We specialize in small business bookkeeping, offering services tailored to meet the needs of growing businesses. Our team of experienced bookkeepers ensures that your financial records are organized, up-to-date, and fully compliant with accounting standards, allowing you to focus on what you do best—running your business.
Our comprehensive bookkeeping services are designed to give you a clear, organized view of your business’s financial position. We handle every aspect of bookkeeping, from recording daily transactions to preparing financial reports, so you have the information you need to make sound business decisions.
We understand that every business has unique bookkeeping needs, and we work closely with our clients to customize our services, making us a trusted partner in financial clarity and growth. Located in Franklin, we proudly serve small businesses in our community with personalized, bilingual support in both English and Spanish.
Bookkeeping Services
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Our bookkeeping services go beyond simple data entry; we offer comprehensive support and insights that empower you to manage your business’s finances with ease. Here’s what makes J&R Accounting the top choice for bookkeeping services in Franklin:
Precision and Attention to Detail
Bookkeeping errors can lead to significant issues down the line, from incorrect tax filings to inaccurate financial reports. Our team is dedicated to accuracy, ensuring that every transaction is correctly recorded, categorized, and reconciled, so you can trust that your financial records are reliable and complete.
Customized Solutions for Small Businesses
We know that every business is different, and that’s why we tailor our bookkeeping services to meet your specific needs. From daily transaction tracking to monthly reports, we provide flexible options that scale with your business, allowing you to choose the level of support that fits your goals and budget.
Bilingual Support in English and Spanish
Our bilingual team is here to make bookkeeping accessible and understandable for all clients. By offering services in both English and Spanish, we ensure clear communication and support, helping you feel confident in managing your finances.
Transaction Recording
Accurate transaction recording is fundamental to effective bookkeeping. Our team carefully records every financial transaction, from sales and expenses to bank deposits and withdrawals, ensuring that your accounts are always up-to-date.
Sales and Revenue Tracking: We keep a detailed record of all sales and revenue sources, helping you monitor business performance and identify growth opportunities.
Expense Recording: Every expense is categorized correctly, providing a clear picture of where your money is going and allowing for precise budget management.
Categorization: Transactions are categorized based on their nature, such as office supplies, utilities, or travel, making it easy to understand your spending patterns and prepare for tax season.
By meticulously recording and classifying transactions, we help you maintain an accurate, organized financial record that is ready for tax preparation and financial analysis.
Bank & Credit Reconciliation
Bank reconciliation is essential for verifying that your financial records match your bank statements. We perform regular reconciliations to ensure accuracy and identify any discrepancies, such as unrecorded transactions or potential fraud.
Monthly Reconciliations: We reconcile your bank and credit card accounts on a monthly basis, identifying any discrepancies and ensuring that your records are complete and accurate.
Error Detection: Regular reconciliation allows us to spot errors, such as duplicate entries or unrecorded transactions, before they become larger issues.
Cash Flow Monitoring: By reconciling your accounts, we provide a clear view of your cash flow, helping you manage liquidity and avoid overdraft fees or missed payments.
With our bank reconciliation services, you can rest assured that your financial records are accurate and reflect your true financial position.
Accounts Receivable & Payable
Managing accounts receivable (AR) and accounts payable (AP) is crucial for maintaining a healthy cash flow. Our team handles all aspects of AR and AP, ensuring that payments are collected on time and that your bills are paid promptly.
Invoicing and Payment Collection: We manage the invoicing process, ensuring that your clients receive accurate, timely invoices and that payments are tracked effectively.
Vendor Bill Management: We process and record vendor bills, ensuring they are paid on time to maintain positive supplier relationships and avoid late fees.
AR and AP Aging Reports: Our aging reports help you keep track of outstanding invoices and overdue bills, allowing you to stay on top of collections and payments.
With our accounts receivable and payable management, you can streamline your cash flow and improve relationships with clients and suppliers.
Expense Tracking & Categorization
Tracking business expenses accurately is essential for budgeting and tax preparation. We categorize and record each expense, helping you monitor spending and maximize deductions.
Expense Classification: We categorize each expense based on type, such as travel, utilities, or office supplies, giving you a clear breakdown of where your money is going.
Budget Adherence: By comparing actual expenses to your budget, we help you identify any discrepancies and make adjustments as needed.
Tax Deductibility: Accurate expense tracking ensures that you capture all eligible deductions, reducing your tax liability and maximizing savings.
With detailed expense tracking, you gain a clearer picture of your costs and opportunities for savings.
Month, Quarter, Year Reports
Regular financial reporting is essential for understanding your business’s performance and making informed decisions. We provide monthly, quarterly, and year-end reports that give you a detailed view of your revenue, expenses, and overall financial health.
Income Statement (Profit & Loss): Shows your revenue and expenses, allowing you to assess profitability and make adjustments as needed.
Balance Sheet: Provides a snapshot of your assets, liabilities, and equity, giving you a clear understanding of your business’s financial position.
Cash Flow Statement: Tracks cash inflows and outflows, helping you monitor liquidity and plan for upcoming expenses.
Our reports offer valuable insights into your business’s financial health, enabling you to make data-driven decisions and set realistic financial goals.
Financial Clean-Up Services
If your books are behind or need a fresh start, our financial clean-up services can bring everything back in order. We review your existing records, correct errors, and organize your accounts, ensuring you start with a clean slate.
Catch-Up Bookkeeping: We bring your books up-to-date by recording any missing transactions and reconciling accounts, helping you regain control of your finances.
Error Correction: We identify and correct discrepancies, such as duplicate entries or misclassified expenses, ensuring that your records are accurate and reliable.
Organization: Our team organizes your financial records, making it easier to track expenses, prepare for tax season, and generate accurate reports.
With clean, organized financial records, you can move forward confidently and efficiently.
Tax Preparation Support
Accurate bookkeeping is essential for efficient tax preparation. Our team ensures that your financial records are organized and compliant, making it easy to file taxes and maximize deductions.
Tax-Ready Financial Statements: We prepare detailed financial statements that make tax filing straightforward and minimize the risk of errors or omissions.
Deduction Maximization: Our meticulous expense tracking ensures that all eligible deductions are captured, reducing your tax liability.
IRS Compliance: We ensure that your records meet IRS standards, helping you avoid penalties and stay compliant with tax regulations.
With J&R Accounting handling your bookkeeping, you’ll be well-prepared for tax season and able to file with confidence.
Budgeting & Forecasting
Planning for the future is essential for small business success. Our budgeting and forecasting support helps you set realistic goals, allocate resources effectively, and prepare for growth.
Budget Creation: We work with you to create a detailed budget that reflects your expected revenue, expenses, and profit, enabling you to allocate resources strategically.
Financial Forecasting: Based on historical data and industry trends, we generate financial forecasts that help you anticipate changes in income, expenses, and cash flow.
Goal Setting: With a clear budget and forecast, you can establish achievable financial goals and develop a roadmap for growth.
By setting a strong financial foundation with budgeting and forecasting, you position your business for long-term success.
