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Month-End Close

Drive your business with numbers you can trust

During month-end close, we review the bookkeeping from the previous month and ensure all transactions were recorded properly and accurately. This guarantees you’re basing business decisions on accurate data.

Your staff handles the daily bookkeeping and we provide a professional review of the work for a true and accurate financial picture. We are happy to then close the books for you, or we can provide an expert accountant to assist your staff in closing them.

Month-end close procedures include:

  1. Reconciliations
    Perform bank, credit card, accounts receivable, accounts payable, fixed assets systems, and debt reconciliations on general ledger accounts.
  2. Accrue Expenses
    When your pay dates and pay period end dates don’t fall on the last day of the month, we’ll review the detail records, cost reports, and previous operating history to ensure all entries are recorded. We ensure your financial statement represents everything that occurred during the previous month. This includes accruing expenses, payroll, and sales invoices for work services or goods received into the proper period. This provides timely and accurate financial information for your reporting package.
  3. Coding
    We review the coding performed by either our staff or your staff to confirm the expense and revenue coding provides the right information in the right format. This provides you correct and critical information you need for important decisions.
  4. Actual versus Budget
    The biggest mistake we see in many small to medium-sized businesses is how they maintain and compare their budget to an actual report. We work with you in preparing a budget that reflects historical operations with your future expectations. Then we develop a custom report comparing your actual month results versus the budget. Your management team can review this report in detail to determine cost overruns, trouble areas that need more of management’s attention before problems occur, and even areas that out-performed expectations.
 Ken Gearhart
Ken Gearhart
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“Forbush and Associates has been our contract CFO and Controller since 2002. Being a general contractor, Forbush and Associates assisted us in each step of the way from one subdivision and 2 houses being built at one time to 6 subdivisions and more than 30 houses being built at the same time. Additionally, Forbush and Associates worked diligently in diversifying our client base in efforts to reduce the fluctuations of a residential construction market to our revenue streams. Due to Forbush and Associates assistance, we built other revenue sources and streams that provided us more than $10,000 per month in free cash flow while other contractors went out of business. Forbush and Associates has worked with us in seeing new opportunities in farther reaching communities and has begun to assist in rebuilding our Company after a rough three years including international operations. I would recommend Forbush and Associates to anyone whether it be a tax return preparation or full service business consulting and administration.”
Nancy Durano
Nancy Durano
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“Working with Forbush and Associates has given me peace of mind. I trust your advice because you have a reputation of integrity and honesty and working with Forbush’s team has helped me dramatically to improve communication with my lawyer…your team had the knowledge, experience, wisdom and my best interest at heart. There is no way to repay you for what you have done for me, but I think your team is wonderful and wanted you to know.”
Gary Harmon
Gary Harmon
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“Minuteman Press has used Forbush & Associates for the past four years and we are extremely happy with their strategic planning and tax consultation services. During this time, we have received over $30,000 in refunds from Federal & State taxes that we were not able to recover while using our previous tax preparation company.In addition, we have improved our cash flow and bottom line performance by more than $125,000 as a direct result of Forbush’s strategic planning advice. Who would have anticipated that a simple review of past tax returns could lead to these kind of results?I strongly urge any small business owner to have Forbush & Associates review your last 2-3 year’s tax returns. You won’t be sorry!”
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