We provide a multitude of financial services for business owners.
The history of bookkeeping and accounting stems from ancient civilizations. There are references of counting money and auditing by the ancient Egyptians and Baylonians. Luca Pacioli introduced double entry bookkeeping and accounting in Italy in the 1490s.
Bookkeeping is an accounting process that involves recording all details from source documents into journals. Each journal keeps a record of recorded transactions by date. A general journal is considered the initial book of entry. The information from these bookkeeping journals then get transferred to the general ledger by an accounting process referred to as “posting”.
General journals and general ledgers are used in double entry accounting. Double entry bookkeeping is governed by this accounting equation: assets = liabilities + equity. Reconciliation is another accounting process that involves checking two sets of records which are usually the balances of two accounts and making sure they match. Balances of accounts are reconciled at the end of a particular accounting period.
Here is our bookkeeping process summarized:
- Preparation of source documents for all financial transactions
- Determine financial effects from source documents
- Make journal entries and appropriate account changes
- Perform end of accounting period procedures to get ready for financial reporting
- Compile the adjusted trial balance for our CPAs to review
- Close the books for that accounting period and get ready to start the bookkeeping process again for next reporting period
Our accounting firm is very well versed in a number of financial systems including Quickbooks. We have Quickbooks Certified bookkeepers ready to help give you a clear picture of your business’s financial health. Our bookkeepers will generate financial reports that are then reviewed by aby of one of our CPAs. Our bookkeepers at our CPA firm will be able to help you with your:
ability to make informed financial decisions for the future
ability to spot fraud or embezzlement