D.G. Bookkeeping Solutions

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Record Transactions in QuickBooks (Keeping your Books)

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 QuickBooks is the ideal business accounting software for small to mid-sized business owners. 

QuickBooks Business set up

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 Although QuickBooks is designed for the layman to understand, the initial setup and installation can be tricky. Save hours of frustration by allowing me to setup QuickBooks for you correctly. 

Quickbooks Training

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 Once QuickBooks is setup and working properly, I can train you or your employees to properly operate QuickBooks specifically for your business 

Reconcile your bank account

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Reconciling your business checking account each month allows me to keep your bank account, accounting, and taxes up-to-date.

Having me reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized      wire transactions.
  • Detect and prevent excess/unjustified bank charges and      ensure transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within      your company.
  • Know how your business is doing? You can't really know      unless all accounts are reconciled and properly accounted for on your      financial statement.
  • Manage your cash more effectively. Proper management of      funds not only saves money, it makes money for you.
  • Protect yourself. 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 to reconcile alone should be enough. Crime exists.


Income Statement

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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.
     
  • 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

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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
  • Determine if your business can easily handle the normal      financial ebbs and flows of revenues and expenses
  • Determine if you need to take immediate steps to      bolster cash reserves
  • Determine if your business has been slowing down      payables to forestall an 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.