- Below is a full menu of all the bookkeeping services we offer. Some plans may not offer all the services listed below.
Bookkeeping Services Include:
- Catch-up on your bookkeeping. Set-Up Your New QuickBooks Account today!! Why QuickBooks?
- Interested in QuickBooks Training. Lean whats and hows of:
- Clean-Up General Ledger using journal entries
- Enter data into QuickBooks and reconcile against bank statements and credit card statements.
- Research transactions to appropriately categorize transactions
- Apply payments received from customers in merchant accounts to the appropriate customer invoices
- Categorize transactions into standard chart of accounts
- Produce tax reports for CPA’s
- Create customer invoices based on products sold and time sheets for services delivered
- Create vendor bills based on products purchased and services used
- Pay vendor bills using Bank Web Site or QuickBooks
- Financial Statements
- Income Statement or Profit and Loss Reports
- Balance Sheet or Net Worth Reports
- Bank reconciliation reports
- Credit Card reconciliation reports
- Merchant account reconciliation reports
- Accounts Payable Aging reports
- Vendor unpaid bills reports
- Accounts Receivable Aging reports
- Customer Balance reports
- Employee pay-stub reports
- Payroll reports
- Sales and Use Tax reports and more
- Interested in Payroll Services?
- File and Pay State and Federal Payroll Taxes
- Generate Quarterly & Year-End Payroll Tax Reports
- File Annual 1099s and W2s with IRS and State agencies
- QuickBooks Admin Support
1. Avoid IRS Audits
In 20% of small businesses were audited by the Internal Revenue, furthermore, this may just be the tip of the iceberg as the 2017 Federal Budget announced an additional $100 million toward IRS compliance programs. Therefore, more money is available to audit you
Want to avoid an audit? First, do your books. Messy records and books are one of the audit triggers that could get you audited.
2. Limit the Pain of an Audit
Secondly, in the unfortunate case that you are audited, if your books are in good order, the IRS will be able to finish quicker letting you get back to work sooner.
Moreover, this is important because on average a company loses 61.6 hours complying with IRS auditors.
3. Dodge IRS penalties and sanctions
For instance, the IRS advises that if you don’t keep adequate records or don’t provide them access to your records. You may then face penalties and sanction if you fail to do so.
4. Make Sure You’re Not Missing Deductions
Sloppy bookkeeping may lead to overlooking legitimate tax deductions. As a result, the IRS may disallow your deductions, unless you have the required paperwork.
In fact, the rule of thumb in any tax assessment is the IRS is right and you are wrong. Unless, your records prove otherwise.
5. Save Time When You File
We all know the usual tax season routine. When the time comes to file your year-end taxes or submit your GST/HST remittance, you do the last minute scramble to find all that paperwork. So, why not avoid this headache by recording transactions as you go.
6. Keep a Clear Picture of your Company’s Financial Health
If you don’t have an accurate handle on your business income, expenses, etc. How do you know if you’re actually making money? Monitoring cash in and cash out can help you make better decisions — before it’s too late.
Besides, when it comes time to sell your business or secure capital to grow your business, being able to thoroughly document your past performance will help your company’s valuation.