Enlaiven offers comprehensive accounting and bookkeeping services, recording day-to-day transactions such as sales, purchases, payments, and receipts in the books of accounts. Additionally, we record month-end adjustments, such as depreciation, prepaid expenses, and accruals, to help close the books for the month.
At Enlaiven, we believe in the “first time right” concept in accounting and bookkeeping. Every small transaction recorded in the books holds significant relevance, and accuracy at the time of recording is critical to generate accurate financial reports that aid in important decision-making. Therefore, our team carries this mindset and delivers accounts with the highest possible accuracy. We understand that accuracy is paramount in accounting and take great care to ensure that every transaction is recorded correctly.
Our bookkeeping and accounting solutions comprise of below tasks which are crucial to any business to have control over its finances.
Effective accounts receivable management is critical for the success of any business. Poor management of receivables can negatively impact cash flow, and many businesses have failed as a result.
At Enlaiven, we assist our clients in managing their receivables by conducting periodic reviews and analysis of aging reports. We identify areas where our clients are falling short in receivable management and provide suggestions on how to improve their processes. Additionally, we ensure accurate bookkeeping of receivables and allocate payments correctly against the outstanding receivables. Our aim is to help our clients maintain a healthy cash flow and minimize the risk of negative impacts on their business due to poor accounts receivable management.
Effective accounts payable management is crucial for any business, as it can have a significant impact on cash flow and profitability. Proper management of accounts payable ensures that a business can meet its financial obligations to its vendors, suppliers, and creditors in a timely and efficient manner.
By managing accounts payable effectively, a business can negotiate better payment terms and discounts from its suppliers, improve relationships with vendors, and ensure that it has a good credit rating with its creditors. Additionally, proper management of accounts payable can help a business to avoid late payment fees and penalties, which can add up quickly and negatively impact cash flow.
At Enlaiven, we keep continuous watch on accounts payable of our clients by periodic review of aging summary and providing weekly payable summary to our clients. Our weekly payable summary is backed by a summary of cash on hand and up-coming financial commitments, which helps our clients on accurate decision making on setting priority as far as accounts payables are concerned.
Monthly management accounts are a crucial tool in analyzing business performance, identifying profitability, and understanding where expenditure may be draining profits. Management accounts can help guide important decisions regarding cost control and profit maximization, but it is essential to prepare them on time. Ideally, management accounts should be available no later than the 10th of each month to ensure that important business decisions can be made promptly.
At Enlaiven, we take a proactive approach to ensure that our clients receive their management accounts on time. We begin planning for management accounts before the end of each month and start working on financials by the 1st of the month. We reconcile all accounts and send any open points to our clients in advance so that necessary adjustments can be made in the books. This allows us to provide accurate management accounts on or before the due date.
In addition to providing management accounts, we also prepare working papers for each month that show the reconciliation of each account in the balance sheet. We believe that the balance sheet is a crucial statement that reflects the true financial position of any organization and should not be ignored. Therefore, we attach working papers to the financial statements to provide our clients with a comprehensive overview of their financial situation.
Filing a tax return on time is essential for any business to avoid legal implications that may arise due to non-filing or late filing. It is also an important document required by financial institutions for providing loans. At Enlaiven, we help our clients by finalizing their books at the end of the year, making necessary adjustments, and reconciling all balance sheet ledgers. We prepare Working Papers to provide a backup schedule for each ledger that has been reconciled and submit it to our clients’ CPAs so they can file tax returns on time. We also work closely with our clients’ CPAs to address any queries and facilitate timely filing of tax returns.
At Enlaiven, we provide payroll processing services and have experience of working on various payroll software available in the market. It’s important to ensure accurate and timely processing of payroll to avoid legal issues and maintain employee satisfaction. We have a thorough process in place where we collect payroll data, review, and input it into payroll software, and pre-process the payroll before seeking approval from our clients. This helps in minimizing errors and ensuring that the final payroll is processed accurately and on time.
At times, it happens that small and mid-sized businesses do not have in-house accountants. In such situations, business owners take care of bookkeeping. As owners are meant to do a business, and not bookkeeping, they might end up making a lot of mistakes while recording transactions into books of accounts. In such situations, books at the end of the year need a lot of clean up before it is submitted to CPAs for filing returns.
At the same time, it is also possible that transactions have not been recorded at all for the entire or part of the year and catch-up work needs to be done before the books are submitted to the CPAs for filing tax returns.
At Enlaiven, we help our clients in one time clean up and catch-up work for the year with affordable fees.
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Do you want to get on top of your bookkeeping? Enlaiven Accounting can assist with a one-time clean-up and catch-up or can provide recurring monthly Accounting, Bookkeeping & Financial management services. Simply complete our online form and detail all the services you require!