Glen Ellyn Small Business Accounting

Small business owners often face challenges that require skilled financial guidance. Thankfully, you don’t have to be an accounting expert because that’s our job. Our team provides Glen Ellyn small business accounting services. These offerings are designed to keep your finances in order. Jones, Savarese, Harrington & Companies is here to empower you to reach your full potential with fully scalable services.

Each month or quarter, we’ll do the following things to keep your Glen Ellyn 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 will come to understand your company’s financial needs and work with you to find the right path. Together, we can maximize growth and enhance the way your business approaches its finances. With JSH by your side, you can make informed financial decisions backed by complex data and expert guidance.

Glen Ellyn Small Business Accounting

Small business owners often face challenges that require skilled financial guidance. Thankfully, you don’t have to be an accounting expert because that’s our job. Our team provides Glen Ellyn small business accounting services. These offerings are designed to keep your finances in order. Jones, Savarese, Harrington & Companies is here to empower you to reach your full potential with fully scalable services.

Each month or quarter, we’ll do the following things to keep your Glen Ellyn 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 will come to understand your company’s financial needs and work with you to find the right path. Together, we can maximize growth and enhance the way your business approaches its finances. With JSH by your side, you can make informed financial decisions backed by complex data and expert guidance.

Glen Ellyn Bank Reconciliation

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

Having us reconcile your Glen Ellyn 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 Glen Ellyn bank

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

Glen Ellyn Small Business Income Statement

Our team wants you to be informed about your income. That is why 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 Glen Ellyn business

  • Determine what areas of your Glen Ellyn 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

Glen Ellyn Small Business Balance Sheet

A balance sheet gives you a snapshot of your Glen Ellyn 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 Glen Ellyn 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 Glen Ellyn business is in a position to expand

  • Determine if your Glen Ellyn 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 Glen Ellyn 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 Glen Ellyn small business.

Maintaining a Clean General Ledger

Your company’s general ledger is the core of your financial records. Each transaction flows through the general ledger, both income and expenses. In other words, 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 problems we identify so that your books are always accurate.

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

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