Accounting and Bookkeeping Services

Each month, it’s important to reconcile important accounts, including your bank accounts, merchant accounts, credit card accounts, petty cash, and loans. The reconciliation is done by comparing your bank statement balances with those in your accounting system, then accounting for outstanding transactions. Any corrections needed to your books can be made on a timely basis so that your balances remain correct.

You may need help with invoicing, accounts receivable management, and collections. We can assist with preparing and distributing customer invoices, proper recording in the accounting system, payment matching, payment recording, statement preparation, credit memo and refund processing, and collection of past due invoices.

We can generate reports to manage your customer records and accounts receivable, including customer balances and aging reports. If you need help writing off uncollectible accounts or other adjusting journal entries, we can help.

It’s essential to have the best billing system for your business. We can help with billing system selection, customization, implementation, and integration with your accounting system. Plus, we can train your staff on the new system and review and improve your accounts receivable processes to make your business more efficient.

We’re here to help you with bill processing, including submission, document management, approvals, check writing, and payments. We’re experienced with accounts payable management and can make sure you have the best controls set up to give you peace of mind. We can perform some of the more advanced duties, such as three-way matching, automated payments, expense report processing, invoice fetching, vendor management, automated data entry, and more.

Accounts payable is an area where automation has streamlined the process, and we can help you stay up-to-date and efficient with these new processes.

Grimmett & Company will automatically generate an income statement and balance sheet each month for your business. These are vital reports to help you measure the amount of revenue and profit you’ve made for the period.

Furthermore, many reports can be generated from your accounting system to help you hone in on an area so you can make smart business decisions. This includes operational spending, staffing, marketing, capital purchases, and all of the things you need to know to run your business.

Grimmett & Company is here for all business tax-related matters, including business tax preparation, business tax planning, business tax consulting, and business tax IRS issues. Our professionals at Grimmett & Company have decades of experience providing business tax services and strive to cater to each business tax client’s precise and specific needs.

Many new entrepreneurs are surprised to realize that federal taxes are not the only taxes they need to worry about running a business. Depending on the types of products and services you sell, you may need to collect, file, and pay sales tax. It’s almost always better to consult an expert in this area – even before you file your sales tax application with the states.

You may have an industry-specific accounting system. The most important question is whether you have the best accounting software solution for your business.

We can help you with many aspects of your bookkeeping system: training to improve your efficiency, accounting software selection, setup of new systems, improved customization so you can get better information, migration to a new system, and streamlined workflow design.

If your accounting software meets your basic needs but needs additional functionality, we can often solve it with an add-on accounting app. There are now hundreds of add-on applications for your accounting system that can improve many things: inventory, invoicing, time-tracking, bill pay, reporting, and so much more.

Managing a business has a lot to do with managing the risks associated with being in business. With every accounting system, and where money is involved, it’s essential to maintain a good set of controls. These controls start in your accounting system and expand to your staff’s duties. Accounting professionals call this “internal controls,” and it’s a core accounting concept that impacts every business.

We can help you identify risks you may not know you’re taking and tighten up controls to reduce your business risk.

If your bookkeeping is a little, or even a lot, behind, don’t worry! We can have it caught up in an instant. We have many tools to import or scan in older transactions to make the work go fast.