BOOKKEEPING SERVICES OVERVIEW

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Accounts Payable Management:

• Receive and review vendor invoices.
• Verify accuracy and ensure proper authorization for payment.
• Record transactions in the accounting system.
• Schedule and process payments in a timely manner.
• Reconcile accounts payable ledger to ensure accuracy.

Accounts Receivable Management:

• Generate and send out invoices to clients.
• Track and follow up on outstanding invoices.
• Record payments received and apply them to appropriate invoices.
• Monitor aging reports to identify overdue accounts.
• Initiate collection efforts when necessary.

Bank Reconciliations:

• Compare transactions recorded in the accounting system with bank statements.
• Identify and investigate discrepancies.
• Adjust accounting records as needed to reconcile differences.
• Ensure accuracy of cash balances and financial reporting.

Payroll Processing:

• Calculate employee wages, taxes, and deductions accurately.
• Process payroll on a scheduled basis (weekly, bi-weekly, or monthly).
• Process FEDERAL & STATE Payroll tax payments every pay period  
• Remit payroll taxes to the appropriate authorities. File quarterly and annual payroll tax returns
• Maintain payroll records and ensure compliance with regulations.
• Complete HR Resources if applicable.

General Ledger Maintenance:

• Maintain accurate and up-to-date general ledger accounts.
• Record all financial transactions, including adjusting entries and accruals.
• Reconcile accounts to ensure accuracy and completeness.
• Provide support for audits and financial reviews.

Financial Reporting:

• Prepare monthly, quarterly, and annual financial statements (e.g., income statement, balance sheet, cash flow statement).
• Analyze financial data to provide insights into business performance.
• Customize reports to meet specific client needs.
• Present financial information to stakeholders in a clear and understandable manner.

• Organize financial records and documents for tax filings.
• Work closely with tax agents to ensure accurate reporting.
• Provide necessary information and schedules for tax returns.
• Stay updated on tax regulations to maximize deductions and minimize liabilities.

• Offer guidance on financial matters and best practices.
• Identify areas for improvement and efficiency in bookkeeping processes.
• Assist with budgeting, forecasting, and cash flow management.
• Address client questions and concerns regarding their financial status.

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