Carol Stream Small Business Accounting

Jones, Savarese, Harrington & Company is here to help your company with Carol Stream small business accounting services. Instead of focusing on your books, we allow you to focus on what’s valuable—your customers. We take care of the bookkeeping for you and ensure your company has a solid financial foundation.

Each month or quarter we’ll do the following things to keep your Carol Stream 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 accountants want to see you reach your business its fullest potential. We can help your Carol Stream company set financial goals and formulate a strategy to achieve them. With Jones, Savarese, Harrington on your side, you will have a reputable company with decades of accounting expertise working towards the next step along your business journey.

Carol Stream Small Business Accounting

Jones, Savarese, Harrington & Company is here to help your company with Carol Stream small business accounting services. Instead of focusing on your books, we allow you to focus on what’s valuable—your customers. We take care of the bookkeeping for you and ensure your company has a solid financial foundation.

Each month or quarter we’ll do the following things to keep your Carol Stream 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 accountants want to see you reach your business its fullest potential. We can help your Carol Stream company set financial goals and formulate a strategy to achieve them. With Jones, Savarese, Harrington on your side, you will have a reputable company with decades of accounting expertise working towards the next step along your business journey.

Carol Stream Bank Reconciliation

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

Having us reconcile your Carol Stream 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 Carol Stream bank

  • Stay informed of how your Carol Stream 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 Carol Stream bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your Carol Stream 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.

Carol Stream Small Business Income Statement

Income is what fuels your Carol Stream business. While it may seem intuitive, do you know how much your business is bringing in each money? An income statement, otherwise known as a profit and loss statement, is an itemized list of your revenues and expenses. With these itemized transactions in place, the accountants at Jones, Savarese, Harrington 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 Carol Stream business

  • Determine what areas of your Carol Stream 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

Carol Stream Small Business Balance Sheet

A balance sheet gives you a snapshot of your Carol Stream 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 Carol Stream 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 Carol Stream business is in a position to expand

  • Determine if your Carol Stream 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 Carol Stream business has been slowing down payables to forestall an inevitable cash shortage

Balance sheets, along with income statements, are the essential elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant your Carol Stream small business.

Maintaining a Clean General Ledger

The general ledger is the core of your Carol Stream company’s financial accounting records. These records constitute the central “books” of your system. Since every transaction flow through the general ledger, a problem with your general ledger throws off all your books.

Having Jones, Savarese, Harrington & Company 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 significantly assist with overall tax prep and tax filing each year.

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