| Accounting and Bookkeeping |
| We establish an organizational profile of accounts in a general ledger and then use this profile
to tally all financial activity. The general ledger becomes the destination for all data from other
accounting sub-systems. All financial transactions are recorded in the general ledger.
Standard general ledger reports prepared include: |
- Income Statement
- Balance Sheet or Position Statement
- Check Reconciliation
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| Free Tax Service for Business Start-ups |
| Tax service for start-ups is designed to ensure that the new business entity complies with all
tax regulations while maximizing income to the owner. |
| Payroll Sub-System |
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We process weekly, bi-weekly, semi-monthly, and monthly payrolls for hourly and/or salaried personnel.
We account for payroll expense, deductions, and taxes, using this data to prepare monthly,
quarterly, and annual reports. Payroll expenses are entered into the general ledger system for your
organization. Reports prepared include:
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- Payroll register
- Federal 941 – withholding quarterly tax return
- W-2 – annual statement of employee earnings
- Federal 940 – Annual unemployment tax return
- Federal 945 – Annual return of withheld federal income taxes
- All state counterparts as needed
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| Budgeting |
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For budgeting, we use historical income statements and owner's forecast of income and expenses to
estimate profit levels for future time periods to predict when the business should be expanding or
contracting to adapt to economic conditions.
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| Cash Management |
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For cash management, we use past history and owner's forecast of cash receipts and payments over
specific time periods to predict when shortfalls might occur, and whether the organization has
sufficient cash flows to achieve specific goals. Cash management is like budgeting, except for the fact
that it does not consider non-cash expense items like depreciation and does consider cash items that
cannot be classified as income or expense.
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