As a business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your small business and generating profits.
Each month or quarter we’ll do the following things for you.
These tasks form the solid foundation of your business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to.
Identify lost checks, lost deposits, and unauthorized wire transactions.
Detect and prevent excess / unjustified bank charges and ensures transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, but it also makes money for you.
Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks, and disbursed funds are properly accounted for.
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to…
Track revenues and expenses so that you can determine the operating performance of your business.
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Track dramatic increases in product returns or the cost of goods sold as a percentage of sales.
Determine your 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.
MAINTAINING A CLEAN GENERAL LEDGER
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip-top shape.
As a business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your small business and generating profits.
When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner. Small business owners spend an average of eight hours a month performing payroll functions.
Virtual CFO Services
Growing businesses often reach a point where they need professional financial advice, but can’t afford a full-time CFO or controller. If you’re fortunate enough to be in this position then we have the perfect solution for you.
Forensic accounting – also called financial forensics or forensic auditing – is an area of accounting that investigates actual or anticipated disputes. Disputes can range from business-related litigation to marital dissolution. We handle both litigation support and investigative accounting.
Cash Flow Management
A wise business owner once said, “Happiness is a positive cash flow.” As a business owner, I’m sure you agree. Everything is better when your cash-in exceeds your cash-out. A cash crisis can be emotionally devastating and it can even kill your business.
Strategic Business Planning
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head, preparing a strategic plan can help you clarify your company’s direction.
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.
If you’d like to receive a free consultation on our Business Accounting Service, please complete this form.
WHAT OUR CLIENTS SAY
Shashi has been a pleasure to work with. He is polite, helpful, responsive, and he has helped me quite a bit with my accounting and quickbooks. As a small business I am too busy to keep up with accounting, and, I just don’t like it. SKB has been a worthwhile investment so that I can focus on what I do best, not paperwork.
SKB Accounting has been great to work with. They are very responsive and we look look forward to working with them for a long time.
I hired SKB to transition all my 2019 info from Freshbooks to Quickbooks. Shashi was fantastic! Quick, organized, and at an excellent cost. He even had to deal with some of my bizarre accounting and we had some weird reconciliation problems, but he fixed it even after I paid the bill to ensure I was a happy customer. Highly recommend!
SKB Accounting is great to work with. They are very responsive, detailed and figured out our somewhat complicated books very quickly. Looking forward to working with them for a long time to come.
I’m a real estate investor who worked with an accountant that didn’t know what they were doing. I switched to SKB Accounting and they cleaned up the mess in a short time. They provided professional work and gave great advice. I highly recommend Shashi and team at SKB Accounting!
I came to SKB after having my business go through a series of terrible bookkeepers. Shashi fixed a huge mess and continues to provide good service. Highly recommended.
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