Skip to content
(832) 702-3325

Accounting › Statements

Financial statements you can read and trust.

Included in monthly bookkeeping: $550–$1,800/mo

A profit-and-loss statement, balance sheet, and cash-flow view, prepared from books reconciled to source and delivered owner-readable on a fixed monthly date. Statements that tie out — because the accounts underneath them do.

Management statements from reconciled books — CPA-ready. Not audit, review, or attestation (that's a CPA's role).

P&L · balance sheet · cash flow Built on reconciled books

Reviewed before delivery: reports go out only after the accounts behind them agree with their statements and every open question is listed for you. What the review checks.

P&L BALANCE SHEET CASH FLOW RECONCILED BOOKS — every account tied to source

Quick answer

Management statements and CPA-issued statements are different products. Ours are the monthly profit and loss, balance sheet and cash-flow report you run the business from, built on reconciled accounts. If a lender or regulator asks for a compilation, review or audit report, a CPA issues it, working from the same clean books.

Included in monthly bookkeeping ($550–$1,800 a month); your exact fee is scoped in writing. Statements come out of the monthly close, not a separate fee. What the published range includes.

Statements you can trust

A report is only as good as the books beneath it.

A profit-and-loss statement that looks tidy can still be wrong in every line if the accounts feeding it were never reconciled. That's why we treat statement preparation as the top of a stack, not a standalone export: first the accounts reconcile to source, then the monthly close runs, and only then are the statements drawn — so they tie out and mean what they say.

We keep them owner-readable: structured so you can find the answer to a real question — is my margin holding, where did cash go — without an accounting degree. New to reading a P&L? Our owner's guide walks it line by line.

When a statement raises a strategic question, that's where reporting advisory turns the numbers into a decision. The statements are the production layer; the advisory is the judgment on top.

Any financial statements we prepare are unaudited and unreviewed, are intended for internal management use, and provide no assurance.

Profit & loss

Income and expense by month, period, and category — the trend you can finally trust.

Balance sheet

What you own and owe at a point in time — real balances, not guessed ones, that actually balance.

Cash flow & custom views

How money actually moved, plus any operational view your business needs — delivered on a fixed date.

A table comparing management statements with a CPA's report: ours are the monthly profit and loss, balance sheet and cash-flow view prepared from reconciled books for internal management use, unaudited and unreviewed with no assurance; a compilation, review or audit report is issued by a CPA when a lender or regulator asks for one, working from the same clean books.
Figure data as a table
Management statements or a CPA's report: two different products
QuestionManagement statements (ours)Compilation, review or audit report
Who issues itEverholt & Co., from the monthly closeA CPA
What you getProfit and loss, balance sheet and a cash-flow view, every monthThe CPA's report on the statements
AssuranceNone: unaudited, unreviewed, for internal management useSet by the type of report the CPA issues
When you need itRunning the business month to monthWhen a lender or regulator asks for one
Built fromBooks reconciled to sourceThe same clean books
Both start from the same reconciled books, so when a lender does ask for a CPA's report, the work begins from numbers that already tie out.

Worked example · one month

Three statements for one month, and the checks that tie them together.

A specimen package for a small service business. Each lettered check below is run before the package is delivered; if any one fails, the statements don't go out.

Illustrative example — not client data. Assumptions stated.

Profit and loss, this month

Illustrative profit and loss for this month, line by line
LineThis month
Revenue$84,000
Cost of services($38,500)
Gross profit$45,500
Admin wages, rent, insurance, software and marketing($23,900)
Depreciation (D)($1,200)
Interest on the equipment loan (E)($450)
Net income (B)$19,950

Balance sheet, end of month

Illustrative balance sheet at the end of this month and last month
LineEnd of this monthEnd of last month
Cash, reconciled to the bank (C)$61,420$52,870
Accounts receivable$48,300$41,900
Prepaid insurance (D)$5,250$6,300
Equipment, net of depreciation (D)$57,600$58,800
Total assets (A)$172,570$159,870
Accounts payable$9,850$11,200
Payroll liabilities$4,380$4,380
Equipment loan (E)$38,200$39,000
Total liabilities$52,430$54,580
Owner's equity (B)$120,140$105,290

Cash-flow summary, this month

Illustrative cash-flow summary for this month, line by line
LineThis month
Net income$19,950
Add back depreciation, which moves no cash$1,200
Receivables grew($6,400)
Prepaid insurance used$1,050
Payables paid down($1,350)
Cash from operations$14,450
Loan principal repaid (E)($800)
Owner distributions (B)($5,100)
Change in cash (C)$8,550

The tie-out checks

  1. (A) The balance sheet balances. Total assets of $172,570 equal liabilities of $52,430 plus owner's equity of $120,140.
  2. (B) Profit reaches equity. Last month's equity of $105,290, plus net income of $19,950, less distributions of $5,100, gives $120,140.
  3. (C) Cash flow lands on the bank. Opening cash of $52,870 plus the $8,550 change is $61,420: the balance sheet's cash line and the reconciled bank balance.
  4. (D) Non-cash lines agree. Depreciation of $1,200 equals the drop in equipment, net; the $1,050 of insurance expense inside operating costs equals the drop in prepaid insurance.
  5. (E) Loan payments split correctly. The $800 of principal equals the fall in the loan balance and stays off the P&L; only the $450 of interest is an expense.

