DOUBLE D FINANCIAL SERVICES
Financial Records Management Service
An income statement, also known as a profit and loss statement, forces an itemized list of all your revenues and subtracts an itemized list of all your expenses, producing a profit or loss for the period. An income statement allows you to...
- Track revenues and expenses allowing you to determine the operating performance of your business
- See which areas of your business are over/under-budget
- Identify specific items causing unexpected expenditures. It maybe phone, fax, mail, or supply expenses
- Track dramatic increases in product returns or cost of
goods sold as a percentage of sales
- Determine your income tax liability
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. This is necessary to help you...
- Quickly understand your financial strength and capabilities of your business.
- Identify and analyze trends, particularly in the area of receivables and payables.
- You will know if your business can easily manage the normal financial ebb and flow of revenue and expense.
- Better identify the need for immediate steps to bolster cash reserves.
Balance sheets and income statements, are basic elements you need in providing financial reporting to potential lenders; such as banks, investors, and vendors who are considering how much credit you arecurrently worth.
Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records. These records are the core of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept up-to-date.
Serving the Frederick and Montgomery County, Maryland area.