Bookkeeping
- Enter all the deposits
- Enter all the withdrawals
- Enter all the checks
- Reconciliation of all the bank accounts
- Reconciliation of all the credit cards, line of credits & Loan statements
- Vendor payment service
- Accounts Receivable service
- Make all the necessary month end and year end journal entries
- Financial Statements such as P&L, Balance Sheet and Cash Flow will be available upon request
Payroll/Payroll Taxes
- Enter all the employees information in the payroll module such as name , address, SSN , Fed/ST Exemptions
- Reporting of new hire to state
- Maintain employee records
- Enter all the payroll FUTA, SUTA, Fed/ ST withholding id’s and maintain their rates on yearly basis
- Set up of direct deposit
- Collection of hours and processing of schedule payroll
- Submission of direct deposit, Printing and mailing of payroll checks
- Create Payroll summary, detail, 940/941, State withholding and SUTA reports
- Generate and remit monthly and quarterly Payroll Liabilities
- Create garnishment liability checks and mail it to the appropriate authorities
- Deal with payroll related notices on a priority basis
- Prepare W2/1099 and file year end reports with Federal, Social Security, State and Local City
Sales & Use Tax
- Collect monthly sales data
- Prepare the sales tax form and filling with the NCDOR
- Stay on top of the continuance changing of Sales Tax Rates and inform clients on a timely basis to avoid penalties
- Deal with any kind of sales tax related notices
- Keep the copies of filled returns and provide copies of those to client
Business Property Listing and Business Licensing
- Analysis of all the assets on a yearly basis
- Addition and Deletion of assets on a property listing form
- Match assets with tax returns to avoid any conflicts
- Deal with any kind of issues and notices
- Determine the amounts to be paid for Business Licensing
Accounts Receivable
- Design Invoice for client
- Provide W9 for each customer of client
- Collection of data to create invoice
- Send invoices to each individual customer of client
- Generate A/R aging report and follow up with the due invoices
- Receive payment, clear invoice and deposit check in the bank
Accounts Payable
- Set up Vendor profile
- Collect bills to be paid
- Remit payment using preferred method
- Issue 1099 at the year end
- Generate A/P reports and deal with any issue regarding payment
New Business Start Up
- Filling of Articles of Association with Secretary of State
- Apply for Federal ID with IRS
- Apply State W/H, Unemployment and Sales & Use Tax ID
- Filling of Sub chapter – S for corporations
- DBA Name Reservation with County
Tax Returns (Corporation/LLC & Individual)
- Collection of Financial Statements
- Analysis of Financial Statements
- Entering information into tax return form after finding out necessary schedules
- Filling of Annual Report with the state
- Review and discussion of tax returns with the client before filling