Lulu Accounting and Financial Services LLC understands problems faced by small and newly established businesses. Given that Luzette was once a small business owner. ​ We understand that your resources are limited and you do not have the money to emply a full accounting team. We are able to provide you the following services at an affordable price. ​ ​ Each month or quarter we’ll do the following things for you… Reconcile your bank account Bank reconciliation helps a business identify what transactions happened during the month and what transactions are recurring and this can help a business plan for future expenses and cost. ​ It also helps Business quickly identify fraudulent or unauthorized charges either from outside parties or from within the organisation. So when a bank reconciliation is done in a timely manner every month it becomes very easy to discover this fraudulent charges and follow up on them before its too late. ​ Also a bank reconciliation helps businesses properly plan for the future. When Accountants do bank reconciliations, they are able to identify pending expenses such as deposited Checks written by the company which will usually need to be subtracted from the Bank Balance on the Bank statement to arrive at the true Book Balance. Also By adding in Deposits still in transit or uncleared checks the business owner is able to determine what the real cash flow balance of the business is and make accurate decision. ​ Generate an income statement An income statement is periodic statement generated by Business on a month to month basis and it outlines the business Revenues and Expenses. When Expenses are deducted from revenue we come up with the companies net income which is the amount of money the company has that is not tied to any obligations. It is important to know what your income is because this will help you leverage new opportunities that come up. Which could include investing in new product lines,expanding operations or opening a new location,hiring new personnel,investing in new machinery. On the Flip side if you are making more loses and income statement will help you analyze problem areas for example which departments are eating more cost and you can find ways to bring down cost by reallocating resources or looking for vendors with competitive and better prices. It may be time to move to different product line. Excess cash can also be used to invest in more R$D,Advertising or paying shareholders the expected returns on their investments. ​ ​ Generate a balance sheet Balancesheets give you snapshot of your business financial position at any point in time. Balancesheets list the companys assets and its liabilities side by side and tell us what the company is worth at any given point in time Balancesheet items are carried over year after year while Income statements are specific to the particular period in question.Because balancesheets carry balances over perios of time the are good tools for analysing the finantial position of the company over years using financial ratios and trend analysis. Financial ratios are very vital in determing the overall liquity,stability and growth of your company. To learn more about financial ratios please ask ask more questions in your initial consultation. ​ Clean up your general ledger ​ The general ledger is the core of any business and this is where all the information or data entered is booked. If imformation is entered into the wrong accounts the general ledger balances are going to be wrong and hence your reports will be wrong. By reviewing your general ledger we can help uncover discrepancies such as Misallocated revenue to the wrong department, Giving you the right data from where to make decisons is very important. Prepare Cash Flow Statements Cashflow statements are very important for any business. They are a great short term forecasting tool facilitates the day to day running of the business. Some of the benefits of cashflow statement include being able to put expected cash receipts against disbursement that we expect will happen in the period and determining if current revenue are sufficient to cover cost.Cashflow statements can be done for weeks or months at a time. Using cashflow statement the company can make quick short term decisions like whether it needs to borrow cash to cover upcoming obligations or How much cash reserves it will have to cover future expenses ​ ​ ​ Provide unlimited consultations With a yearly subscription we provide unlimited support and are ready to provide financial statements on short demand for business needs such as trying to obtain new loans and business valuation by investors,banks,and creditors