Bookkeeping, Accounting and CFO Services

More Than Taxes. When most of us think of a CPA, we tend to think of the tax preparer who is incredibly busy from January to April and relaxes the rest of the year. Contrary to popular belief, CPAs actually have a lot going on during the rest of the year, and accounting requires more than just few hours of attention during tax season.

At Terranova, we specialize in much more than taxes. Our bookkeeping, accounting, and CFO services are incredibly valuable for businesses of all sizes and in all industries. But before you hire us for accounting professional services, learn how Terranova’s expertise can benefit your business.

Trust the Experts

In our more than 75 years of experience, we have serviced the bookkeeping and accounting needs for small businesses, large multi-state firms and everything in between. When you work with us, you know you are in good hands because of our combined decades of experience and proven dedication to our clients.

Bookkeeping and Accounting Services

Bookkeeping and accounting are terms that are often used interchangeably; it is a common misconception that organizing receipts, paying bills and invoices, and preparing spreadsheets is all it takes.

However, hiring an accountant is not the same as hiring a bookkeeper.

Bookkeeping Services

Bookkeeping is the act of keeping your business’s financial records. This is an ongoing process, not a task that can be accomplished in a single afternoon once year. Recording your finances, storing them in an easy and logical way, and retrieving them easily takes organization and work.

That’s why outsourcing a bookkeeper is such a good solution for so many companies. Our bookkeeping services save our clients time and money every day by providing the full spectrum of bookkeeping services, without the costs of a full-time employee or bookkeeping department.

The two main bookkeeping services we offer our clients are financial record keeping and filing.

    Financial Records:

    Using a financial software, we record and reconcile your financial transactions. This includes bank transactions, credit card transactions, accounts receivable and payable. We can help you record all your financial records in an accounting software so that you will be able to generate relevant and timely financial reports; this, in turn, will allow you manage your business more effectively on a day to day basis.


    By scanning and organizing your documents, we create an organized system of document storage. Say goodbye to stacks of file boxes full of dusty documents. We take the hard copies of your documents and turn them into digital files, and store them in an organized way, allowing you to retrieve what you want, when you want.

Accounting Services

Using the client’s bookkeeping information, we can create and maintain a full set of books, which can be used to prepare financial statements or a tax return. A full set of books will give an accurate representation of your business’s operating and financial activity during a specific period of time. This includes:

  • Trial balance
  • Balance sheet
  • Income statement

Additionally, our experts can analyze your data to propose and discuss any necessary adjustments or corrective journal entries to correctly report your income, expenses, assets and liabilities.

Outsourced CFO

A CFO, or Chief Financial Officer, is an amazing asset for a company. Dealing with a company’s past, present, and future, the CFO is responsible for a wide array of tasks. Reporting on past performance, overseeing the present financial health of the company, and making investments in the future are all big jobs, and a CFO does them all.

Many small and mid-size companies do not require a full-time CFO. In those cases, outsourcing CFO duties to experienced and qualified CPAs at Terranova & Associates, LLC is the best option because we have the additional expertise necessary for the job. We understand the rules and regulations and can provide invaluable assistance and insight necessary to manage human resources, cash flow and debt service, as well as provide assistance with financial analysis such as return on investment analysis, debt analysis as well as budgeting and forecasting.

Companies that do not require a full-time CFO—but still wish to remain financially strong—can benefit from our outsources CFO services, including:

  • Month end close
  • Ongoing business consulting
  • Cash flow management
  • Risk management
  • Many more

Bookkeeping, accounting, and CFO services are core parts of the services that we provide to our clients. Create a custom package of the services your company needs and let the experts help with some of the financial aspects of owning your business.

Contact us to learn more about bookkeeping, accounting, outsourced CFO, and other services.