Diane B. Rohde CPA PLLC
Bookkeeping for Business
Business owners need timely, accurate and helpful bookkeeping to succeed. But getting from raw data to useful statements is a journey. It’s performed in many bookkeeping and accounting steps. This begins with data entry. Entering your bank account transactions and credit card statements is a time-consuming process. But this is a critical step. Next, a review of accounts and journal entries assures proper allocations. This is important to ensure you can track costs and revenue. Finally, compiling reports, and checks of accuracy are made. This is key to ensure that your decision-making information is sound.
There are many more stages in the entire process, of course. More will be outlined later. But these three items are the basis of bookkeeping, the foundation. Enter, clean up and then compile. Let’s explore them and how we can help you succeed.
Even the best of systems can be glitchy. Whether it happens from human or computer error, mistakes can corrupt your data. Our monthly bookkeeping service reviews your accounts for proper allocation. This ensures that costs are segregated and allocated correctly. Small errors often snowball into large problems if left unchecked. Let us help you be proactive in bookkeeping.
Monthly financial statements aid you in expanding, hiring, purchasing and many other decisions. But, if you don’t know what to look for, all the reports in the world will be so much wasted paper. We take the time to help you understand the data that’s important to your business. Individualized ratios, context, and correlations of information are key to your business health. We can also help with other areas of your bookkeeping cycle.
Accounts payable often drains your time, along with your cash flow. Knowing when to pay bills is an important piece of the vendor/customer relationship. If you pay late, you will see reduced terms, a lower credit line and develop a poor relationship. Yet, paying too early can lead to cash flow problems. Striking a good balance is what we are here for.
Accounts receivable is the reverse of the payable situation. Getting paid quickly is what keeps you afloat financially. If customers are late to pay, you will get behind as well. But beware, calling customers with many reminders may turn them off. This could lead to the loss of future revenue. Setting up an effective collections process keeps your customers happy. As well, your business will remain solvent.
As explained on our payroll webpage, we are your best solution. Gone are the days of worrying about regulations, filing deadlines and printing checks. Our services can help you stay compliant and remove the payroll burden from your hands.
Cash flow projections can ease planning and decision making. Once you have the above process working, you get a better handle on your cash position. The free cash flow of your business is key to planning your future. Business is not a static being. It is a dynamic force with ever-changing concerns. Having a grip on your future cash flow potential can help you plan for major purchases and upgrades. After all, you shouldn’t have to make large capital moves without knowing your options.
The bottom line
You know your business better than anybody. So, use your time wisely to run your business while we take the burden of accounting off your shoulders. Our skilled professionals know many accounting and bookkeeping treatments. Contact us today for a free no-pressure consultation on your accounting and bookkeeping needs.