Our team of accounting professionals produces financial statements and reports following best practices for both profit and non-profit oriented businesses. Your financial reports – Income Statements, Balance Sheets, Statements of Cash Flow, Accounts Receivable Agings – are prepared accurately and on time. We see our role in the financial reporting process as an opportunity to help your financial data speak to you and inform your decision making. We want to provide you with constructive solutions for optimizing your profitability and efficiency. Well organized financial records ensure that your daily operations are efficient and  conducted as effectively as possible. This is why our firm offers a full range of cost effective accounting services. We perform a full range of financial management services on an ongoing basis:
  • Set up of accounting systems for new businesses or businesses converting from spreadsheet record keeping
  • Account keeping (monthly / quarterly / annual)
  • Monthly, quarterly and end-of-year reporting
  • Thorough review and analysis of bookkeeping processes
  • Adjusting and closing entries
  • Financial statement analysis and projections
 We work with the accounting software that best suits your needs – QuickBooks, Xero and many others. We work with a wide variety of original source documents, depending on your business, and seek to streamline work flow. Our goal is to have financial reports to you on a timely basis, and we seek to have all accounts reconciled and all transactions categorized by no later than the 15th of the following month. This way, you’ll have up-to-date financial reports when you need them.

As a business owner, you need to stay focused on the company’s daily operations to keep your company running. Yet doing so leaves little time for you to stay on top on your finances. The Profit Line changes all that. We provide secured outsourced bookkeeping services that free you to focus on your business, while we take care of your finances. You’ll make better, more informed business decisions when you work with Profit Line. Our bookkeeping service will organize and record your transactions according to type and by account. We catch any missing transactions or errors, and perform the double-entry bookkeeping your business needs to maintain accurate books, recording debits and credits correctly, even with extensive business ledger accounts. In addition, we offer service packages that integrate the software and tools you already work with on a daily basis. Our qualified bookkeepers, with years of both financial and technical bookkeeping experience, can set up a quick and painless system for your small business, and can help you to better understand bookkeeping software – QuickBooks or other. No need for an in-house bookkeeper or accounting department. We can digitally restructure a bookkeeping system that works for you. Whether you need to organize your financial documents or need ongoing bookkeeping, our hands–on approach will provide you with the one-on-one updates you need.  We’ll make sure you’re up to date and informed of your company’s finances.

Companies wanting to save time and money on their accounting processes, without sacrificing accuracy and productivity, can do both by simply outsourcing the entire accounting process to Profit Line. The Profit Line is dedicated to providing small to medium sized businesses with outsourced accounting services tailored to their needs. By taking the paperwork out of your hands, we let you focus on growing your business. We offer full transparency and keep you informed about your finances with accurately compiled monthly financial statements. Because we use the latest accounting software, we can even easily export your data into Excel or work with any financial format you need.  Ongoing support, confidentiality, security, and collaboration are our calling cards.  As such, we’ll provide full support for any financial data or statements we send. Moreover, we foster a close relationship with each and every one of our customers to make sure  they understand everything going on behind the numbers. You can reach us at anytime with any questions. We’re here to help!

We know that the financial management that goes on behind the scenes is critical to your organization’s success and its ability to grow and prosper. Customer invoicing, accounts receivable follow-up, billable expense tracking, accounts payable management – if these processes are not correctly and efficiently performed, your organization will not be able to do its best. Great organizations need strong back office solutions to succeed. We know this, and work with you to provide the customized back office solutions your organization needs.

We provide secured outsourced bookkeeping services that free you to focus on your business, while we take care of your finances. You’ll make better, more informed business decisions when you work with Profit Line.


The Accounts Payable account captures all expenses incurred by a business, but not yet paid. It’s a current liability account, meaning that it captures expenses that are due within the coming year, and lives on the Balance Sheet. The expenses captured in the Accounts Payable account are typically  owed to the organization’s vendors and service providers, and are typically due on specific dates, or within specific time periods. When the Accounts Payable account is correctly maintained the organization knows how much it will owe, and when it will be owed, and can therefore best manage its cash flow.Accounts Payable account transactions are  double-sided transactions. In Accrual accounting, the expense is booked to the related expense account at the time the expense is incurred, or when the bill is received. Until the expense is paid, it remains in the Accounts Payable account. At Profit Line, our job is to make sure our customers know what’s going on financially, how much they owe their vendors and service providers, and when it will need to be paid. If volume warrants, we introduce best in class 3rd party software to help manage Accounts Payable, reducing labor and increasing overall efficiency in managing this account.

The Accounts Receivable account captures all income generated by a business, but not yet received from its customers. It’s a Current Asset account, meaning that it captures income that has been earned and is owed to it within the coming year, and lives on the Balance Sheet. The income captured in the Accounts Receivable account is owed to the organization by its customers, on terms that have been pre-agreed and are stipulated in the Customer Invoice. When the Accounts Receivable account is correctly maintained the organization knows how much it is owed owe, and when it can expect to be paid, and can therefore best manage its cash flow. Accounts Receivable account transactions are  double-sided transactions. In Accrual accounting, the income is booked to the related income/ revenue account at the time the income is earned, often when the customer invoice is generated. Until the customer invoice is paid, it remains in the Accounts Receivable account. Managing Accounts Receivable is a critical function for any business, including following up on outstanding and overdue invoices, and having a collection process in place when needed. At Profit Line, our job is to make sure our customers’ Accounts Receivable account is complete and accurate, so they know exactly how much they are owed and when they can expect to be paid. We generate regular, often weekly Accounts Receivable Aging reports so businesses can stay on top of this critical account. When needed we provide follow-up services, with reminders and collection notices for overdue customer invoices.

