Bookkeeping & Payroll

Accounts Receivable. If your company sells products or services and doesn’t collect payment immediately you have “receivables” and you must track Accounts Receivable. This is money due from customers, and keeping it up to date is critical to be sure that you send timely and accurate bills or invoices.

  • Commercial & Government Accounts.

Accounts Payable. No one likes to send money out of the business.  But it’s a little less painful if you have a clear view of everything via your Accounts Payable.  Good bookkeeping helps assure timely payments and – importantly – that you don’t pay anyone twice.  Paying bills early can also qualify your business for discounts.

 

Payroll in the sense of "money paid to employees" plays a major role in a company for several reasons. From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and because they are subject to laws and regulations (e.g. in the US, payroll is subject to federal, state, and local regulations).

Reconcile bank and credit card accounts is the process of matching transactions you entered in QuickBooks with your bank or credit card company’s records. It is highly recommended that you reconcile your bank/credit card accounts in QuickBooks on a regular basis to ensure accuracy of your accounting records. More specifically, reconciliation helps ensure that:

  • All your transactions such as payments, deposits, and bank fees are accounted for in QuickBooks.
     

  • All transactions in your QuickBooks bank register, as well as its ending balance, match what you have in your actual bank account.

Financial statements - Balance sheets, income statements, and payroll summaries are essential documents. Ask us about various scheduling options, including monthly, quarterly, and annual.

 

Sales Tax Reporting is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase.

Payroll Tax Reporting is a tax that an employer withholds from an employee's salary and pays on behalf of his employees. The payroll tax is based on the wage or salary of the employee.

Estimated Tax Reporting is a method of paying tax on income that is not subject to withholding tax. This can include income from self-employment, business earnings, interest, rent, dividends and other sources. The IRS requires estimated tax to be paid quarterly, typically in 4 equal installments. If you underpay your estimated tax, you will have to write a bigger check to the IRS when you file your tax return. If you overpay your estimated tax, you will receive the excess amount as a tax refund (similar to how withholding tax works).

 

 

 

 

Integrity Lion Acquisitions is also a QuickBooks authorized reseller

If your company is looking for QuickBooks desktop. Give us a call at

(913) 980-0853 to save up to 20%.

Integrity Lion Acquisitions, LLC provides bookkeeping services, and payroll.

Disclaimer: "this firm is not a CPA firm."

This disclaimer is IAW to Texas Law See Board Rule 501.81(d).