Bookkeeping Services
Bookkeeping: We review and enter all your business income and expense transactions into our computerized bookkeeping system. We enter every transaction appearing on your business bank and credit card statements (including all checks, ATM and EFT transactions) as well as all of your petty cash receipts. We then reconcile all of the bank and credit card statements, classify the income and expenses into appropriate categories using the double entry accounting system, and prepare your business financial statements.
Good records will help you check the progress of your business, prepare your financial statements, identify source of receipts, keep track of deductible expenses, prepare you tax returns, and support items reported on tax returns. There's no substitute for good records. If you do nothing more than put pieces of paper in a box, that's better than nothing. Tax law makes you responsible for proving what income you receive and what deductions you may take. If you don't have records it's not necessarily the end of the world. But you'll find a tax audit much easier if you have them. With only a few exceptions, the law doesn't tell you what records you need to keep. However, the kind of business and its structure will make certain records necessary. Whoever you have helping you with your taxes will be able to help you. They will also tell you how long you need to keep them. You may want to read the IRS publication on record keeping. You may not deduct personal expenses. However, if you have an expense that is part business and part personal, divide the total cost between the business and personal parts. You may deduct the business part. Check out chapter 4 of IRS Publication 535.
Financial Statement Reports
As part of our bookkeeping services, we prepare the following financial statement reports for you: Balance Sheet, Profit and Loss Statement (aka income Statement), Reconciliation Summary and Cash Flow Statements. Other reports can be created as needed. Our business bookkeeping service includes reviews of the financial statements we prepare - scheduled as requested - in your office or via telephone. We prepare and submit your state sales tax filings with the Texas State Comptroller. We will also prepare and process your annual State of Texas Franchise taxes.
PHONE: 210-415-5631
EMAIL: info@mysabookkeeping.com
Payroll Services
Employee Setup: We input your employees information into our computerized payroll system. As part of our full service payroll processing, verify with the IRS that your employees provided you with the correct Social Security number. We also provide guidance as needed for issues such as employee vs contract worker, federal and state wage-hour law, paying employees under federal law, and employment records and payroll recordkeeping.
Full Service Payroll Processing: We create and calculate your employee payroll checks. We transfer the payroll taxes withheld from you employees to the IRS at the required frequency. We also prepare all the quarterly payroll tax returns and the year-end Federal and State Unemployment Returns.
Payroll Check Delivery: We deliver your payroll checks to you for the exact cost we pay the delivery comany/postal service.
W-2 Set-up and Preparation: We preapre the W-2 forms for your employees, the W-3 transmittal for for the Social Security Administration, and send to who you designate.