BOOKKEEPING SERVICE NEW YORK CITY

In all states of the USA, it is mandatory that employers maintain proper bookkeeping. This refers to but is not limited to records of their products, employees, customers, expenses, etc. As it is the law of the country, every company, big or small, should oblige as they could randomly be called upon for an audit by a government agency.

To avoid any problems in an audit, it is best that any company be prepared and have full records. Our firm offers bookkeeping services if a company wants to outsource them. When it comes to bookkeepers in NYC, we are one of the best in the state of New York.

Accounting Service

  • BOOKKEEPING SERVICES
  • PAYROLL SERVICES
  • CFO SERVICES

CONTACT US

bookeeping nyc

OUR PROCEDURE

We adhere to a procedure before providing any services. We hold a meeting to assess what you need and then guide you through it. We want you to be a part of the process as we are doing accountancy for your company. That is one of the reasons that we send monthly updates so that you are fully appraised with any changes that take place in your company’s finances.

WHY IS BOOKKEEPING NECESSARY?

This is a question that any new company owner is bound to ask. There are quite a few benefits to it, such as:

  • Maintenance of Records:
    • This is a great way to maintain your records.
    • Through bookkeeping, you can keep tabs on your stock as well as your annual and monthly expenses.
  • Preparation for audits:
    • It is a great way to be ready for audits.
    • Notices for audits by any government agency are usually random and by surprise.
    • If your records have been maintained, you will not need to feel nervous during the audit.
    • This helps you stay ahead and have all the required records for an audit available.
  • Transparency:
    • Records are evidence that certain things took place at a certain time.
    • This way, in case there are any allegations, the company can use its bookkeeping records to prove its innocence.
  • Easy detection of fraud:
    • If you feel like you have been deceived, then you can easily check your records to find any discrepancies.

WHAT OUR FIRM OFFERS:

The services that we offer are as follows:

  • ACCOUNTS RECEIVABLE:
  1. Accounts Receivable is the balance left to be paid by a customer after purchasing a good or acquiring some service from said company.
  2. It is the amount of money left on credit to the company by the consumer.
  • Our firm makes a complete record of any amount that you have yet to be paid by the customers
  1. This way you will know what amount of money is owed to you.
  • PROFIT AND LOSS ACCOUNT:
  1. A profit and loss account is a financial statement, which states the sales, costs, and expenses in a summarized form after a specified period.
  2. This is usually done after every quarter of the year.
  • We provide this service monthly as well, so that you can tabulate and compare your profit and loss statements and get an idea of how your company is progressing.
  • BANK RECONCILIATION:
    1. A bank reconciliation is when the balance of a cash account of the company is matched with the bank statement to observe any changes.
    2. These changes are to be found so that they can then be booked as relevant.
  • This is basically like a review of your finances
  1. Our firm offers this service so that there are no discrepancies in your finances.
  2. This too is done every month so that if there is any difference, we can find it out early on and avoid any problems.
  • BALANCE SHEET:
    1. A balance sheet is a statement of all of a company’s assets, capital, and liabilities with a detailed explanation of its revenue and expenses.
    2. As the name suggests, it is used to balance out all of a company’s finances so that there is a clear and detailed record of all monetary dealings.

WHERE ARE WE LOCATED?

Our firm is situated in the state of New York. We cater to businesses from the city of New York and its five boroughs, namely Manhattan, Bronx, Brooklyn, Queens, and Staten Island specifically.