Accounting Services

Providing First-Class Professional Accounting Services to Small & Mid-size Businesses

For your business to operate at its highest level of efficiency, a solid and reliable accounting firm is a critical part of the team. At Blue & Associates, we take this role very seriously. With countless collective years of experience and a diverse variety of business backgrounds, our accounting staff brings a unique blend of experience to the intricacies of accounting and bookkeeping. This acute understanding allows our staff to provide first-class professional accounting services to small and midsize businesses in the area.

Business Accounting Services Offered at Blue & Associates:

Financial Statements & Reports
Cash Flow Analysis and Cash Management
Books Cleanup
• Budgets
Review and Supervise Bookkeepers
Sales Tax Reports
Special Projects
Monthly, Quarterly, Year-end review

Financial Reports

• Preparing financial statements
- Balance Sheet

- Income Statement

- Cash Flow Statement

• Managing bank and general ledger reconciliations
• Preparing monthly tax filings
• Performing month end closings
• Preparing the trial balance

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Financial Statement Analysis

Financial Statement Analysis can tell you a lot about how your business is doing. Without this analysis, you may end up staring at a bunch of numbers on budgets, cash flow projects, and profit and loss statements.

Understand your business with balance sheet analysis and income statement analysis.
• Balance Sheet depicts the overall status of your finances at a fixed point in time.
• Income Statement or “P and L” statements depict the status of your overall profits.

There are some techniques and tools to help in financial analysis, for example, profit analysis, break-even analysis and ratios analysis that can substantially help to simplify and streamline financial analysis.

How you carry out the analysis depends on the nature and needs of you and your business. We can help understand your financial statements to improve decision-making capabilities from clearly seeing the hard and true numbers of your business.

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Cash Flow Analysis and Cash Management

The starting point for good cash flow management is to understand your current cash flow statement and situation.

Good cash management involves:

• Knowing where you are spending your cash
• Knowing when, where, and how your cash needs will occur
• Knowing the best sources for meeting additional cash needs
• Being prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors

We can help develop cash flow projections. Smart business owners need to develop both short-term (weekly, monthly) cash flow projections to help them manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help them develop the necessary capital strategy to meet their business needs.

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Clean Up Your Accounting Books

Unfortunately, it is not too rare to have calls regarding problems with existing accounting records. A natural pursuit to save money very often pushes small business owners to hire a “cheap” bookkeeper.

Our experience with small businesses demonstrates that many bookkeepers (including ones claiming to be very experienced) do not have even basic accounting knowledge, but some practice in usage of accounting software.

• Sometimes they record transactions nonexistent in accounting practice (for example posting assets on a liability account) and other blunders.
• Do not try to hire another “cheap” bookkeeper to fix the books after the first one.
• If you get in trouble with your books we can help you to get out of a difficulty.

Accounting records restoration is a time consuming process requiring high accounting qualifications which our accountants possess. Our Accountants are truly accountants and know how to “fix” and clean up any problems with your accounting records.

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Review and Supervise Bookkeepers

Review and supervise the work of you or your bookkeeper, including (but not limited to) review of the general ledger, accounts payable, accounts receivable, fixed assets, inventory, payroll, bank reconciliations and other routine accounting activities performed by the bookkeeper. We can do this on as needed basis or as a checkup at any point in time.

We also can perform a review or your internal controls. We can evaluate your current accounting procedures with you or your bookkeeper. Our goal is to help streamline the workflow, to be more efficient, to capture all the data correctly and to produce e quality and timeliness financial information. See our Internal Controls.

Our Accounting Supervisors are available to answer any accounting questions and or QuickBooks questions.

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Sales Tax Reports

What Is Sales Tax?
A tax imposed on the resale of certain tangible items. Generally, sales tax is not imposed on intangibles such as ideas or concepts.
Do I Have To Pay Sales Tax?
If you buy items at wholesale (no sales tax) and resell those items to the retail public you are required to charge a sales tax and pay that tax to the State Board of Equalization.
How Do I Report And Pay The Sales Tax To The State Board Of Equalization?
Once you have received your Resale Number the State Board of Equalization will determine the frequency you need to report and pay your sales tax. The frequency of reporting and paying will be based on the volume of your sales. Reporting can be weekly, monthly, quarterly, semiannually or annually. The State Board will mail you the required forms.
Do I Have To Hire A Tax Preparer To fill Out the Form?
Although the forms can be completed by anyone, it is recommended that the Preparer be well versed in the laws and regulations of sales tax reporting.

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Special Projects

If you have any special projects that you need our assistance with, we are more than happy to meet with you to discuss how we can help you achieve your goals.

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Monthly, Quarterly, Year-end review

Monthly Bookkeeping
Recommended for business owners who want to track their business performance on a month-to-Month basis. Also ideal for businesses that are required to provide regular financial reports to Third parties (i.e. franchisors, banks).
Quarterly Books
Recommended for business owners who do not want monthly bookkeeping, but desire to track their business performance at least on a quarterly basis. This service would be our suggested minimum requirement, if you have payroll.
Year-End Catch Up
Usually for business owners who just want their income Taxes filed, and have not done any bookkeeping throughout the year.

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