ACCUTAX BIZSOLUTIONS has an impeccable record of delivering remote bookkeeping services to growing and changing businesses in all industries. Our outsourcing services are focused at helping customers with the accounting requirements and significantly reducing the operating costs of their finance department.
We provide you with reliable and accurate bookkeeping services and accounting services. We also help you with tax planning which saves your time and money. Most companies prefer hiring an outhouse CPA Firm to handle their bookkeeping processes. This function enables Business of all sizes to have their accounts handled by professionals and gives them the freedom to focus on the core areas of their Business. These CPA firms address all areas of bookkeeping and accounting as well as Tax compliances. We, the expertise in bookkeeping services offer outsourced bookkeeping services remotely. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
Headed by CPAs, we have a team of accountants with strong accounting principles to offer bookkeeping and accounting services for CPAs, Firms and individuals. Proven process migration procedures allow us to successfully carry out outsourced accounting and bookkeeping activities remotely. The team has considerable hands-on expertise and is conversant with the latest guidelines and pronouncements on US GAAP, IAS and SEC regulations.
We maintain books in a way to facilitate compliance with various statutory requirements that may apply to the business environment in which our clients operate. We help clients in optimizing the efficiency and productivity of their skilled personnel by enabling them to spend more time on value-added functions such as the analysis of costs, renegotiation of vendor contracts, collection of outstanding balances and accelerating cash flows, by offering a highly flexible portfolio of accounting solutions.
In our experience, we have often come across CPA’s and SME’s finding the process of keeping accounts and books up to date rather frustrating. These low margin time consuming activities can take up a lot of man power and space in any office. If given a chance, most CPA’s and SME’s are more than happy to let go of the paperwork to accounting firms who can do it quicker and at a fraction of the cost.
Our highly trained staff can manage day to day transactions, handle AR & AP and prepare important financial statements for you. We currently serve clients from USA, UK and the EU.
OUR BOOKKEEPING SERVICES INCLUDES:
- Provide Monthly reconciliations and financial statements necessary for meeting bank or other investor covenants.
- Invoice generation services.
- Accounts Receivable and Accounts Payable Management Services.
- Trial balances and P&L accounts services.
- General ledger maintenance services.
- Generate an Income Statement on periodical basis
- Generate Balance on periodical basis
- Work with Auditors for our Bookkeeping clients in completing year-end compliance requirements.
Major Areas of Book Keeping:
Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you 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.
- Detect and prevent embezzlement of funds from within your company.
- Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
- 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. This reason to reconcile alone should be enough. Crime exists.
- Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
Income Statement
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…
- Track revenues and expenses so that you can 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. Like 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.
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…
- 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, maybe you can 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, along with 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 you.
Maintaining a Clean General Ledger
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 month 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.