Small Business Bookkeeping in Cleveland Ohio

Small Business Bookkeeping in Cleveland Ohio

Small Business Bookkeeping in Cleveland Ohio: 

Karen Richards was kind enough to provide a great review for Park East Bookkeeping Services.

She was impressed with the competitive advantage we provide our customers.

The advantages of Park East Bookkeeping include:

  • Quality work is done on schedule
  • Affordable pricing
  • Easy credit terms
  • Free Pick up and Delivery of documents
  • Document Security
  • Professionalism
  • No Staffing issues
  • No Benefits to Pay
  • No mistakes in the work
  • Don’t need a full-time bookkeeper or part time, bookkeeper
  • We work in 100s of industries
  • Professional bookkeepers and accountants on staff
  • Fast Call Backs
  • Easy sign-up 

Bookkeeping Duties we perform:

The most common bookkeeping tasks and duties, broken down by week, month, quarter and year. May be used as the basis for a checklist, procedures manual or bookkeeper job description after customizing for your specific business or organization.

Weekly or every two weeks

  • Enter deposits and payments
  • Enter payables and receivables
  • Pay any bills due
  • Enter payroll/create payroll checks
  • Update employee benefits information if benefits are pro-rated against actual hours worked
  • Deposit Federal payroll taxes and withholdings (if a semi-monthly depositor)
  • Mail requests for I-9’s and/or certificates of insurance to new subcontractors (note on bill to hold payment against return of paperwork)
  • Follow up on any past due accounts

Monthly

  • Deposit Federal payroll taxes and withholdings (if a monthly depositor)
  • Deposit State payroll withholdings (if a monthly depositor)
  • Enter principle and interest on any loan payments
  • Review vendors for expired certificates of insurance and request updated information
  • If collecting sales tax, review resale and nontax customers for any missing or expired ST-4 or ST-5 forms and request updated information
  • Report and pay any retirement benefits withheld from employee paychecks during the previous month
  • Review A/R and create customer statements or mail reminder invoices as needed
  • Review A/P statements against possible missing or past due invoices to be paid
  • Reconcile and pay sales and/or meals tax (monthly filers only)
  • Reconcile all bank and credit card accounts
  • Create/review monthly profit and loss and balance sheet statements
  • Create/review monthly inventory, sales, and other reports
  • (Nonprofits & some for-profits) Do monthly cost allocations
  • If you pay estimated taxes, set aside 20-30% of net monthly profit in savings account for estimated or year-end taxes

Quarterly

  • Prepare all quarterly payroll reports, including 941’s, WR-1’s, SUTA, etc. and pay any balance due
  • If FUTA exceeds the threshold for annual filing, file and pay FUTA tax
  • Reconcile payroll liability accounts against quarterly reports
  • Deposit Federal and State payroll taxes and withholdings (if a quarterly depositor)
  • Reconcile and pay sales and/or meals tax (quarterly filers only)
  • Create/review quarterly profit and loss and balance sheet statements
  • Create/review quarterly inventory and sales reports
  • (Nonprofits & some for-profits) Do quarterly cost allocations
  • If you pay estimated taxes, make your quarterly payment

Annually

  • Prepare all year-end payroll and vendor statements, including W-2’s, W-3’s, 1099’s, 1096’s, etc.
  • File and pay FUTA (form 940)
  • File and pay sales or meals taxes (if an annual filer)
  • Verify and update employee withholding and address information
  • Review employee benefits programs/update employee information
  • Review vendors and services (telephone or internet service providers, credit cards, etc.)
  • Update year-end inventory and capital assets in the books
  • (Nonprofits only) review the status of any restricted grants; prepare reports for funding sources as necessary
  • (Nonprofits only) review overhead expense allocations (Management & General, Development, Program) and adjust as needed
  • Review company insurance coverage against inventory value, potential liabilities or increased revenue
  • (Massachusetts) Update form of list for your town’s ’personal property tax’
  • Prepare materials for workers’ comp insurance audit
  • Prepare materials for liability insurance audit
  • Review status of any owner loan accounts
  • Prepare materials for accountant

Contact us to learn more:

  • Phone 440 533 9224