Financial accounting can be completed as frequently as a client prefers, whether monthly, quarterly, or annually. Transactions recorded from a firm's source documents culminate in preparation of the traditional financial statements,a balance sheet and an income statement. Source documents used may include:

• Bank Statements
• Cancelled Checks
• Invoices
• Receipts
• Disbursement Summaries
• Payroll Service Summary Reports

AccompTax uses an Excel spreadsheet format to record transactions. This simplified procedure saves time, and therefore saves the client fees. It also allows easy accessibility by the client, since an individual worksheet can be e-mailed, faxed, or mailed for review. E-mailing allows a recipient to view the output utilizing software found on most personal computers.

Some businesses record their transactions in application programs such as QuickBooks. Summary reports from these systems can also be used as a beginning, complemented with the appropriate adjustments mandated by current financial accounting standards.