Business Tax Services
Federal Tax ID
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
Bookkeeping Services
Each month we’ll do the following things for you…
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Generate a profit & loss statement
- Maintain a clean general ledger
- Provide unlimited consultations
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.
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.
- Detect and prevent embezzlement of funds from within your company.
- Know how your business is doing? You can’t really know unless 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, it 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. This reason to reconcile alone should be enough. Crime exists.
- Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
Profit and Loss
The Profit & Loss statement is a listing of what has happened or transpired during a specific time period, unlike a balance sheet which is a snapshot of a company on a particular date and time. The items that you must be able to provide to construct a P&L statement are:
- Net Sales
- Cost of Goods Sold
- Selling and Administrative Expenses
- Other Income and Other Expense
An income statement allows you to…
- Track revenues and expenses so that you can determine the operating performance of your business.
- Determine what areas of your business are over-budget or under-budget.
- Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
- Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
- Determine your income tax liability.
Balance Sheet
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.
A balance sheet helps you:
- quickly get a handle on the financial strength and capabilities of your business
- identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively
- determine if your business is in a position to expand
- determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses
- determine if you need to take immediate steps to bolster cash reserves
- determine if your business has been slowing down payables to forestall an inevitable cash shortage
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.
Maintaining a Clean General Ledger
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your 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 hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.
Unlimited Consultations
Payroll Services
Designed to be simple, straightforward, and intuitive, this powerful web-based payroll application makes it simple to run your payroll anywhere, anytime and from any Internet connection or Smartphone. There’s no software or installation required – all you need is your secure User ID and password.
We make it easy to pay your employees
- Choose from three ways to pay your employees – by traditional paycheck, direct deposit or pay card
- Choose to enter payroll data by calling us, submitting via the Internet, or using our mobile payroll app
We help you meet compliance challenges
- Your federal, state and local taxes are calculated, deposited and filed in compliance with the latest regulations
- New hires are reported as required by each state’s unique laws
- The automatic poster update service ensures that you have the latest federal and state labor law posters for your workplace
- The answers to your personnel and HR questions are just a phone call away with our HR Helpdesk service
Included Features
- Online Payroll Access & Smartphone App for iPhone, Droid, and Blackberry
- Full-Liability State & Federal Tax Filing
- Free UPS Delivery
- 24/7 Client Service Team
- Electronic Reports
- Pay Options
- Full Service Direct Deposit
- Check Signing/Stuffing
- VISA PayCard
- TotalPay & ADPCheck
- Labor Law Poster Compliance Update Service
- Garnishment Payment Service
- General Ledger Interface
- State Unemployment Insurance Management
- HR Features
- State & Federal Resources
- HR Checkups
- Tip of the Week
- Quarterly Newsletter
- HR Dictionary
Optional Features
- Worker’s Compensation Insurance
- Timeclocks & Attendance Solutions
- HR Help Desk
- HR Dictionary
- Employee File Document Vault
- Background Pre-Screening
- Employee Handbook Wizard
- Job Description Wizard
- HR Tracking
- Performance
- Education
- HR Forms & Documents
- HR Compliance Updates & Training