"You relax while we do the tax!"

For Business

What area would you like more information about?:

• Small Business Accounting


• QuickBooks® Services


• Payroll
• Part-Time CFO Services
• Cash Flow Management
• Bank Financing
• Business Valuation
• Strategic Business Planning
• Succession Planning
• New Business Formation
• Internal Controls

Small Business Accounting
As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we'll do the following things for you...

• Reconcile your bank statement
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Reconcile your bank statement
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

• Identify lost checks, lost deposits and unauthorized wire transactions.
• Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
• Detect and prevent embezzlement of funds from within your company.
• Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
• Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
• Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
• Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Generate an income statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

• Track revenues and expenses so that you can determine the operating performance of your business.
• Determine what areas of your business are over-budget or under-budget.
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability.

Generate a balance sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

• Quickly get a handle on the financial strength and capabilities of your business.
• Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
• Determine if your business is in a position to expand.
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
• Determine if you need to take immediate steps to bolster cash reserves?
• Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Clean up your general ledger
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Provide unlimited consultations
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

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QuickBooks® Services
Why QuickBooks?

QuickBooks is the ideal business accounting software for small to mid-sized business owners. Here's 10 reasons why you should be using QuickBooks.

1. You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.
2. You can easily generate the reports with the information you need, so you always know where your business stands. You instantly know whether you're making money and whether your business is healthy.
3. You save money because QuickBooks is so affordable. You can use it to run a $5 million or a $25 million business for a few hundred bucks. PC accounting software is truly one of the great bargains in business.
4. Your business can grow with QuickBooks. QuickBooks will help you design a business plan to use when trying to secure a small business loan or line of credit or to plan for the future. QuickBooks will create a projected balance sheet, profit and loss statement and statement of cash flows in the format recommended by the U.S. Small Business Administration.
5. You can customize QuickBooks to work the way you want. QuickBooks is specifically designed to be flexible and adaptable to a wide range of small businesses. To broaden its appeal, QuickBooks has recently added customized accounting packages for Contractors, Retailers, Health Care Professionals, and Non-Profit organizations.
6. You can rest assured knowing that QuickBooks is a stable, reliable and proven product. Hundreds of thousands of small businesses throughout the world have chosen QuickBooks as their accounting software. You can't go wrong with a software program with such an extensive installed user base.
7. You save typing time and errors by sharing data between QuickBooks and over 100 business applications. You can even share data with popular programs, such as Microsoft Excel, Word, Outlook and ACT.
8. You will get paid faster with QuickBooks online payments. E-mail an invoice or statement and with QuickBooks Online Billing, your customer can easily pay you with a credit card or bank account transfer. No more waiting for the check in the mail!
9. You can easily accept Credit Cards. With QuickBooks Merchant Account Service, you can accept credit cards with ease. QuickBooks Merchant Account Service is the only credit card acceptance service integrated with QuickBooks software, which means you don't have to enter the same data twice. No additional software or hardware is required. Your customers can use Visa, MasterCard, or American Express.
10. You can pay your bills and bank online. Setup your current bank account in QuickBooks, and you're ready to pay your bills without licking envelopes, sticking stamps, or printing paper checks. Just write checks in QuickBooks as you normally would, then click a button and your participating bank does the rest! Pay anyone in the U.S. from your credit card companies to your pizza service. Online Banking also lets you download your monthly statement from your participating bank directly into QuickBooks for easier reconciliation.

QuickBooks Setup
Although QuickBooks is designed for the layman to understand, the initial setup and installation can be tricky. Save hours of frustration by allowing us to setup QuickBooks for you correctly.

QuickBooks Training
Once QuickBooks is setup and working properly, we can train you or your employees to properly operate QuickBooks specifically for your business.

QuickAnswers
Employees in your accounting department will find comfort in knowing that the answers to their QuickBooks questions are only an email or phone-call away. Email and telephone support prevents many wasted hours of aggravation and embarrassment.

QuickTuneup
Whether you need to prepare your books for tax time, a financial review, or you just need to clean up some problem areas, you'll get your Quickbooks running smoothly again with a complete Tune-up.

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Payroll
Now you can trust your payroll is in good hands. There's nothing better than personal attention from a trusted advisor who knows your business.

No more IRS penalties!

• Did you know that each year, 1 out of 3 small businesses pays a penalty to the IRS?
• With our payroll service, you'll never miss a tax deadline or pay the wrong amount.

