accounting lansdale paAfter a business has been established in the chosen form, such as a sole proprietorship, Subchapter C or Subchapter S corporation, Limited Liability Company (LLC) or partnership, concerns should naturally shift to the accounting and bookkeeping functions of the business.  These include the need to establishing good policies, procedures and systems related to record keeping, financial reporting and internal accounting controls. Many small business owners neglect the accounting and bookkeeping functions for various reasons, but doing so can have severe consequences.  A business with weak accounting and bookkeeping functions is much more likely to have compliance-related problems with the IRS and state authorities, some of which carry both criminal and civil penalties with which the business owner is unfamiliar. Businesses with weak record keeping and accounting systems and controls are also more likely to go out of business.

Our accounting and bookkeeping services are designed around helping business owners effectively address the important compliance-related responsibilities that come with running a business, as well as to provide the business owner with effective tools for continually measuring and monitoring financial performance and progress of the business. Available accounting and bookkeeping services we provide include:

Assisting the business owner in selecting the appropriate record keeping or accounting system (computerized or manual) most suited to his or her needs.Developing an appropriate chart-of-accounts for the business that captures revenue and expenses of the business in a manner that facilitates both the completion of compliance-related tax returns and reports, as well as the production of management-use financial reports (e.g., balance sheets and income statements) that are essential to helping the business owner evaluate performance and address operational areas of concern.Training the business owner and/or his or her designated bookkeeper on how to properly record receipts, disbursements and other transactions of the business.  We also can assist in finding a solution in cases where the business owner will not be involved in the day-to-day recording of financial transactions and has no employee or contractor available to perform such functions.  Preparing management-use financial statements including the balance sheet and income statement.Preparing bank reconciliations and cash proofs designed to promptly discover both book and bank errors and omissions.Advising the business owner or his or her bookkeeper/accountant on various accounting, record keeping and internal control matters as they arise.

Services are tailored to a client's unique needs and priorities.  Fees can be billed on either a per-hour, specific performance basis, or as part of a monthly retainer arrangement where a client can achieve more preferential hourly rates and a means to pay one consistent monthly fee throughout the entire year for all contracted services and despite the level of work and related cost associated with any particular month.  Estimates are provided in advance of work performed.