Accounts Payable

A customized accounts payable plan will be formulated based on your specific needs. Our full accounts payable services include:

-   Invoice entry from our offices or yours via remote login

-   Credit card statement reconciliation

-   Vendor statement verification

-   Payment of invoices on your behalf

o   Client payments are highly secure when at our offices

o   We will keep an electronic file of your paid bills

-   Client expense tracking

 

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Accounts Receivable

Based on your company’s needs, we will create a customized accounts receivable plan. Our services include:

-   Invoice entry and customer billing. This can be done from our office or remotely from yours, allowing clients to 

    print out bills from the place of business.

-   Receivables statements created and sent

-   Deposits received or made

-   Deposits recorded

 

 

Business Tax Return Preparation

The accountants on our team stay on top of new tax laws and regulations, with continuous coursework and education throughout the year. We prepare business tax returns in all 50 states, and can take the task of taxes off your plate.

 

When you work with Precision Accounting for your company’s taxes, the available services include:

-   Electronic filing for Federal returns (state returns may depend on various governmental entities’ acceptance)

-   IRS and local government liaison and representation

-   Payroll tax report preparation

-   Sales tax return preparation

 

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Financial Statements

If your business has a need to outsource some of the essential accounting tasks, we offer prepared financials including an Income Statement (Profit & Loss) and Balance Sheet.

 

Third-party financials are a separate, a la carte service provided by Precision Accounting, and are not included with the standard business accounting services.

 We will be limited to providing a compilation financial statement which states that we are not independent from your firm. This informs the third party that we perform additional services for your firm. 

 

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Fixed Assets

We offer our business accounting and bookkeeping clients the optional service of a Fixed Asset list, which will be fully maintained by Precision Accounting. 

 

The categories used for this asset list usually includes:

-   Buildings

-   General equipment & machinery

-   Goodwill

-   Land

-   Leasehold improvements

-   Office furniture and equipment

-   Company vehicles

 

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General Ledger

Whether to ensure consistent and accurate records or to ease tax preparation, most small businesses will benefit from having an accounting expert review the books. We give your books a thorough review and then provide you with a final general ledger. Our general ledger service offering includes:

-   Bank account reconciliation

-   Journal entries

-   Financial statement preparation

 

 

Job Costing

Many small businesses are in need of a job costing service. We work with clients like residential builders, real estate developers, homeowners associations, and commercial contractors.

 

Our job costing service helps you to maintain records on each project and property. These records can then be used for tax preparation or the management of property operations.

 

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QuickBooks Coaching

Baffled by QuickBooks, or simply need some coaching to get set up and running? Our QuickBooks Coaching service gives you and your employees a solid foundation of how to best utilize the program for your particular needs.

 

From install to integration, our intensive training will assure the confident operation of QuickBooks—and a more effective, efficient operation.

 

QuickBooks Coaching includes:

-   Installation of software on a standalone computer or across a network for single or multi-user mode

-   Initial setup including

o   EasyStep Interview

o   Lists

o   Customers

o   Banking

o   Preferences

o   Vendors

o   Employees

 

QuickBooks Review

Are you an experienced QuickBooks user in need of some assistance?

We also offer established QuickBooks users a review service, which assesses the current setup and makes changes for optimal results and performance.

 

This service assists companies that have a bookkeeping team for daily accounting and payroll tasks, but require an outsourced accounting and payroll expert to review company transactions, accounts, and reports.

 

The benefits of a QuickBooks Review include:

-   Increased efficiency and accuracy of system

-   Assurance of timely, relevant, and reliable financial data

-   Monthly reviews to ensure timely feedback on your company’s financial health