Our Services
At Macomb Bookkeeping, we understand that every business is unique, and so are its financial needs. That’s why we offer tailored solutions designed to fit your specific requirements. Whether you’re a startup looking to establish a solid financial foundation or an established business aiming to streamline operations, our dedicated team is here to help.
We pride ourselves on our commitment to accuracy and transparency, ensuring that you have a clear picture of your financial health at all times. Let us take the burden of bookkeeping off your shoulders so you can focus on what you do best – growing your business. Reach out to us today and discover how our personalized services can make a difference.
Basic Bookkeeping
We document all day-to-day financial transactions, including sales, purchases, receipts, and payments. These transactions are recorded in journals or accounting software, ensuring accurate records of the business’s financial activities.
Accounts Payable (AP) Management
We handle the accounts payable function by managing the company’s outgoing payments. This includes:
- Recording supplier and vendor invoices.
- Ensuring payments are made on time.
- Managing cash flow by tracking and planning for upcoming payments.
Accounts Receivable (AR) Management
We manage the accounts receivable function by ensuring that payments owed to the business are collected on time. This includes:
- Creating and sending invoices to customers or clients.
- Tracking outstanding balances and following up on overdue accounts.
- Managing customer payments and applying them to the correct accounts.
Bank Reconciliation
We regularly reconcile the company’s bank statements with its accounting records. This process involves matching the recorded transactions with the actual bank transactions to identify and resolve any discrepancies, ensuring accuracy in cash balances.
Payroll Processing
We manage payroll processing by:
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- Calculating employee salaries and wages.
- Withholding taxes and other deductions (e.g., health insurance, retirement contributions).
- Issuing paychecks or direct deposits.
- Ensuring compliance with tax laws and filing payroll tax reports.
- Preparing year-end forms like W-2s and 1099s.
Expense Tracking and Categorization
We track and categorize all business expenses to ensure accurate financial reporting. This includes recording expenses related to rent, utilities, travel, supplies, and more, organizing them into appropriate categories for reporting and tax purposes.
Financial Reporting
We generate essential financial reports to provide insights into the business’s financial health. Common reports include:
- Income Statement (Profit & Loss Statement): Shows revenues, costs, and profits over a specific period.
- Balance Sheet: Provides a snapshot of the business’s assets, liabilities, and equity.
- Cash Flow Statement: Tracks the inflow and outflow of cash within the business.
Tax Preparation Support
We assist with tax preparation by organizing financial records and ensuring that all transactions are recorded correctly for tax purposes.
Invoicing and Billing
We handle the creation and distribution of customer invoices. We also track which invoices are paid or unpaid, helping the business manage its cash flow more efficiently.
Inventory Management Support
We can track and manage inventory levels by recording inventory purchases, sales, and adjustments. This helps ensure the accuracy of financial statements and cost tracking.
Software Setup and Support
We often help businesses set up accounting software like QuickBooks, Xero, or FreshBooks. We offer ongoing support to ensure the software runs smoothly and meets the business’s financial tracking needs.
Get in Touch with Macomb Bookkeeping