This is one of our core services. We have several partners and accountants working in this area to ensure we can meet the region’s needs in this area. There are very few businesses that can afford in-house accounting departments. Our expertise fills that gap while providing a range of added value services in this area so that you are guaranteed a clear and accurate picture of your company’s financial health. Our accounting systems mean that we can produce reports in a variety of ways and at different times of the year, giving you more or less information as and when required.
- Reviewing and paying household bills, budgeting, and record keeping.
- Assistance with check writing and checkbook balancing.
- Making sure money is received, receipted, and deposited.
- Offering second opinions regarding household issues and unexpected situations.
- Handling day-to-day financial transactions such as home repairs, routine maintenance, and emergency medical expenses.
- Planning retirement account distributions and safeguard against improper disbursements.
- Organizing and reviewing personal, financial, and legal documents to determine what needs to be addressed.
- Preparing an inventory of personal assets and investments.
- Identifying and planning their retirement income, needs, and goals.
- Determining current and long-term cash flow needs by analyzing income and expenses.
- Addressing questions about lifestyle, Social Security, pensions, Medicare, and long-term insurance.
- Monitoring investment portfolio and other assets in conjunction with their investment advisor.
- Preparing, planning and filing income, trust, gift and estate tax.
Key areas that must be attended to day to day accounting
1. Accounts Payable
Keeping track of the amount of money owed out to other vendors is a crucial aspect of accounting. If accounting is simply taking too much time and you’re not able to keep up-to-date records of your accounts payable information, then consider having an accounting service do it for you, relieving the hassle and making a report available to you whenever you need it.
2. Accounts Receivable
Accurate and up-to-date records of accounts receivable greatly impact your ability to monitor cash flow. Understandably, it’s imperative to keep tabs on this aspect of your business’ accounting because unpaid accounts receivable can be a huge problem, resulting in bad debt expenses and other financial problems. If you simply don’t have enough hours in the day, consider hiring out to an accounting company that can take that workload off of your shoulders.
Payroll is often viewed in the eyes of business owners and managers as a routine nuisance. Yes, of course it must be done, but couldn’t someone else do it? Yes, in fact, we would be happy to do that for you.
Do you know what goods you have on hand? Do you know how much of those goods you have available? These are crucial questions for a growing business to know the answers to on a daily basis. An accounting firm can help you manage those day-to-day questions and reports, allowing you to focus on what’s really important – expanding your business and reaping the financial benefits.
5. Cash Management
What does your cash flow procedures look like? Organized? Hap-hazard? Sporadic? Cash management is one of the biggest financial responsibilities of a business, and it really shouldn’t be taken lightly. Is your cash being managed well? We can take over this task and hand the results to you at the end of the day. Just like that.
6. Bank and Credit Card Reconciliations
The menial accounting tasks are often the most important. Having an accurate assessment of how your finances are doing on a consistent basis is a key aspect of understanding the overall health of your business. Make sure you know what’s up, and make certain that your business is on the up and up.
7. Cost of Goods
Cost of goods provides you with an assessment of your profit margin. Shockingly, many businesses operate without a clear picture of what their profit margin really is on an ongoing basis. Yes, they may make a single calculation at one point, but once isn’t enough. Instead, you need to keep accurate and updated records of the costs of the goods that you purchase in order to clearly see cost trends and respond accordingly.
On a daily basis, it’s necessary to keep strict records of your business’ finances, and the services of an accounting company can be the tool that allows you to do so. Contact us with any questions that you might have or to learn more about our services. We would be more than willing to look at how a partnership with us could enhance your business’ productivity and free you from the stress and hassle of day-to-day accounting responsibilities.