OUTSOURCED BOOKKEEPING SERVICES

Well-organized, meaningful financial records ensure a business runs more efficiently. KMK Ventures’ accounting and bookkeeping service USA provides a full range of cost-effective bookkeeping services that include

• General ledger and financial statement preparation
• Monthly, quarterly, and annual bookkeeping
• Set up accounting systems for new businesses
• Payroll services
• Sales & Use and business property tax returns
• Personal financial statements
• Litigation support

Reconciling the business checking account every month keeps accounting, the bank account, and taxes up-to-date. A reconciled bank account allows

• Identifying lost checks, deposits, and wire transfers that were not authorized
• Detecting and preventing excess or unjustified bank charges and ensuring transactions are posted correctly by the bank
• Detecting and preventing embezzlement of company funds
• Knowing how the business is doing – It is difficult to understand without all accounts reconciled and accounted for on a financial statement.
• Managing cash more effectively – Proper funds management saves and makes money for a business.
• Protecting the business – Timely reconciling and objecting promptly to any forged, fraudulent, or unauthorized checks presented to the bank and paid can relieve your company of the responsibility for a shortfall and transfer the bank’s risk.
• Having peace of mind – You sleep better knowing the bank accounts are reconciled, balanced, and all disbursed funds, checks, accounts, and escrow fundsare accounted for properly.

An income statement adds a list of revenues and subtracts a list of expenses to determine the profit or loss for a period – month, quarter, or year. An income statement permits

• Tracking revenue and expenses to determine the operating performance of a business
• Determining the areas of a company that are over- or under-budget
• Identifying specific items that cause unexpected expenditures such as supplies, mail, fax, or phone expenses
• Tracking a dramatic increase in the cost of goods sold or returns as a percentage of sales
• Determining the income tax liability .

A balance sheet is like a snapshot of the financial condition of a business a specific point in time. It helps in

• Quickly get a handle on the financial capabilities and strengths of a business
• Identifying and analyzing trends, especially in the areas of receivables ad payable
• Determining if a company is in a position to expand
• Determining if a company can handle the ebbs and flows of expenses and revenue
• Determining the need for immediate action to bolster cash reserves
• Determining if payables have slowed down to forestall a cash shortage

Balance sheets and income statements are the essential elements in financial reports provided to potential lenders such as vendors, investors, and banks who consider how much credit to extend.

The core of a company’s financial records is the general ledger. Every transaction flows through it. A problem with the general ledger affects all bookkeeping. We review the general ledger system every month to find discrepancies like unrecorded payments or double billing. Our virtual staff fixes the discrepancies so that the general ledger is accurate and in tip-top shape.

Our

outsourced bookkeeping service USA

is available to spend time with clients, so they fully understand how to interpret and use the information we provide. Consultation services are included in the price.