We can prepare or supervise the preparation of your financial statements. Compiled or reviewed statements can be provided according to your needs.
More importantly, we can help you use these statements, as well as other reports, to better manage your business and increase your profitability. Good financial records are necessary for several reasons:
- Daily operating decisions are based on financial reports.
- Bank loans require reports of past performance.
- Tax return numbers need proper substantiation.
We recomend that you prepare financial reports monthly or at least quarterly. This makes for quick management decisions after a review of financial activity. You can compare the sales, gross profit, and net profit at, say, the end of May, with prior years and get a good idea of how the current year will finish. You can compare the total accounts receivable or payables with prior years to spot problems and then quickly take corrective action.