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Bookkeeping Services
A business owner needs an accurate set of books in order to understand the profitability of a business, control costs, manage cash flow, forecast results, minimize taxes, and avoid issues with the IRS or other government agencies. Furthermore, when you pursue a lending arrangement, a current balance sheet and income statement are requisite items for loan processing.
We work closely with business owners to ensure their books are set up and maintained properly so that all business operations can be easily managed, calculated, reported, or presented upon request.
Our services include:
- Training and set up of books and records
- Updating books and records for activity
- Reconciling bank, credit card, and loan statements
- Providing insight into operational efficiencies and pitfalls
- Reviewing financial reports and educating business owners on ways to capitalize and/or strategize on financial performance
- Business and income tax preparation
- Financial statement preparation
- Sales tax reporting
- Property tax
- 1099 & 1096 preparation
- Reconciling payroll and payroll taxes
Gross Receipts & Expenditures Tracking
As a small business owner, you are responsible for managing your gross receipts and expenditures. Using a business bank account and credit cards are excellent ways to control and manage the financial transactions in your business. Once we obtain your bank, credit card, and/or loan statements, we use QuickBooks (desktop and online) to ensure your income and expense transactions are accurately captured and properly reported.
Monthly Bookkeeping Procedures
We strive for monthly “close-the-books” procedures where you know within 15-30 days what your financial position and operating results are. This way, you won’t have to scramble to play catch-up when the end of the year approaches and you’re unsure of how your profits will affect tax liability or when a lender or business partner requests information.