Small Business Accounting Services

As a small business owner, you have more important things to do than to keep your own books. Jones, Savarese, Harrington & Company specializes in small business accounting. We take care of your bookkeeping for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we’ll do the following things for you:

  • 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 your small business accounting system. You can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Small Business Accounting Services

As a small business owner, you have more important things to do than to keep your own books. Jones, Savarese, Harrington & Company specializes in small business accounting. We take care of your bookkeeping for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we’ll do the following things for you:

  • 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 your small business accounting system. You can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Bank Reconcilliation

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 or unjustified bank charges

  • Ensure transactions are posted correctly by your bank

  • Stay informed of how your business is doing by properly balancing and reconciling all accounts

  • Manage your cash more effectively

  • Protect yourself with timely reconciling

  • Promptly object to your bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank

  • Properly account for all escrow funds, accounts, checks, and disbursed funds

  • Relieve your agency of responsibility for the shortfall and transfer the risk to the bank

  • Enjoy the peace of mind of knowing your bank accounts are reconciled and balanced

Income Statement

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

  • Determine the operating performance of your business

  • Determine what areas of your business are overbudget or underbudget

  • Identify specific items that are causing unexpected expenditures, like unforseen supply expenses

  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales

  • Determine your income tax liability

Balance Sheet

A balance sheet gives you a snapshot of your company’s financial condition at a specific moment in time. Along with income statements, balance sheets 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 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
  • 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

General Ledger

The general ledger is the core of your company’s financial accounting 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. This process is also vital for your tax accounting and will greatly assist with overall tax prep and tax filing each year.

Ready to talk?

Give us a call or email us to set up your business consultation today!

Let’s Talk