equity Recovery BOOKKEEPING Agency
Is This You ?
THEN YOU NEED ME !
I will SAVE YOU MONEY:
I am a positive, energetic problem solver passionate about bookkeeping. I help small business clients recover an average of $7,500 annually by locating lost equity and uncovering missed tax deductions.
I will SAVE YOU TIME:
By customizing my services to meet each client’s unique needs, I help them reclaim 10–20 hours each month, freeing them to grow their business, serve customers, and increase revenue.
I will help you GROW YOUR BUSINESS:
I ensure the accurate recording and classification of all financial transactions, reconcile bank and credit card accounts, and review client records with a high level of integrity and attention to detail.
Additionally, I translate financial activities into clear, actionable monthly reports, enabling my clients to make data-driven decisions and move toward their financial goals. I ensure that all end-of-year documents are perfect for your tax preparer. I offer comprehensive Clean-Up and Catch-Up services for companies with neglected books, bringing the financial records up to date and accurate.
I am a positive, energetic problem solver passionate about bookkeeping. I help small business clients recover an average of $7,500 annually by locating lost equity and uncovering missed tax deductions.
I will SAVE YOU TIME:
By customizing my services to meet each client’s unique needs, I help them reclaim 10–20 hours each month, freeing them to grow their business, serve customers, and increase revenue.
I will help you GROW YOUR BUSINESS:
I ensure the accurate recording and classification of all financial transactions, reconcile bank and credit card accounts, and review client records with a high level of integrity and attention to detail.
Additionally, I translate financial activities into clear, actionable monthly reports, enabling my clients to make data-driven decisions and move toward their financial goals. I ensure that all end-of-year documents are perfect for your tax preparer. I offer comprehensive Clean-Up and Catch-Up services for companies with neglected books, bringing the financial records up to date and accurate.
Our Services
Monthly Bookkeeping Service
These are the fundamental tasks performed every month to keep the financial records accurate and up-to-date. This service includes:
Recording and Categorizing Transactions:
Entering all income and expenses from bank feeds, receipts, and invoices into QuickBooks accounting software.
Ensuring every transaction is correctly assigned to the appropriate account (e.g., supplies, rent, sales).
Bank and Credit Card Reconciliation:
Comparing the company’s internal accounting records with the bank and credit card statements.
This is a critical step to ensure all transactions are accounted for, catch errors, and detect fraud.
Month-End Close Procedures:
Making necessary adjustments to journal entries (e.g., recording depreciation, accruing expenses).
“Closing the books” to finalize the month’s records.
Generating Monthly Core Financial Statements:
– Profit & Loss (P&L) Statement / Income Statement: Shows the company’s revenues and expenses, leading to a net profit or loss for the month.
– Balance Sheet: Provides a snapshot of the company’s assets, liabilities, and owner’s equity at the end of the month.
– Statement of Cash Flows: Tracks the movement of cash in and out of the business from operations, investing, and financing activities.
Financial Review:
Analyzing these financial reports for unusual items, significant changes, and trends.
Extensive Year-End Close Procedures: The end goal is to hand off a clean, complete, and accurate set of financial statements and supporting documents to the tax professional. This includes, but is not limited to:
1. Final Review and Reconciliation
Final Monthly Reconciliation: Ensure the final month’s bank, credit card, and loan statements have been reconciled to match the general ledger balances precisely.
Accounts Receivable (A/R) Review:
Review the A/R aging report and identify any uncollectible balances (bad debts) that should be written off.
Accounts Payable (A/P) Review:
Verify all vendor bills have been recorded and paid or correctly accrued.
Ensure all liabilities (money owed) are accurately reflected.
Missing Documentation Cleanup: Scour for and collect any missing receipts, invoices, or statements to ensure every transaction is documented.
2. Year-End Adjusting Entries
These special journal entries are necessary to comply with the accrual method of accounting and accurately state the year’s performance and financial position.
Fixed Assets and Depreciation:
Verify all new capital purchases (assets with a useful life over one year, like equipment) have been recorded correctly.
Calculate and record the depreciation expense for the year for all assets (often done by the accountant/CPA, but the bookkeeper may enter the final figure).
Inventory Adjustment: If the business holds inventory, adjust the recorded inventory balance to match the results of the physical count taken at year-end.
