WHY YOU SHOULD CHOOSE FULL-CHARGE BOOKKEEPING SERVICES

Why Full-Charge Bookkeeping is the Best Option for Your Business

charts-graphs-accounting-full-charge-bookkeeping

Full-Charge Bookkeepers do more for your day-to-day financial operations than a controller, accountant, or CPA.

A FCB manages all relationships that pertain to your finances. This includes overseeing inventory expenses, payroll, and billing.

Not only will your FCB produce general financial statements, they can also generate reports for budgeting and financial forecasting, which creates an opportunity for growth.

Full-Charge Bookkeepers will reconcile your monthly bank statements. You can also count on them to oversee all bank deposits, petty cash transactions, lines of credit, and credit card accounts.

A FCB can help prepare monthly and quarterly taxes. This significantly reduces the amount of time a CPA will need to spend on your taxes, saving your business money.

A Quick Look at the Tasks and Duties of Full-Charge Bookkeeping Compared to a Controller, Accountant, and CPA

  • Full-Charge Bookkeeper
  • Controller
  • Accountant
  • CPA
Full-Charge Bookkeeper

Delegate End-To-End Accounting Needs

Oversee Current Accounting Staff

Coordinate With CPA

Inventory Management

Manage Petty Cash

Bookkeeping Cleanup

Monitor Cash Flow

General Ledger Maintenance

Issue Payments For Your Suppliers

Complex Transactions

Tax Planning Advice

Pay Taxes

Sales Tax

Prepare Tax Return

Process Payroll, W-2's, and Yearend 1099's

Monthly, Quarterly, Semi-Annual or Annual Budgeting

Produce Invoices

Adjusting Journal Entries

Accounts Receivable/Accounts Payable

Bank Account Reconciliation

Prepare Financial Statements

Produce Financial Reports

Audit Financial Statements

Controller

Delegate End-To-End Accounting Needs

Oversee Current Accounting Staff

Coordinate With CPA

Inventory Management

Manage Petty Cash

Bookkeeping Cleanup

Monitor Cash Flow

General Ledger Maintenance

Issue Payments For Your Suppliers

Complex Transactions

Tax Planning Advice

Pay Taxes

Sales Tax

Prepare Tax Return

Process Payroll, W-2's, and Yearend 1099's

Monthly, Quarterly, Semi-Annual or Annual Budgeting

Produce Invoices

Adjusting Journal Entries

Accounts Receivable/Accounts Payable

Bank Account Reconciliation

Prepare Financial Statements

Produce Financial Reports

Audit Financial Statements

Accountant

Delegate End-To-End Accounting Needs

Oversee Current Accounting Staff

Coordinate With CPA

Inventory Management

Manage Petty Cash

Bookkeeping Cleanup

Monitor Cash Flow

General Ledger Maintenance

Issue Payments For Your Suppliers

Complex Transactions

Tax Planning Advice

Pay Taxes

Sales Tax

Prepare Tax Return

Process Payroll, W-2's, and Yearend 1099's

Monthly, Quarterly, Semi-Annual or Annual Budgeting

Produce Invoices

Adjusting Journal Entries

Accounts Receivable/Accounts Payable

Bank Account Reconciliation

Prepare Financial Statements

Produce Financial Reports

Audit Financial Statements

CPA

Delegate End-To-End Accounting Needs

Oversee Current Accounting Staff

Coordinate With CPA

Inventory Management

Manage Petty Cash

Bookkeeping Cleanup

Monitor Cash Flow

General Ledger Maintenance

Issue Payments For Your Suppliers

Complex Transactions

Tax Planning Advice

Pay Taxes

Sales Tax

Prepare Tax Return

Process Payroll, W-2's, and Yearend 1099's

Monthly, Quarterly, Semi-Annual or Annual Budgeting

Produce Invoices

Adjusting Journal Entries

Accounts Receivable/Accounts Payable

Bank Account Reconciliation

Prepare Financial Statements

Produce Financial Reports

Audit Financial Statements

In A Survey Conducted, Here Are the Top Accounting Challenges Faced by

Small to Mid-Sized Businesses

Accounts Receivable

0 %

Cash Flow

0 %

General Paperwork

0 %

Month-End Closing

0 %

Payroll Management

0 %
accountant-queen-creek-arizona

An Overview of Full-Charge Bookkeeping Services

As the name suggests, a full-charge bookkeeper performs the bookkeeping duties for your business without you having to hire an accountant. They work in conjunction with a certified public accountant to prepare your company's books. As a result, he or she will have access to the latest tax laws and legislation. You can also choose to have a full-charge bookkeeper perform payroll and tax-related tasks on your behalf. 

