BOOKKEEPING & PAYROLL SERVICES

As an outsourced accounting solution for small businesses, we pride ourselves in taking the accounting function completely off an owner’s plate. That process starts with a foundation of sound financials. It is essential that bookkeeping is performed accurately and in a timely fashion as it is the driver for actionable financial information as well as the basis of tax filings. Errors in the books can be very costly, from poor decision making based on faulty data to overpaying taxes. Therein lies the benefit of having a CPA handle your bookkeeping and taxes!

QuickBooks Online is our accounting platform of choice as it is the clear cut industry leader and is robust enough to handle 100% of the accounting needs of virtually all small businesses. It allows for integration with a multitude of apps (e.g., time tracking, expense reporting, online bill pay, etc.) that provide for a more efficient accounting system, which increases accuracy and saves a tremendous amount of time and money. We do, however, work with clients using QuickBooks Desktop as well, as it is sometimes a better fit for businesses requiring certain specific features.

Our bookkeeping and accounting services include:

  • Capturing and properly coding all bank and credit card transactions

  • Bank and credit card reconciliation

  • Accounts receivable

  • Accounts payable

  • Payroll processing and tax filing

  • Job costing

  • Inventory tracking

  • Fixed asset management

  • Sales tax accounting and filing

  • Financial reporting

  • Management reporting

  • 1099 filings

Bookkeeping Clean-up Project

To clean up your financial records, I will perform a systematic review and correction process to ensure accuracy, completeness, and readiness for reporting or tax filing.

Scope of work

  • Gather and organize source documents: bank and credit card statements, invoices, receipts, payroll records, loan documents, prior bookkeeping files, and any existing reconciliations.

  • Chart of accounts cleanup: review and standardize account names, consolidate or create accounts as needed, correct account classifications (income, COGS, operating expenses, assets, liabilities, equity).

  • Transaction review and categorization: scan all transactions for the period(s) provided, correct misclassifications, assign proper memo/description details, and add missing transactions or receipts.

  • Bank and credit card reconciliations: reconcile accounts to statements, identify and clear outstanding items, and resolve discrepancies.

  • Duplicate and missing items: remove duplicates, locate or reconstruct missing receipts using statements and client-supplied info, and document adjustments.

  • Accruals and adjusting entries: record necessary accruals, prepayments, depreciation, amortization, bad debt, and any other period-end adjustments.

  • Payroll and tax itemization: verify payroll entries, payroll tax liabilities, and employer tax filings; reconcile payroll liabilities and deposits.

  • Intercompany and owner transactions: separate personal and business transactions, document owner draws, loans, and contributions.

  • Trial balance and error correction: produce a corrected trial balance, investigate imbalances, and post corrective journal entries.

  • Financial statement preparation and review: prepare updated profit & loss, balance sheet, and cash flow statements for the cleaned period(s); provide notes for any significant adjustments.

Deliverables

  • Cleaned and reconciled accounting file (QuickBooks, Xero, or other specified system) with dated reconciliations.

  • Corrected trial balance and final general ledger.

  • Financial statements (P&L, balance sheet, cash flow) for the cleaned period(s).

  • Adjustment summary report listing journal entries, reasons, and supporting documents.

  • Recommendations checklist for bookkeeping practices and internal controls.