What Is Accounting?

​​Accounting is the disclosure, measurement or provision of assurance pertaining to financial information. This information  helps investors, tax authorities, managers and others make decisions about allocating their financial resources. Although accounting is essential to small business success hiring a full time accountant just isn't feasible for all businesses. Outsourcing your small business accounting to the professionals at Elite Tax and Accounting is a great way to stay on top of your business finances as well as plan for long term success. Our small business accounting service is performed monthly or quarterly by a CPA or Accountant and include the following-​

Bank Account Reconciliation

A Bank reconciliation is a process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's internal records at a particular point of time.

Income Statement

​An income statement is a financial statement that measures a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and nonoperating activities. Depending on your particular situation an income statement will be generated monthly or quarterly. 

Balance Sheet

​A balance sheet is a financial statement that summarizes a bussinesses assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by shareholders.

General Ledger

​The general ledger is the core of your small business' financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books and can make your small business accounting very inaccurate.
What Is Small Business Accounting?
​​Accounting is the disclosure, measurement or provision of assurance pertaining to financial information. This information  helps investors, tax authorities, managers and others make decisions about allocating their financial resources.
Do I Need Small Business Accounting Services
​Although accounting is essential to small business success hiring a full time accountant just isn't feasible for all businesses. Outsourcing your small business accounting to the professionals at Elite Tax and Accounting is a great way to stay on top of your business finances as well as plan for long term success.
Reports and Dashboards
Our small business accounting dashboards give you up to date reporting 
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