Hoffman Estates Small Business Accounting

At JSH, we know that managing the financial aspects of a small business can be overwhelming, so our goal is to offer support that fits your unique needs. Whether you need help with day-to-day bookkeeping or long-term financial planning, our Hoffman Estates small business accounting services offer your company the expertise and guidance it needs.

Each month or quarter, we’ll do the following things to keep your Hoffman Estates 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 proactive approach and attention to detail, we help streamline your operations, maximize efficiency, and minimize costs. Partner with us to gain peace of mind knowing that your financial matters are in good hands, allowing you to focus on growing your business and achieving your goals. Let us be your trusted ally on the path to success.

Hoffman Estates Small Business Accounting

At JSH, we know that managing the financial aspects of a small business can be overwhelming, so our goal is to offer support that fits your unique needs. Whether you need help with day-to-day bookkeeping or long-term financial planning, our Hoffman Estates small business accounting services offer your company the expertise and guidance it needs.

Each month or quarter, we’ll do the following things to keep your Hoffman Estates 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 proactive approach and attention to detail, we help streamline your operations, maximize efficiency, and minimize costs. Partner with us to gain peace of mind knowing that your financial matters are in good hands, allowing you to focus on growing your business and achieving your goals. Let us be your trusted ally on the path to success.

Bank Reconciliation

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

Having us reconcile your 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 Hoffman Estates 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 Hoffman Estates bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank, you can relieve your Hoffman Estates 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

At JSH, we specialize in preparing detailed income statements that give small business owners a clear view of their company’s financial standing. Income statements are essential for tracking revenue, expenses, and profitability over time. By providing clear and comprehensive reports, we help you identify your business’s financial performance patterns and make informed decisions to improve your bottom line.

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 Hoffman Estates 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 Hoffman Estates small business.

Maintaining a Clean General Ledger

At JSH, we understand the importance of maintaining a clean ledger, which is the foundation of sound financial management. We ensure that your records are always up to date, accurate, and reflective of your business’s financial activities, allowing you to stay organized and compliant with regulations.

An accurate and well-maintained ledger helps you easily monitor cash flow, analyze your business’s financial health, and prepare for tax filings. It also provides a safeguard against potential errors or discrepancies that could lead to financial or legal issues down the line.

Ready to talk?

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