Knowing the principles of accounting is not critical for business owners but possessing a basic understanding of financial statements is essential for making sound management decisions. This knowledge is crucial for:

  • Growing your business
  • Minimizing taxes
  • Identifying and eliminating non-profitable revenue streams or excessive expenses
  • Dealing with banks and lenders

HHL Group, Inc. provides accounting and bookkeeping services personalized to meet your specific needs, either remotely, on-site or at our office. Our diverse team of experienced accountants can work alongside your accounting team or as your outsourced accounting department. Available services:

  • Entering bank deposits
  • Outsourced bookkeeping functions
  • Writing checks and paying bills
  • Processing and recording payroll
  • Preparation of bank reconciliations
  • Closing and adjusting entries
  • Maintaining the chart of accounts
  • Preparation of monthly, quarterly, and annual management reports
  • Review of management reports with business owners or board members
  • Fixed asset reports – setup and maintenance

Financial Statement Preparation

All businesses need to know their assets and liabilities. Accurate financial statements reveal the financial position of your company. As business owners you must utilize your financial statements to:

  • Evaluate your business and compare performance to other periods
  • Report your financial performance and position to owners and investors
  • Keep your lender properly informed

At HHL Group, Inc., we understand the numbers that make your business run. We assist you in proactively managing your business. But preparing reports is only part of the service we offer. We want you to understand your financial position and help you find opportunities to make improvements. Our services include preparing and reviewing:

  • Balance sheets to show loan balances, assets, liabilities, receivables and other data
  • Profit and Loss Statements to help you understand what categories are generating profit and which expenses might be too excessive
  • Cash Flow Statements to show the flow of funds into and out of your business
  • Historical Comparisons within your business to assist in discovering areas for improvement

We can also help you with presenting financial data to management, board members or financial institutions.

Cash Flow Management

At HHL Group, Inc., we understand the significance of generating extra cash and preventing negative cash flow. Our cash flow forecasting will reflect all meaningful cash inflows relating to sales, loans, etc. Our analysis regarding the timing of payments to vendors, wages, loan repayments, tax payments, capital expenditures, etc. will make it easier to achieve your goals by having a solid grasp of how much cash your business should maintain at any given time. Key functions we perform include:

  • Financial forecasting
  • Creating and monitoring budgets
  • Assisting with banking relationships
  • Identifying capital needs

Finance Your Business

All businesses require cash to meet their daily operational requirements. Regardless of whether you are considering buying a business or are having difficulties managing cash flow, you must be able to answer three important questions:

  • How much cash does my business really need?
  • What type of capital should I seek?
  • How will I secure the cash?

At HHL Group, Inc., we can help you ascertain the amount of capital needed and explore a variety of funding alternatives. We can also assist you with securing the right financing relationships. Some options include conventional loans, venture capital, self-funding and special programs specifically designed for small or new business ventures. Our services include:

  • Assessing your business’ value for financing
  • Establishing how much capital is needed
  • Preparation of financial statements for lenders
  • Assisting with planning for fixed asset purchases
  • Introducing and maintaining a variety of banking relationships