Bookkeeping & Accounting Services
Managing the accounting system
- Getting your accounting system set up and maintained
- Customize your chart of accounts for your business and industry
Process invoices, receipts, payments, and other financial transactions
Prepare financial statements
- IBTS can provide regular financial reports, producing weekly or monthly reports that provide helpful information on your business performance
- IBTS can provide important standard financial reports like profit and loss and balance sheet
- IBTS can provide budgets and cash-flow forecasts that will give you all the information you need to improve the financial performance of your business
Reconcile accounts and prepare reconciliation reports
Manage any loans or debt repayments
- If your business has any business loans or debt repayments, IBTS can manage and report on these.
IBTS bookkeeping process
- The IBTS bookkeeping process includes identifying and analyzing transactions, recording transactions entering vendor and expense invoices, managing bank feeds, bank reconciliations, and handling accounts receivable and payable.
Other activities include:
- Journal entries
- Unadjusted trial balance
- Adjusting entries
- Closing the books
- Managing the client's payroll system
- Pre-tax preparation for the client's tax accountant
Advisory and Advanced
IBTS provides expert recommendations, options, and strategies to help business owners achieve their financial and operational goals. In addition, IBTS will help develop ideas and provide recommendations for client consideration and decision-making.
Advisory accounting goes above and beyond by guiding business owners by assessing the current or looking to the future. As a result, they can boost their earnings and cash flow, make smarter business decisions, and prevent possible issues with the correct guidance.
Advisory and Advanced services can include:
- Cash flow forecasting
- Tech stack implementation (A tech stack is a collection of digital technologies a company uses to accomplish short-term and long-term objectives. It includes all the computer programs, web applications, and other tools essential to your business operations.)
- Technology training
- Budgeting
- Business planning
- Financing and loan applications
- Operations reviews
- KPIs and metrics
- Pricing analysis
- Tax planning
- Improving workflows