accounts payable
Potentially the most vital key to a company’s survival and success is the management of its payables. However, in a fast-paced society it is difficult to find time to properly review, track, and pay your bills. This is where $mall Biz Accounting and Consulting ($BAC) comes to the rescue. By tracking your outflows, $BAC is able to help you:
- Know exactly where you stand financially at all times
- Identify billing errors before bills are paid
- Minimize late fees and maximize cash flow
- Have more time to grow your business
budgeting and reporting
$mall Biz Accounting and Consulting understands that as a decision maker you need to know where your organization stands financially at all times. One uninformed decision could cost your organization greatly. This is why $BAC is so passionate about regularly reporting to their clients in a way that is comprehensive and yet comprehendible. This enables you to:
- Understand where/why your business is making or losing money
- Identify and control overhead costs
- Project where your business will be in 6-12 months
- Budget and save for the future
We can prepare financial information in specific reports to management, investors and shareholders that are easy to understand. These may include:
- Balance Sheet
- Cash Flow
- Budgets
- Profit & Loss
- Job Profitability
Accounts Receivable
Income is the most important part of your business, and so it should be. That is why $BAC takes painstaking efforts to ensure that your receivables are handled in a secure, timely, and efficient manner.
$BAC provides the following accounts receivable services:
- Client billing and invoicing
- Payment collection and processing
- A/R reconciliation and reporting
Benefits to having $BAC manage your receivables include:
- Convert receivables to revenue quickly and efficiently
- Minimize personnel expense and collection agency fees
- Maximize reimbursement and reduce bad debt
Bank Reconciliation
Bank reconciliation is potentially the most fundamental and yet most important step in proper bookkeeping. That is why $BAC takes it so seriously. By reconciling your bank accounts on a regular basis, $mall Biz Accounting and Consulting will help you:
- Identify lost checks or missing deposits
- Detect and prevent against embezzlement of your funds
- Avoid excessive or unjustified bank fees
- Quickly detect potential fraudulent activity
- Know your books are accurate and up to date
Wherever possible, $BAC reconciles on a monthly basis. Reconciliation reports are saved and kept as part of each client’s records.
Keeping track of the assets of the company for the purposes of financial accounting, preventative maintenance and theft deterrence is an important task that can save companies money and time.
Organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. $BAC's fixed asset services include:
- Creation
- Capitalization
- Depreciation
- Accruals
- Journal entries
- Acquisition and disposal
Fixed Asset Management
Every audit needs one central point of contact. Companies that are prepared for their audits and can work smoothly with their auditors end up saving time and money. $BAC will:
- Support organizational audits and other projects to improve people, processes and systems within your company
- Support the tracking of audits, the audit follow-up schedule and storage of audit reports
- Coordinating, handling requests, physical arrangements, obtaining documents, compiling information
- Follows up on corrective actions and report progress to external auditor