As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter we'll do the following things for you...
These tasks form the solid foundation of your small business accounting system. Remember, if you can't measure it, you can't manage it!
We will enter your vendor bills and prepare checks for your review and release. We will prepare annual 1099 reports.
Having our QuickBooks ProAdvisors prepare your accounts payable allows you to...
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Accounts Receivable
We will prepare your customer invoices for your review and release. We will records all customer receipts and credits to the appropriate invoices.
Having our QuickBooks ProAdvisors prepare your accounts receivable allows you to...
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Payroll Processing and Payroll Tax Reports
We will set up your QuickBooks payroll system and process you payroll for you. With QuickBooks payroll subscriptions you will have accurate tax tables, tax forms, and can track workers compensation costs.
We will prepare your payroll using your time sheets, time cards, etc. As per your schedule, we will prepare tax deposits to federal and state agencies. Each quarter, we will prepare your payroll reports for your federal and state agencies. Annually, we will prepare you W-2 forms and reports for your federal and state agencies.
Having our QuickBooks ProAdvisors prepare your payroll and reports allows you to...
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Sales Tax Reports
We will set up your sales tax items to track the taxes collected for each of your taxing agencies. We will prepare reports to those agences as per your schedule, for your review and release.
Having our QuickBooks ProAdvisors prepare your sales tax reports allows you to...
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Bank Reconciliation
We will reconcile your bank account(s) each month and prepare a reconciliation report.
Having our QuickBooks ProAdvisors 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. 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 or erroneous transactions, you can relieve your firm of responsibility for the shortfall and transfer the risk to the bank.
- 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
We will generate an income statement each month for your reivew. This report, 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.
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
We will generate a Balance Sheet for you each month. This report 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.
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
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.
By utilizing Sepulvado Consulting's accounting services and QuickBooks' fully integrated software solution, your general ledger will be maintained accurately as to our services. We will enter your tax accountants adjusting journal entries provided by you to complete your general ledger.
Sepulvado Consulting is not in the business of income tax preparation and accordingly, we do not calulate income taxes, depreciation, or other tax return information.
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