Financial Statement Preparation in
Orlando, FL

In Orlando, FL, Shea Business Solutions prepares monthly financial statements for small businesses: a profit and loss statement and a balance sheet, built from accounts that have already been reconciled, by a QuickBooks Level 2 ProAdvisor. Reporting is included with monthly bookkeeping service, at a flat monthly price quoted before any work begins.

• A profit and loss statement showing what the business actually earned over the month.
• A balance sheet showing what it owns and what it owes as of the closing date.
• Bank and credit card reconciliations completed first, so the statements rest on numbers that match the bank.
• A plain-language note on anything unusual in the month, batched into one message rather than a drip of emails.
• No separate reporting fee. It comes with the monthly bookkeeping engagement.

Two documents, two different jobs. One covers a span of time, the other freezes a single date. Between them they answer most of what an owner, a lender or a tax preparer needs to ask about a small business.

What the P&L and the Balance Sheet Each Answer

Owners often treat the two reports as one thing called "the financials." They answer different questions, and knowing which one to open saves a lot of guessing.

	Profit & Loss	Balance Sheet
What it covers	A stretch of time: a month, a quarter, a year	One date, usually the last day of the month
What it reports	Revenue, cost of goods sold, expenses, and what is left	Assets, liabilities, and owner equity
The question it settles	Did the business make money over that period?	What does the business own and owe right now?
Where owners reach for it	Pricing work, timing a hire, catching a margin slip	Loan and lease applications, tracking debt and draws
What breaks it when books are messy	Income counted twice through undeposited funds	Account balances that do not match the bank statement

Why Reconciliation Comes Before Any Statement

A financial statement inherits every error sitting in the file underneath it. Run a P&L on books nobody reconciled and you get a confident-looking report built on guesses the bank feed made.

So the reconciliation happens first, every account against its actual statement, every month. That is where the problems surface: a charge imported twice from a double-connected feed, merchant fees buried inside a net point-of-sale deposit, personal spending sitting in an expense account, income parked in undeposited funds and counted a second time when the deposit cleared.

What Orlando Lenders and Landlords Usually Want to See

Banks rarely ask for one month. They ask for a run of consecutive monthly statements, generally alongside recent tax returns, and they read them for consistency as much as for the totals. A month that contradicts the three around it invites questions.

The balance sheet matters more here than owners expect. A lender wants to see what is already owed before deciding what else to lend, and a balance sheet that has never been reconciled tends to carry old loan balances that were paid off two years ago.

One case from the practice: a boutique fitness studio in Lake Nona could not get a bank loan approved to expand its space, because its financial statements were inaccurate. Rebuilding the chart of accounts, connecting the Mindbody booking software to QuickBooks Online, and putting monthly P&L and balance sheet reporting in place produced verified financials that supported a $75,000 expansion loan. Recurring membership revenue and lender-ready reporting are covered further on the gym and fitness bookkeeping page.

Prepared Statements, Not an Audit

Worth stating plainly, because the words get used loosely. These are management-use financial statements prepared from your books. They are not an audit and they are not a CPA review.

Shea Business Solutions is a bookkeeping, payroll and tax preparation practice run by Ryan Shea, a QuickBooks Level 2 ProAdvisor and Certified Payroll Specialist. It is not a CPA firm, and nothing produced here carries an accountant's assurance opinion.

For most small business purposes that distinction never comes up. A bank underwriting a working capital line, a landlord checking whether a tenant can cover a lease, an owner deciding whether the margins support another employee: all of them work from statements exactly like these. Where a lender or a contract specifically requires audited or CPA-reviewed financial statements, that is a separate engagement with a CPA firm, and you will hear that from us rather than a workaround.

How Orlando Owners Use the Monthly Numbers

Statements earn their keep when someone reads them. A few examples from work the practice has done around the metro.

A custom manufacturer in Orlando was tracking cost of goods sold inaccurately and carrying messy raw materials inventory in QuickBooks Online, which distorted every P&L that came out of the file. Restructuring the inventory setup and linking the job-costing software surfaced a $22,000 inventory valuation error and produced margin reporting per production run. The same territory is covered on the manufacturing bookkeeping page.

A local restaurant had tip allocation errors and had fallen six months behind. Once the historical records were reconstructed and weekly payroll was configured properly for its 15 employees, the food cost margins on the P&L became accurate for the first time. Card-heavy operations have their own reporting traps, which is why restaurant bookkeeping is handled as its own lane.

A commercial painting contractor came in two years behind on reconciliations with a state payroll audit approaching and personal spending mixed into the business accounts. Reconstructing 24 months of bookkeeping, separating the owner draws and correcting the payroll tax classifications produced tax-ready financials, and the audit closed with zero penalties and $14,500 in missed deductions recovered. Job costing and retainage get more attention on the construction bookkeeping page.

Cash Basis or Accrual: Which Version You Should Be Reading

QuickBooks will produce both from the same file, and owners are often handed one without being told which.

Cash basis records income when the money lands and expenses when they are paid. That suits a business collecting at the time of service, a gym billing memberships monthly or a shop taking payment at the counter.

Accrual records income when the work is earned and expenses when they are incurred, regardless of when cash moves. It fits any business that invoices and waits. A contractor reading cash-basis statements can look wildly profitable in a month where it simply collected on work finished back in the spring, then look broke the following month for no operational reason at all. Accrual keeps the revenue next to the costs that produced it.

If the Books Are Behind, the Statements Come Second

There is no honest way to produce a meaningful January statement from a file that stopped being maintained in March of last year. Getting current comes first.

That is a flat-quoted project on its own, covered on the catch-up bookkeeping page, and most owners arrive at it with a tax deadline or a loan application already on the calendar. Once the file is current, monthly reporting rolls forward with the flat-rate monthly bookkeeping engagement so it never piles up again. Owners starting from nothing at all begin with a QuickBooks setup so the chart of accounts matches how the business actually earns, which is what makes the reports readable later.

The wider picture of what monthly service covers sits on the Orlando bookkeeping services page. Shea Business Solutions is a BBB accredited business and Ryan holds his ProAdvisor certification through the Intuit QuickBooks ProAdvisor program.

Frequently Asked Questions