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Aspire Bookkeeping and Property Management
Bookkeeping Services
Bookkeeping is the foundation of all financial management. It involves recording, organizing, and maintaining accurate financial records so a business can track performance, meet tax obligations, and make informed decisions.
Core bookkeeping tasks
• Recording income and expenses
• Managing accounts payable and receivable
• Reconciling bank and credit card accounts
• Tracking assets, liabilities, and equity
• Maintaining financial statements (balance sheet, income statement, cash flow)
• Supporting tax preparation with accurate records
Why bookkeeping matters
• Ensures compliance with IRS and state requirements
• Prevents financial errors and fraud
• Provides clarity for budgeting and forecasting
• Supports smooth payroll and tax filing
Accounts Receivable and Accounts Payable
A bookkeeper plays a central role in managing both accounts receivable (AR) and accounts payable (AP)—ensuring smooth cash flow, accurate records, and timely transactions. Here's how they support each area:
Accounts Receivable (AR) – Money Coming In
• Invoice Generation
Create and send invoices to customers for goods or services provided.
• Payment Tracking
Monitor incoming payments, apply them to the correct invoices, and reconcile deposits.
• Collections Management
Follow up on overdue accounts, send reminders, and escalate delinquent payments when necessary.
• Customer Communication
Resolve billing disputes, answer questions, and maintain positive relationships.
• Credit Oversight
Evaluate customer creditworthiness, set credit limits, and monitor risk exposure.
• Reporting
Prepare aging reports, forecast expected cash inflows, and calculate bad debt allowances.
Accounts Payable (AP) – Money Going Out
• Invoice Processing
Receive, verify, and code vendor invoices to the correct general ledger accounts.
• Payment Scheduling
Ensure bills are paid on time via checks, ACH, or wire transfers—avoiding late fees or service disruptions.
• Vendor Management
Maintain accurate vendor records, resolve discrepancies, and respond to payment inquiries.
• Reconciliation
Match vendor statements with internal records to prevent overpayments or duplicate payments.
• Compliance & Controls
Adhere to tax regulations (e.g., 1099 reporting), company policies, and fraud prevention protocols.
• Reporting & Analysis
Track outstanding payables, analyze spending patterns, and assist with audits
Tax Preparation and Budgeting
Does your stack of tax receipts look like this? We can play a vital role in both tax preparation and budgeting, helping your business stay organized, compliant, and financially healthy.
Tax Preparation Support
• Maintain Clean, Accurate Records
Track income, expenses, and categorize transactions properly, ensuring your books are audit-ready and tax-compliant.
• Generate Financial Statements
Monthly profit & loss statements, balance sheets, and cash flow reports provide the foundation for accurate tax filings.
• Coordinate with Tax Professionals
Prepare and deliver organized financial data to CPAs or tax preparers, streamlining the filing process and reducing errors.
• Support Estimated Tax Payments
Help calculate quarterly estimated taxes and track payments, avoiding penalties and surprises.
• Respond to IRS or State Notices
Some services include assistance with tax notices, helping clarify discrepancies or provide documentation.
Budgeting & Financial Planning
• Track Spending Trends
Monthly reconciliations and variance notes highlight changes in spending, helping you adjust your budget proactively.
• Forecast Cash Flow
Analyze historical data to project future income and expenses, supporting smarter financial decisions.
• Set and Monitor Budgets
Help create realistic budgets based on actual performance and monitor adherence throughout the year.
• Identify Cost-Saving Opportunities
Flag areas for potential savings or efficiency improvements.