Hanover Park Small Business Accounting

At JSH, we understand the challenges and opportunities of running a small business, and we’re here to help you navigate them confidently. Our Hanover Park small business accounting services are designed to help you achieve your goals. From bookkeeping and payroll management to tax planning and financial analysis, our team of experts is committed to providing you with the support and guidance you need to succeed.

Each month or quarter, we’ll do the following things to keep your Hanover Park 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

With our personalized approach and attention to detail, we’ll ensure that your finances are in order, allowing you to focus on what you do best – growing your business. Partner with us today and experience the difference professional accounting services can make for your small business. You can trust that your financial needs will be met with precision and care, giving you peace of mind and the freedom to pursue your business goals confidently.

Hanover Park Small Business Accounting

At JSH, we understand the challenges and opportunities of running a small business, and we’re here to help you navigate them confidently. Our Hanover Park small business accounting services are designed to help you achieve your goals. From bookkeeping and payroll management to tax planning and financial analysis, our team of experts is committed to providing you with the support and guidance you need to succeed.

Each month or quarter, we’ll do the following things to keep your Hanover Park 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

With our personalized approach and attention to detail, we’ll ensure that your finances are in order, allowing you to focus on what you do best – growing your business. Partner with us today and experience the difference professional accounting services can make for your small business. You can trust that your financial needs will be met with precision and care, giving you peace of mind and the freedom to pursue your business goals confidently.

Bank Reconciliation

Reconciling your Hanover Park business checking account monthly lets us keep your bank account, accounting, and taxes current.

Having us reconcile your Hanover Park 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 bank

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

The small business income statement, or the profit and loss statement, is a vital financial document that provides a snapshot of a company’s financial performance over a specific period. Our experienced accountants meticulously prepare income statements detailing revenues, expenses, and net income, giving business owners valuable insights into their profitability.

An income statement allows you to:

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

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

  • Determine if your 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 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 Hanover Park small business.

Maintaining a Clean General Ledger

A clean ledger is the foundation of sound financial management for businesses of all sizes. At JSH, we understand the importance of maintaining accurate and organized financial records to support informed decision-making and ensure compliance with accounting standards.

From recording daily transactions to reconciling accounts and generating financial reports, we handle every aspect of maintaining a clean ledger with precision and efficiency. By outsourcing ledger maintenance to JSH, businesses can streamline their financial operations, minimize errors, and gain confidence in the integrity of their financial data.

Ready to talk?

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

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