jlzwhite.gif (125550 bytes) Accounting for Small Business
Small Business Specialists Providing Peace of Mind for Accounting, Income Tax, Daily Book Processing, and Payroll Administration

Specializing in Payroll Service  Bookkeeping Service   Accounting Service                     Income Tax Filing for Corporations, Partnerships,                                       Sole Proprietorships,                   and Non Profit Organizations.
ATTENTION BUSINESS OWNERS!   
Find out how affordable and easy payroll and bookkeeping service can be.

           

JLZ Accounting as Your Information System ...
JLZ Accounting may be defined as an information system that provides reports about the economic activities of your business. You might think of our accounting as the "language of your business", because it is the means by which your business information is communicated. From us you receive reports that summarize your financial performance. Because individuals make decisions based upon the data in accounting reports, your accounting system has a major impact upon the business decisions you make.
Terms and Concepts Balance Sheet
There are a few things you need to understand in order to make setting up your accounting system easier. They're basic, and they will probably clear up any confusion you may have had in the past when talking with your CPA or other accountants. A balance sheet is a snapshot of a business' financial condition at a specific moment in time, usually at the close of an accounting period. A balance sheet comprises assets, liabilities, and owners' or stockholders' equity.
General Ledger Amortization
The general ledger is the core of your company’s financial records. These constitute the central “books” of your system, and every transaction flows through the general ledger. This is the heart of your accounting functions. In the course of doing business you will likely acquire what are known as intangible assets. These assets can contribute to the revenue growth of your business and, as such, they can be expensed against these future revenues.
Income Statements Depreciation
An income statement, otherwise known as a profit and loss statement, is a summary of a company's profit or loss during any one given period of time, such as a month, three months, or one year. The concept of depreciation is really pretty simple. For example, let's say you purchase a truck for your business. The truck loses value the minute you drive it out of the dealership.
JLZ Specialized Accounting Fields
You may think that all accounting is the same. However, at JLZ Business Services you will find several specialized fields of accounting in our practice. Two of the most common are financial accounting and managerial accounting. Other fields include cost accounting and tax accounting.
   
JLZ Financial & Managerial Accounting
JLZ Financial Accounting is primarily concerned with the recording and reporting of economic data and activities for an entity. These usually consist of an Income Statement, Expense Statement and Balance Sheet. Although such reports provide useful information, they are mainly the principal reports for owners, creditors, and governmental agencies. However, we just don't stop there. JLZ Business Services provides many different Profit & Loss Financial Statements and Management Reports based off your information that can be used as a basis upon which to make management decisions. Our bookkeepers do what is called Managerial Accounting, often called Management Accounting, using both financial accounting and data to aid management in running day-to-day operations and in planning future operations. The JLZ focus on Managerial Accounting means providing owners and managers with relevant and timely information and reports. Unlike financial accountants, JLZ Bookkeepers are not restricted to using generally accepted accounting principles. Instead, JLZ Bookkeepers use the basic principal of gathering and reporting information that is useful to management. Thus, JLZ provides it's clients with many management reports that differ widely in form and content.
 

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The JLZ Double-Entry System
How did the early recording of financial activities evolve into a system of accounting? The basic system of accounting, which is still used today, was invented by Luca Pacioli, a Franciscan monk. Pacioli invented what is known as the double-entry system of accounting. A description of the double-entry system was first published in Italy in 1494. This system was strongly influenced by the financial needs of the Venetian merchants.

In spite of the enormous changes in business operations and their complexity since 1494, the basic elements of the double-entry system have remained virtually unchanged. So what's so special about our double-entry system? It is unique because it records financial activities in such a way that an equilibrium is created within the records. For example, assume that you borrow $1000 from a bank. Within our double-entry system the loan is recorded as $1000 of cash received, and at the same time, an obligation is recorded for the eventual repayment of the $1000. Each of the $1000 amounts is balanced by the other. In a complex business environment, in which an entity may be involved in thousands of transactions monthly, this balancing is a valuable control that ensures the accuracy of the recording process.
 

"Your Success Is Our Business"
At JLZ Business Services our focus is on your business: Helping you make it more efficient, more effective and more profitable through personalized bookkeeping services.
 
JLZ Financial Reports
We process your books on a General Ledger, by people who are educated and experienced in Double Entry accounting. This means your Income Statement reflects sales, costs, and expenses that are allocated to the proper period, and that your balance sheet will always be in balance. Your Financial Statements are presented clearly and appropriately to your industry. We will also customize and personalize your reports by what you define. At year end your books are "tax ready".
 
JLZ Management Reports
We provide extensive Management Reports that can be used as a basis to make management decisions. There are Comparison Statements showing current, previous year and previous month changes. The Inventory Report has a turns analysis. The Gross Profit report is easy to read. Expenses are stated by both Sales and Gross Profit Percentages. Our Fuel Management Report shows both island split and product mix analysis. We also provide sales and expense trends in full color graphs to provide visual comparisons. These are unique and only from JLZ Business Services. We can also provide Facility & Employee Productivity Analysis, and gross profit percents by sales category. You also receive a Comparative Balance Sheet showing current month, previous month, and last year variations. Statement of Solvency Ratios, Cash Flows, Statement of Changes in Financial Position, and Statement of Working Capital provide critical management information to manage your working cash flow.
 

Our monthly reports provide you with an in-depth look through the concept of "profit center accounting". By taking a hard look at each sales department, clients can see what it takes to stay in business and prosper.
 
Listed below are some of the reports we provide monthly:
  • Income Statement
  • Expense Statement
  • Balance Sheets
  • Statement of Gross Profits
  • Statement of Inventory
  • Statement of Changes in Financial Position
  • Statement of Working Capital
  • Statement of Solvency Ratios
  • Statement of Cash Flows
  • Statement of Expense Analysis
  • Statement of Business Analysis
  • Current Period Payroll Journal Report

Comparative Statements:

  • Income
  • Expense
  • Balance Sheet
  • Gross Profit.............................................

We also provide sales and expense trends in full Color Graphs to provide visual comparisons.