Bookkeepers are overlooked and underestimated because many people think that “bookkeeping” is simply entering numbers into accounting software, or in other words—a higher level data entry clerk.
This is entirely untrue.
Bookkeeping services, such as those that Forbush & Associates provides, are much more than that – and is much more valuable. Bookkeeping includes the following services, which we provide and have included a bit of information about.
When a business uses quarterly or monthly financial reports to make decisions, they are using data that are weeks, if not months, old. Wouldn’t it be nice to use data from last week, or even yesterday, to base your decisions on? Real-time accounting provides you with the most updated and relevant information.
Do you need a reliable set of reports that is up to date, easy to read and understand? After-the-fact bookkeeping is what you need. We will consult with you as to exactly what information you need on what scheduled basis, and will contact your team on a regular basis to access all pertinent types of information (such as credit card invoices and deposits).
One of the most tedious tasks of running a business is running payroll. From a small business of only four employees to one of four thousand, the same type of information is needed and deductions handled; time off, taxes included, bonuses, the list goes on. We can handle your payroll, ensuring you have more time to dedicate to the running of your business.
Bank account reconciliation
A reconciliation is a comparison of two different records; with bank account reconciliation, we compare the bank’s record of events with that of your own internal records. This allows us to catch any overcharges, bank fees and other errors, and is an extremely effective way of discovering theft or fraud.
Credit card reconciliation
Credit card reconciliation is the same sort of idea as bank account reconciliation, but in this case we match your credit card invoices against the records of the credit card company. This can weed out mistaken invoices, missed payments or other mistakes.
Cost reporting is one of the main reports that you need to be able to make important financial decisions for your company. Essentially, cost reporting sets out all the costs and expenses related to one job, project or class; this allows you to decide which is the better course of action for many situations.
Financial statement preparation
Again, one of the more arduous jobs that relates to owning a business is financial statements. Financial statements include the balance sheet and statement of income, amongst others. We are able to produce quarterly and annual financial statements for all sizes of companies.
So there you have it. Bookkeeping and the services related to bookkeeping are extremely handy for any type of business, and some of them are essential. Give Forbush & Associates a call today for help with your bookkeeping needs!