More time to run your business!

As a small business owner you know that keeping your books in order is important, but you have more important things to do. That is why JRM Financial Associates offers Small Business Accounting in NJ and other states.  Using our services lets you spend more of your time running your business and generating profits!

Each month or quarter we'll do the following things for you...

These critical tasks form the basis of your small business accounting system.   In addition, JRM lets you customize the package of services you receive by adding other services such as payroll, tax planning, and tax preparation.

 
Bank Reconciliation

Our JRM NJ accountants will reconcile your business checking account each month. This will keep your bank account, accounting, and taxes up-to-date.

Taking advantage of our service to reconcile your account each month...

• Identifies any lost checks, lost deposits and unauthorized wire transactions.
   
• Detects and prevents excess/unjustified bank charges and ensures the correct posting of bank transactions.
   
• Detects and prevents the unauthorized use of funds from within your company.
   
• Lets you know how your business is doing by reconciling all accounts and verifying your financial statement.
   
• Insures that your cash is managed effectively which both saves you money and makes money for you. 
   
• Protects you because crime exists.  Timely reconciliation and formal objections to the bank regarding unauthorized, fraudulent or forged checks presented to and paid by your bank , relieves your organization of responsibility for the shortfall and transfers the risk to the bank. This reason to reconcile alone should be enough. 

• Gives you peace of mind.  You will be more comfortable knowing that your bank accounts are reconciled, in balance, and that all escrow funds, accounts, checks and disbursed funds are professionally accounted for.

 
Income Statement

When JRM generates an income statement, otherwise known as a profit and loss statement, our New Jersey accountants will add an itemized list of all your revenues and subtract an itemized list of all your expenses to develop a profit or loss for the period.

An income statement...

• Monitors and reports revenues and expenses allowing you to assess the operating performance of your business.
   
• Highlights which segments of your business are over-budget or under-budget.
   
• Determines whether specific items are causing unexpected expenditures, such as phone, fax, mail, or supply expenses.
   
• Points out any dramatic increases in product returns or in the cost of goods sold as a percentage of sales.
   
• Calculates your income tax liability.

 
Balance Sheet

The balance sheet created by JRM’s NJ accountants, gives you a snapshot of your business financial condition at a specific moment in time.

A balance sheet...

• Quickly gives you a report of the financial strengths and capabilities of your business.
   
• Identifies and analyzes trends, particularly in the area of receivables and payables.  This information may tell you for example, if your receivables cycle is lengthening, and lets you adjust practices such as collecting your receivables more aggressively.
   
• Provides the information you need to determine whether your business is in a position to expand.
   
• Lets you know whether your business is in a position to easily handle the normal financial ebbs and flows of revenues and expenses. 
   
• Alerts you if you need to take immediate steps to increase your cash reserves.
   
• Assesses whether your business has been slowing down payables to guard against cash shortages.

Income statements and balance sheets are the most basic elements in preparing financial reporting for potential lenders such as banks, investors, and vendors who are deciding how much credit to grant you.

General Ledger

The general ledger JRM will maintain is the core of your company's financial records. These records constitute the central legend of your finances. Because every transaction flows through the general ledger, a problem with your general ledger creates problems throughout your financial records.

 
Unlimited Consultations

JMR financial specialists are always available to spend time with you so that you fully understand how to interpret and apply the financial information we provide. Our price includes our helpful consultations, so please feel free to call us whenever you have a question or concern.