Small business accounting plays a crucial role for the small business owners as they have other important things to do in comparison to maintaining their books. In such a case, hiring a professional small business accounting expert from Nex Accounting is certainly a good choice. He not only takes good care of your account books, he also lets you run your business and making profits efficiently.

When you hire us, our experts do the following tasks for you, periodically:

• Perform Bank Reconciliation
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Account Reconciliation

Reconciling your bank account and business each month allows our experts to keep your accounting and taxations up-to-date.

Such reconciliation allows you to:

• Detecting lost checks, any unauthorized wire transactions and lost deposits.
• Identifying and preventing unjustified bank charges.
• Also, they make sure that your bank is posting the transactions correctly.
• Identifying and preventing misuse of funds within your company.
• Managing your cash more efficiently. Proper management of funds not only saves money, it makes money for you.
• Protecting your interests by timely reconciling and promptly objecting to your bank about any unauthorized, forged or fraudulent checks presented and paid.

Income Statement

Our experts help you with your income statement as well.

So, an income statement adds a documented list of all your revenues and subtracts the documented list of all your expenses and brings out profit or loss for the said period.

An income statement permits your business to:

• Track expenses and revenues in such a manner that a person can define the operating performance of her/his business.
• Define the business areas that are under-budget or over-budget.
• Recognize particular items that are causing unpredicted expenditures. Phone, fax, mail, or supply expenses are such example.
• Track any increase in product returns or cost of goods.
• Define your tax liabilities.

Balance Sheet

A balance sheet offers a snapshot of the actual condition of your business at any specific time.

A balance sheet helps you to:

• Get a control on the financial capabilities and strength of your business, quickly.
• Classify and examine trends, especially in the area of payables and receivables.
• Define your business capacity to expand
• Define your business’s ability to handle general financial subsides and flows of expenses and revenues.
• Define the intensity of action you need to take to bolster cash reserves.
• Define if your business is slowing down payables to forecast cash shortage.

Income statements, along with, balance sheets are some of the most basic elements in defining financial reporting to potential lenders including investors, vendors, and banks, who consider the amount of grant you are eligible for.

General Ledger Maintenance

The general ledger is one of the most essential part of the financial records of your company. The ledger records establish the principal “books” of your business system. Since every transaction is recorded in the general ledger, a problem with your general ledger can be actually problematic for you and your business.

Hence, a small business accounting expert can always of great help for you. Our experts not only review your general ledger each month, but also track down any existing discrepancies like any unrecorded payments or double billings. Thus, our financial experts fix the discrepancies in keep your books in good shape and accurate, always.

To receive a free consultation regarding our Small Business Accounting service, feel free to contact us. We are all ears!