“Accountability is our Credibility”

Bookkeeping

Quarterly

• Prepare all quarterly payroll reports, including 941’s,
            WR-1’s, SUTA, etc. and pay any balance due

• If FUTA exceeds the threshold for annual filing, file and
            pay FUTA tax

• Reconcile payroll liability accounts against quarterly
            reports

• Deposit Federal and State payroll taxes and withholdings
            (if a quarterly depositor)

• Reconcile and pay sales and/or meals tax
            (quarterly filers only)

• Create/review quarterly profit and loss and balance
            sheet statements

• Create/review quarterly inventory and sales reports

• (Nonprofits & some for-profits) Do quarterly cost
            allocations

• If you pay estimated taxes, make your quarterly payment

 

Annually

• Prepare all year-end payroll and vendor statements,
            including W-2’s, W-3’s, 1099’s, 1096’s, etc.

• File and pay FUTA (form 940)

• File and pay sales or meals taxes (if an annual filer)

• Verify and update employee withholding and address
            information

• Review employee benefits programs/update employee
            information

• Review vendors and services (telephone or internet
            service providers, credit cards, etc.)

• Update year-end inventory and capital assets in the books

• (Nonprofits only) review the status of any restricted grants;
            prepare reports for funding sources as necessary

• (Nonprofits only) review overhead expense
            allocations (Management & General, Development,
            Program) and adjust as needed

• Review company insurance coverage against inventory
            value, potential liabilities or increased revenue

• Update form of list for your town’s personal property tax

• Prepare materials for workers’ comp insurance audit

• Prepare materials for liability insurance audit

• Review status of any owner loan accounts

• Prepare materials for accountant

 

Weekly or every two weeks

• Enter deposits and payments

• Enter payables and receivables

• Pay any bills due

• Enter payroll/create payroll checks

• Update employee benefit information if benefits are
            pro-rated against actual hours worked

• Deposit Federal payroll taxes and withholdings
            (if a semi-monthly depositor)

• Mail requests for I-9's and/or certificates of insurance
            to new subcontractors (note on bill to hold payment
            against return of paperwork)

• Follow up on any past due accounts

 

Monthly

• Deposit Federal payroll taxes and withholdings
            (if a monthly depositor)

• Deposit State payroll withholdings (if a monthly depositor)

• Enter principle and interest on any loan payments

• Review vendors for expired certificates of insurance and
            request updated information

• If collecting sales tax, review resale and non-tax customers
            for any missing or expired ST-4 or ST-5 forms and
            request updated information

• Report and pay any retirement benefits withheld from
            employee paychecks during the previous month

• Review A/R and create customer statements or mail
            reminder invoices as needed

• Review A/P statements against possible missing or past
            due invoices to be paid

• Reconcile and pay sales and/or meals tax
            (monthly filers only)

• Reconcile all bank and credit card accounts

• Create/review monthly profit and loss and balance
            sheet statements

• Create/review monthly inventory, sales, and other reports

• (Nonprofits & some for-profits) Do monthly cost allocations

• If you pay estimated taxes, set aside 20-30% of net
            monthly profit in a savings account for estimated
            or year-end taxes

 

**All services are subject to change according to your needs and packages are available upon request

©2017 B and Z Accounting. All rights reserved.        Web design by InfoGraph Creative