Financial Reporting
The preparation and dissemination of financial statements, including the balance sheet, income statement, and cash flow statement. These reports provide valuable insights into the company’s financial health, operations, and potential future prospects.
Expense Categorization
Involves organizing and classifying expenditures into distinct categories based on their nature and purpose. This process helps businesses track and analyze their spending patterns, enabling better budgeting, financial planning, and decision-making.
Monthly Bank Reconciliation
It is the practice of comparing a company’s internal financial records with the transactions reported by the bank to ensure accuracy and consistency. It involves identifying any discrepancies, such as missing transactions or errors, and resolving them to maintain the integrity of the financial data.
Tax-Ready Books
Financial records that have been meticulously maintained and organized in accordance with tax regulations and requirements. These records are prepared to facilitate the efficient and accurate filing of tax returns, ensuring compliance with tax laws and minimizing the risk of audits or penalties.
Sales Tax Reporting
Involves the process of calculating, collecting, and remitting sales taxes to the appropriate tax authorities. Businesses must regularly report their sales tax liabilities based on the taxable sales made within a specific jurisdiction, ensuring compliance with tax laws and regulations.
Accounts Payable
Accounts payable works by recording and tracking the amounts owed by a company to its suppliers for goods or services received. When invoices are received, they are entered into the accounting system, and payments are made according to agreed-upon terms, typically within a specified period, ensuring smooth transactions and maintaining positive relationships with suppliers.
1099 Filing
Involves reporting certain types of income, such as freelance earnings, to the IRS and the recipient of the income. Employers or businesses must issue Form 1099 to individuals or entities who receive payments exceeding $600 in a tax year, enabling accurate reporting and compliance with tax regulations.
Business Set-up
Assists in setting up a new business by managing the LLC filing process with the Secretary of State, obtaining an Employer Identification Number (EIN) from the IRS, and establishing a QuickBooks Online account to streamline financial tracking and reporting. They ensure proper documentation and compliance with legal and financial requirements.
Accounts Receivables
Tracking and managing the amounts owed to a company by its customers for goods or services provided on credit. This process involves invoicing customers, monitoring payment timelines, following up on overdue payments, and recording transactions in the company’s financial records to ensure timely receipt of funds.
About The Active Ledger & Why I am
The Best For the Job
At The Active Ledger, our mission is to empower small businesses to achieve financial fitness through our comprehensive bookkeeping services. With a passionate commitment to getting the job done right, we prioritize attention to detail and precision in every task we undertake. We believe that just as maintaining a healthy routine is crucial for personal well-being, staying up to date on bookkeeping is essential for achieving financially fit books. Let us be your partner in maintaining the financial health of your business.
Phone
417 360 3327
hello@theactiveledger.com