Bookkeeping
Basic Financial Analysis Tools
Income and Expense Report (Profit and Loss Report)
This tool measures the performance of your company or business over a period of time. It shows categories of revenues (income) that were generated as well as the expenses that were necessary to generate the income. It is also referred to as Profit and Loss Statement because income should be greater than expenses, therefore resulting in profit.
(Revenues - Expenses = Profit)
Through the use of Profit and Loss Statements we can measure income and expenses over time either monthly, quarterly and or annually. It is also incredibly helpful when comparing financial results over a certain time period by analyzing each line item, reviewing each category, and examining changes.
Balance Sheet (Snapshot of current financial position)
This tool is good for the day that it was created. It is a snapshot of the business's current financial position. It measures the assets (what it has) against liabilities (what is owed). What is left can be called Net Worth or Stockholders equity. Think of this as what would be left in your pocket after everything was sold and all the bills were paid.
(Assets - Liabilities = Stockholders Equity)
Most Popular Services
- Clean Ups: If you have been in business for over a year and you have not done your Bookkeeping, our clean up service is often used to get your business up to date.
- Monthly On-Going: Business owners often find themselves overwhelmed and overworked handling day to day to tasks. We take the responsibility of keeping up with your Bookkeeping on a monthly basis so you can focus on operating your business.
- One - Time Fix: When you have issues that you aren't able to fix, we can help!
- Reconciliations: Process of confirming that accounts in the general ledger are accurate, consistent, and complete.
- Education and Training: Educating our clients is what gives us the most satisfaction. We all start from zero, and knowledge is power.
- QuickBooks Set up: Properly setting up your QuickBooks and properly categorizing items is vital for proper Bookkeeping.
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