For-Profit or Non-Profit
Small Business Bookkeeping and Accounting Services
One of the most overlooked areas in a business, and yet most vital, is the practice of sound bookkeeping. Having and maintaining sound financial records provides an ability to better manage your revenue and expenses, as well as noticing changes in cash flow or red flags that could lead to a future audit or even financial failure.
INOVA can provide a monthly package for all your bookkeeping and accounting needs. This will include a frequent review of your books and keeping track of your financial records. We work with your tax preparer and payroll provider to make sure they have everything they need to file your annual tax returns, W-2s, 1099's and any required filings.
Let us handle your books so you can focus on growing your business.
Accounts Receivables and Payables
As a business owner, you need to be aware of how unpaid invoices or outstanding payables can affect your cash flow. INOVA can provide the following services:
- Review A/R. Create customer invoices. Mail reminder invoices as needed.
- Review A/P statements and outstanding invoices to be paid.
- Reconcile and payment of sales tax.
- Reconcile all bank and credit card accounts.
- Review inventory.
- Enter all transactions, make necessary journal entries.
Financial Reporting and Year End Processes
We will make sure you have access to all current profit and loss statements, balance sheets, and budgets in real time.
- Provide an initial review of your accounting processes and record keeping
- Create monthly/quarterly/YE P&L and Balance Sheet statements.
- Updating year-end inventory and capital assets in the books.
- Provide budget reports and cash flow analysis.
- Enter loans and the principle and interest on any loan payments.
- Annual review of vendors and request of updated information.
Forecasting & Budgeting
We will help you define objectives and determine the actions that lead to the achievement of your financial goals. Planning provides clarity and creates confidence with which to make sound business decisions.
Develop an Employee Handbook
An Employee Handbook helps to define your company culture, establish policies, procedures and disciplinary action, explain leaves of absence and PTO, review workplace safety and health information, communication processes, employee conduct expectations and more.
It is also important that you understand Employee Compliance Requirements and state specific policies.