Fox Valley Small Business Accounting

Never leave your business finances up to chance. Jones, Savarese, Harrington & Company is a Fox Valley small business accounting firm. Our professionals will work to provide you with peace of mind and help you enjoy financial health. We offer a wide range of services to our small business clients, allowing them to stay up to date with the latest financial strategies.

Each month or quarter, we’ll do the following things to keep your Fox Valley 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

We’ve been working with small business owners for decades, so we understand the issues that small businesses face. As your advocate, we are dedicated to providing you with the support you need to be successful. With the ability to tailor our services to your needs, you can feel confident knowing your accounting strategies are personalized to your business and goals.

Fox Valley Small Business Accounting

Never leave your business finances up to chance. Jones, Savarese, Harrington & Company is a Fox Valley small business accounting firm. Our professionals will work to provide you with peace of mind and help you enjoy financial health. We offer a wide range of services to our small business clients, allowing them to stay up to date with the latest financial strategies.

Each month or quarter, we’ll do the following things to keep your Fox Valley 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

We’ve been working with small business owners for decades, so we understand the issues that small businesses face. As your advocate, we are dedicated to providing you with the support you need to be successful. With the ability to tailor our services to your needs, you can feel confident knowing your accounting strategies are personalized to your business and goals.

Bank Reconciliation

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

Having us reconcile your Fox Valley 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 Fox Valley bank

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

Income is what fuels your business. We’re sure that’s apparent as a business owner, but do you know how much your business is bringing in each month? 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 Fox Valley business

  • Determine what areas of your Fox Valley 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 Fox Valley 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 Fox Valley 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 Fox Valley business is in a position to expand

  • Determine if your Fox Valley 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 Fox Valley 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 Fox Valley small business.

Maintaining a Clean General Ledger

Think of your general ledger as the foundation of your central “books” system. Each transaction flows through the general ledger, both income and expenses. If there’s a problem with your general ledger, your entire accounting approach is thrown off. Our goal is always to keep your books accurate and kept in top shape.

Having us review your general ledger system each month allows us to hunt down any discrepancies. If we find issues such as double billings or any unrecorded payments, we’ll fix them and get you back on the right track.

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

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