Bills and payments.
Tracking your payments and obligations isn’t just good for your business’s financials – it’s also good for your relationships with the vendors and suppliers on whom you rely.
Petty cash transactions.
“Petty cash” may be a misleading term, because improperly managed, petty cash can be a significant source of loss. Logging withdrawals, receipts, and cash deposits makes sure that lock box doesn’t get unexpectedly lighter over time.
Loans and lines of credit.
How close are you to paying off your loan? How close are you to the end of your line of credit? Careful record keeping of payments and expenses in the context of compound interest is beneficial for your bank account and your credit rating.
Account Reconciliation
Your daily records provide a picture of the financial status of your business. Your bank statements provide another picture. If those pictures don’t match perfectly, the discrepancies have the potential to cause you major problems in the future. We compare the minutest details of your bank statements, bookkeeping ledger, expenses, receipts, and reports to find and resolve those problems while they’re still minor.
- Full reconciliation
- Partial reconciliation
- Check sequencing
- Credit card reconciliation
- Year-end and end-of-period adjustments
Full reconciliation.
Full reconciliation services look for consistency among all of your financial accounts and accountings. We process your data and match every debit, credit, bill, and invoice to your bank statements to avoid surprises, whether they come in the form of a missing payment or a suspicious or unauthorized transaction. And when surprises do arise, the analysts at GraphX have the expertise and resources to investigate the problem and take corrective action as necessary.
Partial reconciliation.
When full account reconciliation isn’t required, we provide customized services based on your requirements, sorting transactions according to your instructions and making sure the numbers line up.
Check sequencing.
A missing or out-of-sequence check could be a sign of a filing error or a forgotten transaction. It could also be a sign of fraud. Our analysts detect discrepancies and help find out where the error lies so it can be resolved.
Credit card reconciliation.
Credit card reconciliation is one of the most sensitive, complex, and time-intensive aspects of the bookkeeping process, and oversights can easily lead to overdrafts and damaged credit. We match inbound and outbound credit card transactions with credit card statements and bank statements with precision and accuracy.
Year-end and end-of-period adjustments.
Deferrals, accruals, and asset value adjustments can affect your company’s financial position over the course of an accounting period. We look at everything from merchandise inventory to write-off debts to make sure that your financial statements aren’t just accurate, but that they’re also an accurate reflection of the status of your business.
Custom Reporting
GraphX’s bookkeeping services are about more than keeping records. The reports that we produce give you the curated information that will help you make crucial decisions about your business.
- Reconciliation reports
- Customer reports
- Employee reports
- Breakdown of expenses
Reconciliation reports.
Once all statements, receipts, and records have been sorted and reviewed, we provide a full overview of your accounts so that you can feel comfortable about the strength of your business.
Customer reports. Looking critically at your transactions and interactions can help identify the most and least profitable customers, so you can tailor your business strategy for maximum revenue.
Employee reports. An assessment of the expenses and revenue associated with a given employee can help guide promotions, bonuses, and management structures – and guide counseling and training for employees who are failing to hold up their end.
Breakdown of expenses. Look at your expenses broken out by product line, office, or other category of your choice to see where your money is going. That data can help you determine whether it’s an efficient use of your resources and make the best choices for resource allocation.
