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Small Business Accounting

Focus On What Matters 
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'll do the following things for you:

  • Reconcile your bank account
  • Generate an income statement
  • Generate a balance sheet
  • Clean up your general ledger
  • 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

Trust But Verify 
Allow us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to identify lost checks, lost deposits and unauthorized wire transactions. 

We also detect and prevent excess/unjustified bank charges and ensure that all transactions are posted correctly by your bank. Reconciliation will also assist in detecting and preventing embezzlement of funds from within your company.   

Do you know how your business is doing? You can't really know unless all accounts are reconciled and properly verified on your financial statement. Our services help you manage your cash more effectively. Proper management of funds not only saves money, it makes money for you. 

Through timely reconciling you can promptly object with your bank regarding any unauthorized, fraudulent or forged checks presented your account, relieving your business of responsibility for the shortfall thus transfering all risk to the bank. This reason alone should be enough to reconcile your business accounts! 

Let us help you protect your business and allow you to sleep more peacefully at night knowing your financial accounts are reconciled, in balance, and properly verified. 

Financial Statements

Income Statement 

An income statement, otherwise known as a profit and loss statement, basically 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. It will also help determine what areas of your business are over-budget or under-budget. You will identify specific items that are causing unexpected expenditures like phone, fax, mail, or supply expenses. Through your income statement you can track dramatic increases in product returns or cost of goods sold as a percentage of sales. Additionally, an income statement will help you determine real tax liability.  

Balance Sheet 
A balance sheet will give you a snapshot of your business' financial condition at a specific moment in time. It helps you quickly get a handle on the financial strength and capabilities of your business through helkping 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. 

Balance sheets also help determine if your business can handle the normal financial ebbs and flows of revenues and expenses. You can also evaluate your need to bolster cash reserves or project inevitable cash shortage. 

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. A properly constructed balance sheet will determine if your business is in a position to expand.

General Ledger

The Foundation Of Your Company
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'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Specific Services


Below are specific services you can elect when nesting your bookkeeping needs with GWI:

  • Set up an accounting system in Quickbooks® or Quickbooks Online (if needed I can help you decide which is best for you).
  • Catch-up transaction entry from previous months using bank statements, receipts, and whatever information you have on hand.
  • Enter transactions (individual expenditures, sales receipts, etc.) on a monthly basis.
    • You do not need to provide workspace; your documents can be scanned or copied for data entry at my office. I offer one no-charge trip to your office each month to pick up documents.
    • Alternatively, I can work with someone you already trust to train them to enter transactions 
  • Develop and/or manage a budget.
  • Manage payroll.
  • Invoice customers.
  • Prepare checks and pay bills through bank portal with appropriate owner approval.
  • Balance checking and credit card accounts.
  • Monitor accounts for “unusual” charges.
  • Provide monthly and yearly financial reports, such as income/expense or profit/loss reports for monitoring revenue, expenses and net profit, and balance sheets for monitoring assets and liabilities.
    • I will walk you through the reports each month if you like, and I’ll provide the information in the way that is easiest for you to visualize. For instance, some people work better with pie charts and graphs.

Contact us now to strengthen your business' financial records so you can focus on your business and not the admin.

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© Greg W. Isley, CPA, PA 2021, 9205 Baileywick Road, Suite 101, Raleigh, NC 27615
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