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Bookkeeping Services

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Get a complete bookkeeping solution including: bank reconciliations, customer invoicing and collections, bill payment, credit card management and more. 

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  • Bank Reconciliations

    • Daily, weekly, or monthly data entry from your bank accounts to your accounting software.

    • Reconciliation of all cleared transactions, open deposits, and open checks. 

    • Matching bank reconciliation balances to your trial balance for financial statement review.

    • Cash reporting as needed. 

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  • Credit Card Management

    • All credit card transactions will be entered into your accounting software each month.

    • Each credit card will be reconciled to its statement.

    • Cards will be paid on time to avoid fees and interest.

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  • Accounts Receivable

    • Design of an efficient invoicing system.

    • We'll gather the data to build the invoices.

    • Invoices are sent to customers once you've approved them.

    • Statements sent to outstanding customers after a 30 or 60 day period.

    • Collection calls to customers. 

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  • Accounts Payable 

    • Build a purchase order system if necessary.

    • Vendor balance reconciliation.

    • All new bills will be entered into the accounting software each day, week, or month.

    • We will prepare bills for payment once approved by you.

    • The checks will come out of your printer and you can sign and send when you're ready. 

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  • Hawaii General Excise Tax & Transient Accommodation Tax returns

    • We will review your transactions each period and determine the amounts due to the State of Hawaii.

    • We will prepare the GET & TAT returns.

    • The cash requirement will be sent to you for approval.

    • Once approved, we will electronically file the return with the State of Hawaii.

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Financial Reporting

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We provide daily, weekly or monthly financial updates to keep you in the loop with your finances.

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  • Income statements / Profit & Loss statements

    • One of the four major financial statements is the income statement, which shows net income or net loss. This type of statement tracks all the money coming in and all the money going out. Money paid out is called expenses and coming in is called revenue. When the expenses exceed the revenue, the income statement will show a net loss.

    • The income statement is broken down into categories, including:

      • ​Operating Section ​
        • ​Revenues - Money received from the sale of products and services
        • Operating Expenses - Cash outflows during a period, including advertising and rent for office space
        • Cost of Goods Sold - Direct costs of goods produced and sold by a business

      • ​​Non-operating Section 

        • Other Revenues or Gains - Money received from other than primary business activities​​​

        •  Other Expenses or Losses -  Expenses not related to primary business operations, including a one-time purchase and interest on borrowed money

 

  • Balance Sheets

    • The balance sheet is another one of the four basic financial statements and it contains assets, liabilities, and owners' or shareholders' equity. The assets include cash, property, inventory, and anything else owned by the company. Assets are listed on the left side of the balance sheet. Liabilities and equity are listed on the right side. Liabilities include accounts payable or any type of payment made on a long-term loan.

    • The owners' or shareholders' equity is established when the amount of liabilities is subtracted from the amount of assets. The reason it's called a balance sheet is because the formula should always look like this:

      • Assets = Liabilities + Shareholders' Equity

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  • Statement of Cash Flow

    • The third of the four major financial statements is the statement of cash flow. The basic principal of this statement is to know and understand exactly where cash is flowing in from and where it is flowing out to. It enables the company to see if they are spending more than they are earning or vice versa. If the amount of cash is consistently more than the net income, it means the company's net earnings are "high-quality."

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  • Statement of Owner's Equity

    • If there are any changes in the owner's equity between accounting periods, it is listed on the statement of owners' equity, another of the four main financial statements. The key components listed on this statement include:

      • Beginning equity balance

      • Additions and subtractions

      • Ending balance

    • The additions and subtractions are for a particular period and can include things like net income, dividend payments, and withdrawals.

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  • Custom financial reports

    • Based on your company needs​.

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  • Monthly reviews of company performance

    •  To review your current progress against your ideal performance. ​

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