Tracking & Recording Your Business Activity:
Bookkeeping is a vital and necessary component of any business. Adhering to basic accounting principles is essential for success in any size business. Experienced and competent record-keeping and financial analysis is key to not only monitoring your expenses, but to discovering new avenues of growth. Additionally, it ensures you stay responsible for tax obligations to the government and to your employees.
Stellar Ledger’s prides itself in maintaining the utmost standard of professionalism, reliability & accuracy. Let us know how we can help.
Ready to take your business to the next level? We are here to help.
Transparent & Accurate Reporting
Business transactions include but are not limited to purchases, receipts, sales and payments. The role of the bookkeeper also tracks company expenses assuring that every cost has been entered and recorded correctly into accounting software so that the business is ready for tax time. Recorded transactions are maintained in the company’s general ledger.
Stellar Ledger’s service offerings include Virtual Bookkeeping which is the process of recording daily financial transactions for the business in a Cloud based accounting software using either the cash or accrual based method of accounting.
Partnering with us to perform monthly bank reconciliations allows you to do the following:
Identify unauthorized transactions such as fraudulent or forged checks presented to your bank, or unauthorized debit card transactions
Detect and prevent embezzlement of funds from within your company. Rely on our years of experience with Fortune 500 company reporting.
Identify Bank Errors such as excess or unjustified bank charges and ensures transactions are posted correctly by your bank.
Identify lost checks, deposits and unauthorized wire transactions. We search for all transactions with no stone ‘unturned’.
Regular bank reconciliations can help management postpone payments that would result in company overdrafts, bounced checks and insufficient-fund fees and interest.
Measure and track business performance. Reconciled accounts ensure accurate financial statement reporting and analysis.
Manage cash more efficiently. Timely reconciled accounts keep the business owner aware of potential income issues or shortfalls
Customer payments that are beyond the structured aging schedule; will have management alerted for collection efforts.
Why do I need bank reconcilliations?
Bookkeeping also entails maintaining and balancing subsidiaries, general ledgers, and historical accounts. Monthly bank reconciliations for your business bank accounts and credit card accounts will be performed as well. Accounts payable, sales and accounts receivable, payroll, expenses will be recorded accurately.
Reconciling your business checking account each month allows SL to keep your bank account balance accurate, financial reporting up to date, and allows seamless tax reporting. Bank reconciliations are a critical part of maintaining accurate financial records for the smooth operation of your company.