreciation, currency changes and other factors. Contact us to start the best business practice of knowing your 'financials' and use these tools for planning, changes and a guide for profitability and reduced taxes.