Is maintaining your books holding you back from managing your small business? Many small business owners find it difficult to find time for bookkeeping while focusing on profit building. You need professional New York Small Business CPA. Armel Tax is here to help!
We provide various monthly and quarterly services which include producing an income statement and balance sheet, maintaining your general ledger, managing your bank account and offering accounting consultations. These are the fundamental accounting responsibilities necessary to run your Manhattan small business. We also offer personalized service bundles to assist in your specific needs.
Your income statement shows your revenues and expenses, and whether you profited or lost during the period. This is also known as a profit and loss statement. With your income statement, you can follow these revenues and expenses and establish your small business’ operating performance, as well as drastic escalations in returned goods and cost of goods, both presented as a percentage of sales. It helps you verify where your business is over or under-budget, and resolve your income tax liability. You can also locate certain items that cause unexpected expenses.
Your balance sheet allows you to view the financial condition of your business at a particular instant. It aids you in determining if your business can grow and deal with common financial ups-and-downs, and if it requires urgent action to boost cash reserves. You can also examine and learn to recognize trends with your balance. All of these things and more allow you to understand your business’ financial strengths and potential. A Manhattan Small Business CPA will provide you with these two services, which are essential components in communicating with possible lenders who determine the amount of credit you will receive.
In order to keep your books steady, we offer a service of maintaining your general ledger, which is the central aspect of your financial records. As a small business owner, it is easy to occasionally overlook inconsistencies such as repeated charges or payments that are unaccounted for. Armel Tax NY Small Business Accounting will locate such inconsistencies and tie up any loose ends for you.
On top of all of these services, a Manhattan Small Business CPA will help you manage your bank account monthly. This includes your accounting and taxes as well. In order to save expenses and generate profit, you can more easily manage your money, find missing checks, deposits and illicit wire transfers, and prevent embezzlement of finances. Banks often hit your business with charges that are unnecessary and baseless. A reconciled bank account will make it easier for you to detect these charges and read your financial statement so that you can truly see what kind of shape your small business is in. Reconciling is often a time-sensitive action that you must take. Otherwise, your business may be held responsible for bad checks coming or going from your bank. Once we have assisted you, you will be able to determine whether any illegitimate checks are present, and take steps toward relieving your business of this responsibility.
Armel Tax offers consultations to its customers at no additional cost, so if at any time you wish to call upon us for advice, you do not have to worry about extra fees. Just pick up your phone or visit our site, and a Manhattan Small Business CPA will be there to assist you! To get started with a free consultation, all you need to do is complete the form below.