Small Business Accounting and Bookkeeping Services
Running a business often requires balancing a long list of responsibilities. A.A.B.S Inc can shorten your list of duties and help you to run your business more efficiently. We’ll also work with you to set and achieve financial goals.
The steps involved with basic bookkeeping can be overwhelming depending on the size of your business and the number of transactions. If you no longer feel like you have control of your books, give us a call. We will manage your business finances and keep you on the right track.
We offer accounting, bookkeeping, and payroll services that allow you more time to focus on the products and services you offer your customers.
Financial “Cleanup” Services
- Review and reorganize current books
- Make suggestions to how to run your books more efficiently
- Help prepare for audits or IRS reviews
- Accounting and back office policies and procedures
Accounting and Bookkeeping
- Monthly Accounting and Bookkeeping Service
- Bank and Credit Card Statement Reconciliations
- Financial Statement Preparation Normal
- Sales & Use Tax Tracking and Filing
- GL Maintenance & Review
- New Company Setup and Training
- Financial Statement Preparation
Monthly Review Services
If you already have someone that handles the data entry of your daily transactions but has limited accounting experience, we can help. We can provide monthly services to check your books for errors, reconcile accounts, make adjusting entries & prepare financial reports. If you’re like most business owners, you would like to know that you have an experienced accounting professional on your side to navigate through this tricky area of your business.
- Monthly Reporting – We offer simplified monthly reports and statements to provide a quick and accurate picture of your business activity.
- Monthly Operating Statements – Presents your monthly breakdown of sales, cost of sales and expenses; also called a Profit and Loss Statement.
- Balance Sheet – Summarize your total business assets, liabilities and net worth at a given point in time so you can make decisions about capital expenditures or how to improve profits.
- Bank Reconciliation – Careful comparison and proof of your bank account statement with your checkbook balance each month to ensure you are working with the correct total.
- General Ledger Report – A record of the dates, check numbers, payees and amounts of all expenses within each of your business accounts. Whether you prepare your records by hand, or using one of the computerized accounting systems, this report will provide you with the assurance that your reports have been properly prepared.
Part-Time CFO Services
Growing businesses often reach a point where they need professional financial advice, but can’t afford a full-time CFO or controller.
If you’re fortunate enough to be in this position then we have the perfect solution for you. Our Part-Time CFO service gives you a professional financial manager who works with you to help guide your business to success.
The cost of hiring a full-time CFO can range from $60,000 to over $100,000 per year plus bonuses and benefits. Our Part-Time CFO services provides you with experienced support at a small fraction of that cost.
Here’s what you get with our Part-Time CFO services…
- More time to focus on new services, new customers and other core business issues.
- Better understanding of the financial side of your business. So you have less surprises and more control over the money.
- Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
- A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
- The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
- A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
- Training and managing your accounting staff.
- Improved quality and timeliness of financial information.
- Budget preparation and monitoring.
- Profitability analysis by service or product line.
- Tax saving strategies.
- Trend analysis.
- Assistance in defining long-range plans and the quantification of goals.
- Cash management.
- Liaison with bankers, attorneys, vendors, insurance agents, etc.
- Assistance in obtaining financing from banks, including assistance with negotiations.
- Review/negotiation of insurance policies.
- Development of company accounting procedure manuals.
- Analysis of equipment purchases, expansions, etc.
- Mergers and acquisitions assistance
- Custom designed collection policies and procedures
At times you may need a trained outside professional to evaluate your company’s operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.
We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.
What we do for you…
- Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
- Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
- Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
- Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
- Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
- Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
- Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.