MS BOOKKEEPING SERVICES - Bookkeeping for Small Businesses
RSS

Recent Posts

1099's
August check in
Mid Year catch up
Mid year check up
Year End Work

Most Popular Posts

Bookkeeping Tips
Reconcile those accounts
Year End Accounting
W-2 and 1099 Filing
Taxes

Categories

Bookkeeping Tips
End of Year
Payroll Taxes
Tax Preparation
powered by

My Blog

1099's

Hello,
It is that time of year again for 1099 filing.
Be sure that you have reconciled the month of Dec. bank statements and credit card statements before running your 1099 report.

Also, make sure all EIN and Social Security numbers are correct and addresses are current before running 1099's.

As always, if you need any help with 1099's please give us a call.


August check in

Well here it is August 1st.
I hope everyone is doing a good job of reconciling all of their information with the Bank Statements and Credit Card Statements.
Last month was the deadline for quarterly payroll tax reporting.  I hope everyone met that deadline.
Now is a good time to look at your net income and put some money aside for estimated taxes, so you don't have this huge amount to pay at the end of the year.
As always if you need any help with any of this I am here to help you.  Also, if you don't know what I mean by reconciling just ask me.
Have a great month!
Maria

Mid Year catch up

This is just a quick note to see how things are going.
It is almost July, do you have all of your bank statements and credit card statements reconciled through May?  Now is a good time to get caught up on that so it is not a rush at the end of the year.
 
Also a reminder, 2nd quarter is quickly coming to a close.  July will be time to file and pay those quarterly payroll tax reports.
 
If you ever need help or have any questions please feel free to call.  I enjoy helping people keep their books organized and up to date.
 
Have a great rest of June.
 
Maria

Mid year check up

This is for all of those small business owners.
It is almost June, have you reconciled all of your bank statements and credit card statements for the year so far?  You need to make sure everything that is on your statements is also in your Quick Books file.  By doing this now it will make it easier at the end of the year to get ready for your CPA and taxes.
 
Other things to be staying on top of:
 
Sales tax reporting and payments
Payroll tax payments
 
Also, now would be a really good time to make sure all of your employees and contract labor people have given you their social security/EIN numbers and correct address.  This is easier to do now than at the last minute for end of the year W2 and 1099 filing.
 
I wish all of you a prosperous rest of your year.
 
If you need any help with your bookkeeping needs please give me a call.  I am here to help.

Year End Work

Well, it is almost April 15th!
Hopefully all you small business owners have everything gathered up and ready for your CPA or tax preparer.
Here is a list of what you will need for your CPA or tax preparer, of course your CPA or tax preparer will probably have questions and add to this but this is a start.
 
A Jan - Dec  Profit and Loss Statement (with all bank accounts and credit card accounts reconciled)
 
A Dec 31st Balance Sheet
 
A copy of any 1099's that your company has sent out
 
If you have payroll:
 
A copy of any W2's that your company has sent out
A copy of all quarterly payroll tax filing
 
If anyone has any questions as to what these reports are or needs help getting these reports please feel free to ask me.  I will do my best to provide what help you need.
 
 

Reconcile those accounts

The one thing I see that business owners are not doing is reconciling the bank statements and the credit card statements.
The only way to catch any mistakes, things left out or duplicates of an entry, is to reconcile.
In order to reconcile you must have a copy of your bank statement to work with.
If anyone has any questions I would be happy to answer them regarding this or any other bookkeeping need.
Maria

Year End

After everything is reconciled for the year, don't forget W-2's and 1099's still need to be processed in Jan.  Be sure everyone's social security number or EIN (employer identification number) are correct and that you have the most current address for each employee and contract laborer.

Year End Accounting

It is getting to be that time of year again.  Things to think about for year end:
 
  • Make sure all employees addresses and social security numbers are correct in your bookkeeping system.
  • Make sure all Contract labor personnel addresses and EIN/Social Security numbers are correct in your bookkeeping system.
  • Reconcile all bank statements and credit card statements for the year.
  • Enter all additional expenses that are not on the bank statement or credit card statement in your bookkeeping system.
  • Check with your CPA to see if there is anything specific to your industry that needs to be accounted for.
 
With this list you should be ready to give your CPA your financial statements.  If there as anything that MS Bookkeeping Services can do to help with any or all of these tasks please give us a call @952-451-1722

Quarterly Payroll Tax filing

Here it is September 9th.  Payroll taxes are due next week.  In October Quarterly Payroll tax returns need to be filed.
If you need help filling out these returns or making sure you are paying the correct amounts give me a call or send me an email.  I am in the business of helping people.

Taxes

Ok, so it is now March.  Deadline for yearly tax return is April 15, it may be extended by a few days this year.  Keep on top of your quarterly payroll tax reporting that is due April 15.  If I can be of assistance with getting your business ready for your CPA's requirements for tax filing or filing the quarterly payroll tax reports, please call me, I will gladly assist you.
Website Builder provided by  Vistaprint