Small Business Accounting in Hawthorne
As a Hawthorne small business owner, your day-to-day operations can require you to keep track of a dozen or more details, many times simultaneously. At Fylstra & Fylstra, LLC, we understand that this balancing act may not leave you with enough time to keep your own books.
General Ledger Review and Maintenance
At the core of your small business’ financial records is the general ledger, where every transaction should be entered. Proper bookkeeping and successful decision making depends on a reliable, accurate, and up-to-date ledger.
Fylstra & Fylstra, LLC can review your general ledger each month to track down any discrepancies, such as duplicate charges or unrecorded payments. In addition, our Hawthorne firm will work with you to correct these issues as well as implement processes that keep your books accurate.
Bank Account Reconciliation
The monthly business bank account reconciliation that Fylstra & Fylstra, LLC performs can provide you with a current picture of your finances.
Performing this monthly review also enables our Hawthorne professionals to identify discrepancies such as:
Also known as a profit and loss statement, income statements compare an itemized list of revenue against an itemized list of expenses, allowing business decision makers to determine whether they are either over or under budget and adjust accordingly. Fylstra & Fylstra, LLC will work with you to generate this statement as well as track dramatic increases in the cost of goods or returned products, which may justify adjustments to a company’s pricing structure. In the months leading up to tax season, our Hawthorne team provides business owners with guidance on using income statements to determine their tax obligations as well as in an ongoing tax strategy for improved deductions and reduced liability.
Making the right business decisions requires a comprehensive knowledge of your financial information. The customized balance sheets we offer at Fylstra & Fylstra, LLC grant small business owners a basis for strategic planning. By providing a snapshot of your business’ financial condition, balance sheets can help you identify the following:
In conjunction with income statements, balance sheets can be used to represent and communicate the financial health of your business to others. To learn more about on how these records tie into larger processes your small business may require, schedule a consultation with Fylstra & Fylstra, LLC.
Contact Fylstra & Fylstra, LLC
Our goal at Fylstra & Fylstra, LLC is to provide clients with accounting solutions that encourage long-term growth. For more information on small business accounting in Hawthorne, contact our professionals today.
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