Business Accounting

Our mission is to empower you with financial control, freeing you to concentrate on your business.

As accountants, we thrive on number crunching. Yet, as a small business owner, you likely didn't start your venture for the thrill of cash flow analysis, profit and loss statements, budget forecasts, or strategic tax planning. That's where we come in.

Budget Management & Advice

Budgeting is critical to the bottom line if you want your company to prosper. 
BAM Virtual Bookkeeping can help you more efficiently and effectively manage your money by creating a budget that will show you where money is being spent and how to improve wasted spending. Our comprehensive financial advice will help you successfully plan for your business’s future. We’ll help you construct a plan for realizing your financial goals for your business.

Payroll

Efficient Payroll Solutions Tailored for Your Business
Small business owners typically devote around eight hours per month to payroll tasks. While this might not appear significant, it accumulates, diverting your focus from core business operations.

For small to medium-sized businesses with multiple employees, payroll management can be daunting. Each year brings new federal, state, or local payroll regulations to navigate.

If you're just starting out with a small team, managing payroll independently might seem feasible. Yet, wouldn't your time be better invested in innovating new products or services for your business?

Fractional CFO

CFO Services: Affordable Financial Expertise for Your Business

Every business, regardless of size, gains from having a Chief Financial Officer (CFO) or controller on board. Yet, many small business owners hesitate due to cost concerns. Perhaps you've attempted to manage your financials in spare moments—or worse, neglected them altogether—only to discover it's a futile effort when your expertise lies elsewhere.

Fortunately, there's a cost-effective solution: outsourcing part-time (fractional) CFO services.

Audit Reviews

Proven Expertise in Audits, Compilations, and Reviews

As a business owner, you have responsibilities to creditors, private investors, and shareholders, all seeking accurate financial statements that reflect your company’s true financial position. CPA-certified financial statements come in three types:

Compilations: This basic level involves compiling financial data without assurance on accuracy, intended for internal management and third-party use.

Reviews: More detailed than compilations but less intensive than audits, reviews provide 'limited assurance.' They include interviews with key personnel regarding accounting policies, industry specifics, operations, and financial statements, concluding with a review report.

Audits: The highest level of service, audits involve thorough examination of internal controls ('checks and balances') alongside verification and substantiation procedures adhering to Generally Accepted Auditing Standards (GAAS).

Forensic Accounting

What is Forensic Accounting? Let  us explain.

If you're considering our forensic accounting services, there's likely a compelling reason. You may suspect fraud, and we're here to help validate your concerns. Consider the following scenarios:
- Does your business appear profitable, yet you struggle to meet financial obligations?
- Have you harbored suspicions about a trusted team member's involvement in fraud, lacking concrete evidence?
- Is your soon-to-be ex-spouse denying the existence of matrimonial assets despite your knowledge to the contrary?
- Do you suspect certain employees of receiving kickbacks?
- Have you encountered unexplained inventory discrepancies?

We specialize in uncovering the truth through our professional forensic accounting services.

Cash Flow Management

Effective Cash Flow Management is Crucial for Business Success

Cash flow represents the movement of money into and out of your business. Achieving positive cash flow—where incoming funds exceed outgoing expenses—is the goal every business owner aims for. It ensures you can meet financial obligations and fuel business growth.

Conversely, when expenses surpass income, it results in negative cash flow. Although occasional dips are common, prolonged negative cash flow spells trouble for businesses. Persistent financial shortfall can lead to business failure.

Bank Financing

For the Best Results, Be Prepared for Bank Financing

The US Department of the Treasury has allocated over $3.9 billion to community banks in 47 states and the District of Columbia through the Small Business Lending Fund. Despite this substantial support, many small business owners have faced challenges in securing bank financing. If you've struggled to obtain a loan for your small business without guidance from a trusted advisor like us, you might be wondering what went wrong.

Banks aren't in the business of handing out money to everyone who asks. When you apply for a loan, they assess your ability to repay it by considering several factors. Whether you need funds for startup costs or business expansion, understanding what banks look for and how to prepare can make the difference between securing the financing you need or having to find alternative sources of cash.

New Business Formation

Building a Strong Foundation for Your Business Success

Starting a new business is an exhilarating journey, but seasoned entrepreneurs know it involves more than just creating a product and expecting it to sell. As an entrepreneur, you're likely a visionary, focused on the big picture. You might prefer to avoid the finer details like selecting the right business entity, handling sales and payroll taxes, or setting up accounting systems to manage cash flow. Fortunately, we're here to help you navigate these complexities.

Non-Profit Organizations

Expertise in Nonprofit Accounting Services and Tax Compliance

Nonprofit organizations encounter distinct challenges that for-profit businesses do not, such as the annual submission of Form 990, adherence to OMB Circular A-133 requirements, and taxation on unrelated business income. Therefore, having a dedicated team of tax and accounting professionals who specialize in nonprofit accounting and tax compliance is invaluable.