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Understanding Your Business Numbers: What You Get with Fireside Tax Flat Fee Accounting

    What We Provide to Accounting Clients

    At Fireside Tax, we help small business owners make sense of their finances by providing clear, reliable accounting reports—delivered on a monthly or quarterly basis.

    Most of our clients choose quarterly reporting, but monthly reports are available for businesses that need closer tracking.

    In addition to our reports, many clients use QuickBooks Online (We also have other software available). As long as reconciliation is current, you can log in anytime to review your financials at your convenience.

      Reports You Receive

      Whether monthly or quarterly, you’ll receive core financial statements that help you understand how your business is performing:

      1. Profit and Loss Statement (P&L)

      • Shows your income and expenses for the period

      • Helps you see whether you’re making or losing money

      • Useful for spotting trends or unexpected costs

      2. Balance Sheet

      • A snapshot of your business’s financial position at a specific point in time

      • Lists assets (what you own), liabilities (what you owe), and equity (what’s left)

      • Helps you measure financial strength

      3. Statement of Cash Flows (available on request)

      • Shows how cash moves in and out of your business

      • Helps identify if you’re profitable but still low on cash

      How to Use These Reports

      You don’t need to be an accountant to use your financials. Here’s a simple example:

      Scenario: Planning a Business Move After Q3

      Let’s say your Q3 balance sheet shows that:

      • You have $30,000 in cash

      • You’ve paid off most of your short-term debts

      • Your P&L shows steady profits over the last two quarters

      Decision: You may feel ready to hire a part-time employee or invest in new equipment. The balance sheet gives you confidence that you have the cash and low debt, and the profit trends support your decision.

      Common Misconception: Accountants don’t make the decisions for you, they present the most accurate information to you so that you the business owner can make an informed decision!

      Why This Matters

      When you understand your reports—even at a basic level—you gain control over your business. You’ll know when to grow, when to save, and when to adjust.

      Our goal is to not only give you accurate numbers, but also help you use them to make smart decisions. If you’re not sure what to look at, we’re here to walk you through it.