Review General Ledger – Overhaul your Chart of Accounts.
The mechanics of doing this in QuickBooks are fairly uncomplicated, but changing this critical list which is the backbone of your company file, requires solid knowledge of accounting and QuickBooks. With basic knowledge of both, one can easily add, delete or edit the accounts.
However, to get your desired result, one needs to know which accounts and subaccounts will have impact on your income taxes as well as in your financial reporting for your business operation. They must be structured accordingly, because you want to make sure that any deletion, addition or editing of chart of accounts is done correctly.
For these reasons, we ask that you consult with us if you think your Chart of Accounts could use an overhaul. Our early involvement will be much more economical for you than if we have to come in down the road when your accounts have become dangerously tangled.
We have the expertise in QuickBooks & Accounting for an affordable price. We can help you set this task, RIGHT from the very first time.
Tax returns & Estimated taxes.
Tax return preparation is for your previous year while estimated tax is for your current and future returns. There’s no magical formula for estimating how much income tax you’ll owe when all of your income and expenses have not yet been tallied.
We can make this an ongoing task easier for you by creating monthly or quarterly financial reports for your business operation. If you’re self-employed, you might want to open a low-fee checking account that will serve solely as your tax fund. You can avoid a pleasant surprise at tax prep time, or you may have to dip into other savings to be compliant. We all know that you don’t want this to happen to any one of us.
Outsource roles / Understand your numbers:
You might have run reports such as Trial Balance, Statement of Cash Flows, etc. in QuickBooks and been puzzled on how to use them. No Problem! It often takes an Accountant level individual to understand what they mean for your business.
You can build your own reports using QuickBooks with the already existing resources you have on hand. We mentioned that we’re happy to create customized reports for your needs and analyze your most critical financial indicators for your business operation. It is always not easy to run a business and at the same time be an accountant for your operation.
Let us know if you want to use our service, and we will be glad to step-in for you, while you focus on running your business.
Make the most of your staff – Training in QuickBooks:
Appropriate training for your staff can help you ‘Nip’ many of the problems right in the ‘bud’. Training in QuickBooks, Bookkeeping, & Accounting are essential for your day today business operation.
We have experienced QuickBooks experts and a Certified Management Accountant on board. Investing in your staff training is important and we will be glad to share our skills, training, and experience with your esteemed business organization.
Accounting & Business Solutions, LLC.
