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FINANCIAL REPORTING

Capturing the activity passing through banks and credit cards can be an onerous task that is prone to error when done manually. But there are many options to bring transactions into QuickBooks without keying in the data. Silicon Valley Accounting Solutions is well-versed in using direct bank feeds, export/import functions, and uploads from third party applications to automate the process. We are also able to establish procedures to insure the integrity of data brought in and help the client to avoid the common pitfalls of data sharing. When done right, transactional automation saves time in both the entry and reconciliation of bank activity.

A standard financial package will include an Income Statement, Balance Sheet, and Statement of Cash Flow. These provide the results of the operation for a specified period, the residual balances that remain, and a breakdown of the sources and uses of cash.

Clients who track operating results by lines of business, use a P&L by Class to aid them to see the relative contribution of each business segment to the company’s results overall. They can also run reports to monitor profitability by Customer or Project when these references are tagged in the data entry process.

Comparison to Budget/Forecast can be critical to a client who has established projections and will update their models based on actual results. Some management teams or Boards of Directors prefer to see key elements in Waterfall Charts to be able to see how the Budget and Forecast change over time.

We encourage clients with clear-cut goals to have us create a Dashboard for them to be able to keep their eye on the driving factors of their success.

Silicon Valley Accounting Solutions provides bookkeeping and accounting services to businesses in San Jose, California and the surrounding Bay Area.