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When you're running a business, you wear many hats that can take you away from your day-to-day tasks, including accounting and bookkeeping. At Burgos CPA Services, LLC, we offer years of experience helping small businesses, independent contractors, freelancers, and more. We are your financial partner and can help with the following:


There will be times when your current bank account balance does not accurately represent the amount of cash that is available to you. This is especially true if you have transactions that are pending or have not settled yet. If these numbers are inaccurate, there is a possibility you could be subjected to overdraft fees.


The best way to avoid this is to work with an Orlando CPA to perform monthly bank reconciliations, which will help you understand your business's cash flow and proper cash position. This process involves matching the balances of your business's accounting records to the corresponding information on your bank statements. Your CPA will look for any discrepancies between the two records and will even recheck if there are any significant differences. 


To ensure the accuracy of your cash records, it is highly recommended to perform a bank reconciliation at least once a month. This will allow you to quickly identify any errors, unusual transactions, and even fraud.


As the first step in the accounting cycle, a journal entry is a record of your business's transactions in the accounting books for your business. These entries are listed as they occur, showing the specific accounts affected by the transaction. When properly documented, a journal entry will contain the following:


  • Date of the transaction

  • Amounts debited and credited

  • Description of the transaction

  • A unique reference number


Journal entries typically include both debit and credit accounts. When you work with Burgos CPA Services, LLC, we make this process easier by using a special journal to record any recurring transactions including sales, cash receipts, purchases, etc. All transactions that do not fall under these categories will be recorded in a general journal. 


When conducting a financial statement analysis, a CPA will analyze your statements and determine what areas to audit. They will also appraise the overall health of your business while identifying any ongoing concerns and problems. 


After the CPA completes the financial statement analysis of your business, they will discuss the identified problem areas and offer possible solutions. This process is crucial for businesses of all sizes because it will help you comply with laws and regulations.


When working with personal and financial information, it's important to ensure that you have the best security in place. This is where cloud storage and cloud computing can help. It allows your business to organize and share financial data with different partners securely while maintaining privacy for all of those involved. Other perks include:


  • Collaborating with clients and partners in real-time

  • 24/7 easy access to your files

  • Backing up and sharing data

  • Meet global data privacy compliance requirements


To ensure the accuracy of your business's year-end reports, year-end adjustments (also known as "closing the books") will have to be made to your business's balance sheet and profit and loss statement. As an important aspect of financial reporting, your CPA will record revenue as it is earned and expenses as they are incurred.  


This process allows for revenue to be matched to expenses while also showing the current and future expected cash flow, giving business owners a summary of their business performance.


With an extensive background working with businesses of all sizes, Burgos CPA Services, LLC offers the experience needed to help you and your business meet your financial goals while staying in compliance with the ever-changing laws. To learn how we can assist with your accounting and bookkeeping needs, click here to schedule a FREE consultation.

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