Naperville Small Business Accounting Services

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

Our goal is to keep your company on track with a solid financial foundation. Your Naperville business can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Naperville Small Business Accounting Services

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

Our goal is to keep your company on track with a solid financial foundation. Your Naperville business can customize the package of services you receive by adding payroll, tax prep, tax filing, or any of our other services.

Naperville Bank Reconciliation

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

Having us reconcile your Naperville 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 Naperville bank

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

Naperville Small Business Income Statement

Your Naperville business relies on income. Knowing where your income is coming from and how much you’re truly bringing is it vital. An income statement, otherwise known as a profit and loss statement, essentially adds an itemized list your revenues and subtracts an itemized list of expenses. With these transactions in place, we 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 business

  • Determine what areas of your Naperville 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

Naperville Small Business Balance Sheet

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

  • Determine if your Naperville 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 Naperville 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 Naperville small business.

Maintaining a Clean General Ledger

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

Jones, Savarese, Harrington’s accountants can review your general ledger system each month. This 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 greatly assist with overall tax prep each year.

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