Bookkeeping & Payroll Services
As a business owner, you can't run your business if you don't know where your money is coming from or where it is going. Not to mention, bookkeeping can easily be overly burdensome to do yourself. Do you really want to work 8-10 hours running your business only to spend another 2-4 hours at the end of the day entering transactions and performing other bookkeeping duties?
It can even be worse hiring employees to keep your company books. Do you know if they are qualified? Can you train them if they aren't? Do you know how to record transactions for a corporation, partnership, or LLC? Can expense that transaction or do I have to capitalize it?
An Enrolled Agent knows how to record transactions for all types of business entities and can help you determine what goals your bookkeeping system should accomplish. For many startup businesses, very simple bookkeeping systems can be quickly implemented to keep your business profitable. As your business grows, an Enrolled Agent can help your modify and grow your bookkeeping systems as well.
A simple list of some of the bookkeeping tasks an Enrolled Agent can perform are:
- Study and evaluate your bookkeeping needs.
- Develop and implement your chart of accounts.
- Recommend approaches for managing inventory, accounts receivable, accounts payable, tracking methods.
- Recommend and implement any software solutions.
- Enter transactions, reconcile accounts and provide any management reporting.
- Train client or client staff in use of software to meet their management and tax needs.
- Assist with filing year end information returns, such as 1099's.
Contact an Enrolled Agent in your area to get your bookkeeping needs on track.
Hiring employees is a big step in the life of a small business. However, what comes with employees is the obligation to process payroll for all employees. Federal and state laws make the payroll function a time consuming nightmare for the small business owner. Small business owners can spend enormous amounts of time in payroll related issues, which distracts from generating sales, prospecting for new business, or streamlining other business processes to be more profitable.
Some of the burdensome tasks that come with payroll are:
1. Collecting the appropriate documents from a newly hired employee.
2. Filing new hire reports with your local employment tax agency.
3. Setting up employees within the payroll system.
4. Managing changes to employee information within the payroll system.
5. Properly reporting payroll information to employees each pay period.
6. Withholding and remitting of taxes to the IRS and local state agencies.
7. Quarterly filing of Federal and State employment tax returns.
8. Filing year end informational returns with the Social Security and other agencies.
An Enrolled Agent can take the burden of payroll off of you the business owner, allowing you to focus on what makes your business profitable. Contact an Enrolled Agent in your area today!