General Ledger Maintenance
Business transactions must be properly classified into appropriate categories according to trained CPA standards and the laws which apply to your business. Our comprehensive accounting software allows for consolidated financial reporting throughout your organization. Generating the required information to manage your business, provides an accurate picture of your income and eliminates costly fines and penalties.
Statement of Income and Expenses
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 come up with a profit or loss for the period.
An income statement allows you to...
- Track revenues and expenses so that 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. Like phone, fax, mail, or supply expenses.
- Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.