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Houma, LA CPA Firm | Small Business Accounting Page | Bryan J. McElroy CPA
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Small Business Accounting

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Small Business Accounting

Small Business Accounting


As a small business owner you have more important things to do than to worry about bookkeeping and accounting tasks. We can help you figure out the simplest way to keep your bookkeeping records so it won't take an unusually large amount of time. That will allow you more time to get back to the job of running your business and generating profits.

Each month or quarter we can do the following things for you...

  • Reconcile your bank account
  • Generate an income statement 
  • Generate a balance sheet
  • Clean up your general ledger
  • Provide consultations

These tasks form the solid foundation of your small business accounting system. In addition to these services, we can also provide payroll check preparation, payroll tax return preparation, sales tax return preparation, income tax planning, income tax preparation, or any of our other services.

 
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 all checks, deposits, and other bank transactions.
  • Determine that all transactions are recorded.
  • Know how your business is doing. You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Determine that your checkbook balance is correct. 
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all bank transactions 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 need work to produce more profits.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product 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.
  • determine if your business is in a position to expand.

        

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, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to monitor all general ledger accounts in order for us to help keep your overall accounting sytem in good shape.  Reviewing your general ledger each month allows discrepancies to be identified and corrected so that financial statements can be relied upon. 

 

Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Please feel free to call us whenever you have a question or concern.

If you would like to have a free consultation regarding our small businss services, please call our office to set an appointment.


Bryan J. McElroy CPA
267 Corporate Drive
Houma, LA 70360
Phone: (985) 868-9744
Fax: (985) 868-3959

Bryan J. McElroy CPA 267 Corporate Drive Houma, LA  70360
Phone: (985) 868-9744 | Fax: (985) 868-3959
bryan@mcelroycpa.com
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