Bookkeeping Services For Businesses

We provide comprehensive bookkeeping services to smaller businesses throughout Redding, CA, and the surrounding areas. Our team will ensure that your financial transactions are accurately recorded and properly organized and provide your business with usable financial statements. Our meticulous bookkeeping process allows you to closely monitor your income and expenses, both of which are crucial for helping your business reach its full potential.

Chart Of Accounts

Creating a chart of accounts is critical to your bookkeeping process. This is a list of accounts, usually with numbers, that you use to record financial transactions. Your chart of accounts must be carefully designed to maintain alignment with your industry and your financial reporting goals. Our team specializes in best practices for designing and optimizing your chart of accounts.

Month-End Closing

The month-end closing process includes the reconciliation of all of your balance sheet accounts, such as your bank accounts and credit cards. The process should also include verification of your most important accounts, including direct expenses, gross revenue, gross profit, and salaries and wages, to name a few. By regularly performing your month-end closing process, you ensure that you have up-to-date financial data available whenever you need it. It helps to have a month-end closing checklist to ensure that your books are accurate and up-to-date every month.

Year-End Closing

The year-end closing process is not unlike a month-end close. Besides being performed once a year instead of once a month, the main difference is that a year-end close is more comprehensive. A year-end close typically incorporates estimates for items such as depreciation, amortization, and interest expense. You must perform a year-end close to reconcile your company’s entire balance sheet and so that you can review all income and expenses for reasonableness. When a year-end close is performed, it should include a comparison to prior year-end closings. A comparison will help you find any income and expense coding errors or inconsistencies. We recommend using a year-end closing checklist to ensure that you cover all of your bases year-by-year.

General Ledger

Finally, there’s the general ledger. The general ledger is a full sequential report detailing all of your transactions for the year and is coded to the accounts in your chart of accounts. We recommend that the general ledger be reviewed every quarter at the very least. Doing so can help you discover any existing coding errors or inconsistencies and provide you with a detailed view of all transactions. We can help design a numbered chart of accounts that aligns with your industry and best practices.

Invest In Bookkeeping Services For Your Business in Shasta County, CA

Our comprehensive bookkeeping services will provide you with the financial information you need when you need it, making it easier to plan for the future and make critical financial decisions. Because our team provides tax and business planning services, we also take a more holistic, long-term view of the bookkeeping process. We believe that our bookkeeping services function as a tool to ensure business success.

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