Financial Reporting Services for US Businesses Accurate Statements, On Time
Financial reporting services that give you reviewed monthly statements, clear management reports and lender ready numbers, delivered on the same date every month.
- Three core statementsP&L, balance sheet, cash flow
- Reviewed every monthBefore anything is sent
- Lender readyCovenant and investor packs
Big Accountants provides financial reporting services to US businesses that need accurate, consistent financial statements every month. We close the books, prepare the income statement, balance sheet and statement of cash flows, and add the management reports and commentary that make the numbers useful.
Good financial reporting is consistent. The same accounts, the same definitions and the same delivery date every month, so trends are real and decisions rest on numbers you can defend to a lender, investor or tax authority.
- Income statement with comparisons
- Balance sheet with reconciled balances
- Statement of cash flows
- Budget vs actual with commentary
- KPI summary on one page
Why Reliable Financial Reporting Matters
Banks, investors and buyers judge a business on its financial statements. Federal Reserve survey data shows how often US firms go to them for money.
What Our Financial Reporting Services Include
Choose the reports you need. Scope and delivery dates are written into your engagement letter.
Income statement
Revenue, costs and profit for the month, quarter and year to date.
Balance sheet
Assets, liabilities and equity, with every account reconciled.
Statement of cash flows
Where cash came from and where it went, by activity.
Budget vs actual
Results against budget, with material variances explained.
Class and location reporting
Profit by department, location, product line or project.
Multi entity consolidation
Combined statements across related companies, with intercompany eliminated.
Lender and covenant reporting
Packages and covenant calculations in the format your bank expects.
Investor and board packs
Concise monthly or quarterly reporting for owners, investors and boards.
Cash vs Accrual vs GAAP Financial Reporting
The basis of your financial statements changes what they show. We will recommend the right one for your size, lenders and tax position.
| Factor | Cash basis | Accrual basis | GAAP basis |
|---|---|---|---|
| When income is recorded | When cash is received | When it is earned | When it is earned, under FASB standards |
| When expenses are recorded | When cash is paid | When they are incurred | When they are incurred, with full accruals |
| Shows unpaid bills and invoices | No | Yes | Yes |
| Typical users | Very small businesses | Growing businesses and most lenders | Audited companies and investors |
| Our role | Prepare and reconcile | Prepare, accrue and review | Prepare to GAAP for your auditor |
The IRS explains how cash and accrual methods work for tax in Publication 538, Accounting Periods and Methods. US GAAP is set by the Financial Accounting Standards Board. Your tax preparer can confirm the right method for your return.
A Monthly Financial Reporting Calendar
A typical calendar. Your delivery date is agreed at onboarding and kept every month.
- Days 1 to 5
Close
Transactions recorded and every bank, card and loan account reconciled.
- Days 6 to 7
Adjust
Accruals, prepaids and cutoff entries prepared and posted.
- Days 8 to 9
Review
A second accountant reviews the statements and the variances.
- Day 10
Deliver
Your reporting pack, with commentary, sent on the agreed date.
Need a forecast as well as the actuals? Add a virtual CFO for budgets, cash forecasts and a monthly review.
Financial Reporting Ratios Every Owner Should Watch
Defined the same way every month, so the trend is reliable.
Gross margin
How much of each sales dollar is left after direct costs.
(Revenue - Cost of sales) / Revenue
Net profit margin
How much of each sales dollar becomes profit.
Net income / Revenue
Current ratio
Whether short term assets cover short term debts.
Current assets / Current liabilities
Debt to equity
How much the business relies on borrowing.
Total liabilities / Total equity
Days sales outstanding
How long customers take to pay.
Accounts receivable / Credit sales x Days
Operating cash flow
Cash generated by the core business.
From the statement of cash flows
Signs Your Financial Reporting Needs an Upgrade
If two or more of these sound familiar, reviewed monthly reporting will change how you run the business.
- Reports arrive late or on a different date each month
- Numbers change after you have already used them
- You only see a profit and loss, never a balance sheet
- Your bank has asked for statements you cannot produce quickly
- You cannot see profit by product, location or customer
- Nobody explains why this month is different from last
Financial Reporting Services Pricing
Price depends on the number of entities and accounts, the reports you need, the accounting basis and the delivery date. Every quote is fixed in writing after a free call, and our pricing is competitive. See how our pricing models work.
Fixed monthly fee
Monthly reporting pack
Close, statements and commentary for an agreed monthly fee.
Hourly
Ad hoc reports
Lender requests, board questions and one off analysis.
Per task
Defined projects
A year of restated statements or a consolidation build at a set price.
Industries and Software We Support
Our reporting team works with US businesses in these sectors, inside the platforms they already use.
- Ecommerce
- Healthcare
- Retail
- Wholesale
- Manufacturing
- Restaurants
- Construction and contractors
- Real estate and property management
- Accounting firms
- QuickBooks Online
- QuickBooks Desktop
- Xero
- Zoho Books
More Ways We Strengthen Your Numbers
Controller services
Close ownership, review and internal controls.
Virtual CFO
Forecasts, budgets and strategic decisions.
Business intelligence
Live dashboards built on your reported numbers.
Outsourced bookkeeping
The reconciled books behind every report.
See all our accounting and bookkeeping services for US businesses.
Financial Reporting Services FAQs
What are financial reporting services?
Financial reporting services prepare a business’s financial statements and management reports on a regular schedule. They typically include the income statement, balance sheet and statement of cash flows, plus budget comparisons, KPIs and commentary.
What are the three main financial statements?
The income statement shows revenue, costs and profit for a period. The balance sheet shows what the business owns and owes at a point in time. The statement of cash flows shows how cash moved through operating, investing and financing activities.
Should my business use cash or accrual reporting?
Cash basis is simpler and suits very small businesses. Accrual basis shows unpaid bills and invoices and gives a truer picture of profit, which most lenders prefer. We recommend a basis after reviewing your size, lenders and tax position with your tax preparer.
Can you prepare GAAP financial statements?
Yes. We prepare accrual statements to US GAAP for clients whose lenders, investors or auditors require them, and provide the supporting schedules your auditor or reviewer needs.
How much do financial reporting services cost?
Cost depends on the number of entities, the reports you need, the accounting basis and the delivery date. We offer a competitive fixed monthly fee, hourly billing or per task pricing, quoted in writing after a free call.
When will I receive my monthly reports?
Most clients receive their reporting pack within ten business days of month end. Your exact delivery date is agreed at onboarding.
Can you consolidate several companies?
Yes. We prepare consolidated statements across related entities, eliminate intercompany balances and keep a clear record of every adjustment.
Do you prepare reports for lenders and investors?
Yes. We prepare lender packages, covenant calculations and investor or board reporting in the format each one expects.
Get Financial Statements You Can Stand Behind
Tell us which reports you need and when. We will recommend a reporting pack and send a clear written quote.