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Bookkeeping
Services

Bookkeeping Services can be a little tricky if you do not have the right company managing or helping you with your financial data.

Our company leads in this department and will help, assist and train at any level of partnership to put your finances on track.

Bookkeeping Services

For small, medium and large companies

Bookkeeping Services

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When understanding bookkeeping services in simple terms it’s all the financial data, analysis and structure that goes into a financially sound business.  Sometimes when a business is first set up, these protocols are sorely missed and the owner finds themselves in tax debt, financial data overload and unable to function as a complete business due to their books not being in order.  By having us on your team from the beginning we can negate this but, if you missed that boat, this one just arrived, so climb aboard.

So what are bookkeeping services? They are the nuts and bolts of any business or corporation and derive of these services:

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  1. Accounting Systems (software) required:

    1. Oracle Net Suite

    2. Quick Books

    3. Sage

    4. Thomson Reuters CS Professional Suite

    5. Great Plains

    6. Foundations

    7. DoorLoop

    8. And any other accounting system in which a client maybe using

  2. Bookkeeping (monthly)

  3. Financial Statement Analysis and Preparation (monthly)

  4. Financial Budget Preparation

  5. 1099 Misc./ 1099 NEC preparation and filings

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Bookkeeping Services Options:

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In order to perform Bookkeeping Services an Accounting System software is required, no Excel spreadsheet will be accepted, or any other tangible information without an Accounting system in place

Monthly Bookkeeping (single company or multi-companies

Monthly Bookkeeping (for 3 to 10 separate intercompany under 1 Parent company)

1099 Misc/Nec forms

Financial Statement Preparation

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FREQUENTLY ASKED QUESTIONS

 

What are bookkeeping services?  A service where your company data is on a software application in which all of your financial data is stored, which is operated by a CFO or Bookkeeper or the Owner of the company.

 

Is bookkeeping really important, can’t I just write whatever I want? Every government has their own financial accountability system, so in order to be a legitimate business there are certain rules that need to be followed.  Writing down your inflow and outflow of money is just one of them, but it’s the most important rule because it shows that you are a legally structured business. A bookkeeping system allows data to be easily access and documented, which includes history trends and correct categorizing which can not happen with Excel spreadsheet and less experienced bookkeepers.

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For example, where accounting goes wrong is when an un-knowledgeable bookkeeper put your investment capital deposit in the category of income. You have just paid taxes on funds which should have been categorized as a loan to the company. And this is just one example of wrong entries, which could cost you millions if not billions of dollars in capital taxed as income.

 

Why do I need financial data or what’s the importance of keeping financial records?  According to the Internal Revenue Service and Generally Accepted Accounting Principles (GAAP) all businesses are required by law to keep record of their financial data within an accounting structured system.

 

What is 1099 NEC or 1099 Misc.? In the tax year of 2020 the IRS implemented a new 1099 form for Non-employee compensation aka 1099 NEC. This form is used by companies to record monies paid to people who are not employees.  Likewise, the 1099 MISC is used to record all other payments like rental payments; other income, etc. Both forms are used to distinguish money flowing out of companies Accounts Payable.


 

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