BOOKKEEPING/GL ACCOUNTING
The art of booking involves a person who records the day-to-day financial transactions of a business. He or she is usually responsible for writing the daybooks, which contain records of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct daybook, supplier’s ledger, customer ledger, and general ledger; an accountant can then create reports from the information concerning the financial transactions recorded by the bookkeeper.
HUMAN RESOURCES
Human-resource departments perform human resource management, overseeing various aspects of employment, such as compliance with labor law and employment standards, administration of employee benefits, and some aspects of recruitment and dismissal. Human resources play an important part of developing and making a company or organization at the beginning or making a success at the end, due to the labor provided by employees.
IOTA LEDGER ACCOUNTING
A general ledger is a company’s set of numbered accounts for its accounting records. The ledger provides a complete record of financial transactions over the life of the company. The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners’ equity, revenues and expenses.
MANAGEMENT SERVICES
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions. Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry.
MONTHLY/QUARTERLY FINANCIALS
We can also provide our clients with Monthly and or Quarterly financials. This allows you to closely monitor and record the financial environment of your business through out the year. Quarterly reports are sets of financial statements issued by a company every three months. Public companies in the United States file this report via the Securities and Exchange Commission (SEC) Form 10-Q.
PAYROLL/PAYROLL TAXES
Payroll accounting involves a company’s recording of its employees’ compensation including: gross wages, salaries, bonuses, commissions, and so on that have been earned by its employees. withholding of payroll taxes such as federal income taxes, Social Security taxes, Medicare taxes, state income taxes.
SALES & USE TAX
Most states and many local governments levy a tax on the production, use, or consumption of goods and services. This tax takes a variety of forms—the most common being sales and use tax. Currently, every state imposes sales and use taxes except Alaska, Delaware, Montana, New Hampshire, and Oregon.
TAX RETURNS
U.S. tax accounting refers to accounting for tax purposes in the United States. Unlike most countries, the United States has a comprehensive set of accounting principles for tax purposes, prescribed by tax law, which are separate and distinct from Generally Accepted Accounting Principles.