Accurate payroll you can count on

• We complete your federal and state payroll filings for you, including 941/944 quarterly forms, year-end 940 forms and W-2s.
• All of your payroll information will be maintained and available; employee records, past pay stubs, tax filings and records of tax payments.

You and your employees will be pleased

• Paychecks can be electronically deposited into employee bank accounts with our Direct Deposit service. Your employees will appreciate Direct Deposit. No more trips to the bank. We also provide professional pay stubs detailing the current as well as year-to-date witholdings, vacation and sick time.
• All common pay types are supported.
• Voluntary deductions are also handled, such as insurance, retirement plans and many others.

What do I need to get started? All we need is your company and employee information, and payroll history (if any) for this year. Call us to schedule an appointment to discuss your payroll requirements.

Can I switch payroll providers mid-year? Yes, we can start your payroll any time as long as you have records of your payroll history.

What about W-2s? At year-end, we create W-2 forms for you and your employees. And we take care of filing them with the Social Security Administration.

Do employees get online access to their paystubs? Absolutely. Your employees can also access their pay stubs securely online at PaycheckRecords.com 24 hours a day, 7 days a week.

Can I import payroll information to my accounting software? Yes, we can help you import payroll data into accounting software such as QuickBooks®, QuickBooks Online Edition, QuickBooks for Mac, Peachtree®, ATX Client Write-Up™, TaxWise Client Write-Up™, CCH Prosystem fx® Write-Up and Microsoft® Money, so that all information is in one place.

How will I stay on top of my payroll details? We will provide you with a variety of reports that will allow you to remain informed and in control of your payroll.

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Part-Time CFO Services
Growing businesses often reach a point where they need professional financial advice, but can't afford a full-time CFO or controller.

If you're fortunate enough to be in this position then we have the perfect solution for you. Our Part-Time CFO service gives you a professional financial manager who works with you to help guide your business to success.

The cost of hiring a full-time CFO can range from $60,000 to over $100,000 per year plus bonuses and benefits. Our Part-Time CFO services provides you with experienced support at a small fraction of that cost.

Here's what you get with our Part-Time CFO services...

• More time to focus on new services, new customers and other core business issues.
• Better understanding of the financial side of your business. So you have less surprises and more control over the money.
• Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
• A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
• The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
• A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
• Training and managing your accounting staff.
• Improved quality and timeliness of financial information.
• Budget preparation and monitoring.
• Profitability analysis by service or product line.
• Tax saving strategies.
• Trend analysis.
• Assistance in defining long-range plans and the quantification of goals.
• Cash management.
• Liaison with bankers, attorneys, vendors, insurance agents, etc.
• Assistance in obtaining financing from banks, including assistance with negotiations.
• Review/negotiation of insurance policies.
• Development of company accounting procedure manuals.
• Analysis of equipment purchases, expansions, etc.
• Mergers and acquisitions assistance.
• Custom designed collection policies and procedures.

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Cash Flow Management
A wise business owner once said, "Happiness is a positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out.

A cash crisis can be emotionally devastating and it can even kill your business. If you've ever had to beg, borrow and steal to cover tomorrow's payroll you know what I mean.

Our cash management service allows you to...

• know when, where, and how your cash needs will occur.
• know what the best sources are for meeting your additional cash needs.
• be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors.

The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you. We can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs.

We also prepare historical cash flow statements to help you gain an understanding about where all the money went.

Creating an accurate cash flow projection is just one of the many cash management services we provide. You also get...

• Help obtaining an appropriate line of credit
• Cash collection acceleration techniques
• Proven effective collection policies
• Proven effective payment policies
• Help obtaining the maximum rate of return on your idle cash

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Bank Financing
Need money to grow your business?

Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach for financing.

Put your best foot forward by allowing us to prepare a winning loan proposal for you. Our proposals have a high likelihood of success because they're created from the lender's perspective.

You get the money you need because we know exactly what banks want to see. Even more importantly, we know how to prove to them that you'll be able to pay them back.

Our winning loan proposals come complete with...

• Executive Summary: Where we concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it's needed.
• Pro-forma Cash Budgets and Financial Statements: We use your data and underlying assumptions to prepare information that your banker can easily read and buy in to.
• Owners Personal Financial Statements: We make copies of the last 3 years of personal tax returns for the bank as well as identify the collateral being pledged as security for the loan.
• Representation: We help substantiate your financial needs/position to your banker in person.

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Business Valuation
Few things are more important to business owners than the value of their business. The valuation you get for your business can make or break a proposition.

