Lisle Small Business Accounting

The qualified staff at Jones, Savarese, Harrington & Company is ready to help your Lisle business set financial goals and create a plan to achieve them. Our Lisle small business accounting services allow companies to focus on success instead of behind-the-scenes finances. We meet the diverse needs of our Lisle clients every day by handling a wide array of CPA accounting services.

Each month or quarter we’ll do the following things to keep your Lisle 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 aim to continually grow your business by setting and reaching your financial goals. Jones, Savarese, Harrington & Company has a superb reputation as a Lisle business advisor. It’s a reputation that we’ve worked hard to gain. As the leading choice for CPAs in Lisle, we will provide personalized attention and ensure we devise the best plan for your Lisle business.

Lisle Small Business Accounting

The qualified staff at Jones, Savarese, Harrington & Company is ready to help your Lisle business set financial goals and create a plan to achieve them. Our Lisle small business accounting services allow companies to focus on success instead of behind-the-scenes finances. We meet the diverse needs of our Lisle clients every day by handling a wide array of CPA accounting services.

Each month or quarter we’ll do the following things to keep your Lisle 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 aim to continually grow your business by setting and reaching your financial goals. Jones, Savarese, Harrington & Company has a superb reputation as a Lisle business advisor. It’s a reputation that we’ve worked hard to gain. As the leading choice for CPAs in Lisle, we will provide personalized attention and ensure we devise the best plan for your Lisle business.

Bank Reconciliation

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

Having us reconcile your Lisle 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 Lisle bank

  • Stay informed of how your Lisle 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 Lisle bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your Lisle 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 is dedicated to making you a well-informed business owner. We want to make sure you know whether you’re turning a profit or suffering a loss. An income statement, otherwise known as a profit and loss statement, essentially adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with 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 Lisle business

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

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

Balance sheets, along with income statements, are essential elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant your Lisle small business.

Maintaining a Clean General Ledger

The general ledger makes up the central “books” of your system. This system is the core of your Lisle company’s financial accounting records. Every transaction flow through the general ledger. In other words, if there’s a problem with your general ledger, your books are thrown off.

Our accountants can review your general ledger system each month. This ledger allows us to hunt down any discrepancies, such as double billings, or any unrecorded payments. Our staff will fix the discrepancies, so your books are always accurate. Maintaining a clean general ledger is also necessary for your tax accounting and will significantly assist with overall tax prep each year.

Ready to talk?

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

Let’s Talk