The income statement summarizes the costs, expenses and revenue acquired over a particular period of time. This period of time will usually be a year or a fiscal quarter. This financial report provides information about the capability of the organization to make profit by minimizing costs and maximizing revenue. The income statement is one of the important statements that are prepared during financial reporting. This report is also called ’profit and loss statement’, statement of profit and loss’ or ’income and expense statement’.
Income Statement by Month
Income statements by month are prepared to provide summarized information for the latest twelve month period. These statements are displayed for every month.
The balance sheet is the most vital financial statement. The balance sheet displays the organization’s net equity, assets and liabilities at a specific date.
Statement of Cash Flow
This statement provides a summary of the organization’s cash flow activities. This includes, the organization’s investing, financing and operating activities. The statement of cash flow also displays the organization’s beginning and ending balances of cash. The statement also highlights the uses and the sources of cash for that particular year.
Bank Reconciliation Report
The bank reconciliation report presents information about the cash balance shown on an organization’s books at a specific date. This report settles this balance with the amount displayed on the bank statement of the organization.
The payroll register displays information in an alphabetical order about all the employees who were paid during a particular month. Payroll taxes and other deductions with the gross pay are displayed.
Journal Entry and Check Register
The journal entry register displays the checks written during a specific month. The register associates the checks with the general ledger accounts that they have been charged to. The register also displays the dates when the check was written.
Detail General Ledger Report
This report exhibits all the organization’s activities for a particular month.
Business Analysis Report
The business analysis report provides financial information from the income statement, cash flow statement and balance sheet. This information is effectively used to calculate key performance metrics. This report can also help you analyze the financial performance of your organization.
Financial Analysis Report
This report evaluates the balance sheet of the latest month with the balance sheet of the previous month. The report displays the changes in the equity, assets and liabilities.
Operations Analysis Report
This report presents the expenses, costs and sales by category. For each type of sales, the gross profit and percent of gross profit is displayed. This same is done for the expenses. The report displays information pertaining to a particular month and compares information between current and previous years.
We can also provide you with management reporting services, sales reports, sales tax reports and purchase reports.
Value-added Bookkeeping Services – Specialized Reporting
Apart from all the standard bookkeeping services, we also offer custom reports that enable customers to better analyze their revenue and expenses. A list of additional services provided is as follows: We offer customized reports that help you analyze your revenue and expenses.
Customer Reports – determine your most profitable and least profitable clients
Employee Reports – analyze employee expenditures with year-end reports
Break-up of Expenses – break down your expenses by category. Whether it’s by product line, office or region, this report gives you an efficient analysis of your expenses
Event Analysis – determine your expenditure for individual events