Downtown Vancouver,richmond,victoria,accounting, bookkeeping,tax services

By: Acro Accounting & Bookkeeping  09-12-2011
Keywords: Payroll


What Can We Do for Your Business

Wholesale / Retail / Service
Have complete control systems for Accounts Receivable, Accounts Payable, and Inventory.

TV / Automotive / Furniture
Properly account for Contracts in Transit, Bank Reserve Accounts, and Flooring of products for resale (inventory financing). Maintain control of income and expenses.

Manufacturing
Control Raw Materials, Direct Labor, Work in Progress, and Finished Goods. Keep expenses categorized into Manufacturing and General Overhead areas.

Construction
Easily track profits or losses on each job in progress. Control cash flow based on percentages of completion. Minimize losses from under-billings created through change orders.

Professional
Control expenses and income for year-end savings. Take advantage of conversion from cash-to-accrual accounting. Manage Accounts Receivable and improve Collections.

Food / Cafe / Beauty
Utilize a combination of Cash and Accrual statements. Have a low-cost, low-maintenance accounting system.

Accounts Payable

  • Input vendor invoices to payable system
  • Classify invoices to the proper G/L account
  • Request and maintain vendor W-9 information
  • Maintain vendor master files
  • Respond to vendor inquiries about payment status
  • Retrieve copies of payments as necessary
  • Prepare and file required 1099 forms
  • Process requests for stop payments when necessary
  • Cut checks to vendors based on due dates or client instruction
  • Reconcile vendor statements to accounts payable ledger
  • Reporting to organization on detailed aged payables and cash requirements
  • Year end 1099 forms

Accounts Receivable

  • Billings prepared as needed and mailed out (all billings provided to Client for approval prior to mailing)
  • Record and account for revenue
  • Input receivable transactions into the accounting system
  • Prepare and deliver periodic statements
  • Issue client-approved credit memos and refund checks
  • Maintain subsidiary receivables ledger
  • Process client-approved adjustments
  • Apply cash received to customer accounts and resolve “short pays”
  • Light phone collections as needed by client
  • Client to photocopy checks
  • Client to prepare deposit slips and make bank deposits

Cash management

  • Process daily sales and deposit reports
  • Verify daily deposits and report variances
  • Reconcile and verify credit card deposits
  • Reconcile monthly bank statements

Journal entry and general ledger

Account reconciliations

Payroll

  • Time cards, after approval, will be scanned and uploaded prior to payday
  • We complete payroll and client prints, signs and distributes paychecks
  • Prepare employee earnings statements complete with current pay period and year-to-date wages, taxes, and adjustments
  • Prepare department summaries of month-to-date payroll data in addition to customized reports specific to Client
  • Prepares timely and accurate notifications of tax liabilities and deposits
  • Completes Year end W-2 forms
  • Respond to requests for employee verifications
  • Process and submit garnishment payments
  • Respond to employee payroll inquiries
  • Prepare and file new hire reporting to state
  • Prepare, file, and pay all Federal, State, and local payroll taxes
  • Reconcile health insurance payments and make payroll deductions when required
  • Prepare necessary HR reports such as turnover
  • Allocate payroll expenses for multi-store employees
  • Prepare and process payroll accruals when necessary

Monthly closing

Fixed assets accounting & depreciation

Monthly financial analysis and reports

GST/ PST remittances

T2 Corporate tax

T1 Individual income tax

Yearly business assessments

Don’t wait another day to partner with us and make your business more successful. Do what you love and to do more; we will take care of the rest. Call now for a free, no-obligation consultation.

Keywords: Payroll

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