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News |
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Benefits |
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Small Business Services
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Analytix is a premium provider of accounting, bookkeeping and tax preparation services for small, medium sized
and fast growing companies.
Our clients are served by a professional accounting staff that has a level of expertise not normally found in small businesses.
Our aim is to reduce the burden of critical non-core functions, providing the owner valuable time and freedom to focus on enhancing
business performance to increase profits. Analytix benefits
Business owners need to maintain accurate financial records to properly manage their business, while also conforming to government regulations
requiring mandated filings, such as federal income and state sales taxes. In general, businesses need three types of services during the
year which our professionals provide:
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Bookkeeping
Services |
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Bookkeeping is the recording of a business's financial transactions. It is the first step of the accounting process, which also includes classifying, reporting and analyzing financial data.
Bookkeepers organize and tracking receipts, canceled checks and other records generated by financial transactions. They also chronologically record and reconcile all transactions such as cash disbursements, cash receipts, sales and purchases in a journal, and post the journal entries to a ledger of accounts, which are subsequently used by accountants to prepare financial statements and tax filings. |
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Accounting
Services |
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Business owners regularly need an accurate financial picture to understand how to better manage a business. Financial statements provide owners with crucial information such as the business’s liabilities, assets, equity and profitability over a given period. An understanding of financial statements also helps owners better manage their revenues, customers and expenses.
Businesses also need accurate financial statements if they have or need a business loan or credit from a financial institution, such as a bank. Most lending institutions will require that businesses provide regular financial statements before and regularly after receiving a loan. For owners with franchises, the franchise also often requires specific financial information as part of their franchise agreement. |
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Tax Planning and
Financial Analysis |
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All businesses are required by law to file with both state and federal government. These mandated filings range from tax estimates, individual and business tax returns, to quarterly or monthly state sales tax filings. Further, government regulations require that copies be kept of all financial records needed in the filing for up to seven years. Without good record-maintaining, businesses can leave themselves exposed to fines and penalties during an audit by the appropriate state or federal authorities.
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