Running your own business means you have more important things to do than accounting. When it comes to NY small business accounting, we are the Manhattan small business CPA you've been looking for. We're here to expertly handle your books so that you don't have to. That way, you can get back to doing what you love best -- running your business, innovating, taking things to the next level, and generating more profit.

We're available on a monthly or quarterly basis to do the following:

• Provide income statements
• Reconcile bank account(s)
• Maintain your general ledger
• Generate a balance sheet
• Answer all of your accounting questions

These tasks will form the foundation for your basic accounting package. From there, a Manhattan small business CPA, like Armel Tax, can customize offerings to your needs by adding services such as payroll, tax preparation, tax planning, and more.

Having your business bank account reconciled every month makes it easier to maintain your general accounting and tax information. We will be able to:

• Identify any lost or missing checks, deposits or other items
• Identify unauthorized wire transactions
• Detect/prevent unjustified or excessive bank charges
• Ensure that transactions are posted accurately by your bank
• Detect/prevent fraud and/or internal embezzlement of funds

These services will result in:

• All accounts reconciled and properly accounted for on your financial statement
• More effective cash management
• Timely reporting and reconciling of unauthorized or fraudulent items (such as forged checks)
• Added financial protection

You will sleep better and have more peace of mind knowing that your bank accounts are being monitored and reconciled!

This document includes an itemized list of your revenues and another list of your business expenses. The result is a profit or loss for that period.

A profit and loss statement allows you to:

• Track revenues, expenses and business performance
• Find over-budget and under-budget areas
• Identify unexpected expenditures
• Track dramatic increases (such as cost of goods, product returns, etc.)
• Calculate your income tax liability

Balance sheets can give a concise snapshot of how your business is doing at any given time. They can help you to:

• Know the current financial strength of your business
• Identify trends
• Determine if your business can handle ebbs and flows in revenues and expenses
• Determine if immediate bolstering of your cash reserves is needed
• Identify the start of slowdowns that could lead to a cash shortage
• Determine if your business is in a good position to expand

Balance sheets, along with profit and loss statements, are the basic elements of financial reporting. You will need them to approach potential lenders such as investors, banks and vendors considering extending credit to your business.

General ledgers, or "the books," are the backbone of business records. Every transaction flows through your general ledger, therefore even a small problem can affect all of your accounting. We can review your general ledger each month to identify any discrepancies and address them on the spot.

Consultations are included in our price, so we are always available to answer any accounting questions you may have. If you're in need of NY small business accounting, we are ready to be your Manhattan small business CPA. You may use the form below to get started with a free consultation.