Account Receivables

While you're busy providing services to your clients and generating revenue, you might find yourself a little too busy to make sure that everyone has paid for your services. This is where you're local Tucson bookkeeper can be a lot of help!  We'll keep track of the individuals that you've provided services or product to and make sure that all the invoicing is done and payments have been collected.  A detailed Accounts Receivable Aging Report (part of our Tucson bookkeeping services) will be provided to you monthly so that you can clearly see what accounts are paying you on time and which you might have to consider sending to collections.

Making sure that all you're bills are paid on time is also very important!  Having someone readily available and constantly monitoring your payables will be very relieving.  Billing is included as part of our bookkeeping services!  We'll make sure that you take full advantage of discounts your vendors might provide for paying bills within a certain period or if you prefer, we can pay them right up to the due date to increase your working capital. As always, you're in control of your business! You'll also be provided with a detailed Accounts Payable Aging Report so that you can clearly see that you're up to date with all of your vendors or if times are tight, it'll help in providing you with the information that you need so that you don't fall too far behind with any one vendor.

Bank Statement Reconciliation

It is very important that your monthly bank and credit card statements are reviewed to ensure that all your money is accounted for. This process of reconciliation is something we'll take care of for you as well. We'll stay on top of which checks have cleared as well as those that haven't and compare them with the Missing Checks Report mentioned next. We'll account for your banking fees and make sure that you're keeping a positive balance to avoid bank overdraft fees.

Missing Checks Report

Part of the measures that need to be taken while doing your bookkeeping, is making sure that you're money is being tracked. The missing check report in conjunction with your bank reconciliation provides you with two very important pieces of information. 1) It will alert you to any checks that are missing. 2) It will bring attention to duplicate checks that have been cashed. Both of these bits of information are crucial for fraud preventing purposes. We'll make sure that any checks that show up on this report have been properly voided and accounted for.

Look at the bigger picture! Having monthly, quarterly and yearly reports will allow you to evaluate your progress and growth as a business just at a glance. As one of our customers, you will be provided with the two Aging reports mentioned earlier in addition to the three most important reports for businesses listed as follows:

Balance Sheet

This is the perfect report that shows you a snapshot of your business at any given point in time. It will show you your equity position, debt and working capital, all in one! We can always prepare this report right when you need it, whether it's needed to apply for a loan, get a credit line approved through one of your vendors or simply to find how the health of your business is doing.

Income Statement (Profit and Loss Statement)

Need to find out if you made any money this last week, month, quarter, year or during any other period?  We will let you know with the Profit and Loss statement.  Want to find out which one of your accounts is generating the highest profit margin? Having doubts on whether or not you're losing money with one of your customers? We can track profitability by job so that you always know which accounts are worth keeping and which ones are costing you money. Additionally, as you review your Income Statement, you'll be able to identify and track where your money is going. You might be surprised to find out how much money you've overspent on Meals and Entertainment in the last quarter when you receive this statement with your bookkeeping services. You'll even find out how much fuel for your business automobile has been purchased with or without your knowledge. The Profit and Loss statement is definitely a valuable financial report that should be examined closely!

Retained Earnings Statement (Statement of Owner's Equity or Equity Statement)

Well, now you're financial period is over. You've tracked all your receivables, monitored all your bills and made sure to turn a profit. Now what? Well, it's time to find out how it all affected the value of your company. This is where you're Equity Statement comes in. It will help define by how much you're company has grown. It will also tell you what you're company is worth based on all the events and transactions that you're business went through you're previous financial period. Need to know how much of the Equity of your business and how much belongs to one or more of your partners? If you are a partnership, we will track the equity position of each partner as part of our bookkeeping services 

Filing System & Startup Software

Setting up a filing system and choosing the right bookkeeping software, like QuickBooks, when starting your business is very important.  It will help make managing your company easy, allowing you to easily access valuable data and forms when you need them most.  We'll help you setup your files in a very user friendly way that makes sense to your entire staff and that facilitates a smooth running operation.

Give us a call and let's get started today!  Reach us at (520) 979-0611.  Our hours are Monday - Friday, 9:00 am to 6:00 pm.