Small Business Services
As a small business owner you should not have to worry about keeping track of your accounting books. You have more important things to do. Let us do it for you, so you can focus on running your business.
Each quarter you'll receive the following services as needed:
Bank Reconciliation
Having your bank accounts reconciled each month allows you to keep track of your funds. This allows us to
- Identify is there is anything missing from your bank statements, such as checks, deposits, and wire transfers that were not authorized by you.
- Help you identify if there are any bank charges that should not be on your accounts and help you understand the ones that are.
- Help keep track of the funds that are going in and out of your company.
- Help avoid unauthorized transactions that might be fraudulent and correct them.
Income Statement
An income statement is also known as a profit/loss statement. This keeps tracks of all your revenues earned less your expenses. By having a profit/loss statement you can
- Keep track of your revenue and expenses by quarter, so you can under understand how your business is operating.
- Understand where you are over spending and areas where you have some cap space.
- Figure out which expenditures cost the most for your company.
- Be able to calculate what percentage of your cost of goods sold is of sales.
- Calculate income tax liability.
Balance Sheet
A balance sheet allows you to see your company’s financial situation for a given time. It gives you an overview and can help you
- Understand your different areas of your company by noticing patterns. If the time to collect receivables has increased, you would want to try to be more aggressive to collect them. A balance sheet can help determine this.
- See if your company is ready to expand.
- See if you have a cash shortage if your payables are increasing steadily.
- Any many more.
Different financial institutions look at your company’s balance sheet and income statement when reviewing to see how much credit they are willing to extend, which is a good reason for you to comprehend these.
DHD Financial Services will help your company by helping you understand your financial statements.
Additional Questions
We are more than happy to spend time with your company to help you understand your company’s financial needs. The best part it is provided at no additional cost to you!