Full-charge bookkeepers are responsible for the management of the general ledger, which is the most important document in a business. Each transaction must be recorded in the general ledger, and these entries must be reviewed at the end of each month. A full-charge bookkeeper must be able to work with accounting software and understand the company's internal processes. Therefore, this process involves the analysis of each entry. It also involves the preparation of financial statements, tax returns, and accounts payable. FCB's also manage client accounts and complete accounting cycles for businesses. Despite the high level of responsibility, full-charge bookkeepers do not require much time.

Full-charge bookkeepers are the best choice for businesses that need help with their accounting. Unlike an in-house bookkeeper, they will take care of all the accounting tasks for your business. This ensures that your business is operating efficiently and is profitable. In fact, full-charge bookkeepers can make all the necessary changes to your company's books while keeping you informed every step of the way. At Epic Arizona Accounting Services, we offer several different plans to meet the needs of your company. Whether you are a small or mid-sized business, we have the right package to fit your needs.

BANK ACCOUNT EXAMINATION

Reconcile Bank Accounts

bank-account-and-statements-full-charge-bookkeeping

One of the first tasks we'll complete is the reconciliation of your business bank accounts. If you had previously tracked your finances by spreadsheet, we'll install and set up appropriate accounting software prior to beginning this process. If you currently use accounting software, we'll pick up where you left off while applying general maintenance practices.

To reconcile bank accounts, we'll begin by comparing deposits and examining your bank statements. This is done to ensure all deposits on each statement have been applied to your personal records. We'll then cross-examine to ensure these records are also present in your bank statements.

Following your bank statements and personal records examination, we'll move on to compare your withdrawals. This will confirm that both personal records and bank statements align with these transactions. If there are any adjustments needed, we will make note of these changes within your records.

tracking-finances-full-charge-bookkeeping

DOCUMENTATION OF INBOUND AND OUTBOUND FUNDS

Manage Accounts Receivable and Accounts Payable

The next thing we'll do is manage your accounts receivable to make sure any money owed to your business is in place and properly documented. This information will be translated into your general ledger and be added as an asset on your balance sheet.

 

We pay close attention to your accounts payable, managing debt your business may owe suppliers, vendors, or any third-party services. Our team will process payments, record payment information in your general ledger, check invoices for accuracy, include vendor purchase information, and categorize data in your chart of accounts. We take an in-depth look into third-party invoices and document contact information, payment terms, products or services provided, and purchase order numbers. This helps us confirm that you're getting what you paid for.

PAYROLL TAXES

Full-Charge Bookkeeping Services can Assist with Payroll

payroll-tax-services

We’ll work with your current payroll company to ensure employee tax returns are administered properly. Depending on your current system, you may need us to process and distribute W-2s, year-end 1099’s, and file forms 940, 941, W3, and 1096. We tailor a plan to meet our client’s payroll needs, making your system even more effortless.

EAAS has partnered with ADP, utilizing their payroll solutions as our preferred choice. ADP offers simple services for small businesses. Additionally, there are toolkits for larger companies that may be in need of human resources.

Our hands-on approach includes calculating and processing payroll on a weekly, biweekly, and monthly basis. We may also generate quarterly and annual reports as we handle payroll taxes. We’ll keep you informed every step of the way, so you can rest assured.

reconcile-bank-accounts-full-charge-bookkeeping

BALANCE SHEETS, CASH FLOW STATEMENTS, AND INCOME STATEMENTS

Prepare Financial Statements

Financial statements are important for small businesses and potential investors, which is why we handle them with the utmost care. These statements will reflect the financial health of your business, which is detailed through your balance sheet, cash flow statements, and income statements.

Your balance sheet will include a formula for your assets, which equals total equity plus liabilities. This equation will continue to change in real-time as we continuously modify your statements and bring them up to date.

We'll then formulate a cash flow statement that reflects your business's financial operations. Your cash flow statement will include your operating, investing, and financing activities.

Lastly, we'll produce your income statement, which demonstrates your net income. Based on your business's unique requirements, we may produce your income statement on a monthly, quarterly, or annual basis.

PREVENTING AUDITS

Full-Charge Bookkeeping Services Ensures Tax Compliance

At EAAS, tax compliance is a top priority. If your business fails to comply with tax laws, the IRS could audit your books. Some audits can last anywhere from months to years, potentially creating a hardship for your business.

We're here to make sure you comply with employer and federal tax requirements at all times, thereby adding an extra layer of protection to your business.

LARGER RETURNS

Full-Charge Bookkeeping Services Handles Tax Preparation

Tax laws are so complex that it can sometimes be difficult to file a simple return. Without having an experienced eye, it is easy to overlook deductions and credits. Computer software programs can not replace the expertise of a tax professional.

 

Our adaptability within any industry is only a small fraction of what we have to offer. At EAAS, we’ll do everything we can to help you receive a larger tax return.

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