Monthly Bookkeeping and Financial Reporting

Navya chandra

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About this service

Summary

I provide accurate and timely monthly bookkeeping services, including transaction categorization, bank reconciliation, and financial reporting.

My unique edge lies in delivering detailed, easy-to-understand financial insights, helping business owners make informed decisions and stay tax-compliant.

Process

1. Onboarding & Account Setup (Week 1)

Gather relevant financial documents: bank statements, previous financial reports, etc.

Review and set up QuickBooks or integrate with an existing system.

Define your chart of accounts and customize reports as needed.

2. Ongoing Transaction Recording (Weekly/Monthly)

Record and categorize daily transactions (sales, purchases, expenses, etc.).

Maintain up-to-date financial records for accurate tracking.

3. Bank & Credit Card Reconciliation (End of Month)

Reconcile bank and credit card statements with financial records to ensure accuracy.

Identify and resolve any discrepancies.

4. Monthly Financial Reporting (End of Month)

Generate and deliver key financial reports: Profit & Loss, Balance Sheet, and Cash Flow Statements.

Provide insights and recommendations based on the reports to help you make informed decisions.

5. Review & Client Consultation (Monthly/Quarterly)

Schedule monthly or quarterly consultations to review financial reports and discuss business performance.

Offer advice on financial strategy, tax planning, and growth opportunities.

FAQs

1. How often do you update my books?
I update your books either weekly or monthly, depending on your preference and transaction volume. You will have access to accurate and up-to-date financial records at all times.
2. What financial reports will I receive each month?
You will receive a Profit & Loss Statement, Balance Sheet, and Cash Flow Statement at the end of each month, along with any customized reports you may require.
3. Do you reconcile bank and credit card accounts?
Yes, I reconcile all your bank and credit card statements monthly to ensure your financial records are accurate and up-to-date.
4. What if I don’t use QuickBooks—can you still help?
Yes, while I specialize in QuickBooks, I can work with other accounting software or Excel-based systems if necessary.
5. Will I be able to ask questions about my financial reports?
Yes, I provide monthly or quarterly consultations to discuss your financial reports, answer any questions, and offer guidance on improving your business’s financial health.
6. Can you help with tax preparation?
While I focus on bookkeeping, I ensure your financial records are well-organized and tax-ready. I can also collaborate with your CPA or tax professional to make the tax filing process smoother.

What's included

Monthly Transaction Categorization & Data Entry
I will record all business transactions, including sales, expenses, payroll, and other financial activities, ensuring they are categorized correctly according to your chart of accounts.
Bank & Credit Card Reconciliation
Each month, I will reconcile your bank and credit card statements, ensuring that your financial records are accurate, complete, and match your bank statements.
Monthly Financial Statements
I will generate key financial statements, including your Profit & Loss Statement, Balance Sheet, and Cash Flow Statement, giving you a clear view of your business's financial health at the end of each month.

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