Bookkeeping/Write Up Service

We provide full bookkeeping services for our clients, including general ledger, general journal, bank statement reconciliation, and accounts receivables and payables analysis.

For your business to run more efficiently on a day-to-day basis, an accurate and complete bookkeeping system is essential. As a successful businessperson, you are already aware that well-organized financial records are the foundation of your business, but you may not have the time, resources or expertise to do the job internally.

At Mahmoud & Associates, we support a variety of business types including legal services, medical practices, not-for-profit organizations, advertising, information technology, e-commerce, manufacturing, distribution, real estate developers and construction, securities, transportation, and retail and consumer services. Assisting local small business owners is our primary focus and Mahmoud & Associates will handle the day-to-day bookkeeping tasks, thereby giving you the time you need to focus on achieving your core business revenue goals.

Our Bookkeeping/Write Up Services include the following:

·  Record cash receipts and disbursements

o   General Journal: Accounting entries are recorded in a journal in order by date. Even if you have accounting software that will generate entries for routine transactions, a general journal is necessary to record non-routine transactions, such as depreciation, bad debts, sale of an asset, etc. In the general journal, you enter the account to be debited and the account to be credited and the amounts. Once a transaction is recorded in the general journal, the amounts are then posted to the appropriate accounts.

o   General Ledger: The general ledger houses your company’s accounts. Accounts (such as Cash, Accounts Receivable, Equipment, Accumulated Depreciation, Accounts Payable, Sales, Telephone Expense, etc.) are contained in the general ledger.

·  Prepare financial statements from general ledger or trial balance information.  There are four types of financial statements:

o   Balance Sheet: a statement of financial position or condition that summarizes your company's assets, liabilities, and net equity as of a given point in time.

o   Income Statement: a Profit and Loss statement for your business (or a "P&L"), that includes your company's income, expenses, and profits over a period of time.

o   Statement of Retained Earnings: This report explains the changes in your company's retained earnings over the reporting period.

o   Statement of Cash Flows: This report includes your company’s cash flow activities, particularly its operating, investing and financing activities.

·  Reconcile Bank Statements

·  Maintain accounts receivables and/or accounts payables.

·  Analyze accounts receivables and payables

·  Process Payroll

·  Calculate payroll tax deposits

·  Prepare sales tax returns

·  Summarize data required for tax returns