Chicagoland CPAs – 773-930-4503
As a small business owner, you’ll always have a number of things calling for your attention besides maintaining your own bookkeeping. With Chicagoland CPAs at your service, our experienced staff is here with professional Accounting Chicago that will allow you to focus on the demanding task of running your small business and generating revenue.
Based upon the kind of Accounting Chicago schedule that is the best fit for your small business, each month or quarter we can provide services like:
*Provide an income statement and a balance sheet
*Reconcile your accounts
*Update your general ledger
These essential Accountant Chicago tasks establish a firm base for all of your small business accounting needs. We can put together a customized package of accounting services for your small business including payroll, tax planning and tax preparations.
Accountant Chicago – Bank Reconciliation
A bank reconciliation is basically the practice of matching the balances in a business’ financial records for an account with the corresponding information depicted on a bank statement. The purpose of the process is to identify differences among the two and to make updates to the Accounting Chicago records as deemed appropriate. Reconciling your small business checking account monthly enables our team to verify that your accounts and taxes remain current in addition to:
*Identify lost deposits, checks and unauthorized wire transactions.
*Locate and prevent excess or unjustified charges, confirm transactions are posted accurately by your bank.
*Identify and protect against potential embezzlement of monies from within your small business.
More benefits of professional Accountant Chicago services
*Effective management of your small business cash
*Safeguard your small business. By promptly objecting directly to your bank in the event of any unauthorized or forged or fraudulent checks that are presented and paid by your bank, you’ll relieve your business of responsibility for any resulting shortfall and shift the risk to the bank.
*Confidence. Small business owners can rest assured knowing their accounts are reconciled, in proper balance and with escrow funds, accounts, checks and disbursed funds correctly accounted for.
*Income statements. Also known as a profit and loss statement, an income statement adds an itemized list of your revenues and subtracts a list of expenses to show a profit or loss for that particular time period. An income statement also enables owners and managers to track revenues and costs to help gauge the performance of their small business.
*Identify which areas of your small business are performing over or under budget and which items
may be leading to unanticipated expenses.
*Track sudden changes in product returns or in the cost of goods sold as a percentage of sales.
*Determine the income tax liability of your small business.
Balance Sheet – A Picture of Your Small Business’ Financial Condition
A balance sheet is useful for providing a window to the financial condition and capabilities of your small business. It’s a way of identifying and analyzing trends, especially with respect to accounts receivables and payables. It also allows owners to determine if their small business is capable of an expansion and managing the typical ups and downs of revenues and costs. Along with income statements, reliable balance sheets are a fundamental part of accurate financial reporting to possible lending sources like banks or private investors.
Maintaining an Accurate, Current General Ledger
A general ledger serves as an essential record of your business’ finances. With an experienced Accountant Chicago reviewing your general ledger every month, our staff can detect any discrepancies like double billings or unrecorded payments.
A complete look at our Accountant Chicago solutions for small business includes:
* Tax prep for small businesses, multiple-states, individuals, partnerships and corporations
* Financial statement preparation
* Audits and compilations
* Tax consulting
* Certified small business appraising
* Budgetary and finance projections
* Business planning and development
* Restructuring of debt
* Payroll services
* Support with financial accounting software
* Incorporation in the City of Chicago and formation of small businesses
In addition to our Accountant Chicago services for small businesses, Chicagoland CPAs also provides expert, affordable accounting and bookkeeping for:
Law Firm Accounting. At Chicagoland CPAs, we believe in the old saying “time is money.” This certainly applies to law firms – regardless of whether you are a sole practitioner or a large firm with multiple lawyers. A busy law office will often not have the extra time to spend on internal accounting practices. Our Accountant Chicago staff has considerable experience serving legal professionals and can provide your firm with useful, timely advice that will help you manage the financial aspects of your practice in areas including:
* Retirement planning and compensation
* Buyouts, mergers and acquisitions
* Planning for succession and partnerships
* Bookkeeping, finance statements
* Accountant Chicago tax planning and compliance
* Assistance with audits and cash flow assessment
Construction Firm Accounting. For the specific requirements of contractors, home and commercial builders and related tradespeople, our clients know that they can always rely on our staff for professional Accountant Chicago solutions. We have experience in construction industry accounting practices and apply dependable financial management tools. Our client services for Chicago’s construction industry include:
* Complete accounting and tax solutions for businesses and individuals
* Surety bond services
* Job pricing and development
* Equipment cost assessment
* Restructure debt, overhead
* Cash flow evaluation
* Construction software services with Accountant Chicago
Accounting for the Tech Industry. Chicagoland CPAs provides customized accountant services for the specific requirements and regulations of today’s rapidly evolving technology industry. Talk with our Accountant Chicago firm about finance management, tax and accounting for:
* Computer repair and software development
* Website hosting and site development
* Information technology consultation
* Database management and storage
* Tech start-up companies
Chicagoland CPAs offers a free, no obligation consultation appointments for business owners and entrepreneurs. To set an appointment just contact our Accountant Chicago offices at 773-930-4503, extension 103, and speak with Dario.
Hospitality Industry Accounting. Hotels, night clubs, restaurants and entertainment-based companies here in Chicago know they can depend on our staff for accounting expertise that is relevant to their one of a kind industry. Because we have a comprehensive understanding of best Accountant Chicago practices for the hospitality industry, businesses of all types and sizes can depend on Chicagoland CPAs for:
* Comprehensive tax service and tax consultation
* Accounting for point-of-sale transactions
* Price and cost systems for food, beverage and labor
* Tip allocating
* Cash flow assessing and payroll
* Budgets and finance projections
There are many well-established accounting software programs that fulfill the requirements of both entrepreneurs and small businesses. Although it makes bookkeeping significantly easier, it calls for sufficient familiarity of its features and capabilities. To maximize the software for effective business applications accounting software has to be installed and set up properly. Our Accountant Chicago firm is certified by a leading accounting software company and we provide assistance for a number of our clients with professional training and problem solving for the program to help get them on target for reliable and timely bookkeeping.
As a busy entrepreneur or owner of a small business, your time has real value. To make the most of it we provide accounting software training and ongoing support. To discover more about business accounting software and our other Accountant Chicago solutions call Chicagoland CPAs today at 773-930-4503, extension 103.