Bookkeeping

Bookkeeping provides financial information throughout the year so you can test the success of your business strategies and make course corrections to ensure that you reach your year-end profit goals.

Bookkeeping is the process of keeping records in relation to your business. These records should be accurate and will help you keep up with tax payments and other calculations necessary to keep your business running smoothly. Unfortunately, it can be a complicated process and take a long time to do well – time that many small businesses can’t spare.

Paz Tax can help you with your bookkeeping needs and allow you to focus directly on running your business. Our bookkeeping services are tailored to match your needs, so whether you need full-service monthly bookkeeping solutions or a quarterly general ledger review, we will be able to help you. You can also add in extra services such as tax preparation, tax planning, or payroll if you need to.

When you work with us, we are always available to spend time helping you fully understand how to interpret and utilize the financial information we provide. Please feel free to call us whenever you need to find out more.

What we do

Bank Reconciliations Income Statement Balance Sheet General Ledger Customized Reports

Bank Reconciliations

We provide Bank Reconciliation facilities which allow us to keep your bank account, accounting, and taxes up to date. We can identify lost checks or unauthorized transactions, detect and prevent excess or unjustified bank charges, and help guard against embezzlement of funds from within your company.

You’ll feel a lot better knowing exactly how your business is doing and be able to manage your cash more effectively.

Income Statement

We can create an Income Statement (also known as a profit and loss statement) to show an itemized list of all your revenues and expenses for a particular period, which calculates the profit or loss you have made.

You may have made a lot of sales, but you may also have had a lot of expenses. Creating this statement shows how your business is performing as well as helping you manage your budgets. Perhaps individual items are costing more than expected (it might be the phone or mail expenses) and you’ll need to find a way to optimize.

Without this statement, you’d have no idea where to start. Further, this statement can help determine your income tax liability.

Balance Sheet

Next, we can create a Balance Sheet which gives a snapshot of how your business is performing at a particular moment in time. You’ll be able to spot and analyze trends and take action to prevent any decline in performance. You’ll even be able to see if your business is ready to expand.

Balance sheets and income statements provide the basic information needed by potential lenders (banks, investors, vendors, etc) who may be considering granting your business credit.

General Ledger

The core of your company’s financial records is the General Ledger which lists every transaction the business is involved in. Any problem with the ledger may be replicated in other documents, and so regularly checking the ledger for accuracy is important.

Customized Reports

We will customize management reports to suit your unique business. Whether you choose to receive monthly or quarterly reports, these unique reports will have the data that matters the most to you.

Bookkeeping is a necessary function when it comes to any business.

Without the books, you have no numbers and without the numbers, you have no point of reference; you can’t even complete basic tasks such as submitting tax returns.

Bookkeeping Plans