Accounting Services
Massanutten Financial Services offers these Accounting services to our clients:
- Business start-up
- QuickBooks training
- Payroll
- Bookkeeping
- Financial statements
Business Start-up
We can help you make the critical decisions and assist you in understanding the many requirements related to owning your own business. When you start your business the first decision is the form of the business: sole proprietorship, partnership, Limited Liability Corporation (LLC), S Corporation (subchapter "S" Corporation), or C Corporation. There are significant tax implications to the form you choose and as every business is unique, there is no single answer for each case.
After that we can help you with capitalization issues, help you understand registration and licensing requirements, liability and workers compensation insurance issues, tax and reporting requirements, and finally establish a bookkeeping system.
QuickBooks Training
Once QuickBooks is set-up and working properly, we can train you or your employees to properly operate QuickBooks specifically for your business. We provide one-on-one attention at your location instead of taking a class at a remote site, which allows us to:
- Focus on the individual issues facing your business
- Answer your specific questions and concerns using your books as a reference
- No need to spend time on features that don’t impact your business!
Payroll
When you're busy doing what has to be done to keep your business operating smoothly and profitably, it's sometimes difficult to find the time to complete your payroll tasks in a timely manner. Your employees, however, expect to be paid on time and expect their deductions to be handled properly. We can handle your payroll for you including all of the necessary reporting and periodic payment of deductions. Our payroll services include the following:
- Set-up employees per W-4 with salary or hourly rates as provided. Year-to-date information will be entered from your prior payroll reports.
- Preparation of payroll as desired: weekly, bi-weekly, semi-monthly, or monthly
- Print actual checks
- Prepare monthly payroll tax deposits
- Prepare quarterly payroll reports
- Prepare annual payroll reports including W-2's
Bookkeeping
If you own a small business and haven't kept up your bookkeeping, don't worry, we can help you. We'll update your books, prepare your financial statements, and at the end of the year, complete your Schedule C or other business form, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in great shape next year.
Financial Statements
Do you know if your business is making money? Do you know how you're spending your money? This information and more is easily found in financial reports that are created by your accounting software. We can help by preparing financial statements and then we'll explain what each means so you can understand exactly where your business is financially.
The most important financial statements are the income (or profit and loss) statement and the balance sheet. The income statement basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period while the balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.
