Las Vegas Bookkeeping
Whether you process your own transactions or have us do it for you, all businesses still need a proper set of books and the numbers have to be right to provide any value to the business owner. We can capture the financial information generated throughout the accounting cycle and make sure it is recorded correctly in your books.
Small Business Bookkeeping
Proper bookkeeping involves the following.
Recording the Transactions Properly
This is normally done in financial journals and ledgers which are used to ensure that all information is collected and properly categorized based on the particular needs of the business. This can be done either manually, in a spreadsheet or, most commonly, in a bookkeeping software program.
Reconciling the Bank and Credit Card Accounts
This ensures that your books are accurate and in balance which is crucial to making sure business owners have solid financial information with which to make decisions.
Maintenance of Accounts Receivable Subsidiary Ledgers
If your company invoices customers it is crucial from a profit and cash flow standpoint to know who owes you money and how long they have to pay you. A subsidiary accounts receivable ledger shows each customer, what they have been billed, what they have paid and when they have paid. This information can be used to prepare and Accounts Receivable Aging Report which savvy business owners use in their collections process and to manage their cash flow.
Maintenance of Accounts Payable Subsidiary Ledgers
If your suppliers allow you to purchase goods and services, they may give you discounts to pay them within a certain period of time. When properly managed this can be a crucial component of cash flow management. The Accounts Payable Subsidiary Ledger shows you who you owe money to, when it is due, the discounts available and when you paid the bill. This information can be used to prepare and Accounts Payable Aging Report which can also be used to manage cash flow.
Preparing a Trial Balance
Balancing the books is the cornerstone of bookkeeping and it is the first step in ensuring that the company’s numbers are right. The trial balance helps identify potential errors and can provide clues as to where an error may have occurred.
Choosing the Right Bookkeeping Service
A proper set of books is crucial to the financial success of any business. This is not an easy task for a business owner to stay on top of. There is only so much time in the day and it is usually spent running the business and not on doing the books. A business owner who wants to properly manage their business can benefit from a firm like ours who can take on this task professionally and cost-effectively.
A Las Vegas CPA can help you create and manage a proper set of books. We can also help you bring your books up to date if they have fallen behind.
Schedule a free consultation or inquire more about our services.