For almost 30 years our small business CPA has provided monthly financial statement preparation for businesses in Cary. This is important, since monthly financial statements are used for preparing year end tax returns and can help you make informed financial business decisions.
Monthly Financial Statement Preparation
Proper record-keeping can put your business in a better position for success and help with future planning. We use your financial information to put together various types of statements that reflect the financial health of your business.
The income statement, also known as the Profit and Loss statement, shows a business' income and expenses. It helps to determine whether a business was profitable or not during a set period, and helps identify how well the company is performing.
The balance sheet is a book value summary of a business' assets, liabilities, and equity.
Why You Need Up-to-Date Financial Statements
Financial statements are crucial when you want to evaluate the health of your business. When you are equipped with accurate financial statements, you'll be in an optimal place to understand various factors like:
- Level of expenses;
- Status of income and revenue;
- Yearly and monthly profit and loss;
- Whether your business is financially prepared to expand;
- If it’s time to hire staff;
- How you can reduce liabilities or increase revenue;
- Areas of your business that are highly profitable as well as those that are costing more money.
- Over time, you can use these reports to create budgets, forecast periods of high revenue or downturns, and create a path toward growth.
Contact Us for Small Business Financial Statement Preparation in Cary
Feel confident making knowledgeable financial decisions with monthly financial statement preparation and bookkeeping for your business in Cary.
Reach out to us today by calling 919-420-0092 or completing our contact form below!