Small Business Services

• Accounts Payable Management / Accounts Receivable Management:

Accounts Payable Management is a task that involves overseeing all financial activities related to your business with regards to creditors – people to whom you owe money. The related transactions are recorded in the sub-ledger of the Accounts Payable during the time of invoice and made available as a liability on the business’s balance sheet. Our company Tax Depot has experts who are well-versed in all Accounts Payable levels with experience managing these operations. Along with this, we will provide updates on a daily basis for all the outstanding bills, balance reports, as well as access to vendors’ sales terms and conditions. Accounts Receivable Management is where all financial activities related to debtors are recorded on the ledger. Upon the creation of invoice, you will be able to see the details of people or entities to that owe you money, that are displayed in detail on the business’s balance sheet. Tax Depot has experts who will take care of accounts receivable management tasks in all AR levels through focus on improving cash flow, reductions of bad debt loss and increase of effectiveness of the Accounts Receivable Management system. Our accounting team will also provide the business an insight into the impact of various management decisions on cash flow.

• Bank / Credit Card Reconciliation

Reconciliation means comparing two different sets of records and making sure that they match in all circumstances. This process is to ensure that there is a balance in opposing accounts (for example, asset vs liability). Some of the elements that need to be reconciled on a regular basis include, but not limited to, assets, liability, revenue, expense ledgers and equity. While internal reconciliation is an important practice, a third party service will ensure that balance is achieved in the overall bookkeeping system. This will also ensure the accuracy of your company’s data and pinpoint any issue concerned before it can have a negative impact on its operation. Tax Depot offers a comprehensive bank and credit card reconciliation service on a monthly basis irrespective of the number of bank accounts or credit cards your business holds. This will protect the business from fraudulent activities. Our company will work round the clock to identify discrepancies and provide the most accurate form of bookkeeping service through account reconciliation.

• Balance Sheet Preparation, P&L Preparation and Review

Balance Sheet Preparation and P&L Statements prepared by our company will help you determine the financial state of your business. These statements are meant to provide complete picture of the effectiveness of your business strategies and management efforts. Our company will review these statements on a regular basis to make sure that they are accurate and fine tuned for improving business performance and production. In addition to these reviews, our experts will also provide insight into checks and balances to ensure reliability and effectiveness of the data. In essence, with Tax Depot, you will be able to get a clear picture of your individual or business assets and liabilities. We are aware of the importance of preparing and reviewing necessary documents and statements for your business. And we are ready to work with you to maximize profitability for your short as well as long term needs. Our experts will identify the right opportunities through little-known but time-tested methods for growing wealth safely and predictably.