Accounts Payable

Accounts payable are the unpaid bills of the business; the money you owe to your suppliers and other creditors.  The sum of the amounts you owe to your suppliers.

Our team will produce Accounts payable ledgers that will help you control your expenditures and payables.  Accurate payable ledgers, will make it easy for you to double check the bills you get from your suppliers.

Accounts Receivable

We create and maintain an accounts receivable ledger account for each or your customers.  We generate invoices and statements for your customers who owe you money.   The accounts receivable ledger is a record of each customer’s charges and payments.

Budgeting

A budget is an indispensable tool for converting plans into a successful reality.   The budget helps focus your thoughts on the direction in which you are headed.  It indicates how much cash you have to spend, your expenses and how much you need to earn.  By planning on paper first, you minimize the risks associated with your business endeavour.

A good budget can build morale by helping you organize, communicate and motivate employees to do their part in achieving the company’s financial goals.

Payroll Services

Money Matters, LLC provides small businesses the benefits of a full-service, web-based outsourced payroll system that carefully and confidentially handles every aspect of payroll for small businesses.  From data entry to direct deposit to payroll tax filing, we:

• track your payroll schedule
• process all information
• produce pay checks
• make direct deposits
• create & file all federal / state tax returns
• provide a complete payroll each pay period.

Bookkeeping / Write Up

Bookkeeping refers to the daily operation of an accounting system, recording routine transactions within the appropriate accounts.  An accounting system defines the process of identifying, measuring, recording and communicating financial information about the business.  So, in a sense, the bookkeeping function is a subset of the accounting system.

A bookkeeper compiles the information that goes into the system. An accountant takes the data and analyzes it in ways that give you useful information about your business.

• Compare actual results to budget.
• Locate & correct inconsistencies in check register
• Review the bank reconciliation
• Scrutinize cancelled checks
• Review/Record statements from vendors
• Review Payroll register Record entries to your accounting system
• Review your Accounts Receivable & aging, and collect bills

Records Management

Your basic recordkeeping system should be easy to use, understandable, reliable, accurate, and timely. The basics of what such a system should include.  You will want some type of business journal to record transactions (receipts, disbursements, sales, purchases) and a well-organized filing system.

Additionally, you should be generating monthly reports on cash flow, accounts receivables, accounts payable, payroll, an overall income statement (balances income against expenses), and a balance sheet (which gives an overall picture of the current worth of the business).

Regulatory Filings & Certifications

The owners of a new business are subject to a variety of governmental reporting and filing requirements and issues that have little to do with the “business” of the business.  These other issues include insurance, payroll (do it yourself or hire it out), telecommunication and automation issues, etc.

Our team will help you understand the “processes” involved and handle the time consuming task of getting it done cost effectively thereby preserving your CAPITAL for the other needs of your business and take advantage of programs and incentives available to your business.

• General Liability Insurance
• Workers’ Compensation Insurance
• Minority or Women owned Business Certification
• Underutilized or Disadvantaged Business Certification (SBA)

Bank Reconciliation

Prepare a bank reconciliation when you receive your bank statement every month . This is a very important part of your cash control procedures. It verifies the amount of cash you have in your checking account.

The cash balance in your books will never agree with the balance shown on the bank statement because of the delay in checks and deposits clearing the bank, automatic bank charges and credits you haven’t recorded, and errors you may have made in your books.  After preparing the bank reconciliation, you can be comfortable that the account balance shown on your books is up-to-date.

Another important reason to do a bank reconciliation is that it may uncover irregularities such as employee theft of funds.