NYC Small Business Accounting Services

We can prepare statements for any type of business or for personal financial purposes. These statements may include Balance Sheets, Statements of Equity, Profit and Loss Statements and Statements of Cash Flow. We can prepare formal accrual basis statements in accordance with Generally Accepted Accounting Principles established by the American Institute of Certified Public Accountants. We can also prepare statements on a cash basis, which is another form of financial presentation. In addition, we can design and prepare internal management reports addressing specific issues and needs. Most statements will include comparatives with your budget and prior periods reflecting variance amounts and percentages. Our statements are frequently accompanied with graphs and charts providing visual representations depicting many different perspectives of your operations, showing changes and trends over periods of time and relationships between key factors of your business.

The General Ledger is perhaps the most important component of any business set of books. It contains a summary of every transaction and adjustment needed to prepare financial statements and tax returns. It is the key map to your audit trail, whereby any item in your tax return can be traced to the original supporting documentation. Many companies are moving towards greater in-house accounting responsibility with off the shelf or customized user-friendly comprehensive accounting software. With proper training and adequate software, you can prepare your own in-house accounting reports and bank account reconciliations. We can step in and provide services starting at whatever point in the accounting process you wish. You can provide us with journals or an unadjusted trial balance and have us make the necessary adjustments to prepare accurate general ledgers, financial statements and tax returns. If you wish, we can help you develop your own system further by training or assisting your staff in making the monthly adjustments necessary to prepare your own in-house general ledgers and financial statements.