The invoice is a detailed document, issued by a seller of goods or services, to their buyer,  where the particulars of the transactions and related costs are clearly listed. A company must often generate an invoice to each of its customers as a necessary step in getting paid for the goods or services they provided. In addition, invoices must be generated in order for the organization to be reimbursed for any billable expenses that it has incurred, often including the associated receipts. Some customers require invoices to be formatted in customized ways in order to be paid. Other customers require that invoices be submitted via payment portals. Whilst non profit organizations rarely deal with customer invoicing, for-profit businesses must issue their invoices in an accurate and timely way in order to ensure their cash flow and the success of the business. Depending on the organization’s invoicing needs, invoices can be generated directly from the accounting software or using invoice or industry specific software, with the related data synced to the accounting software. We understand the critical importance of accurate and timely customer invoicing to an organization’s success.

When running a business, it’s easy for financial transactions to accumulate unchecked. Over a single month, if not handled or recorded properly, the company’s accounts can quickly get out of balance and discrepancies grow over time. Preventing financial and cashflow issues from cropping up is not as easy as it sounds. Reconciling bank, credit card and other external account data can be tedious and time-consuming. Discrepancies in reconciliations can be due by any number of issues, such as outstanding checks, collection of service charges, or interest payments. Reconciling data on both your accounts and your financial statements requires knowledge, diligence and detailed record tracking. In some cases it requires significant investigation. We understand. That’s why, as a core part of our services to small and medium businesses, we include bank, credit card, payroll, and all other external account  reconciliations.  Our outsourced accounting services use the latest financial tools to provide you with an advanced, yet cost effective solution to resolve any discrepancies between your books and your account statements, highlighting errors when they arise. We also keep real-time track of all outstanding checks and deposits in transit. We’ll electronically adjust your account balances, ensuring that all accounts are accurate and up to date. Don’t let accounting errors slow your business down when The Profit Line can help. 

Budgets and forecasts provide a prediction of your company’s future financial results. As a financial management tool they are designed to help guide your company to financial growth and revenue, however they typically include financial assumptions that may not prove, over time, to be accurate. As a result the company may fall short of, or exceed projected financial targets. Understanding why this happens is important to maximizing your company’s growth. This begins with Budget to Actual Reports. When prepared accurately, they can provide a detailed overview and comparison of revenues and expenditures. If you have trouble making sense of your company’s budget and finances, The Profit Line can help. We offer Budget to Actual Report preparation services. Our accountants can generate a real-time Budget to Actual Report that can give you a precise look at where your company stands financially. We only work with the latest accounting software tools available  which means your report is always calculated with current standards and business trends in mind. Once we prepare your report, we’ll review it with you to help you understand where and why those financial variances are occurring. We’ll sit down with you and discuss where adjustments can be made to your overall financial strategy.  Our experienced accountants will work with you to make realistic financial decisions based on calculations,  analyses, and facts, not imaginary numbers.


Our mission is to support entrepreneurs, innovators, idealists and their dreams. We build best in class back office solutions to support the success and growth of their organizations.

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Accounting


We provide full service accounting departments to our customers.

Technology


We work with cloud based and traditional desktop accounting software, optimizing the integration of your systems to maximize efficiency.

People


Our team of expert accounting professionals wants to champion your success.

Feel Confident


Keeping your books in top shape is one thing. Understanding the financial reports they generate is another.

We provide secured outsourced bookkeeping services that free you to focus on your business, while we take care of your finances. You’ll make better, more informed business decisions when you work with Profit Line.


In addition to our many services, we also help small and medium businesses in New York manage their payroll accounting needs.Payroll processes can be very demanding and complex, from calculating employee gross and take home pay, to calculating overtime, and deductions for items like health insurance, and more.Our services can improve your performance and simplify your payroll process management, leaving you time to focus on high-value initiatives. The system and payroll tools we use can adapts to your firm size, industry, and unique business needs without losing any accuracy in the calculation or the data.Every aspect of payroll management will be efficiently taken care of including: 
  • Employee benefits (holidays, leave)
  • Payroll deductions and contributions
  • Tax statements
  • Worker’s compensation forms
  • Salaries and paychecks
  • Everything else
 All payroll services are electronically processed, encrypted, and sent to you over a secured network. You’ll have unlimited access to all employee payroll data and on-going support from dedicated bookkeepers.  Call us now to discuss your needs and find out how we can help.

In addition to our outsourced accounting solutions, we provide organizations with outsourced Human Resource Management solutions. These services include: 
  • Helping businesses choose the right payroll and benefits providers
  • Onboarding new employees to ensure compliance with various government requirements
  • Ensuring payroll and benefits accounts are set up and maintained correctly
  • Working with the payroll and benefits providers to resolve issues
  • Reconciling all payroll and benefits accounts on a monthly basis
  • Ensuring payroll and benefits entries are correctly recorded