Accruals and Deferrals: Record income or expenses that belong to the current year but were not yet received or paid:
Accrued Expenses: Expenses incurred but not yet paid or billed (e.g., unpaid wages earned by employees, utility costs).
Deferred Revenue/Expense: Adjust prepaid amounts (like insurance or rent paid in advance) to recognize only the portion used during the current year.
3. Payroll and Tax Preparation
Payroll Reconciliation: Reconcile all payroll reports and tax filings (like Form 941/940 records) with the general ledger.
Contractor Forms (W-9s and 1099s): Collect current W-9 forms from all eligible contractors and prepare to issue the 1099 forms for non-employee compensation.
Review Owner/Shareholder Compensation: Ensure owner withdrawals, guaranteed payments, or officer wages are properly categorized.
4. Finalizing and Closing the Books
Financial Statement Generation: Produce the final, reconciled versions of the Income Statement (P&L) and the Balance Sheet for the year.
These are the fundamental tasks performed every month to keep the financial records accurate and up-to-date. This service includes:
Recording and Categorizing Transactions:
Entering all income and expenses from bank feeds, receipts, and invoices into QuickBooks accounting software.
Ensuring every transaction is correctly assigned to the appropriate account (e.g., supplies, rent, sales).
Bank and Credit Card Reconciliation:
Comparing the company’s internal accounting records with the bank and credit card statements.
This is a critical step to ensure all transactions are accounted for, catch errors, and detect fraud.
Month-End Close Procedures:
Making necessary adjustments to journal entries (e.g., recording depreciation, accruing expenses).
“Closing the books” to finalize the month’s records.
Generating Monthly Core Financial Statements:
– Profit & Loss (P&L) Statement / Income Statement: Shows the company’s revenues and expenses, leading to a net profit or loss for the month.
– Balance Sheet: Provides a snapshot of the company’s assets, liabilities, and owner’s equity at the end of the month.
– Statement of Cash Flows: Tracks the movement of cash in and out of the business from operations, investing, and financing activities.
Financial Review:
Analyzing these financial reports for unusual items, significant changes, and trends.
Extensive Year-End Close Procedures: The end goal is to hand off a clean, complete, and accurate set of financial statements and supporting documents to the tax professional. This includes, but is not limited to:
1. Final Review and Reconciliation
Final Monthly Reconciliation: Ensure the final month’s bank, credit card, and loan statements have been reconciled to match the general ledger balances precisely.
Accounts Receivable (A/R) Review:
Review the A/R aging report and identify any uncollectible balances (bad debts) that should be written off.
Accounts Payable (A/P) Review:
Verify all vendor bills have been recorded and paid or correctly accrued.
Ensure all liabilities (money owed) are accurately reflected.
Missing Documentation Cleanup: Scour for and collect any missing receipts, invoices, or statements to ensure every transaction is documented.
2. Year-End Adjusting Entries
These special journal entries are necessary to comply with the accrual method of accounting and accurately state the year’s performance and financial position.
Fixed Assets and Depreciation:
Verify all new capital purchases (assets with a useful life over one year, like equipment) have been recorded correctly.
Calculate and record the depreciation expense for the year for all assets (often done by the accountant/CPA, but the bookkeeper may enter the final figure).
Inventory Adjustment: If the business holds inventory, adjust the recorded inventory balance to match the results of the physical count taken at year-end.
Accruals and Deferrals: Record income or expenses that belong to the current year but were not yet received or paid:
Accrued Expenses: Expenses incurred but not yet paid or billed (e.g., unpaid wages earned by employees, utility costs).
Deferred Revenue/Expense: Adjust prepaid amounts (like insurance or rent paid in advance) to recognize only the portion used during the current year.
3. Payroll and Tax Preparation
Payroll Reconciliation: Reconcile all payroll reports and tax filings (like Form 941/940 records) with the general ledger.
Contractor Forms (W-9s and 1099s): Collect current W-9 forms from all eligible contractors and prepare to issue the 1099 forms for non-employee compensation.
Review Owner/Shareholder Compensation: Ensure owner withdrawals, guaranteed payments, or officer wages are properly categorized.
4. Finalizing and Closing the Books
Financial Statement Generation: Produce the final, reconciled versions of the Income Statement (P&L) and the Balance Sheet for the year.