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AVAILABLE BUSINESS SERVICES
First Neighbor Bank NA offers a full range of business and accounting services, all supervised by a Certified Public Accountant. These include a full service accounting management package, which is designed to complete your daily record keeping tasks as well as month end closings and financial statement preparation. We stay on top of your books, so you don’t have to. Included in our fixed monthly fee are the following services. You design your own contract; pick and choose from the following list of services available to your business. Choose them all, or choose what you need:
Accounts Payable
• Input vendor invoices
• Classify invoices in proper G/L account
• Prepare and file required 1099 forms
• Cut checks to vendors based on client instruction
• Reconcile vendor statements with G/L
• Analysis of payables and consultation regarding cash requirements.
Accounts Receivable
• Billings prepared and mailed out
• Record and account for revenue in proper G/L accounts
• Prepare and deliver statements to customers
• Issue client approved credit memo’s and refund checks
• Maintain subsidiary ledger of Accounts Receivables
• Apply cash received to customer accounts
Fixed Asset Management
• Maintain a detailed listing of company assets
• Calculate Book, Tax and Alternative Minimum Tax depreciation
• Track location and cost of assets
• Track insurance value
• Record entries in financial statements
• Enter trades, purchases and sales of assets
• Discuss the asset listing with management at least annually to
determine accuracy
• Review and discuss lease versus buy, financing questions and
other fixed asset concerns with management
Monthly Financial Analysis and Reporting
• Reconcile the bank accounts
• Reconcile subsidiary journals (A/P, A/R, Inventory, etc.) to
the General Ledger
• Reconcile Debt, other assets, accrued liabilities, fixed assets
as necessary
• Make any journal entries required
• Print financial reports - Balance Sheet and Profit and Loss
• Identify any areas of concern, notify the client of such matters
• Discuss the financial statements with management personnel
at least quarterly
Payroll
• Time cards, approved by client, entered into payroll system
• Payroll checks printed and delivered, mailed, direct deposited to employees
• Prepare employee earnings statements
• Prepare timely and accurate notification of tax liabilities, or make the liability deposits via
EFTTPS system
• Complete quarterly payroll tax returns
• Complete annual W-2’s
• Process and submit garnishments, child supports, savings, etc.
• Prepare and file new hire reporting to State
• Process W-4 forms of new hires
• Prepare any necessary HR reports
• Allocate payroll expenses in the proper G/L account/department, etc.
• Handle Workman comp audits, other audits by agencies
• Respond to any inquiries by the IRs, State or any other taxing authority
Income Tax Preparation for the Business:
• Prepare form 1120 (Corporation Income Tax Return)
• Prepare form 1120S (Small Business Income Tax Return)
• Prepare Schedule C (Sole Proprietor and Sole Member LLC
• Prepare form 1065 (Partnership return and most LLC’s)
• Tax Planning performed in conjunction with the owners to determine best possibly planning ideas
• Timely preparation of returns - if we have the information - we won’t extend the filing time
• All returns signed by CPA
• Audit help on returns prepared by us or elsewhere
• Electronically Filed Returns (E-File)
Income Tax Preparation of the Owners:
• Prepare form 1040
• Tax planning meeting before year end to determine best possible planning ideas
• Timely preparation of returns - if we have the information - we won’t extend the filing time
• Estimates prepared and provided
• Electronically Filed returns (E-File)
• All tax returns signed by a certified Public Accountant
• Audit help on returns prepared by us or elsewhere |
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