Small Business Accounting

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Your initial free consultation will consist of the following content:

Initial business start up requirements, including business organization structures and the best suited to your business. A poorly organized business can be very costly. Proper licensing will also be researched to your business. All documentation is generated by Quail Oaks so you can rest assured your are set up correctly; including Federal ID, State Bin and Employer ID, EFTPS, State EFT, S-Corp banking and corporate minute book documents.

Banking - depending in the organization, how should the ban accounts be managed? We will walk you through all the in's & outs, & do's and don't's.  

Vehicles - Should your vehicle be an asset to the business or should you own it and lease it back?

Home Office - Do you have a legal home office and how should the expenses to maintaining that Home Office be managed? This depends on your organization - be will assist in making sure you understand the correct way to deduct your home office.

Bookwork - Do you have the time but need the training to manage your own bookwork. We'll set up your books and train you or your staff to properly maintain the books correctly. We can also audit the books on a monthly, quarterly or yearly basis. This is your choice.

Payroll - Allow us to set up your payroll and show you how affordable payroll is in QuickBooks! We will audit the monthly deposit requirements and the quarterly reports for a fraction of the service bureau costs!

Special Internet Pricing!

Flexibility is an important aspect of Quail Oaks Financial. A wide range of services are offered, including bookkeeping, accounting, payroll management, data processing and tax preparation. The bookkeeping/accounting software used is either New Views or QuickBooks (Intuit) family of products. Both are widely available and universally well known as solid, well tested and stable bookkeeping software packages. Our bookkeeping services can be set up either on-site (at your office) or off-site (at ours). On-site arrangement. The work is done at your office using your computer system and accounting software. Appointments can be arranged at a time that, as much as possible, matches your schedule. This service is available within a 60 mile radius of Portland, OR. Off-site arrangement. You provide the necessary paperwork and we manage the data using our computer system and software. Paperwork will be returned to you when completed. There are advantages to either method: On-Site Advantages: Data is input into your computer system at your business or home office. Your documents never leave your premises. Bookkeeping work is scheduled to be done at a time convenient to you so we can discuss your business transactions if necessary. Off-Site Advantages: You furnish the necessary paperwork and the information will be input into our computer system. No requirement for you to own a computer or purchase accounting software. In addition to the hard copies of your paperwork, we also provide you with back-up copies of your data in digital format. A copy is also kept at our office so that in case your files are damaged or lost, we have a back-up copy. You don't need to own a computer to benefit from the advantages of computerized records. If you later decide to purchase a computer, all your records can be transferred onto it. No additional travel expense fees. In either set up, you will be provided with periodic summary reports. You can also receive management reports and be reminded of upcoming tax deadlines. Be assured that your financial information will be kept strictly confidential. The security of your business records is important to us. They will be maintained accurately and confidentially! Price Information:   Account set-up - $ Ask about our Flat Fee Services or $45/hr Reports preparation - $ Ask about our Flat Fee Services or $45/hr Data entry - $ Ask about our Flat Fee Services or $45/hr Payroll check processing - $ Ask about our Flat Fee Services or $45/hr Website Promotion - $ Ask about our Flat Fee Services or $45/hr Travel (round-trip) - $   Federal Applicable Rate Consultation & Phone Call Questions - $   ALWAYS FREE New customers!!!!       CALL or Email today for an initial credit of $ 50.00 off any service

 

 
Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

• Identify lost checks, lost deposits and unauthorized wire transactions.
   
• Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
   
• Detect and prevent embezzlement of funds from within your company.
   
• Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
   
• Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
   
• Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
   
• Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

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.

 
Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

• Quickly get a handle on the financial strength and capabilities of your business.
   
• Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
   
• Determine if your business is in a position to expand.
   
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses? 
   
• Determine if you need to take immediate steps to bolster cash reserves?
   
• Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

 
Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

 
Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

If you'd like to receive a Free Consultation on our Small Business Accounting Service, please complete this form.