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Small Business Accounting

Small Business Accounting in Methuen for Maximum Efficiency

As thrilling and rewarding as it is to own and operate a successful business, it’s an endeavor that takes a great deal of work. Many entrepreneurs work an average of 50 to 60 hours or more per week.

As a business owner, your time is your most precious resource, and Armen G. Derderian, CPA, M. Tax., CGMA understands this. By enlisting our Methuen firm to handle your company’s accounting functions, you leave them in capable hands and free yourself up to focus on the many other needs of your business and its growth.


Bookkeeping is the backbone of a healthy business. Your general ledger is the record of every transaction and every dollar that your company processes. An accurate, detailed ledger is the basis for many of the accounting functions that keep your business healthy and inform you of your financial health.


Hiring employees to assist in the operations of your business is necessary for a healthy economy. However, hiring employees comes with a variety of regulations and requirements that must be adhered to.

Armen G. Derderian, CPA, M. Tax., CGMA can ensure that you remain compliant with all the necessary paperwork, payroll taxes, and withholdings, all while seeing to it that your employees are paid in an accurate and timely manner.

Call Us: (978) 794-9200 Get Your Consultation

CFO Services

A chief financial officer is a vital role within a company, as their primary responsibility is to allocate resources intelligently and foster the business’s growth. Unfortunately, a CFO’s six-figure salary can be too much to justify for many new and growing businesses.

Armen G. Derderian, CPA, M. Tax., CGMA can fill the role as a part-time CFO, providing many of the same functions and benefits at a fraction of the cost.

New Business Formation

Running a business may be hard, but for first-time entrepreneurs, starting a company from scratch can seem like a labyrinthine accomplishment. Let Armen G. Derderian, CPA, M. Tax., CGMA guide you through the ins and outs of new business formation and help you avoid the many pitfalls that a new business might experience.

Get the Help You Need for Your Business to Thrive

Why learn as you go when you can learn from an experienced professional? Contact Armen G. Derderian, CPA, M. Tax., CGMA in Methuen today and find out how an outsourced CPA and save you time and money, leaving you free to focus on what’s most important—your business.

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.

Each month or quarter we'll do the following things for you...

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you:

  • quickly get a handle on the financial strength and capabilities of your business
  • identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively
  • determine if your business is in a position to expand
  • determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses
  • determine if you need to take immediate steps to bolster cash reserves
  • determine if your business has been slowing down payables to forestall an inevitable cash shortage

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

If you'd like to receive a free consultation on our Small Business Accounting Service, please complete this form.

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