Accounting Overview

Solution Solvers, LLC offers the following accounting services to assist or run the accounting tasks for your organization. They include full-charge bookkeeping, payroll and tax filings. More descriptive detail of the following are found below.

Full-Charge Bookkeeping

This area includes the full cycle of accounting duties to include the following modules: Accounts Receivable (AR), Accounts Payable (AP), General Ledger (GL), Financial Statements (FS), Inventory, Purchase Orders (PO) and Bank Reconciliations. A breakdown of these modules include the tasks listed below at a minimum:

  • Bill Customers
  • Code and enter Vendor and Expense Invoice
  • Post Journal Entries
  • Statements and Collections
  • Month-End Closing
  • Preparation of documents for tax returns
  • Fixed Assets (FA)
  • Balance Sheet, Profit & Loss, and Cash Flow Statements
  • Creating & Distributing Purchase Orders
  • Ensuring SOX Compliance with Purchasing & Receiving Activities
  • Inventory Control – cycle and physical counts
  • Bank Reconciliations (single or multiple accounts)
  • Job Costing
  • Time and Expense Management
  • Materials Requirement Planning
  • Corporate/Customer Relationship Management
  • Project Management
  • Actual vs. Budget Financial Statement Analysis
  • Various Reports to include Sales, Gross Margins, Quarter-to-Date (QTD) and Year-to-Date (YTD) analysis
  • Ensure Internal Controls are being met within the organization
  • Payroll

Payroll

This area includes compiling and posting employee payroll data; creates and distributes paychecks and all state and federal tax filings such as 940, 941 and W2’s. While this service is also provided above under Full-Charge Bookkeeping, some companies only need assistance in this area alone. A breakdown of this area includes:

  • Compute earnings of workers via their annual salary or timesheet for hours worked
  • Handle direct deposits as well as live payroll checks for distribution
  • Run payroll as scheduled – weekly, bi-weekly, semi-monthly, or monthly
  • Confirm attendance, hours worked, exempt & non-exempt status of employees, and any pay adjustments are confirmed and approved by management with supporting documentation
  • Distribute checks
  • Compute vacation and/or sick time or any other paid leave or paid holidays as per company policy
  • Provide journal entry information to post payroll closed
  • Calculate and include deductions at a minimum for Federal and State income tax withheld and Social Security payments. Can also include insurance, union dues and other employer approved deductions
  • Garnish wages due to child support or IRS interventions
  • Manage bonuses and commissions
  • Handle 401(k) contributions; provide journal entries to be posted

Tax Filings

This area includes tax filings for the following types of returns:

  • Individual
  • Married, filing jointly or separately
  • Sole Proprietor (SP)
  • Rental Income
  • Limited Liability Corporation (LLC)

At this time, corporation (INC) tax filings are not being performed. Check back periodically as this may change in the future.

Once information is received and reviewed, an individual can expect their returns back within a few days, no more than a week, as long as the necessary information is provided timely. A hard copy and electronic copy of the returns are provided to the individual as well as a copy is maintained on my secured external hard drive to retrieve information easily when performing future returns. Fees for the tax filings services are a flat rate charge.