Accounting & Bookkeeping
Bookkeeping – Recording of financial transactions. These transactions include sales, purchases, bill payments, and other income. This function is vital to maintaining accurate financial records for your company/organization. Head Start Biz Solutions has an app that will enter all of your financial information into QuickBooks via your mobile device.
Head Start Biz Solutions will also prepare client invoices and/or church annual giving statements for members.
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Cash Disbursements – The writing of a check to pay for an item previously obligated to be paid, such as loan payment, salary payment or accounts receivable payments. Head Start Biz Solutions will pay all of your bills and follow up with vendors on payment arrangements/inquiries.
Time Tracking – Love your job. Like your timesheets. Whether it’s from the web, your smartphone or another application, it’s never been so easy to track time. With a simple, intuitive interface, getting you and your team on board is fast and easy. No more weekly’s. No more not knowing what you were doing or should be doing. No more I should have done this or that.
Budgeting & Projections – A budget is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. The purpose of budgeting is to provide a forecast of revenues and expenditures, that is, construct a model of how our business might perform financially if certain strategies, events and plans are carried out.
Head Start Biz Solutions will list all projected expenses and income to plan for saving, borrowing and future spending. This process also includes allocating funds and analyzing figures to make suggestions. This is normally discussed in the quarterly meetings and quarterly projections.
Balance Sheet – The accounting balance sheet is one of the major financial statements used by accountants and business owners. (The other major financial statements are the income statement, statement of cash flows, and statement of stockholders’ equity) The balance sheet is also referred to as the statement of financial position.
The balance sheet presents a company’s financial position at the end of a specified date. Some describe the balance sheet as a “snapshot” of the company’s financial position at a point (a moment or an instant) in time. For example, the amounts reported on a balance sheet dated December 31, 2012 reflect that instant when all the transactions through December 31 have been recorded.
The accounting balance sheet has three major components, elements, or major categories:
Assets – Liabilities – Owner’s (Stockholders’) Equity
Expense Tracking – Track your expenses from your mobile device. If this is your first time tracking your expenses, if you’re getting back to it because your situation has changed, or if you’ve got a lot of bills you’re trying to manage, we’re happy to help you get started. Every day our counselors help every one of their clients with their expenses and budget. We’re experts at it, so contact us for a free appointment and we’ll share our best help with you too!
Financial Statements – End of the year tax prep power. Records that outline the financial activities of a business, an individual or any other entity. Financial statements are meant to present the financial information of the entity in question as clearly and concisely as possible for both the entity and for readers. Financial statements for businesses usually include: income statements, balance sheet, statements of retained earnings and cash flows, as well as other possible statements.
It is a standard practice for businesses to present financial statements that adhere to generally accepted accounting principles (GAAP), to maintain continuity of information and presentation across international borders. As well, financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing or investing purposes. Financial statements are integral to ensuring accurate and honest accounting for businesses and individuals alike.
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