Whether you're negotiating a merger, considering new shareholders, attempting to resolve disputes associated with liability, shareholder equity, estate planning or marital dissolution, objective valuation can make the difference between loss or gain, success or failure.

Business valuation is not an exact science. It's based on judgment, experience and relevant information. So, you need professionals who are well qualified, with significant experience in evaluating all types of organizations.

Our approach is to intimately know your business in order to understand what constitutes its value. We work closely with you to analyze your operations and historical financial data. Our in-depth knowledge of your business enables us to provide a well-reasoned, fully documented and defensible valuation opinion.

We provide a full range of business valuation services for the following needs:

• Purchase or sale of closely held business or business interests
• Management buyouts
• Leveraged buyout transactions
• Bank financing
• Financial restructuring and recapitalization
• Employee stock ownership plans (ESOP's)
• Analysis and advice concerning pending offers to purchase
• Valuation of subsidiaries, divisions and joint ventures for spin-off to shareholders and/or sale
• Physician buy-in to medical practices
• Court appointed valuations in disputes
• Minority shareholder disputes and litigation
• Divorce (equitable distribution)
• Business damage assessment and determination
• Bankruptcy
• Solvency analysis and fraudulent conveyance
• Reasonable officer compensation determination in disputes with the Internal Revenue Service
• Mediation
• Binding arbitration
• Litigation consulting services provided to trial counsel in preparing to depose and cross-examine valuation experts

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Strategic Business Planning
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all you plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page", and keeps both management and staff focused on the tasks at hand.

A Strategic Plan is often needed when...

• Starting a new venture, product or service
• Expanding a current organization, product or service
• Buying a new business, product or service
• Turning around a declining business

The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.

The plan allows you to...

1. Identify and describe the target customer profile, features, advantages and benefits of your new venture, product or service.
2. Justify that your plans are credible by fully researching the need being filled with your new venture.
3. Develop marketing plans including full descriptions of targeted promotional campaigns with implementation timelines. You also get to examine market conditions, the nature of your customers, as well as your competitors, sales potential, and projected results of your promotional campaigns.
4. Develop staffing plans including identifying the key players, skills, attitudes and expertise needed to build the venture.
5. Develop management plans including full descriptions of management systems and timelines for implementation.
6. Develop financial plans including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first 3 to 5 years.
   
   Projected financial plans allow you to effectively predict upcoming problems, or prevent them. In other words, the perspective gained through your Strategic Business Plan can make a significant contribution to your company's success, and help you get the funding you require. In fact, most lending institutions and private investors will not even talk to you without a solid financial plan.
7. Identify building and equipment needs including vendors and cost estimates.
8. Formulate company milestones including timelines for upcoming products and services in development.

Remember: Failing to plan is planning to fail.

Let us help you develop a powerful Strategic Business Plan that drives your business to the level of success you deserve.

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Succession Planning
If you own a family business, retirement isn't simply a matter of deciding not to go into the office anymore. You've got some critical questions to answer like...

"What happens to the business when you're no longer running it?"
and
"Will you have enough money to retire?"

The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs.

Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord - or both.

Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.

We help you with these key issues -

• Keeping it in the family. Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
• Who's going to run the business when you're gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they're actively involved in the business or not.
• Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
• Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.

What we do for you...

Once we understand how you feel about the key issues above, we begin constructing your succession plan focusing on these 5 issues...

1. Business Valuation
2. Business Restructuring
3. Tax Consequences
4. Retirement Projections
5. Tax Projections

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New Business Formation
Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you...

1. Prepare an initial business plan to clarify your marketing, management, and financial plans.
2. Determine your start-up capital needs.
3. Identify sources of start-up capital and backup sources if needed.
4. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
5. Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
6. Select the right accounting software by evaluating your budget, needs and hardware.
7. Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
8. Establish billing and collection procedures to maximize your cash flow.
9. Establish procedures to monitor and control costs.
10. Setup a home office so you can maximize your tax deductions.
11. Prepare and file all required state and local licenses and permits.
12. Prepare and file your application for your Federal Employer Identification Number.
13. Provide payroll and payroll tax filing when you bring on your first employee.
14. Comply with employment laws so you don't get hit with fines and unhappy employees.
15. Identify your business insurance needs.
16. Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

Let us help you succeed by getting your new business off to a good strong start.

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Internal Controls
At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What we do for you...

• Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
• Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
• Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
• Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
• Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
• Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.

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since Feb 1 2004