Aurora Small Business Accounting

As an Aurora small business owner, you have more important things to do than to worry about your business’s finances. The skilled accountants at Jones, Savarese, Harrington & Company specialize in Aurora small business accounting. We take care of your bookkeeping for you, so you can get back to the job of running your business, growing your customer base, and earning profits.

Each month or quarter we’ll do the following things to keep your Aurora small business running at peak performance:

  • Reconcile your bank account

  • Generate an income statement

  • Generate a balance sheet

  • Clean up your general ledger

  • Provide unlimited consultations

Our goal is to keep your company on track with a solid financial foundation. Your Aurora business can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Aurora Small Business Accounting

As an Aurora small business owner, you have more important things to do than to worry about your business’s finances. The skilled accountants at Jones, Savarese, Harrington & Company specialize in Aurora small business accounting. We take care of your bookkeeping for you, so you can get back to the job of running your business, growing your customer base, and earning profits.

Each month or quarter we’ll do the following things to keep your Aurora small business running at peak performance:

  • Reconcile your bank account

  • Generate an income statement

  • Generate a balance sheet

  • Clean up your general ledger

  • Provide unlimited consultations

Our goal is to keep your company on track with a solid financial foundation. Your Aurora business can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Aurora Bank Reconciliation

Reconciling your Aurora business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your Aurora small business account each month allows you to:

  • Identify lost checks, lost deposits and unauthorized wire transactions

  • Detect and prevent excess/unjustified bank charges and ensure transactions are posted correctly by your Aurora bank

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

  • Manage your cash more effectively: Proper management of funds not only saves money, it makes money for you.

  • Protect yourself: By timely reconciling and promptly objecting to your Aurora bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your Aurora agency of responsibility for the shortfall and transfer the risk to the bank.

  • Enjoy the peace of mind knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Aurora Small Business Income Statement

Your Aurora business relies on income. Knowing where your income is coming from and how much you’re truly bringing is it vital. An income statement, otherwise known as a profit and loss statement, essentially adds an itemized list your revenues and subtracts an itemized list of expenses. With these transactions in place, we can determine a profit or loss for the period.

An income statement allows you to:

  • Track revenues and expenses allowing you to determine the operating performance of your Aurora business

  • Determine what areas of your Aurora business are over-budget or under-budget

  • Identify specific items that are causing unexpected expenditures: For example, unexpected 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

Aurora Small Business Balance Sheet

A balance sheet gives you a snapshot of your Aurora company’s 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 Aurora business

  • Identify and analyze trends, particularly in the area of receivables and payables: For example, if your receivables cycle is lengthening, you may consider implementing a policy to collect your receivables more aggressively.

  • Determine if your Aurora business is in a position to expand

  • Determine if your Aurora 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 Aurora 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 your Aurora small business.

Maintaining a Clean General Ledger

The general ledger makes up the the central “books” of your system. This is the core of your Aurora company’s financial accounting records. Every transaction flows through the general ledger. In other words, if there’s a problem with your general ledger, your books are thrown off.

Jones, Savarese, Harrington’s accountants can review your general ledger system each month. This allows us to hunt down any discrepancies, such as double billings, or any unrecorded payments. Our staff will fix the discrepancies so your books are always accurate. Maintaining a clean general ledger is also necessary for your tax accounting and will greatly assist with overall tax prep each year.

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