At Mitchell & Associates, we understand there are many things business owners need to focus on in order to ensure success for their business. Therefore, as a small business owner, it sometimes seems like you are being pulled in a million directions with a never-ending list of items requiring your attention.
Lighten your load a little and let us take care of the complex and tedious tasks associated with payroll and accounting so you can get back to the job of running a business and generating a profit.
We can provide your business with detailed bookkeeping services to help you record and manage your daily business transactions. Our services include several items associated with bill paying and check writing, customer invoicing and receiving deposits, income and expense tracking and analysis, bank statement and credit card reconciliation, general ledger maintenance and depreciation schedule reports. If you need assistance in just one or two areas, or if you need a full range of bookkeeping services, we can customize our services to meet your needs in order to allow you to concentrate on other aspects of managing your business.
- Maintaining a complete general ledger
- Bank reconciliations
- Receivables: billing and collections
- Payables: recording and paying
Payroll – piece of cake, right? How hard can it be to simply take hours worked and multiply it by the rate of pay? It may seem straightforward, but even the most seasoned and experienced business owners may find themselves in a pickle over payroll. After all, there are a lot of rules and regulations at the federal, state and local levels related to labor laws as well as paying and filing timely payroll tax returns.
Studies show that the average small business owner spends one to five hours every time they process payroll. Studies further state that on average, 40% of small employers make a payroll mistake each year, costing themselves fines and penalties averaging $850.
However, that’s not going to be you, is it? You have the time and you’re smart enough that you won’t make a mistake. That’s what many believe, but it still happens to them, and usually, the price to fix the mistake combined with the interest and penalties will cost you more than if you had just hired a payroll professional – someone who is knowledgeable about payroll and processes payroll regularly – a lot of payroll.
Our firm offers a complete range of payroll processing and payroll tax reporting services. With electronic tax filing and payment capabilities and direct deposit services, we can offer you a variety of resources to help ease the payroll administration burden on your end. Our payroll team prepares all federal, state and local payroll tax returns, processes payments of employee withholdings and tracks and monitors time-off accruals. We offer you and your employees the national-firm services you need but with a personal touch to do things in the most helpful way for you.
- Payroll processing
- Payroll tax return preparation
- W-2 processing
- Calculation of taxable fringe benefits
- Electronic filing and payment of federal, state and local taxes (where available)
- Payroll cost analysis
- Time-off accrual and tracking
- Transfer and allocation of other withholdings (such as 401(k), insurance premiums, garnishments and Christmas clubs)
- Accounting and tracking of employee loans
Beyond traditional bookkeeping and financial statements, we can provide you with a variety of other reports and services to serve your business management needs. Examples of financial reports you might consider are detailed general ledgers, payroll journals and bank reconciliations.
Other services you may request under the accounting umbrella include:
- Accounting software training and consulting
- Occupational, tangible personal property, sales and use tax return preparation
- Form 1099-Series preparation
- Assistance with workers’ compensation and general liability insurance audits
These tasks make for a solid foundation of your small business accounting system. You can customize the package of services you receive. We will do as much or as little as you need – whatever you require because our team cares about your success.