Our Small Business Accounting Services
No matter what accounting services your business needs, we are here to help. Some of our most popular small business financial services include the following:
- Generating reports and analyzing financial data
- Evaluating cash flow and improving profitability
- Strategic tax planning and financial forecasting
- Accounting systems setup
- Implementation of internal controls for fraud protection
- Preparation of financial statements, including profit statements and balance sheets
- Outsourced CFO services
- New business formation
Generate Reports and Analyze Financial Data
We can analyze your company’s finances to generate reports and obtain a clear understanding of your business’ financials. This includes drawing up your profit and loss statement, also commonly referred to as an income statement.
This itemized list includes your company’s revenues and expenditures to determine what your profits or losses are for a given period of time. An accurate income statement helps your small business to:
- Identify unexpected expenditures
- Track expenses and business revenue
- Determine business operation performance
- Track budgetary concerns
- Determine tax liabilities
- Identify unexplained increases in product returns
Evaluate Cash Flow and Improve Profitability
Your business needs to have positive cash flow if you hope to grow. If your company is currently bringing in less than you are spending, you have negative cash flow. And you can’t have that for long.
Every business may experience negative cash flow. But with our knowledgeable accounting firm working for you, you can manage your cash flow, improve profitability, and invest in your business. We can handle the:
- Preparation of monthly, quarterly, and annual cash flow statements
- Development of cash projections
- Collection process
- Process of securing the maximum rate of return on surplus cash
- Analysis of the prior period’s cash flow statements
- Applications for obtaining lines of credit
- Preparation of your business’ budgets
- Development and implementation of payment and billing policies
Strategic Financial Forecasting and Tax Preparation Services
Small business owners need to be able to spend their time crafting their products, sharpening their services, and focusing on core business matters. There simply isn’t any time for reading up on current tax laws, reviewing your financial records to determine which tax breaks apply to you, and preparing for tax season.
Perhaps you handled accounting and taxes for your business in the past. But once you hire employees, have improved profitability, and need to determine what your estimated taxes will be, you may need a trusted financial advocate to help you secure your business’ future.
Fortunately, when you hire us, you can turn your attention to your business while we handle your tax planning and financial forecasting.
Let us make your life easier. Rodriguez Reiffert & Co., can set your business up for success by:
- Finding applicable tax credits and deductions
- Preparing and filing your federal income taxes
- Preparing your profit and loss statements
- Handling your state and federal payroll taxes
- Helping to ensure sales tax compliance at the local and state levels
- Minimizing tax liability
- Choosing the right entity selection and structure
- Assisting with mergers and acquisitions
Accounting Systems Setup
Does your business have a general ledger? Is there any type of accounting system currently in place? Your general ledger, also commonly referred to as your “books,” should contain every transaction that flows through your business. Throwing off your books could put your business in jeopardy. We will need to carefully review your company’s financial records to point out any discrepancies and address them promptly so your records are always accurate and up to date.
Implementation of Internal Controls for Fraud Prevention
It is important to keep a close eye on your financial records through the use of internal controls. These rules and procedures can detect and prevent embezzlement, unauthorized transactions, fraudulent or forged checks, and other instances of fraud.
Our careful review of your finances can help reduce your risk and help prepare you to handle instances of fraud as they arise.
Preparation of Financial Statements
Another key responsibility of any small business CPA is the preparation of your business financial statements. We can do these quarterly, monthly, or annually, depending on your preferences and your business needs.
Your profit statements and balance sheets will be of particular importance, describing your company’s financial status at any given time. We can use your balance sheet to:
- Ascertain your opportunities for business expansion
- Determine your company’s financial capabilities
- Determine your business’ capacity for the rise and fall of revenue and expenditures
- Identify and analyze company financial trends
- Forecast and identify cash shortages
- Identify the need to bolster cash reserves
Your balance sheet, income statements, and other financial records are going to provide critical financial information to prospective investors and lenders. For this reason, it is critical that they be detailed and accurate so you can secure the credit you may need to expand and grow.
Outsourced CFO services
If your small business is ready to outsource your CFO duties, Rodriguez Reiffert & Co. can help. Our team is here to assist with a wide array of CFO responsibilities, including the following:
- Forecasting
- Cash flow analysis
- Management of finances
- Budgeting
- Other major business decisions
New Business Formation
The way your business is structured can have profound impacts on your tax liability. Our team can help entrepreneurs, startups, and aspiring business owners select the best business entity for tax purposes, prepare partnership agreements, create business plans, build business budgets, and much more.