Just because business owners are required to wear a lot of hats, doesn’t mean that the accounting hat must be one of them. Monthly accounting for your business can take a lot of time, and mistakes can cost you a lot of money.
One of the marks of a great business owner is that they know when it is time to delegate or outsource responsibilities. If you are feeling the pressures of bookkeeping, are finding too many mistakes when you are closing the books each month, or simply do not have the time to be the entire accounting department and run your business, let Wasatch CPA Services take care of it for you!
Making informed, strategic decisions to protect and grow your business starts with your monthly closing process. Having a well-orchestrated, solid month-end closing depends on your accounting system. Developing financial statements that are timely and accurate requires maintaining your accounting system with documented processes and procedures, developing coordinated monthly activities, and establishing effective internal controls.
Most monthly closing processes include the following actions:
- Recording all the daily operational financial transactions
- Reconciling subsidiary ledgers and accounting system data with the general ledger
- Making monthly journal entries and recording monthly transactions
- Reconciling the balance sheet accounts
- Reviewing revenue and expense accounts for accuracy
- Preparing financial statements
- Internal management review of financial statements
- Closing accounting systems for the month
Our team at Wasatch CPA Services has more than 50 years of experience helping business owners just like you with all their accounting needs. When it comes to monthly accounting, they can help you streamline the process of keeping track of expenditures and revenue by helping you sort through options in accounting software and helping you develop streamlined processes and procedures.
They can also help you by collating information to generate timely financial reports that can help you make better and more sound decisions based on the best information.
Some of the specific accounting items that Wasatch CPA Services can handle for you include:
- Revenue and Expense Recording
- Accounts Receivable and Accounts Payable Tracking
- Bank and Credit Card Account Reconciliations
- Cash Flow and Forecast Reports
- Financial Statement Preparation
Accounting is one of the core requirements for running a company properly. That does not mean that accounting is simple or easy. Depending on your business, it can be a very complicated task, and it absolutely must be done accurately. Hiring a CPA for monthly accounting assures accuracy in your financial reporting. It also assures that you as a business owner will have timely and accurate information when making decisions about the day-to-day management and the future of your business.
The experienced team at Wasatch CPA Services can go beyond providing accuracy and reliability in your accounting and streamlining your processes. They provided specialized reports and counseling that will help you interpret and use the information to make decisions that will give your business an edge and help it to grow.
If you need help with your monthly accounting, schedule a consultation with Wasatch CPA Services today.