Bookkeeping Services

Bookkeeping Overview

Southern Oklahoma Business Services bookkeeping services include:

  • Maintaining general ledger accounts
  • Compilation of financial statements
  • Preparation of related income tax forms for various business structures, including -corporations, sole proprietorships, LLCs, and partnerships
  • Entity formation services for startup businesses: incorporating firms, and the required registration with the various federal, state, and local authorities
  • Personal income tax for employees and clients

Bookkeeping Services are focused at helping our customers with the management of accounting and tax preparation needs by reducing their finance and accounts operating costs. Personalized and professional bookkeeping services cover the entire scope of bookkeeping and customers have the flexibility to choose what they require.  In a changing world, with globalization, technological advances and a continual revalidation of methods of doing business, business owners have choices when it comes to managing time and business. A business owner can spend much time expanding the business, or buried under paperwork, writing checks, figuring payroll, trying to figure out the government forms, putting together Profit and Loss statements for the bank, and other essential tasks.  Ability to deliver cost-effective services faster and better should be a business owners most important goal and aim for their business.

Outsourced Bookkeeping

Southern Oklahoma Business Services handle business bookkeeping services that facilitate the smooth and successful functioning of your business.  Outsourced bookkeeping includes:

  • Bank Reconciliation
  • Trial Balance sheet preparation
  • Financial Statement preparation
  • General Ledger Maintenance
  • Accounts Receivable
  • Accounts Payable

Outsourcing your bookkeeping to Southern Oklahoma Business Services provides you with:

  • Financial analysis
  • Day to day tasks reporting
  • Year end tax projection
  • One stop solution for financial & accounting needs
  • Timely, accurate & fast processing
  • Highly trained and experienced bookkeepers

We are totally committed to a personalized approach in assisting to customers.  We serve many small and medium businesses, locally in Ardmore, OK and across most US States. You can outsource your bookkeeping services or small business accounting requirements to us and focus on core business activities. We have experienced bookkeepers and accounting professionals to work closely with you.

Accounts Reveivable

Managing working capital and maintaining cash flow are vital for small business accounting for meeting liquidity needs and Southern Oklahoma Business Services can offer you professional accounts receivable management services. Whether your tasks are simple or complex, we have every resource to assist you from posting checks and payments to transfer funds, from entering invoices into an accounting system to matching invoices with receipts and purchase orders.

Accounts receivable management benefits include:

  • Centralized customer invoice control
  • Prompt customer invoice generation
  • Customer account reconciliation
  • Automated customer statement generation
  • Banking of customer receipts
  • Improved cash flow with quicker customer settlement

The speed and accuracy of invoicing and processing sales transactions dictates how rapidly you will be paid. If there are large volumes of transactions, the accuracy with which the invoice and subsequent payment is processed is often an issue. Our experience and processes provide effective solutions, serving as an extension of your business.

Accounts Payable

Efficient accounts payable services are essential for your cash flow and for maintaining good relations with your suppliers. Accounts payable management is one of the core competencies. Our outsourced accounts payable services include…

  • Document Services – This service helps to manage paper-based account payable documents. It involves scanning, document storage and retrieval.
  • Transaction Processing – We have unique accounts payable procedures and accounts payable software that enable us to process electronic invoice formats and perform data entry of various paper-based payables transactions.
  • Disbursement Services – We support accounts payable processes such as electronic payment processing and check printing and disbursement.

Accounts payable benefits with Southern Oklahoma Business Services include…

  • Centralized supplier invoice control
  • Purchase order and invoice matching
  • Approved account payment listings
  • Automated account payments to suppliers using BACS
  • Supplier statement reconciliation
  • Released management time to focus on core activities

Southern Oklahoma have excellence  and experience gained through working closely with diverse industries such as healthcare, marketing, retail, manufacturing, automotive, pharmaceutical, construction, media and entertainment so that we are able to assist you with the day-to-day tasks associated with your accounting needs

Financial Statement

Constant changes in financial accounting standards make financial statement preparation, analysis and footnote disclosure preparation a highly technical and time consuming task. We provide well-organized financial statement analysis and preparation to ensure that your small business accounting operation is efficient and successful. Our aim is to prepare financial statement for our clients to make their business processes easier and to make their business advantageous.  Whether you are in need of a personal financial statement, a business financial statement or an audited and consolidated financial statement preparation analysis, we are here to help you.

Financial statement preparation and analysis includes…

  • Trail Balance
  • Profit and Loss Account
  • Balance Sheet
  • Cash Flow

Financial statement preparation of yearly and quarterly balance sheets and accounts in the statutory formats or calculation of fixed asset and depreciation, no matter your financial statement preparation services requirements, we have the experience to ensure that your financial statements are prepared as per the regulations, government policies, IRS guidelines or financial accounting standards applicable to your business and location.

General Ledger

Southern Oklahoma Business Services general ledger accounting and reconciliation includes…

  • Adjust for prepayments and accruals
  • Process asset purchase, disposal and depreciation journals
  • Process stock movement and adjustment journals
  • Process payroll journals
  • Process lease, purchase, loan and dividend journals
  • Review all general ledger accounts and correct any posting errors
  • Reconcile all balance sheet control accounts
  • Provide copies of all journal entries made together with a detailed narrative of why the adjustment was made

General ledger accounting and reconciliation benefits with Southern Oklahoma Business Services include…

  • Generates the information required to manage your business
  • Enables lenders and investors to see accurate and complete books
  • Provides an accurate picture of your organization’s income
  • Eliminates the possibility of being exposed to fines and penalties