Keeping track of your books and accounting transactions is meticulous and time consuming. With the everyday challenges of running your business, it is not economical for you to have to keep track of your books and the more time you have to spend keeping up with them, you are losing valuable time to grow your business.
We take care of your books so you don’t have to. Each month or quarter we'll enter the daily income and expense transactions from your checking and credit card accounts, as well as provide the following services to you:
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to:
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period. An income statement allows you to:
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. A balance sheet helps you:
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each period allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip-top shape.
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our general consultations are already included in our price, so please feel free to call us whenever you have a question or concern.
Cory Franklin and Associates strives to be where you are. We serve Los Angeles, Beverly Hills and a multitude of other service areas.