- Main Street, Sauteurs, St. Patrick, Grenada
- Monday - Friday 9:00am - 5:00pm AST
Our Services
With expertise honed over 15 years, we specialize in offering tailored solutions to meet the unique needs of businesses in Grenada. From strategic tax management to seamless payroll processing and robust internal control assessments, Elite Finance is committed to empowering businesses on their journey to financial success.
Explore our range of services, each crafted to elevate your financial management to new heights.
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up to date.
Each month or quarter, we will do the following things:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Clean up your general ledger
Having us reconcile your account each month allows you to:
- Identify lost checks, lost deposits, and unauthorized transactions.
- Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
- Know how your business is doing by ensuring all accounts are reconciled and properly accounted for on your financial statement.
- Manage your cash more effectively. Proper management of funds not only saves money, but it also makes money for you.
- Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank.
Maintaining a Clean General Ledger
The general ledger is the core of a company’s financial records. These records constitute the central “books” of a system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books. Having us review your general ledger system each month allows us to find any discrepancies, such as double billings or any unrecorded payments. Then, we will fix the differences so your books are always accurate and kept in the proper manner.
Our Comprehensive Payroll Service takes care of all the payroll processing.
Payroll is prepared, and transactions are done via direct deposit. Preparation of National Insurance Contribution schedule for submission and payment. Executing NIS online services on behalf of clients. Tax schedule and preparations for submission and payment. User-friendly and easy-to-understand monthly, quarterly, and annual payroll tax reports—detailed reports on your employee’s vacation, sick, and personal days accruals. Your payroll records are maintained.
After-the-Fact-Payroll Services
We will take your manually prepared payroll records and other payroll information and post this information to our data files so you get the following:
- Worry-free Free PAYE submission and Personal Income Tax report.
- User-friendly and easy-to-understand monthly, quarterly, and annual payroll tax reports.
- Detailed reports on your employee’s vacation, sick days, and personal days accruals.
- Your payroll records are maintained.
At Elite Finance, we understand the critical role that effective tax management plays in maintaining financial health. Our suite of services is meticulously designed to provide you with professional assistance in every aspect of taxation, ensuring compliance, optimization, and resolution.
Tax Planning
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax-saving strategies to maximize your after-tax income.
Tax Preparation & Filing
Elite Finance is a registered E-user with the Government of Grenada Inland Revenue (Tax Division) since 2019. We prepare your tax documents based on the financials presented if we are not the preparers of the same. After preparing the documents, we will proceed to do online submission and payment if necessary.
Tax Problems
We are here to help you resolve your tax problems and end the misery that the Inland Revenue can put you through. We pride ourselves on being very efficient, affordable, and extremely discreet.
Setting up QuickBooks Online correctly is crucial for accurate financial information, especially when transitioning from manual accounting mid-year. Elite Finance’s team efficiently handles this complex task, addressing critical questions about accounting methods, chart of accounts, and handling beginning balances.
Our QuickBooks setup service includes the following:
- Evaluation of your software and accounting needs.
- Recommendations for software and hardware requirements.
- Installation and setup of the entire accounting package, covering payroll, accounts receivable, inventory, and accounts payable.
- Determination of your QuickBooks starting date.
- Loading chart of accounts and balances as of the starting date.
- Preparation of a list of items sold, including services, inventory, and more.
- Entry of outstanding accounts receivable and accounts payable details.
- Entry of ending statement bank balances as of the starting date.
- Printing a trial balance and comparing it to the old system.
- Entry of transactions since the starting date.
- Virtual or in-house training for company accounting employees.
QuickBooks Tune-up
Essential for tax preparation or financial reviews, our QuickBooks Professional Advisor conducts two on-site visits to clean up and organize your bookkeeping system. It’s an innovative and affordable way to gain control over your books, ensuring readiness for various financial scenarios
Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach to financing. Our proposals are likely to succeed because they are created from the lender’s perspective.
Our winning loan proposals come complete with:
- Executive Summary: We concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it is needed.
- Pro-forma Cash Budgets and Financial Statements: We use your data and underlying assumptions to prepare information your banker can easily read and buy into.
- Owners’ Personal Financial Statements: We make copies of the bank’s last 3 years of personal tax returns and identify the collateral pledged as security for the loan.
- Representation: We help substantiate your financial needs/position
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you:
- Prepare an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources if needed.
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
- Select the right accounting software by evaluating your budget, needs and hardware.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required state and local licenses and permits.
- Prepare and file your application for your National Insurance Scheme Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on your first employee.
Our Services
With expertise honed over 15 years, we specialize in offering tailored solutions to meet the unique needs of businesses in Grenada. From strategic tax management to seamless payroll processing and robust internal control assessments, Elite Finance is committed to empowering businesses on their journey to financial success.
Explore our range of services, each crafted to elevate your financial management to new heights.
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up to date.
Each month or quarter, we will do the following things:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Clean up your general ledger
Having us reconcile your account each month allows you to:
- Identify lost checks, lost deposits, and unauthorized wire transactions.
- Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
- Know how your business is doing by ensuring all accounts are reconciled and properly accounted for on your financial statement.
- Manage your cash more effectively. Proper management of funds not only saves money, but it also makes money for you.
- Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent, or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank.
Maintaining a Clean General Ledger
The general ledger is the core of a company’s financial records. These records constitute the central “books” of a system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books. Having us review your general ledger system each month allows us to find any discrepancies, such as double billings or any unrecorded payments. Then, we will fix the differences so your books are always accurate and kept in the proper manner.
