Accounting and Bookkeeping Services

For many business owners, handling the financial side of their business is one of the most important, as well as the most time-consuming task of managing their business effectively. Our team of Orlando accountants, automated and systematized processes as well as the very latest in accounting technology ensures that each of our clients receives exceptional services to support their unique business needs.

Each month or quarter, we’ll do the following things for you…

  • Reconcile bank and credit card accounts
  • Maintain clean and precise chart of accounts
  • Generate an income statement
  • Generate a balance sheet
  • Clean up your general ledger
  • Provide various account analysis and variances
  • Support business owners and their staff in day to day financial tasks

These daily financial tasks are the most essential tasks of any business. We will save you not just precious time but also eliminate the risk of making very costly financial mistakes. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Bank and Credit Card Reconciliation

Reconciling your business bank and credit card accounts each month allow us to keep your bank account, accounting, and taxes up-to-date.

Account reconciliations are critical in order to:

  • Identify lost checks, lost deposits and unauthorized wire transactions
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank
  • Identify unauthorized credit card charges
  • Ensure that all transactions are recorded and properly accounted for on your financial statements
  • Manage your cash more effectively and be more proactive in planning
  • Protect yourself from a possible fraud or embezzlement. Timely reconciliations will allow you to detect issues before it’s too late and implement preventive solutions for the future

Chart of Accounts

Chart of Accounts is the core of your financial system and an area that leads most businesses into financial chaos.

We will help you to:

  • Structure your chart of accounts in accordance with Generally Accepted Accounting Principles (“GAAP”)
  • Reclassify incorrectly named or positioned accounts
  • Eliminate duplications and redundancies
  • Customize chart of accounts to fit your unique business model

Income Statement

An income statement, otherwise known as a profit and loss statement, is the main financial statement that business owners rely upon to track how their business is doing.

An income statement allows you to:

  • Track revenues and expenses so that you can determine the operating performance of your business
  • Determine what expenditures of your business are over-budget or under-budget
  • Identify specific areas that are causing unexpected fluctuations
  • Determine trends of your business due to seasonality, non-recurring events and other factors
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales
  • Determine your income tax liability

Balance Sheet

A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.

A balance sheet helps you to:

  • Determine the financial strength and capabilities of your business
  • Identify and analyze trends in the areas of Accounts Receivable and Payable
  • Determine your leverage in terms of debt servicing and expansion
  • Determine if your business has cash flow shortage

Balance sheet, along with income statement, 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 you.
General Ledger

The general ledger constitutes the central “books” of your system. Since every transaction flows through the general ledger, an accurate classification is crucial for producing correct financial statements.

Having us review your general ledger system each month allows us to identify and correct any discrepancies such as double billings or any unrecorded payments.
Account Analysis and Variances

A big part of our service is to help you run your business in the most efficient way as possible and therefore we analyze various accounts regularly.

By analyzing your trends and variances it allows us to:

  • Identify seasonality related trends
  • Distinguish departures from the norm and investigate reasons for those departures
  • Identify and analyze budget variances
  • Recognize cost savings opportunities

Support and Consultations

We are always available to assist you or your staff with any questions related to the use of accounting software, recording of financial transactions or interpreting and utilizing the financial information we provide. Our Orlando accountants are already included in our price, so please feel free to call us whenever you have a question or concern.