• Initial Accounting Support
  To support your complete internal accounting needs, we can assist you with accounts receivable entry, accounts payable entry, payroll, cash receipts, and cash disbursement functions until an accounting position is filled by your company.
   
• Implementation
  Once we have completed the initial setup, the next step is to implement and review all entries and financial statements to assure accuracy and effectiveness. This will include:
  • Reviewing financial statements monthly
  • Reviewing journal entries prepared by bookkeeper
  • Checking accuracy of sales and use tax applications
  • Reviewing payroll tax reports
  • Continual hands-on training for the bookkeeper
     
• Monthly Accounting Services
  Once your accounting function is in-house, we will assist you monthly with:
  • Set up a new chart of accounts
  • Prepare your general ledger
  • Prepare compiled monthly financial statements
    • Reconciling bank statements on a monthly basis
    • Processing payroll journal entries
    • Handling depreciation records
  • Reconcile bank statements on a monthly basis
  • Prepare payroll for approximately XX employees on a bi-weekly basis
  • Prepare quarterly and annual payroll tax reports
  • Prepare your employees’ W-2s annually
     
• Ongoing Accounting Service
  It is important that your accounting system captures all the information you need, not only for your monthly financial statements, but to help you make decisions about your business on a daily basis. We will process your general ledger and provide you with financial statements with reports that flag inconsistencies and alert you to areas needing immediate attention. In addition, you should be able to use your financial and accounting information to help you make decisions about your annual budgets.

  We will:

  • Coordinate chart of account modifications with the software company
  • Record opening journal entries
  • Adjust inventory to actual physical count
  • Change financial statements format
  • Set up monthly journal entries
  • Depreciation
  • Accruals/prepaid
  • Bank adjustments
  • Review the computer-generated financial statements
  • Analyze sales and use tax applications to verify accuracy
  • Provide hands-on training of the bookkeeper when necessary

  It is our understanding that you will:

  • Prepare and submit sales tax reports
  • Submit to us on a monthly basis:
    • Cash receipts summaries
    • Copies of checks written and coded properly to the general ledger accounts
    • Information from the banks regarding credit card discounts
     
  Within one week after receipt of your information, we will deliver your financial statements. As a part of your report, you will have a report comparing the financial statement to the prior year (as historical data becomes available) and comparing to the budget (if a budget has been established). We encourage all our clients to establish an annual budget; if you do not currently have a budget, we would welcome the opportunity to assist you in developing this important management tool. At least quarterly, we would like to meet with you to review the financial statements in detail.
   
• Check Writing
  In our discussion, you indicated that you were still considering a variety of services you would want your accounting firm to provide. For example, one service we discussed was check writing. We have helped select, install, and support an internal accounting system for a number of our clients, where we initially process the checks and overtime and later transfer check writing to the client once their internal staff is trained.
   
• Year-end Accounting Services
  At year-end, we will assist you with the year-end closing of your general ledger and prepare compiled year-end financial statements. We will also assist in the processing of year-end W-2s, annual payroll tax reports and corporate income tax returns.

Auditing services involve an inquiry of financial statements and giving our opinion, as independent certified public accountants, on the fairness of the presentation for the statement of the financial position and results of operations. We use a constructive approach in auditing. Our audit procedures familiarize us with a business's financial and administrative operations.

An audit is the highest level of attestation. The goal is to obtain an “unqualified opinion,” in which the CPA firm states that it believes the financial statements fairly represent the company’s financial position as of a specific date, and that the results of operations and cash flows for the preceding year conform to generally accepted accounting principles.