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 ACCOUNTING & PAYROLL SERVICES
Meaningful, well-organized financial
records ensure that your business operations will run more efficiently on a daily basis
and are the foundation of a successful business. Our qualified staff can
assist you with the day-to-day record keeping tasks associated with running your business.
We will maintain and generate computerized general ledger, trial balance, and financial
statement. This will save you from the headaches and pains of keeping records and
doing taxes on your own. Also, because the tax laws are changing daily, you need
someone who has the resources and the professional personnel to keep on top of your
records. This way you can make sure that you are deducting every available dollar
and that you are not going to have surprise penalties, or find out at the end of the year
that you owe back taxes.
Accounting and payroll services we offer include compilation financial statements, general
ledger, complete listing of adjusting journal entries, cash disbursements, and cash
receipts, bank reconciliation, tax awareness, depreciation entry, complete payroll
processing, quarterly payroll tax reports, W2's, 1099's and related forms.
We have accounting
expertise in a wide range of industries, including:
 | Retail and wholesale distribution |
| Commercial and residential rental and investment real estate |
| Professional and other service industries |
| Software development |
| Home Owner's Associations |
Audit, Review, & Compilation -
What's the difference?
- AUDIT
- An audit report provides
the highest level of assurance that the financial statements are presented fairly in
conformity with generally accepted accounting principles. In an audit the accountant
must be independent of the client and the financial statements must contain all required
disclosures. An audit is planned and performed with an attitude of professional
skepticism; that is, the auditor designs the audit to provide "reasonable
assurance" that significant errors or fraud are detected. However,
irregularities or fraud concealed through forgery or collusion may not be found because
the auditor is not trained to catch forgeries, nor will customary audit procedures detect
all conspiracies.
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- REVIEW
- A review of financial
statement produces a report that provides limited assurance that material changes to the
financial statements are not necessary. With respect to reliability and assurance, a
review falls between a compilation, which provides no assurance, and the more extensive
assurance of an audit.
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- COMPILATION
- A compilation is a monthly,
quarterly, or annual financial statement. However, a compilation offers no assurance
as to whether material or significant changes are necessary for the statements to be in
conformity with generally accepted accounting principles - the set of rules regarding
financial statement form. No probing is conducted beneath the surface unless the
data provided is in error or is incomplete.
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