Downers Grove Small Business Accounting

Daily accounting is time-consuming and challenging to handle. Spend more time running your business and less time focusing on your finances. We want to help you achieve your goals and save you the frustration of dealing with the numbers. Jones, Savarese, Harrington & Company is a Downers Grove small business accounting firm. We will help you grow and prosper by taking care of your accounting needs.

Each month or quarter, we’ll do the following things to keep your Downers Grove 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

JSH provides timely and accurate support to help our small business clients succeed. Our experienced team simplifies your Downers Grove small business accounting, provides reports and proactive strategies. Our team is driven to help your business take on the now and the next with innovative financial ideas, solutions, and results.

Downers Grove Small Business Accounting

Daily accounting is time-consuming and challenging to handle. Spend more time running your business and less time focusing on your finances. We want to help you achieve your goals and save you the frustration of dealing with the numbers. Jones, Savarese, Harrington & Company is a Downers Grove small business accounting firm. We will help you grow and prosper by taking care of your accounting needs.

Each month or quarter, we’ll do the following things to keep your Downers Grove 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

JSH provides timely and accurate support to help our small business clients succeed. Our experienced team simplifies your Downers Grove small business accounting, provides reports and proactive strategies. Our team is driven to help your business take on the now and the next with innovative financial ideas, solutions, and results.

Bank Reconciliation

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

Having us reconcile your Downers Grove 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 Downers Grove bank

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

Income Statement

Jones, Savarese, Harrington & Company wants you to be informed about your income. We offer an income statement, otherwise known as a profit and loss statement. This report adds your revenues and subtracts your expenses to generate 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 Downers Grove business

  • Determine what areas of your Downers Grove 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

Small Business Balance Sheet

A balance sheet gives you a snapshot of your Downers Grove 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 Downers Grove 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 Downers Grove business is in a position to expand

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

Balance sheets and 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 Downers Grove small business.

Maintaining a Clean General Ledger

The general ledger is the core of your financial records. A problem with your general ledger throws off the entirety of your books. JSH can review your general ledger each month. This review allows us to hunt down any discrepancies, such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so that your books are always accurate and kept in tip-top shape.

Ready to talk?

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

Let’s Talk