Tax Services Improve the Bookkeeping Process
Bookkeeping is an intricate process requiring the creation and maintenance of journal entries, reconciliations and financial statements. Nordeen Tax Professionals’ bookkeepers are experts in this process and are capable of ensuring the general ledger is free of errors or omissions. Tracking tax expense on the income statement and taxes payable on the balance sheet are critical steps in the bookkeeping process.
Bookkeeping tasks we handle:
- Accounts Receivable
- Accounts Payable
- Monthly Reconciliations
- Track Fixed Assets
- Prepaid Income/Expense Adjustments
- Write Off Bad Debt
- Verify Checks/Invoices are Accounted for
- Review Financial Statements
- Update Budget
- Print/File Financial Statements & Reports
- Close Books
Calculation of tax expense and the associated liability account require careful attention. The Internal Revenue Service (IRS) has very specific, often complex rules for transactions and other recognizable events. The Internal Revenue Code changes with new legislation and leaves tax treatments open to interpretation. Tax requirements and laws are also dependent on business structure and the nature of operations. It is for these reasons that bookkeepers, accountants and other financial professionals rely on tax services for assistance.
Utilizing Nordeen Tax Professionals’ tax service in Augusta GA to prepare tax returns or assist in tax calculations is beneficial for several reasons. Time savings and increased operational efficiency are two major advantages. While Nordeen Tax Professionals concentrates on tax issues, clients can focus on other operational duties or revenue generating activities. Another major benefit is that Nordeen Tax Professionals employ specialists capable of handling complex tax treatments. Small or medium sized businesses may not have a tax expert on staff. Reconciling book and taxable income on tax returns is best handled by an expert.
Our bookkeeping service and tax service work well in collaboration. Our Augusta GA bookkeepers are capable of maintaining the controls associated with posting entries to the general ledger. Our tax service is excellent for tax return preparation and tax related assistance. Operation efficiencies, time savings and waste reduction are all benefits of using Nordeen Tax Professionals in Augusta GA.