Bookkeeping Services
Payroll, accounts receivable & accounts payable, and preparation
of financial statements are just some of the day to day bookkeeping services
that can be provided by Finlay & Associates.
Accounts Receivable Management
We will process invoices, handle cash receipts, prepare and mail
monthly statements and provide you with monthly aging reports. We will also reconcile your accounts receivable
each month.
Accounts Payable Management
In addition to processing and prioritizing your payables, we will
provide you with monthly aging reports and reconciliation of your payables.
Bank and Credit Card
Reconciliation
All your bank and credit card statements will be reconciled each
month. If you have internet features
with any of your accounts, we can save you time by downloading them directly
into your accounting system before reconciliation.
Month End Closing
In addition to reconciling your accounts payable and accounts
receivable each month, we will also reconcile your other balance sheet accounts
and review the income and expense accounts for accuracy. We will do any adjusting and recurring
journal entries that need to be done.
Financial Statements and
Management Reports
We will provide custom designed financial statements and management
reports. Do you want previous year
comparison statements, or current period and year to date comparisons? Tell us what bookkeeping reports you need and
we will design them to your specifications.
Other day to day QuickBooks
bookkeeping services include;
• Payroll preparation
• Monthly/quarterly
payroll + HST filing
• Miscellaneous
bookkeeping and administrative work
Year End Accounting
We can simplify things at the end of the year for you by conducting a
year end review of your books and gathering the information for the annual
audit and/or tax returns. This consists
of, but is not limited to, analyzing the balance sheet and income and expense
accounts, making any necessary adjustments and preparing schedules, with the
appropriate backup, for all the balance sheet accounts.
Fixed Asset Management
Managing fixed assets can be a time-intensive process that you
probably would like to forget about but can't afford to ignore. We can set up a
fixed asset management system that is easy for you to use, or we can manage it
for you. Fixed Asset Detail would include: purchase date, serial number, and
manufacturer, as well as life of asset and depreciation method. Depreciation
would be calculated monthly or annually.
We can also project the depreciation expense for future periods.
Accumulated depreciation and book value will also be calculated.
Cash Flow Projections
Cash management is crucial.
When will your receivables come in?
Are you paying your bills too quickly?
Will you be able to meet next month's payroll? How much cash will you have in 3 months? Will you need a bank line of credit this
year? Cash flow projections work in
conjunction with your financial statements to provide the answers to these
questions. Working closely with you, we will prepare cash flow projections that
will alert you to any cash shortages that may lie ahead, providing you with
enough time to develop appropriate strategies.
Other Accounting Services Include:
• Budgeting
• Inventory control
• Inventory analysis
• Interacting with
outside auditors
• Overhaul existing
accounting systems
• Accounting system setup
on new and existing companies
• Implement record keeping
and accounting procedures
• Miscellaneous
accounting and administration
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