facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause

Support for Your Business

Many small businesses are created by talented people with great ideas. The ones that succeed are the ones who realize they need assistance with the accounting part. Managing your book of business pulls you away from running the actual business, and it usually isn’t what you’re most skilled at. Allow us to expertly manage your books, so you can focus on why you started your business in the first place. 

Each period we'll: 

Reconcile your bank account

It’s smart business to reconcile your checking account monthly, to keep your bank account, accounting, and taxes up-to-date. 

Having HCM handle this task allows you to: 

  • Identify lost checks, lost deposits, and unauthorized wire transactions. 
  • Detect and prevent excess/unjustified bank charges and ensure transactions are posted correctly by your bank. 
  • Thwart embezzlement from within your company. 
  • Provide financial consulting to help you manage your cash and accounts more effectively.  

Schedule a Tax Planning Call

Generate an income statement

An income statement, otherwise known as a profit and loss statement, adds an itemized list of all your revenues and subtracts an itemized list of all your expenses in order to calculate profit or loss for the period. 

An income statement allows you to: 

  • Track revenues and expenses so that you can determine the operating performance of your business. 
  • Determine what areas of your business are over- or under-budget. 
  • Identify specific items that are causing unexpected expenditures, like communications or supply expenses. 
  • Track dramatic increases in product returns or cost of goods sold (COGS) as a percentage of sales. 
  • Determine your income tax liability. 

Schedule a Tax Planning Call

Create a balance sheet

A balance sheet gives you a snapshot of your business's financial condition at a specific moment in time. 

A balance sheet helps you: 

  • Quickly get a handle on the financial strength and capabilities of your business. 
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively. 
  • Determine if your business is in a position to expand. 
  • Find out if your business can easily handle the normal financial ebbs and flows of revenues and expenses. 
  • Discover if you need to take immediate steps to bolster cash reserves. 
  • Ascertain if your business has been slowing down payables to forestall an inevitable cash shortage. 

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you. 

Schedule a Tax Planning Call

Clean up your general ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem impacts all of your books. 

With a monthly review, we can hunt down any discrepancies such as double billings or unrecorded payments. Then we'll fix these so your books are always accurate. 

Schedule a Tax Planning Call

Quickbooks Services

QuickBooks is an extremely useful tool for your business. However, it can be a bit complicated as you get started, especially if you switch from manual accounting operations to QuickBooks in the middle of the year. Which accounting method will you use? What chart of accounts will you need? How do you handle beginning balances? 

Our experts can easily answer these questions and complete the initial setup and installation in a timely manner. In addition, your accounting employees will receive training to understand it better. 

Our QuickBooks service includes:

  • Evaluating your software and accounting needs.
  • Recommending software and hardware requirements.
  • Installing software, design and set up chart of accounts and entire accounting package including payroll, accounts receivable, inventory, accounts payable, etc.
  • Determining your QuickBooks starting date and then:
    • Loading your chart of accounts and balances as of that date.
    • Preparing a list of the items that you sell to your customers, including services, inventory parts, non-inventory parts, other charges, and sales taxes.
    • Entering your outstanding accounts receivable and accounts payable details as of start date.
    • Entering your ending bank balances and outstanding checks and deposits in transit as of start date.
    • Printing a trial balance as of your starting date and comparing it to your trial balance from your old system.
    • Entering your transactions since your starting date.
  • Training you or your staff to properly operate QuickBooks specifically for your business.

Schedule a Tax Planning Call

These tasks form the solid foundation of your small business accounting system. Beyond this, HCM can also support your payroll, tax planning, or tax preparation needs. 

Interested in learning and implementing QuickBooks to run your small business more efficiently? We can help with that, too.  

Talk to an Advisor