Assumptions:

  • A service business on accrual books, with one bank account, customer receivables and one equipment loan.
  • Management-use statements: unaudited, unreviewed, and carrying no assurance.
  • Whole dollars, invented for the example; no equipment was bought during the month.

The skipped statement

The balance sheet tells you what the P&L can't.

The profit-and-loss is the statement owners reach for first — it's the one that says "did I make money." But a profitable P&L can sit on top of a business that's quietly in trouble, and the balance sheet is where you'd see it. A few of the things it shows that the P&L never will:

Profit you've earned but haven't collected

A great month on the P&L can be money still sitting in accounts receivable. The balance sheet — and an A/R aging behind it — shows how much of your "profit" is actually in the bank versus owed to you, and how long it's been owed.

What you really owe

Debt, unpaid bills, sales tax and payroll liabilities you're holding for someone else — none of it shows on the P&L. The balance sheet is the only place you see whether the obligations stacking up behind the business are under control.

Whether the books are even sound

A balance sheet that doesn't balance, or that's full of "ask the accountant" and negative-balance oddities, is the fastest tell that the underlying books are broken. We use it as a first-look diagnostic before we trust anything the P&L says.

We prepare both, every month, and point out what each is telling you — because reading only the P&L is how a business gets surprised by a cash problem it was profitable right up until. New to the whole set? Our guide on how to read financial statements covers all three and how they tie out.

Financial statements FAQ

Your questions about the statements.

The three that run a business: a profit-and-loss statement (income statement) showing what you earned and spent, a balance sheet showing what you own and owe at a point in time, and a cash-flow view of how money actually moved. They're prepared from books reconciled to source and delivered owner-readable and CPA-ready on a fixed monthly date — plus any custom views your operations need.
No, and it matters to say so plainly. We prepare management-use financial statements from your reconciled books. An audit, a review, or a formal compilation with a CPA's report are attestation engagements that, by law, require a licensed CPA; we're not a CPA firm and don't perform them. What we do is keep the underlying books accurate and produce clean, reconciled statements — exactly what your CPA needs to perform one of those engagements efficiently, and a sound basis for the ordinary, non-attested reporting a lender or board asks for.
Statements stop tying out when the books underneath them aren't reconciled. A statement is only as trustworthy as the accounts it's built from — if the bank, credit-card, and loan accounts don't tie to their statements, the P&L and balance sheet inherit every error. We fix that at the source: reconcile every account, then build the statements on top, so the statements agree with the accounts and can be relied on. If the file is far gone, that starts as a cleanup.
Yes — that's the point of preparing them properly. Because the statements come from reconciled, documented books, your CPA can file or perform their engagement from them without rebuilding, and a lender or board can read them with confidence. We coordinate directly with your CPA at year-end so the handoff is clean.
It depends on how your business works and what your CPA advises for tax, but the short version: cash basis records income when money lands and expenses when they're paid — simple, and fine for many small service businesses. Accrual records income when it's earned and expenses when they're incurred, regardless of when cash moves — which gives a truer picture of profitability for businesses that invoice, carry inventory, or have timing gaps between doing the work and getting paid. Many owners want to manage on accrual to see real performance even if they file taxes on cash. We can prepare statements on either basis — and produce both — and we'll coordinate with your CPA on which basis your tax filing requires, since that determination is theirs.
Monthly, for any business making decisions on its numbers. A statement you see once a year at tax time is a history lesson; a statement in your hands by the 10th of the following month, once records are in, is a tool you can still act on — adjust pricing, catch a cost creeping up, plan around a slow season. We deliver reconciled statements every month as part of the close, which is the cadence that turns reporting from a compliance chore into something that actually changes decisions.

Part of accounting for an owner-run business and a fully outsourced finance function · the full offer.

Numbers that hold up

Get statements that tie out — every month.

We look at your books and scope a fixed monthly fee that includes reconciled statements you can read and your CPA can work from. Each set passes the documented review before you receive it.

Built on reconciled books Owner-readable & CPA-ready Fixed fee, in writing