Our Comprehensive Payroll Service takes care of all the payroll processing.
Payroll is prepared, and transactions are done via direct deposit. Preparation of National Insurance Contribution schedule for submission and payment. Executing NIS online services on behalf of clients. Tax schedule and preparations for submission and payment. User-friendly and easy-to-understand monthly, quarterly, and annual payroll tax reports—detailed reports on your employee’s vacation, sick, and personal days accruals. Your payroll records are maintained.
After-the-Fact-Payroll Services
We will take your manually prepared payroll records and other payroll information and post this information to our data files so you get the following:
- Worry-free Free PAYE submission and Personal Income Tax report.
- User-friendly and easy-to-understand monthly, quarterly, and annual payroll tax reports.
- Detailed reports on your employee’s vacation, sick days, and personal days accruals.
- Your payroll records are maintained.
A cash crisis can be emotionally devastating and even kill businesses.
Our cash management service allows you to. know when, where, and how your cash needs will occur. know what the best sources are for meeting your additional cash needs. be prepared to meet these needs when they occur by keeping good relationships with bankers and other creditors.
The starting point for avoiding a cash crisis is to develop a cash flow projection. Develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash and long-term (annual, 3-5 year) cash flow projections to help develop the necessary capital strategy to meet the business’s needs. Prepare historical cash flow statements to help understand where all the money went.
Creating an accurate cash flow projection is just one of our many cash management services.
You also get:
- Help to obtain an appropriate line of credit
- Cash collection acceleration techniques
- Proven effective collection policies
- Proven effective payment policies
- Help obtain the maximum rate of return on your idle cash
At Elite Finance, we understand the critical role that effective tax management plays in maintaining financial health. Our suite of services is meticulously designed to provide you with professional assistance in every aspect of taxation, ensuring compliance, optimization, and resolution.
Tax Planning
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax-saving strategies to maximize your after-tax income.
Tax Preparation
Elite Finance is a registered E-user with the Government of Grenada Inland Revenue (Tax Division) since 2019. We prepare your tax documents based on the financials presented if we are not the preparers of the same. After preparing the documents, we will proceed to do online submission and payment if necessary.
Tax Problems
We are here to help you resolve your tax problems and end the misery that the Inland Revenue can put you through. We pride ourselves on being very efficient, affordable, and extremely discreet.
Setting up QuickBooks Online correctly is crucial for accurate financial information, especially when transitioning from manual accounting mid-year. Elite Finance’s team efficiently handles this complex task, addressing critical questions about accounting methods, chart of accounts, and handling beginning balances.
Our QuickBooks setup service includes the following:
- Evaluation of your software and accounting needs.
- Recommendations for software and hardware requirements.
- Installation and setup of the entire accounting package, covering payroll, accounts receivable, inventory, and accounts payable.
- Determination of your QuickBooks starting date.
- Loading chart of accounts and balances as of the starting date.
- Preparation of a list of items sold, including services, inventory, and more.
- Entry of outstanding accounts receivable and accounts payable details.
- Entry of ending statement bank balances as of the starting date.
- Printing a trial balance and comparing it to the old system.
- Entry of transactions since the starting date.
- Virtual or in-house training for company accounting employees.
For a QuickBooks Tune-up, essential for tax preparation or financial reviews, our QuickBooks Professional Advisor conducts two on-site visits to clean up and organize your bookkeeping system. It’s an innovative and affordable way to gain control over your books, ensuring readiness for various financial scenarios.
As businesses experience growth, they frequently encounter a juncture where expert financial guidance becomes imperative, yet allocating resources for a full-time CFO or controller remains a challenge.
Our Part-Time CFO service introduces a seasoned financial manager into your operational framework, collaborating closely with you to steer your business toward its goals of triumph. This indispensable service extends to you the wealth of experience and expertise you need, all while mitigating the financial strain associated with a full-time commitment. With our Part-Time CFO services, you gain unparalleled support at a fraction of the typical cost.
Here is what you get with our Part-Time CFO services:
- More time for core business priorities, like new services and customer engagement.
- Enhanced financial insight, minimizing surprises and providing better money control.
- Improved decision-making with clear visibility into your business’s hard numbers.
- Access to a professional sounding board for tough decisions and business plan clarification.
- Assurance that a skilled professional oversees, protects, and enhances your business’s financial health.
- Establishment of robust financial controls to reduce theft and boost profits.
- Training and management of your accounting staff.
- Enhanced quality and timeliness of financial information.
- Expertise in budget preparation, monitoring, and cash management.
- Effective liaison with bankers, attorneys, vendors, and insurance agents.
- Development of tailored accounting procedure manuals.
- Analysis of equipment purchases, expansions, and custom-designed collection policies and procedures.
Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach to financing. Our proposals are likely to succeed because they are created from the lender’s perspective.
Our winning loan proposals come complete with:
- Executive Summary: We concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it is needed.
- Pro-forma Cash Budgets and Financial Statements: We use your data and underlying assumptions to prepare information your banker can easily read and buy into.
- Owners’ Personal Financial Statements: We make copies of the bank’s last 3 years of personal tax returns and identify the collateral pledged as security for the loan.
- Representation: We help substantiate your financial needs/position
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you:
- Prepare an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources if needed.
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
- Select the right accounting software by evaluating your budget, needs and hardware.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required state and local licenses and permits.
- Prepare and file your application for your National Insurance Scheme Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on your first employee.
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