Business Accounting & Bookkeeping in Vancouver, WA
Based in Vancouver, Washington, Addvantage Accounting & Tax Services offers business accounting and bookkeeping services that support clients as they establish a solid financial foundation that drives the achievement of their larger strategic goals. Our clients benefit from the business acumen and experience we have gained in over thirty years working with small to medium size businesses. Through long-term personal working relationships and one-on-one interactions, we help our clients distill their financial data into useful information with which they are able to make informed decisions.
We are a Vancouver, Washington CPA firm that believes accumulating transaction data accurately and efficiently is the root of sound financial management. Our bookkeeping services help our clients gather and organize their data so it can be converted to information and used to make data-driven decisions.
We help clients determine the categories of revenues, expenses, assets and liabilities that match the way they operate their ventures. From construction contractors to retail operators to providers of personal services, we understand the proper accounting structures that support the type and accuracy of information our clients need and demand.
With that structure in place, we assist our clients by capturing their data and provide timely visibility into what their organization has accomplished. No more flying blind about what was billed to customers and charged by suppliers, or what cash was received from customers or paid to suppliers and employees.
To prove the completeness of client records, we also offer reconciliation services to match accounts with statements from banks, credit card providers, and suppliers.
We provide these services in a personable and friendly manner that allows our clients to confidently focus on building their business, not their accounting records.
While accumulating transaction data is a critical step, to be useful, that data must be summarized and reported. Our accounting services turn client data into actionable information.
At the core of these accounting services are the essential statements--such as cash flow statements, income statements, revenue and expense summaries, and balance sheets--that provide transparency into the performance and financial position of any business.
With these tools, we work with our clients to analyze and interpret the drivers of their business so they can make data-driven decisions that support their goals.
We also use these tools to help our clients maintain tax compliance throughout the year, including sales tax, business and property tax, and quarterly income tax requirements.
These tools serve as a platform for an interactive working relationship, where we listen to what our client have to say as much as we communicate our own observations with them.
Our clients value the fact that, with Addvantage Accounting & Tax Services, they have an accountant in Vancouver who will speak with them, not down to them. Contact us today to arrange a free consultation to get acquainted and discuss how we can help create the financial management foundation for your business needs.
Each month or quarter we'll do the following things for you...
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Reconciling your business checking account each month allow us to keep your
bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to...
- Identify lost checks, lost deposits and
unauthorized wire transactions.
- Detect and prevent excess/unjustified bank
charges and ensures transactions are posted correctly by your bank.
- Detect and prevent embezzlement of funds from
within your company.
- Know how your business is doing? You can't
really know unless all accounts are reconciled and properly accounted for on
your financial statement.
- Manage your cash more effectively.
Proper management of funds not only saves money, it makes money for you.
- Protect yourself. By timely reconciling and
promptly objecting to your bank about any unauthorized, fraudulent or forged
checks presented to your bank and paid by that bank, you can relieve your agency
of responsibility for the shortfall and transfer the risk to the bank. This
reason to reconcile alone should be enough. Crime exists.
- Sleep Better. You will sleep more
peacefully at night knowing your bank accounts are reconciled, in balance and
that all escrow funds, accounts, checks and disbursed funds are properly
An income statement, otherwise known as a profit and loss statement,
basically adds an itemized list of all your revenues and subtracts an itemized
list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to...
- Track revenues and expenses
so that you can determine the operating performance of your business.
- Determine what
areas of your business are over-budget or under-budget.
- Identify specific items that are
causing unexpected expenditures. Like phone, fax, mail, or
- Track dramatic increases in product
returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in
A balance sheet helps you...
- Quickly get a handle on the financial
strength and capabilities of your business.
- Identify and analyze trends, particularly in the area of
receivables and payables. For example, if your receivables cycle is lengthening,
maybe you can collect your receivables more
- Determine if your business is in a position to expand.
- Determine if your business can easily handle the normal financial ebbs and flows of
revenues and expenses?
- Determine if you need to take immediate steps to bolster
- Determine if your business has
been slowing down payables to forestall an inevitable cash shortage?
Balance sheets, along with income statements, are the most basic elements in
providing financial reporting to potential lenders such as banks, investors, and
vendors who are considering how much credit to grant you.
Maintaining a Clean General Ledger
The general ledger is the core of your company's 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.
Having us review your general ledger system each month allows us
to hunt down any discrepancies such as double billings or any
unrecorded payments. Then we'll fix the discrepancies so your
books are always accurate and kept in tip top shape.
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our fees will be based upon your requests and needs.