Bookkeeping: Maintaining accurate records of financial transactions including income, expenses, assets, and liabilities.
Financial Statements Preparation: Compiling financial statements such as balance sheets, income statements, and cash flow statements to assess the financial health of an entity.
Tax Preparation and Planning: Assisting clients in preparing and filing their tax returns, ensuring compliance with relevant tax laws, and providing strategic tax planning advice to minimize tax liabilities.
Payroll Processing: Calculating employee wages, taxes, and deductions, as well as preparing and distributing payroll checks or direct deposits.
Budgeting and Forecasting: Developing budgets and forecasts to help clients plan and manage their finances effectively, including revenue projections, expense planning, and cash flow analysis.
Financial Analysis: Analyzing financial data to provide insights into business performance, identify trends, and make informed decisions.
Audit Support: Assisting clients during financial audits by preparing necessary documentation, conducting internal audits, and ensuring compliance with auditing standards.
Financial Consulting: Providing strategic financial advice and recommendations to help clients improve profitability, manage risk, and achieve their financial goals.
Accounting Software Setup and Training: Setting up accounting software systems such as QuickBooks or Xero, and providing training to clients on how to use them effectively for their accounting needs.
Business Incorporation Services: Assisting entrepreneurs in setting up new businesses, selecting the appropriate business structure, and completing necessary registration and compliance requirements.
Financial Compliance and Regulation: Ensuring clients comply with relevant financial regulations and reporting requirements, such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).
Cash Flow Management: Developing strategies to optimize cash flow, manage working capital, and improve financial liquidity.
Financial Risk Assessment: Identifying and assessing financial risks facing clients' businesses, and recommending risk mitigation strategies.
Specialized Services: Offering specialized services such as forensic accounting, mergers and acquisitions due diligence, or succession planning for family-owned businesses.
Virtual CFO Services: Acting as a virtual Chief Financial Officer for small businesses, providing high-level financial guidance and strategic direction.