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Small business accounting made easy

Accounting & Bookkeeping

Whether you are a start-up business, a growing business or a mature corporation, My Tax Lady has the expertise to help you. Through prompt and timely service, along with an intimate knowledge of the rules and regulations, we can keep you ahead of government deadlines, maintain order in your internal financial systems, and reduce the headaches that come with owning a business.

We can handle it all, from your payroll needs to banking and check writing.  If you’re having issues preparing your financial statements, we can tackle them for you. You name it…we can do it!

Why Virtual Bookkeeping?

My Tax Lady’s virtual bookkeeping services free you up to focus where you’re most interested—and most needed—with the full confidence that your financial records, P&L statements, Accounts Receivable and Accounts Payable reports are all getting the meticulous attention of true professionals. You’ll have your information whenever you need it and wherever you are: it’s all available in real time, right at your fingertips. 

With the help of our professionals, you’ll not only get an immediate upgrade in your understanding of where your business stands and what you need to do to help it grow; you’ll also have the confidence that when banks and creditors ask for information, you’ll have accurate financial documents you can count on.

Feel at Ease with My Tax Lady

Our experienced advisors have been providing online accounting and bookkeeping services across many industries for years. We know you have your own system and priorities, and that letting go of your process requires a leap of faith. That’s why we take our time and listen carefully before we get started on your projects, asking all the right questions so you know that our services are tailored to your specific needs. Whether you only want us to handle a few tasks or want to turn over your entire accounting responsibility, we’ll do as much or as little as you want—all virtually—giving you back the precious time you’ve been missing.

Benefits of Virtual Bookkeeping

  • More time to spend on your areas of expertise and interest, especially if you’ve been trying to maintain the books yourself

  • Up-to-date records and statements, always available in real time

  • Avoid hiring and training staff bookkeepers & reduce overhead costs

Bank Reconciliation: Bank reconciliation ensures that all of your important records are up-to-date and in sync with each other. By carefully reviewing your business checking account and comparing it to your accounting and tax information, we’re able to help you:

  • Identify missing checks and deposits and discover unauthorized wire transactions.

  • Spot bank charges which may be unjustified or excessive and prevent them from happening in the future.

  • Make sure transactions are posted correctly.

  • Protect yourself from the risk of funds being embezzled as well as unauthorized or forged checks or other fraudulent activity. Constant analysis and oversight can transfer responsibility and risk to the bank.

  • Have a clear picture of the health of your business.

  • Provide you with more effective cash management.

  • Have the piece of mind of knowing that all of your financial paperwork is in order.

Income Statement: An income statement is a valuable business toll that itemizes all of your revenues and expenses in order to show you your profit or loss during a given period. Having an accurate and current income statement gives you the ability to:

  • See at a glance where you are spending too much or staying within your budget.

  • See exactly where you are making money and where you are spending money in order to assess business performance.

  • See where expenses are running higher than anticipated, allowing you to make corrections.

  • Identify other unanticipated activities, such as product returns or sudden increases in the cost of goods.

  • Calculate income tax owed.

Balance Sheet: Having an accurate balance sheet available provides you with a quick way to determine the health of your business at any given moment. By reviewing balance sheet information you can:

  • See where your business’ strengths and weaknesses lie

  • Spot trends, determine their cause and come up with solutions, especially those involving accounts payables and accounts receivable.

  • Make informed decisions regarding the possibility of expansion.

  • Make informed decisions regarding your ability to remain flexible in the face of expansion and contraction of business.

  • Determine whether you need to increase your cash reserves.

  • See whether your payables are being made in a timely way.

Having an up-to-date, accurate balance sheet and income sheet is essential for businesses that are considering applying for credit or who are responsible for providing financial reporting to creditors. These are the documents that they will rely upon in making decisions that are important to your business’ future.

Keeping a Clean General Ledger

One of the most important services that we provide to small business is a regular review of your general ledger system. The reason that this is so essential is that the general ledger is where the most essential information about your company’s finances is recorded. If something within the ledger is incorrect, the problem will flow through the rest of the company’s financial information, so having us double check for accuracy and discover any discrepancies will ensure that bigger problems don’t develop along the way.

Unlimited Consultations

When you work with our small business services, unlimited consultations are part of the package. We want you to have a complete understanding of the information that we provide and how you can best use it, so you should never hesitate about contacting us with questions.

When you retain our services, we make it a priority to learn your goals and operations quickly so we can hit the ground running.  Based on experience, we can easily identify opportunities for more effective tax planning, improved internal controls, and other areas that will make your business more profitable.