Business Accounting Services in Surprise, Arizona

Accounting

Business Tax Services

Here at Monheit Frisch Group, we have the experience and reputation that your business needs when it comes to the financial well-being of your company. We look beyond the numbers to provide each client with personalized attention and tailored management assistance.

Our professionals are committed to understanding your business top to bottom. Our certified public accounting team is trained to search for overlooked trends and identify opportunities specific to your operations, ultimately increasing your organization’s profitability and effectiveness.

Our talented and experienced team is always available for management consultation and is conscious of your need to manage costs.

Our professionals can assist with the following services:

  • Accounting system set-up for new businesses
  • Bookkeeping (monthly/quarterly/annually)
  • Employee benefits and retirement plan audits
  • Financial forecasts and projections
  • Financial statement audits
  • Financial statement compilations
  • Financial statement reviews
  • Internal audit outsourcing
  • Internal control/management observations and recommendations
  • Personal financial statements

As a small-business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits. Each month or quarter, we will reconcile your bank account, generate an income statement, generate a balance sheet, clean up your general ledger and provide unlimited consultations. These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation or any of our other services.

Bank Reconciliation

Reconciling your business checking account each month allows us to keep your bank account, accounting and taxes up-to-date. It also helps to

  • Identify lost checks, lost deposits and unauthorized wire transactions
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank
  • Detect and prevent embezzlement of funds from within your company
  • Know without a doubt how your business is doing financially
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you
  • Protect your company and assets. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason alone should be enough to reconcile transactions. Crime exists – don’t let it throw you off track.

Sleep better and more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

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 to come up with a 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 budget or under budget
  • Identify specific items that are causing unexpected expenditures, like phone, fax, mail or supply expenses
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales
  • Determine your income tax liability

Balance Sheet

A balance sheet gives you a snapshot of your business' 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, can easily handle the normal financial ebbs and flows of revenues and expenses or has been slowing down payables to forestall an inevitable cash shortage
  • Determine if you need to take immediate steps to bolster cash reserves

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.

Maintaining a Clean 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 with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we will fix the discrepancies so your books are always accurate and kept in tiptop shape.

Call us and let us help you generate an accurate and detailed income statement.

We have two locations for your convenience:

 

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