Small Business Accounting
As a small business owner you have more important things to do than to keep your own books. At Brown Kinion and Company, we take care of your books for you, which allows you to get back to running your business and generating profits!
Our quarterly or monthly services include:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Clean up your general ledger
- Provide unlimited consultations
These tasks form the solid foundation of any quality small business accounting system. These services are also flexible and customizable in order to precisely fit your needs. You can even add our other services like payroll, tax planning, tax preparation, and more.
Reconciling your business checking account each month is vital for keeping your bank account, accounting, and taxes up-to-date.
When we reconcile your account each month, you're able to...
- Identify lost checks, lost deposits and unauthorized wire transactions.
- Detect and prevent excess or unjustified bank charges and ensures transactions are posted correctly by your bank.
- Detect and prevent embezzlement of funds from within your company.
- Track the progress of your business. Accurately tracking your profits requires ensuring that 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, it makes money for you.
- Protect yourself. Fraudulent or forged checks and other unauthorized payments are quickly spotted and objected to when your books are in order. This way, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank.
- Sleep Better. Put your mind at ease with bank accounts that are reconciled and in balance. Be secure in the knowledge that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
An income statement, or a profit and loss statement, is an itemized list that allows you to easily track all your revenues and all your expenses to come up with a profit or loss for the period.
An income statement from Brown Kinion and Company allows you to...
- Determine the operating performance of your business through accurate revenues and expenses.
- Discover the departments that 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 cost of goods sold as a percentage of sales.
- Determine your income tax liability.
With the help of a balance sheet, you're able view your business's financial condition at a specific moment in time. 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.
A balance sheet from Brown Kinion and Company helps you...
- Define the financial strength and capabilities of your business.
- Identify and analyze trends, particularly in the areas of receivables and payables.
- Determine when your business is ready to expand.
- Determine if you're equipped to handle usual financial fluxuations.
- Identify immediate concerns regarding cash reserves.
- Recognize an inevitable cash shortage.
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system and a problem in your general ledger will throw off all of your books.
When Brown Kinion and Company reviews your general ledger system each month, we're able to hunt down discrepancies such as double billings or any unrecorded payments. We're then able to fix the discrepancies to keep your books accurate and kept in tip top shape.
We pride ourselves on our profressionalism and availaibilty to our clients. 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.