Accounting Services
The Importance of Having a Good Accounting System
Having a good accounting system is absolutely necessary for a business to become successful. The accounting system provides crucial financial reports about business operations and profitability. Without a good accounting system, a business is operating in the dark.
Accounting Software Selection and Implementation
Our Firm provides accounting system design and implementation services. We can set up new accounting systems for startup companies or evaluate and improve upon already-existing accounting systems. After implementation, our professional accountants can provide follow-up training and monitoring, either on a monthly basis or as needed. We have consultants on staff who are certified in QuickBooks Accounting and Peachtree Accounting, the two most popular accounting programs used by small businesses. We also provide onsite custom training and classroom training throughout the year. For more information on these products and services click here QuickBooks Accounting Training, Peachtree Accounting Training.
Benefits of Onsite Accounting Services
At the Allday Consulting Group, we realize the importance of providing accounting and tax services at our clients’ place of business.
Creating a relationship with the business owners built on respect and trust.
- See your business operation first-hand. This gives us a better understanding of your business and its uniqueness. It also allows us to better understand the individual needs of the owner and the employees of the business.
- Work directly with the people who are doing the accounting work. This allows us to reduce errors and duplications and implement improvements to the accounting system.
- Revise accounting records while onsite, reducing turnaround time for your much-needed financial reports. Also, knowing that an independent accountant has reviewed your accounting records, will give you peace of mind that they are being properly maintained.
Note — A review of accounting records does not guarantee that it will uncover theft or embezzlement, but if such activity is discovered, we will bring it to your attention.
- Create a relationship with the business owner built on respect and trust. This respect and trust assist us in providing “value-added” services such as tax reduction, wealth building, and more……..
Our CPAs can come to your place of business and help you with preparing monthly financial statements, general ledgers, journal entries, income tax reporting, payroll tax filing, and reconciling bank accounts.
Onsite Accounting and Tax Filing Services
- Cash Flow Management Services
- Complete General Ledger Review/Maintenance
- Financial Statements
- Sales Tax Returns
- Year End Services
Cash Flow Management Services
Accounts Receivable Management
- Invoicing customers
- Recording customer payments
- Preparing and making bank deposits
- Sending customers balance-due statements
- Sending collections letters
- Produce accounts receivable reports
Accounts Payable Management
- Entering invoices from suppliers and vendors
- Verifying cash balances are adequate to pay bills
- Printing reports of bills due
- Obtain approval for payment of bills due
- Printing and mailing checks
- Produce accounts payable reports
Bank Account Management
- Update bank registers for bank deposits and checks written
- Record automatic bank drafts, debit card transactions, miscellaneous bank charges and miscellaneous credits
- Reconcile bank statements
Cash Flow and Budget Analysis
- Our firm offers expert cash flow and budget analyses that can help you minimize cost overruns, recover lost purchase discounts, and reduce uncollectible receivables. We can even produce reports that compare the cash flow of your business to the averages of other businesses in your industry.
General Ledger Maintenance
We can review your general ledger for proper recording of deposits, checks, credit card, and debit card transactions. We can perform or review your bank account reconciliation and advise you of any adjustments needing to be made to your general ledger. We can prepare journal entries to record the acquisition, deprecation, and sale of capital assets. We can record your investing, borrowing, and financing activities.
Financial Statements
Financial Statements measure the success of your business. Somewhat like a report card, your financial statements will show areas of success while pointing out those areas needing improvement. Financial Statements can be prepared that will compare the financial results of your business to those of previous years, to budgeted amounts, or to the financial results of other businesses in your particular industry.
Sales Tax Return Preparation
Filing sales tax returns, especially in Louisiana, is an unpleasant and time-consuming task. Mistakes are easy to make and it doesn’t bring revenue to your bottom line. Allowing a professional to prepare your sales tax returns will allow you to focus on the more important aspects of your business.
Year End Services
- Prepare Occupational License Tax Renewal
- Prepare Annual Personal Property Tax Report
- Prepare/Review Employee’s W-2’s & W-3 Transmittal to SSA
- Prepare/Review 1099’s for all Contract Labor & 1096 for IRS Filing