Bookkeeping Services

Ongoing services may be provided to businesses in

Easthampton, Northampton, Westhampton, Southampton, Hadley, Holyoke

, or other locations within 10 miles of Easthampton. Quarterly, annual or one-time services or Quickbooks training may be available on an as-needed basis to businesses that are further away.

Basic Bookkeeping:

income and expense entry

,

bank and credit card account reconciliations

,

A/P

,

A/R

,

loan tracking

, etc. weekly, biweekly or monthly depending on the client’s needs. See the bookkeeping task list for a list of the most common services provided.

Year-End Accountant Preparation

for individuals or small businesses who don’t require ongoing bookkeeping support

. Clients provide bank statements, receipts and other materials for entry into Quickbooks. Clients are then asked questions to further identify business and tax deductions and a Quickbooks file plus a spreadsheet summarizing all data is created for use by their accountant.

Payroll:

full service or client-managed payroll, including

direct deposit

,

vacation and sick time accruals

,

quarterly and year-end tax payments

,

W-2’s

and data import into Quickbooks.

Sales and Meals Taxes:

track collections and withholdings and provide monthly, quarterly or year-end filing.

Overhead and Cost Analysis:

vendor/supplier research, identification of cost-cutting measures, budget creation and analysis, and assistance managing cash flow and prioritizing payments to improve credit or reduce debt.

Employee Benefit Tracking:

medical benefits

,

sick, vacation and personal time tracking

,

retirement plan contributions

, identification of employees eligible for the earned-income credit or the Massachusetts Insurance Partnership health insurance premium subsidies, and assistance researching and setting up retirement or health insurance plans. Cost analysis so a business can better understand all employee costs, as well as the cost of layoffs or new hires.

WorkShare Plans:

set up and administer WorkShare plans with the Massachusetts Division of Unemployment Assistance,

avoid full layoffs

,

increase staff retention during partial layoffs

, and

reduce the risk and expense of hiring and training new employees

.

Customer Invoicing:

track project time and expenses (Architectural, Construction, Design firms, etc.)

,

prepare invoices

,

provide sales tax collection and reporting

, and follow-up on past due accounts, using Quickbooks or your existing invoicing system.

Nonprofit Overhead and Program Income and Cost Allocation:

provide an additional breakdown of all

income and expenses tracked by administrative, development, and program categories.

Track

use of restricted grant funds

and create the necessary reports to be sent back to the funding agency. Assist in the creation of simple graphics or reports to be posted online or sent to potential donors showing what percentage of their donation was used for programs during the prior fiscal year.

Subcontractor Issues:

assist in

correctly identifying subcontractors vs. employees

and creating and maintaining an appropriate paper trail, including

1099’s, certificates of insurance, and other documentation needed to support subcontractor status

with the IRS or DUA and reduce workers’ compensation insurance premiums. This is especially important in the construction industry, where using subcontractors who don’t have (or didn’t provide proof of) their own workers' compensation and liability insurance can add a hidden labor ‘tax’ of 15-30% to a project, often well after completion, when an insurance audit is performed and additional premiums are due.

Quickbooks Training and Set-up:

review materials from prior years

,

set up Quickbooks for your specific business

and individual preferences, and

provide one-on-one training using your actual data

. After the initial training, clients may request occasional on-site, telephone or email support or additional training sessions as needed.

Retirement Plan Set-up and Tracking:

assistance researching and creating

SIMPLE and SEP plans for small businesses

and

ROTH or IRA plans for individuals

, and computing and tracking contributions.