Possibly. There are many programs that compile the incoming and outgoing resources of the new venture. A simple spreadsheet or accounting software can track this information. But be honest with yourself-is this something you want to take time away from the product or service that brings in the money? Will you consistently reconcile all accounts and statements to ensure all income and expenses are accounted for? If you answer no to either of these questions, then plan to partner with Business Alternatives. We will do as much, or as little, of the bookkeeping and accounting as you want us to.
Yes and No. We prepare monthly and quarterly returns, (Sales Tax and Payroll Tax, etc.) but do not prepare year end tax returns such as Form 1040. We do prepare W-2's and Form 1099's from your records after calendar year end reconciliations.
We do create from your bookkeeping and accounting records, the Financial Statements and reports needed by your CPA to prepare the year end income tax return.
Most likely! As part of the accounting services provided, all bank accounts will be reconciled, balances on loans, payroll taxes, and liability accounts are confirmed to the financial institute they are held with. This reduces, or eliminates, the amount of time the CPA will need to confirm the Balance Sheet, Income and Expense Statement, and other Financial Reports are correct.