Tax & Accounting Fairfax, Alexandria, McLean Virginia

Tax & Accounting Services for Small Business

A lot of small business owners are hard pressed for time as they are engaged in a lot of core business activities and can be able to achieve more than handling their tax & accounting and manage their finances. Leave the worries of taking care of your bookkeeping and tax & accounting to us and devote your time into running your business more effectively and generating more revenues!

We provide quality services of tax & accounting management in the Washington, DC, Maryland and Northern Virginia area, with a primary focus on Alexandria, Annandale, Falls Church, Fairfax, Great Falls, McLean, Oakton, and Vienna.

This is an outline of the services we shall be providing each month or quarter for you...

Bank Account Reconciliation
Income Statement Provision
Balance Sheet Preparation
General Ledger Upkeep & Cleanup
Available For Unlimited Consultations

The tasks mentioned above constitute the fundamental structure of all small business tax & accounting systems and procedures. We also provide customized service packages where our clients can select services of their choice; these services can include tax planning, payroll, tax preparation or any other service provided by our organization.

Reconciliation of Bank Statement

With any business, knowing how much cash your company has on hand and available for use is one of the most important tools an owner can have. Thus, having your business checking account reconciled every month will provide a business owner with this much needed tool.

In addition to knowing one's cash balance, here are some of the advantages of having your account reconciled each month by us...

It allows for the identification of any unauthorized wire transaction, lost deposits, and lost checks.
It allows for the detection and prevention of excessive bank charges, as well as ensuring that all transactions have been posted correctly by the bank.
It allows for the business owner to identify and avert potential embezzlement efforts within the business organization.
It allows the business owner to be to control and manage their cash flow more effectively.
It allows the business owner the peace of mind that comes with being on top of their cash flow by not worrying about how to pay for inventory, wages, rent, taxes and other business related expenses.

Income Statement

A profit and loss statement or more commonly known as an income statement essentially provides itemized details of all your revenues and deductions, in and itemized detail for a given period of time. By getting our tax & accounting services, you can ensure that your financial statements are in order all the time, which will allow you…..

To keep track of revenues, receivables, accounts payable and related expenses; this enables you to ascertain the current operating performance of your organization.
To identify which aspects of your business are over-financed or under-financed.
To determine if there are any unexpected expenditures and what specific elements are causing these expenses.
To detect any drastic increases in product returns or sharp rise in cost of goods sold against the percentage of sales.
To calculate your income tax liability accurately through our tax & accounting services.

Balance Sheet

A balance sheet illustrates to any business the historical financial condition of that business at specific point in time.

An up-to-date balance sheet enables an owner to...

Get a grasp of their business's financial strength and capabilities.
Analyze and determine accounts receivables and payables patterns and trends. For instance, if the receivables cycle are increasing in terms of outstanding collection, an owner can take corrective actions and institute collection changes so as to reduce the outstanding time it takes to collect their receivables.
Ascertain if it may be a good time to expand business or to cut back on expansion.
Conclude if one's business is in a position to easily withstand the routine financial ups and downs in the economic environment to which one is doing business.
Ascertain if any steps may be needed immediately to boost cash reserves. Together, the balance sheets and income statements can play a pivotal role in providing a business owner a clear picture of what finances might look like to potential investors, lenders, such as banks or vendors, considering granting credit to a business.

Maintaining a Clean General Ledger

The general ledger constitutes the core of financial records of any organization. All transactions flow through the general ledger, thus, any problems with a company's general ledger can mean that the financial soundness of ones' business is not accurate and can lead to major issues both with lenders, creditors, taxing agencies and much more.

When a business has its general ledger reviewed by us each month, it enables our firm to track down any discrepancies, such as double billings or missing payments, that may not have been recorded. By having our firm fixe these discrepancies on a consistent basis the company can be assured that their books are always accurate.

Unlimited Consultations

At Ekanger & Associates, PC, our clients will always find us available to take care of their financial needs so that they can be able to interpret and understand the provided financial information. If you become a monthly retainer client, consultation fees relating to your accounting and bookkeeping needs are included in your monthly fee, thus feel free to telephone or email us and we will return your call or email within a twenty four period , unless an unexpected emergency arises.

If you like what you have read and seen, why wait, Hire the most experienced CPA firm for all of your tax & accounting services in the Washington Metropolitan area, Ekanger & Associates, PC.

Tax & Accounting for Small Businesses