LIS Bookkeeping Services

Most business owners love what they do. Rather it’s owning a restaurant, gym, or catering business – there’s something special about waking up every day and seeing what you built thrive. But how do you know if your business is truly thriving or just surviving? Let LIS handle your day-to-day bookkeeping needs including entering transactions, setting up vendors/customers, paying the bills, etc. so you can have a clear picture of your business’ finances. Your CPA appreciates a clean set of books for them to file your taxes quickly and efficiently. LIS will partner with your CPA to make sure any entries needed are correctly entered, and that your financials are accurate.

There are so many ways things could go wrong if every business owner handled their own bookkeeping. Don’t get caught up in the mess, hire LIS.

Services Offered

Ongoing Monthly Bookkeeping Services which include:

General Ledger Maintenance
Monthly Bank and Credit Card Statement Reconciliation
Monthly Income Statement
Monthly Balance Sheet
Other services as needed and/or requested

Complete Financial Books Cleanup:

If you’ve been in business for a while but haven’t touched your books, LIS is for you. A clean-up consists of correcting your Chart of Accounts (if necessary), entering transactions, editing the categorization of transactions, reconciling your bank/credit card statements, and other journal entries as needed for a clean set of books. This will give you a more complete look at your business’s finances and will help to provide accurate Income Statement and Balance Sheets. We will generate one-time financial statements based on the updated data.

File 1099’s

This service comes is great for those businesses that utilize freelance contractors throughout the year. LIS will file the 1099’s required via online site like Gusto or Tax1099. Please note, we will not collect W-9s from the contractors, you must have all necessary info on hand prior to LIS filing the 1099.

Payroll

Have employees that you are paying? Not freelance contractors but actual W-2 employees on your payroll? LIS can handle your payroll, post the payroll entry into your accounting system, and make your life a whole lot easier.

General Ledger Maintenance

Maintaining the general ledger is essential to having correct financial records. Every transaction your business has is recorded and run through the general ledger. Imagine having the same high dollar transaction hitting your accounting books multiple times. This leads to understating/overstating your finances. Cleaning this up and maintaining it helps to provide accurate financial statements, which are included in the monthly package.

Bank/Credit Card Reconciliation

Every month your business has many transactions from sales, purchases, credits, etc. This service includes me downloading your bank and credit card statements and making sure that each transaction that has hit your bank/credit card accounts is correctly added to your accounting system. Reconciling these statements helps to make sure your accounting system and your actual bank account are always in line and matching. It helps to avoid missing information such as checks that haven’t been deposited, purchases that haven’t actually been posted to your bank/credit card, or mistakes such as double charges for a purchase.

Monthly Income Statement

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Your income statement provides a clear picture of all revenues and expenses your business has. A monthly statement provide you with the knowledge of exactly how your business is doing. Are you overspending on certain products? Have you purchased twice as much inventory this month and how much did that cost you? Having a monthly income statement will help you to make knowledgeable and sound business decisions.

Monthly Balance Sheet

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Much like your income statement, the balance sheet provides you with exactly how well your business is doing as a whole at a certain point in time. The balance sheet will determine if you are over utilizing debt to run your business or how much of your assets are worth. It also shows you how much you, as the owner, have contributed into the business.