Current financial statements are the best tool for business owners to use throughout the year to monitor income and expenses. Many companies don’t have the resources to prepare these reports internally, or they have a bank or other third party user who requires them to have financial statements prepared by an external accountant. Ragland & Cochran CPAS specializes in assisting you with compiled financial statements. In addition to the standard balance sheet and income statement, we can develop reports to compare multiple years or budgeted financial statements to help you better monitor variances in expense categories.
Training of your accounting personnel
Ragland & Cochran CPAS can assist in training your accounting personnel in general accounting practices or in specialized tasks. We can review the information that your current staff is providing to you in order to ensure that the information is accurate. Rather than just “going through the motions” of preparing internal reports each month, we can help your staff make you more successful.
Accounts Receivable/Recording of Deposits
Ragland & Cochran CPAS can work with you and your staff to ensure correct recording of accounts receivable and deposits to your bank accounts. We can clean up your accounts receivable posting errors so you know who owes you what. We can assist with proper cut-off at year end and on interim financials so that your financial reports accurately reflect receipts in the proper period.
Need help getting your invoices entered and out the door? We are your solution. Our staff will assist with your billing process so that money owed to you can be collected quicker.
Bill Payment Services
Ragland & Cochran CPAS offers bill payment services for our clients. We can utilize our accounting system or work with yours – at your business location or in our offices. We can enter the bill detail and make sure they are coded to the correct general ledger accounts. You can control the timing of payments and direct what items are paid and when. We just do the detail work so you can stay focused on what makes you money.
Calculation of payroll tax deposits
Ragland & Cochran CPAS can help you determine the amount of tax deposit for your internally prepared payroll. The IRS is constantly changing payroll tax amounts and filing deadlines. Many clients are shocked to find a tax notice in their mailbox for underpayment or late payment of taxes. Payroll taxes are the source of most IRS notices.
Let us help you stay in compliance by calculating the timing and amount of your federal, state and local tax payments and the preparation of your tax forms each month and quarter.
We can also prepare W-2’s and 1099’s for your employees and contractors each year.
Reconciliation of bank and credit card accounts
Many small business owners find preparing the monthly reconciliation of bank and credit card accounts a daunting task. Our experienced staff can help you keep your accounts reconciled and allow you to stay focused on being productive. We can provide these services at your location, or through remote access. You can rest easy knowing that the bank balance in your accounting system is reconciled to the bank activity each month.
Accurate recording of expenses charged on company credit cards creates a problem for many business owners. This is especially true when the balance on the card is not paid in full each month. We can train you how to enter the credit card transactions in your accounting system, or we can make the necessary entries for you. Performing this function correctly will allow these expenses to be treated properly on your year-end tax return.
Data entry and trouble shooting for your internal accounting programs
When trouble strikes, and you realize that you have a problem with your accounting reports, we can help you find the solution. We have many years experience with Quickbooks, PeachTree and many other accounting programs. We can assist you with day-to-day data entry. We have a Quickbooks Pro Advisor on staff to help with any complex issues and to train you how to fix these issues yourself.
State and Local Sales Tax Returns
Many small businesses file their own sales and use tax returns. Due to complex and ever-changing tax laws in each state, this can be a daunting experience for the average bookkeeper. We can help to ensure sales tax filings are accurate and assist your bookkeeper in meeting the online filing requirements the states have implemented.