Services
Accountable Bookkeeping provides services and software solutions that are customized to meet your specific business’s needs.
Bank Reconciliation:
The process by which the bank account balance as shown on the bank's records is brought into agreement with the balance shown in your financial system or check register. Bank accounts should be reconciled monthly.
Accounts Payable/Bill Payment:
A ledger recording accrued outstanding debt. This is an accumulation of expenses whose value has been incurred but for which no cash has yet been paid. Reports are used to show who you owe money to, how much and how old is the debt. Check writing to pay monthly expenses, accounted for in the check register.
Accounts Receivable:
A ledger recording accrued revenue items. This is an accumulation of assets (including sales or revenues) whose value has been incurred but for which no cash has yet been received. Reports are used to show who owes you money, how much and how old is the receivable.
General Ledger:
A chart of accounts is customized to your industry and business. Daily transactions are recorded by account and posted to the general ledger. Accounting can be done on a cash or accrual basis according to your business’s needs.
Financial Statements:
The standard statements prepared are the income statement or P&L, the balance sheet, and the cash flow statement. Financial reporting may be prepared monthly, quarterly and annually and shows the ending balances for asset, liability, capital and expense accounts through a specific period of time.
Customized Reporting:
Any data entered into your bookkeeping system can be retrieved into custom reports for tracking and analysis. Various reports can be prepared to assist your CPA with tax reporting, such as a detailed trial balance and general ledger.
Inventory:
Complete tracking and reporting of inventory or merchandise purchased, sold, returned and on hand. Sales revenue and COGS are recorded using price lists and purchase costs. Items in inventory can be identified by vendor for easy reordering.
Payroll: Computation and Records:
Payroll computed and checks issued weekly, biweekly or monthly. A report of the total hours employees worked during the pay period, employee names, total earnings, and the various deductions that are taken from the gross pay to arrive at the net pay. Customized reports are available.
Payroll Tax Deposits:
Deposits of your tax liabilities are made electronically semi-weekly, monthly or quarterly according to federal and state requirements. Taxes associated with payroll:
- 941 Federal Tax Deposit (includes federal income tax withholding and social security/medicare withholdings)
- FUTA (Federal Unemployment)
- SUI (State Unemployment Insurance)
- CA State Income Tax
- CA State Disability
- CA Employment Training Tax
Payroll Tax Reporting:
Reports filed for payroll taxes:
- 941 Employers Quarterly Federal Tax Return – filed quarterly
- 940 Employers Annual Federal Unemployment/FUTA – filed annually
- W2 Wage & Tax Statement - filed annually
- W3 Summary Wage & Tax Statement - filed annually with copies to Social Security Administration, IRS & State
- E 6 State of CA EDD Quarterly Wage and Withholding – filed quarterly
- DE 7 State of CA Annual Reconciliation Report – filed annually
Software Solutions
Your company’s bookkeeping needs will be analyzed to determine which software solution is best to ensure that you have the complete, accurate and up-to-date financial information needed to make the best possible decisions. Programs commonly used include QuickBooks (Pro, Premier, Online), Quicken, and Intuit Payroll Solutions. Industry-specific software programs can be accommodated.
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