Book a Consultation
Home
Services
Bookkeeping Monthly bookkeeping Quarterly bookkeeping Annual bookkeeping Catch-up and cleanup Bank reconciliation only Financial statement preparation QuickBooks Online setup QuickBooks cleanup Accounting software setup Accounting and financial reporting Monthly financial reporting package Cash flow analysis and forecasting Budget versus actual reporting Inventory tracking CFO and advisory Fractional CFO services Business financial planning Industry-specific accounting Nonprofit and 501(c)(3) Real estate investor bookkeeping Healthcare and medical practices Dental practice accounting E-commerce accounting Construction accounting Trust and estate accounting
Industries
Financial services Online retail Real estate investors Real estate investor bookkeeping E-commerce accounting Healthcare and medical practices Dental practice accounting Construction accounting Nonprofit and 501(c)(3) Trust and estate accounting
About Contact Book a Consultation

Home  /  Bookkeeping  /  Financial statement preparation

Statements a lender will take seriously.

Profit and loss, balance sheet, and cash flow prepared properly from closed books, formatted for whoever is going to read them.

Financial statement preparation for Cedar Park, TX businesses

A report exported straight out of accounting software is not a financial statement. It is a data dump with whatever coding errors the file contains, presented in the software vendor default layout.

Statement preparation is the step between the ledger and the reader. The period gets closed and proved, balances get verified, presentation gets built for the audience, and the numbers get reviewed by someone who has read a lot of financial statements.

  • Profit and loss with real structure

    Revenue separated by stream where it matters, cost of sales split from operating expense, and margins that can actually be compared period to period.

  • A balance sheet that has been proved

    Fixed assets and accumulated depreciation, loan principal agreed to the lender schedule, equity movements traced, and payroll liabilities cleared.

  • Cash flow shown honestly

    The bridge from profit to cash, which is the number owners are usually surprised by and lenders always look for.

  • Comparatives and notes

    Prior period alongside, plus notes on anything a reader would otherwise ask about, such as an unusual one-off or a change in accounting treatment.

Who is going to read them

The audience determines the format. Preparing one generic set for every purpose is how statements end up serving nobody.

A bank or an SBA lender

They want a proved balance sheet, clean debt schedules, and a defensible cash flow picture. Presentation and consistency matter more than most owners expect.

A partner, investor, or board

They want to see trend and direction, with the drivers separated out so the discussion is about the business rather than about the numbers.

Your outside tax partner

They want a reconciled trial balance and a general ledger they can work from directly, which reduces what they have to bill you to clean up.

From ledger to finished statements

  • 1

    The period is closed and proved

    No statement gets prepared from an open period. Reconciliation and balance sheet verification come first, always.

  • 2

    Presentation is built for the reader

    Grouping, subtotals, and the level of detail chosen for whoever has asked, rather than the software default.

  • 3

    Review by a CGMA

    Tim reviews every set before it leaves. Two decades of reading corporate financials is largely about noticing what does not look right.

  • 4

    Delivered with a walkthrough

    You get the statements plus a plain-language explanation, so you can answer questions about them without calling us.

Statements for lenders across the Austin metro

Businesses in Cedar Park, TX, Leander, TX, Round Rock, TX, and Austin, TX most often need prepared statements when they are approaching a bank, refinancing, or bringing in a partner. We prepare the same statements for San Diego County clients working with California lenders. These are prepared statements from closed books. Audit and formal assurance work sits with an independent firm licensed to perform it, and we will point you to one if a lender specifically requires it.

What owners ask about prepared statements

  • Are these audited financial statements?

    No. These are prepared statements built from closed and reconciled books. Audits and reviews are assurance engagements that have to be performed by an independent firm licensed for that work, and we will tell you plainly if that is what your lender is asking for.

  • How long does preparation take?

    If your books are current, a few business days. If the period still needs closing or the balance sheet has never been proved, that work comes first and gets scoped separately.

  • Can you prepare statements for a year already gone?

    Yes. Prior periods get closed and proved first, and we will flag anything we had to assume in the notes rather than leaving it invisible.

  • Will you talk to my lender?

    If you want us to. Being able to explain how a figure was arrived at, directly and without hedging, usually shortens the conversation considerably.

Related reporting work

Monthly financial reporting package

The recurring management version, built for running the business.

Read about it →

Cash flow analysis and forecasting

The forward-looking companion to a historic statement.

Read about it →

Monthly bookkeeping

The closed books that statements are built from.

Read about it →

Back to the full bookkeeping overview, or see every service in one place.

Need statements someone else has to accept?

Book a consultation and tell us who is going to read them. We will build for that audience.

Book a Consultation

Prefer to write first? Send us a message.