Outsourced Accounting Services
As a business owner, it’s critical to have a strong accounting system in place, but it’s not always practical to hire in-house accountants. The cost of in-house accounting consists of not only salary, but additional direct costs including payroll taxes, worker’s compensation, employee benefits, and training costs. Kauffman|Kim, LLP understands the burden and our outsourced accounting service provides customized and cost-effective accounting solutions to businesses across numerous industries at a fixed-fee basis. Not only are we business accountants, but we’re advisers and consultants who provide finest accounting services along with data and analysis to assist you successfully grow your business. Ready to simplify accounting? Contact Kauffman|Kim, LLP in Columbia, MD today.
Services include, but are not limited to:
a. Preparing financial statements, including balance sheets, and income statements (“P&Ls”)
b. Reconciling your bank accounts
c. Managing your accounts payables from invoice verification to remitting payments, to resolving billing disputes
d. Managing your accounts receivable from invoicing companies and clients, to depositing payments, to resolving billing disputes,and even working with an affiliated law firm to collect delinquent receivables
e. Managing payroll, including working with other affiliated professionals to provide a full-service, outsourced HR solution including employee benefits
f. Analyzing financial information to detect growth and profitable opportunities and communicating the findings to management
g. Working with an affiliated law firm to represent you before government agencies like IRS, DOL, and Maryland Comptroller’s Office
h. Providing management advisory services and financial analyses, including working with IT and other affiliated professionals to address almost any challenge your business encounters
We organize business transactions into financial statements for owners, investors, and other stakeholders to enhance the transparency of the entity’s financials. We customize financial reports based on each client’s needs, whether it’s for tracking profit, business planning, tax preparation, or reporting requirements to investors/banks.
As an employer, it’s your responsibility to pay employees and therefore, payroll is an essential function of any business. From payroll processing, taxation, state/IRS filings, to year-end forms, we ensure everything is filed correctly and timely, or we pay the penalty.
The compilation is presenting financial information in the form of financial statements without providing any assurance or opinion on the financial statements. Whether it’s for obtaining a loan, selling your business, merging with a business, or informing stakeholders, you can assure the compilation report will be prepared timely and without any bias.
New Business Formation
- Consultation to select the best entity
- Entity formation
- Obtain tax ID
- Business license
- Tax and unemployment accounts
- Trade name
- S Corporation Election (if needed)