Streamwood Small Business Accounting

Unlock your company’s full potential with comprehensive Streamwood small business accounting services. At JSH, we specialize in providing tailored solutions to meet the unique financial needs of small businesses. From bookkeeping and payroll management to tax preparation and strategic financial planning, our dedicated team ensures that your financial affairs are in expert hands.

Each month or quarter, we’ll do the following things to keep your Streamwood 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.

Streamwood Small Business Accounting

Unlock your company’s full potential with comprehensive Streamwood small business accounting services in Streamwood. At JSH, we specialize in providing tailored solutions to meet the unique financial needs of small businesses. From bookkeeping and payroll management to tax preparation and strategic financial planning, our dedicated team ensures that your financial affairs are in expert hands.

Each month or quarter, we’ll do the following things to keep your Streamwood 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 Streamwood business checking account monthly lets us keep your bank account, accounting, and taxes current.

Having us reconcile your Streamwood 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

A small business income statement is a critical tool for assessing a company’s financial health and performance. At JSH, our team recognizes the significance of income statements in providing valuable insights into a business’s profitability and operational efficiency. We work closely with small business owners to prepare accurate and detailed income statements that reflect the company’s financial activities, including revenues, expenses, and net income.

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 Streamwood small business.

Maintaining a Clean General Ledger

Maintaining a clean ledger is essential for businesses to ensure accurate financial records and facilitate informed decision-making. At JSH, we offer comprehensive services designed to keep your ledger pristine and up to date.

We focus on providing businesses with accurate, efficient, and reliable financial record-keeping solutions. Our team handles various tasks, including reconciling bank statements, managing accounts payable, generating financial reports, and monitoring cash flow. Maintaining a clean ledger allows businesses to easily track their financial performance, identify trends, and comply with regulatory requirements.

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

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