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Accounting and Bookkeeping

Unless your business is accounting or bookkeeping, keeping
financial records is probably not what you do best. Most likely,
you'd rather spend your time selling your product or service.
However, if you are going to run a successful business,
accurate and timely financial information is a must. Here are
some of the reasons why you need a good financial
record-keeping system:

Monitoring the success or failure of your business. It's hard to know how your business is doing without a clear financial picture.

Providing the information you need to make decisions.
Without accurate records and financial information, it may be hard for you to know the financial impact of a given course of action.

Obtaining bank financing. A banker will usually want to see financial statements: a balance sheet, income statement, and cash flow budget for the most current and prior years, as well as your projected statements showing the impact of the requested loan. A banker may even want to see some of your bookkeeping procedures and documents to verify whether you run your business in a sound, professional manner.

Obtaining other sources of capital. If you need capital and are thinking of taking in an outside investor, you will need to produce a lot of financial information.

Budgeting. A budget will help keep your business on track by
forecasting your cash needs and helping you control expenditures.

Preparing your income tax return. Poor records
may result in your underpaying or overpaying your taxes
and/or filing late (and paying penalties).

Access Financial Management, LLC can provide:

  • Income Statements (Also known as Profit/Loss Statements)
  • Balance Sheets
  • Statement of Cash Flows
  • Net Worth Statement

We can prepare these statements on a weekly, monthly or quarterly basis based upon your needs.

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