Small Business

As a small-business owner, you’ve already got plenty on your plate—is the time you spend keeping your own books also keeping you away from more important duties? With CBS Tax & Accounting on your side, you can focus on managing what matters.

Our support for small businesses starts with four core items and actions, either monthly or quarterly:

1. Bank account reconciliation
2. Income statements
3. Balance sheets
4. General ledger and QuickBooks cleanup

Then, you can simply add other services as you need them, customizing the perfect package for your business: payroll, tax planning and preparation, your personal tax return (which is impacted by your business, of course).

But it all starts with those four core things listed above. Why do they matter? Let’s take a closer look.

Bank account reconciliation

Have you ever lost a check or a deposit and not noticed it for months? Or had funds go missing from your account unexpectedly? With our monthly reconciliation, we’ll keep an eye on everything, which means you’ll have a clear picture of your cash flow and more. Closer monitoring also can prevent tax frustration down the road, and even protect against potential embezzlement or fraud, which can be a liability issue for your business. You never think it will happen to you—until it does.

Income statements

How is your business really doing? You won’t know without an income statement, which shows profit (or loss) for any given period by itemizing revenue and expenses. This can help you plan and budget, or examine areas where savings might be possible. It’s also an important tool to help avoid nasty surprises come tax time.

Balance sheets

A balance sheet can help you spot trends in your business by indicating financial ebbs and flows. Are your receivables taking longer than normal to come in? Is your business strong enough to expand? Do you consistently have enough cash on hand? Your balance sheet will tell you all of these things, so you know what actions are necessary to maintain or increase the health of your finances. It also is vital if you are seeking credit or funding.

The general ledger

When people think of “books,” this is most likely what they mean. This is where every single transaction for your business is recorded, and any discrepancy can throw off all of your other financial statements. That’s why it’s important to review it each month — our team is certified in QuickBooks and fluent in other systems, too, so we’ll make sure everything is clean.

Support whenever you need it

We also provide unlimited consultations for our small-business clients. We’ll answer all of your questions, so you know exactly what we’re doing—and so you can understand your business better.