OUR SERVICES
Small Business Bookkeeping Services
- Catch-up on bookkeeping and clean up financial records
- Produce tax reports for CPA’s
- Enter data into QuickBooks and reconcile against bank statements and credit card statements
- Research transactions for appropriate categorization
- Apply payments received from customers in merchant accounts to the appropriate customer invoices
- Categorize transactions into standard chart of accounts
- Clean up General Ledger as needed using journal entries
- Create customer invoices based on products sold and time sheets for services delivered
- Create vendor bills based on products purchased and services used
- Pay vendor bills using bank website or QuickBooks
- Process payroll, file forms & pay taxes
- File and pay sales taxes to state agencies
- Generate year-end tax reports for IRS
- File 1099s and W2s with IRS and state agencies
- Organize all electronic documents in file folders on a cloud share such as Dropbox or Google Drive
- Answer questions via email and/or phone
- Monthly/quarterly reports:
- Bank reconciliation
- Credit Card reconciliation
- Merchant account reconciliation
- Accounts Payable Aging
- Vendor unpaid bills
- Accounts Receivable Aging
- Customer Balance
- Income Statement or Profit & Loss
- Balance Sheet or Statement of Net Worth
- Employee paystubs
- Payroll
- Sales and Use Tax
- Miscellaneous other needs
How bookkeeping services works with J Swanson Accounting, LLC
Step 1: Send us your financial documents
Each month, gather all of your receipts, bank statements and invoices in one place. Then, once a month, put all those documents into on of our prepaid envelopes. Postage has been prepaid, so you can just drop the envelope in your out going mail.
Step 2: That is it. You're all done! Once we receive your documentation, we will take it from there.
J Swanson Accounting will record all of your transactions and make sure your accounts align. After we receive your information, we will send the following reports:
J Swanson Accounting will become familiar with your business and offer proactive advice on ways you can save money. If you have any additional questions about your finances, you can contact J Swanson Accounting, LLC, we will be able to get back to you right away (but we ask that you allow up to 24 business hours to hear back from us.)
Each month, gather all of your receipts, bank statements and invoices in one place. Then, once a month, put all those documents into on of our prepaid envelopes. Postage has been prepaid, so you can just drop the envelope in your out going mail.
Step 2: That is it. You're all done! Once we receive your documentation, we will take it from there.
J Swanson Accounting will record all of your transactions and make sure your accounts align. After we receive your information, we will send the following reports:
- Detailed Account Ledger
- Income Statemement
- Balance Sheet
J Swanson Accounting will become familiar with your business and offer proactive advice on ways you can save money. If you have any additional questions about your finances, you can contact J Swanson Accounting, LLC, we will be able to get back to you right away (but we ask that you allow up to 24 business hours to hear back from us.)
Small Business Accounting Services
We take care of your books for you so you can get back to the job of running your business.
Each month or quarter we will do the following tasks for you:
Bank Reconciliation: 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:
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:
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:
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 and 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.
Each month or quarter we will do the following tasks for you:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Clean up your general ledger as needed
- Provide unlimited consultations
- These tasks form the solid foundation of your small business accounting system.
Bank Reconciliation: 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:
- 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 notifying your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your company of responsibility for the shortfall and transfer the risk to the bank. This alone is enough reason to reconcile as financial crime does exist.
- 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, such as 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 and 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.
Small Business Controller Services
You run a business because you are good at what you do - not because you love to handle mountains of paperwork. Between tracking outstanding bills, managing accounts receivable, handling payroll and administrative tasks can start to seem like a full-time job.
You would hire someone but maybe you don't have the resources to add a dedicated employee to your team or maybe you need someone to help from time to time.
Depending on the goals of your business, we may suggest several different tactics to help make your business more profitable:
You would hire someone but maybe you don't have the resources to add a dedicated employee to your team or maybe you need someone to help from time to time.
Depending on the goals of your business, we may suggest several different tactics to help make your business more profitable:
- Financial analysis and reporting
- Operations review
- Cash flow planning and analysis
- Budget-to actual reporting
- Financial forecasting
- Break-even analysis
- Profit analysis and improvements
- Labor cost management
- Variable vs fixed expense reporting
- Debt planning and reduction
