Our firm offers a wide range of services to our individual and business clients. Below we have listed the services that we offer to our clients along with a brief description. As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.
Monthly Key Strategic Indicators
Do you know how to unlock the mystery of financial data in your business? Are you able to understand the story behind your numbers? The numbers point us towards what needs to change or be planned for in your business. Monthly we prepare a balance sheet and key strategic indicator reports that solve the mystery. We help you answer questions like:
· Cash: will there be enough? Why isn't there enough? What changes do we need to make in order to have a continual supply to satisfy normal operations? Will profits sustain operations and fund growth? Will I have enough to pay taxes? Should I begin now looking for additional capital?
· Sales: are they increasing or decreasing? Are product margins going up or down? More sales are usually better but not if product margins go down and net income suffers. How can sales be increased? When was the last time I raised prices? What would give me the confidence to raise my prices?
· Wages: are they too high? Are they increasing faster than sales are increasing? Do I have a hiring system and a performance measurement procedure?
· Net Profits: are they increasing or decreasing? If net income is going down while sales are going up, you need to find out why this is happening and what you can do to change it!
Business Development Coaching
Whether lagging cash flow, poor profits, or unrealized goals, a deeper problem always exists than what the outward symptoms suggest. Once we determine your Personality Profile and have compiled up to date Key Strategic Indicator reports, we have the basic tools needed discover the "real" problems in your business. We use our business coaching process to unravel the mystery of your financial data and we create a plan of action with you to reach your goals and solve your business problems.
Income Tax Planning & Preparation
Meaningful planning for tax reduction can only happen if you have accurate, and timely financial statements prepared during your business year. We take your current year financial statements and apply current tax law to make suggestions for you to manage your affairs for the best possible legal tax outcome. You will pay less tax by our process of:
- Initial tax review to match potential tax saving opportunities to your unique situation
- Annual tax planning checkup to review your tax reduction plan effectiveness
- Annual review of income tax withholdings compared to estimated so there are no surprises
- Recommendations tailored for you before your business year ends for paying less tax.
- After the planning process is complete, we look for additional opportunities for tax deductions while preparing your income tax returns.
Payroll Processing Services
Make payday responsibilities a task well done rather than another challenge to face with our basic payroll service package. For clients needing more than payroll processing services, we also offer several additional services a la carte so that you can customize a payroll package that suits your company's unique situation.
Our basic service package includes:
· Online payroll data entry
- Remote check printing
- Online reports
- Cash requirements and deposits report
- Condensed payroll journal
- Depository totals report
- Check register
- Earnings report
- Online employee time entry (via Web Employee)
- Online employee pay stubs, W-2s, W-4s (via Web Employee)
- Online W-4 update capability (via Web Employee)
- New hire reporting
- Employee changes
- Quarterly 941 worksheet
- Quarterly state/local worksheets
- Annual 940 worksheet
- W-2s and 1099s (annual charges apply)
- W-3 federal withholding recap (annual charges apply)
- 1096 Form (annual charges apply)
Additional Payroll Services & Reports
Paper Checks
Clients who prefer not to print their own checks/vouchers may choose to have us print and deliver their payroll checks to them. To protect sensitive paycheck information, checks are issued on high quality self-sealing check stock. Custom logos and signatures also help support your business's unique corporate identity.
Direct Deposit
Many employees are opting for the convenience of direct deposit. This highly valued service eliminates lost or stolen checks and the hassle of reissuing them, improves employee productivity, and saves clients time and money. We comply with all rules and regulations set forth by the National Automated Clearing House Association for moving funds through the ACH Network. Employees can view check stubs online for the utmost in 24/7 convenience.
Tax Filing Service
Why take chances with tax deposit errors that can add up to costly penalty and interest? Let Business in Balance take that worry away. Our Tax Filing Service makes deposit of employment taxes and filing of tax returns safe and easy. We will make your tax payments and file your returns as required by each taxing authority you report to. If we make a mistake, we pay the penalty! We offer:
- Federal/State/Local tax deposits
- Form 940, 941 and 943 filing
- State Withholding and Unemployment Return filing
- Local Tax Return filing
Reports
For clients with special reporting needs we offer the following additional reports:
- 8846 Worksheet
- Accruable Benefits Report
- Deductions Register
- Employee Check Record
- Employee Listing
- Journal Entry Report - Payroll
- Local Withholding Worksheet
- Premium Earnings Report
- Tip Analysis Report
- Wage Register
- Corrected Returns (e.g., 941, W-2s) not due to MPS error
Worker's Compensation
Business in Balance has teamed up with one of the nation's largest and most respected insurance companies, The Hartford, to provide you XactPAY-a hassle free approach to Workers' Compensation. With XactPAY you can pay premiums one payroll at a time giving you maximum control of your Workers' Compensation costs and improving cash flow.
Compare traditional Workers' Compensation premium payment plans to XactPAY:
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Traditional Payment Plans |
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XactPAY |
- Premium based on estimated payrolls
- Large up-front deposits with limited payment terms
- Finance/billing fees
- Large and unbudgeted Audit Adjustments
- Checks to write
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- Premium based on actual payroll
- No down payment (except expense constant & flat assessments)
- No finance/billing fees
- Audit adjustment minimized
- Automatic premium deductions
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Accounting Software Services
Your accounting software system should show you at a glance, where you stand with cash, accounts payable and accounts receivable - its general state of health. A professionally set up and maintained accounting software system will provide a daily guide to running your business. We are CBS (Client Bookkeeping Solutions) and QuickBooks certified. We prefer CBS software because it imports directly into our office as well as back to you with changes.
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