Financial statements tell the story of where your business has been, and forecasts enlighten the reader of where your business is going. Both prove useful when you are pursuing bank credit facilities or courting prospective buyers and investors. Linked Accounting has extensive experience in presenting the important details of your story to third parties. Our team will meet with you in the final months of the fiscal year to review the financial story of the year, review your financial ratios and make recommendations of changes you will want to make prior to the closing of your fiscal year so the best story of your business is presented to your lenders and other interested third parties.
Accurate financial statements start with effective and correct bookkeeping procedures. If cost were no factor, businesses would routinely hire CPAs to perform all internal accounting functions because of their extensive experience, education, and licensing requirements. However, cost is a factor. Linked Accounting recommends your internal accountant staff perform daily, time sensitive accounting functions like invoicing, paying bills, bank deposits and payroll. However, we suggest you outsource the monthly reconciliation and month-end closing procedures to our experienced professionals.
Many monthly end closing procedures and reconciliations can be efficiently and correctly completed in minimal time when seasoned professionals perform this limited scope engagement each month. Procedures include:
- Reconciling all bank and credit card accounts. Ensuring uncleared items that will never clear are resolved.
- Reviewing Accounts Receivable aging reports for errors
- Properly accounting for fixed asset acquisitions, dispositions and monthly depreciation
- Reviewing Accounts Payable aging reports for errors
- Properly recording payroll costs and tax obligations
- Ensuring month-end loan balances are accurate
- Clearing all unresolved entries from your internal staff
Upon completion, our professionals will issue a report to you that includes financial statements and highlighted issues we believe require your attention.
Month-end Reconciliations and Closings
Linked Accounting is a full-service accounting firm serving clients nationally.