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Small Business Accounting

From daily bookkeeping procedures to solutions for complex accounting transactions, the experienced professionals at GreenoCPA can offer their expertise to help you with a full range of business accounting services. We realize that it is difficult to manage your business enterprise without reliable and understandable financial information.

Where does your business stand today? What about the future? Our value comes from providing you with:

* Comparison of our client’s business to the industry average

* Budgeting and goal setting

* Business planning

* Profitability analysis

Our accounting services include two levels of assurance:

Reviews of Financial Statements

A review involves inquiry and analytical procedures to provide a basis for expressing limited assurance in a review. We determine whether there are material modifications that should be made to the statements for them to be in conformity with generally accepted accounting principles.

A review is appropriate when management needs some assurance about the financial statements, but not the higher level of assurance provided by an audit.

Many lenders to small businesses require reviewed financial statements as part of the loan approval package.

Compilation

A compilation is a presentation of information without expressing any assurance or opinion on the statements.

Payroll Services

Payroll management for your employees can be a major task. Whether you have 1 or 500 employees, there are many steps that go into getting your employees their paycheck. Small business owners often times try to manage their payroll in the early days to save money, but they end up spending double the amount of time doing something they do not enjoy or fully understand.

There are many steps involved in running payroll for your company:

-Calculating wages
-Deducting taxes
-Printing and distributing checks
-Signing checks
-Setting up direct deposit
-Pretax deductions such as health care and 401(k)s
-Distributing W-2s in January
-Taxes and Deductions

Tax deductions for full- or part-time employees vary by state. Then there are federally mandated taxes for Social Security and Medicare, with the amount dictated by a worker’s salary and number of dependents. Other deductions that you may have to consider are those for health care and savings programs such as a 401(k)s.

You may want to consider outsourcing this task sooner rather than later in your companies growth cycle.