Reno, NV Accounting Firm | Small Business Accounting Page | Albright & Associates, Ltd.

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.

Monthly or quarterly we can provide the following accounting services...

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

 
Bank Reconciliation

Reconciling your business checking account each month allow you to keep your bank account, accounting, and taxes up-to-date. You can't really know unless all transactions are reconciled and properly accounted for on your financial statement.

Having us reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized wire transactions.

  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

  • Protect yourself. By timely reconciling, identifying and correctling any problems within your bank activity.
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Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to arrive at a profit or loss for the period.

An income statement allows you to...

  • Track revenues and expenses so you can determine the operating performance of your business.

  • Determine what areas of your business are over-budget or under-budget.

  • Identify specific items that are causing unexpected expenditures. 

  • Comparative financial statements help identify current activity against prior periods and help identify significant variations in operations.

  • Assist you in determining your income tax liability.

 
Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

  • Quickly get a handle on the financial strength and capabilities of your business.

  • Identify and analyze trends, particularly in the area of cash, receivables and payables. 

  • Determine if your business is in a position to expand.

  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses.

  • Determine if you need to take immediate steps to bolster cash reserves.

  • Determine if your business has been deferring the payments to vendors which could ultimately result in a cash shortage.

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

 
Maintaining an accurate General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger can distort the accuracy of your financial statements.

An accurate general ledger allows for the identification of discrepancies such as misrecorded payments. We can then assist you in recording any necessary adjustments in order to always maintain an accurate general ledger.

Payroll Tax Compliance

Maintain your payroll records in compliance with federal and state reporting requirements.

  • Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
  • User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.

 


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