ACCOUNTING

Accounting

Business Accounting in Crawford & Erie County, PA

Frequency and scope tailored to fit your needs - Whether you are a large or small company, we can handle your business transactions. We are involved as much as you would like us to be involved, whether it is handling all payables and receivables, or simply recording the transactions that you make.

On and off site service - Are you running short on time putting together your accounting information? We can come by your place of business and work on-site or pick up your documentation and work from our office, whichever is most convenient for you.
Business Accounting Erie County, PA
Business Accounting Crawford County, PA
Just getting started? We can assist in getting your financial system up and running. We are Quickbooks certified and can offer solutions to fit your needs.

Why does your business need accounting services?

  1. Monitor the Financial Success or Failure of Your Business - If you don’t have a clear financial picture, it is difficult to know how well your business is doing. A good financial system provides answers to the questions: Am I making money? Are sales increasing? How do expenditures compare to sales?

  2. Provides the Information You Need to Make Decisions - With every business decision that you make, you should evaluate the financial consequences. You need accurate records and financial information to accurately predict the impact of any action. For example, financial information gives insight as to whether or not it pays to hire another salesperson. Accurate records reveal the profitability of any line item.

  3. Obtain Bank Financing - If you don’t need bank financing, then it’s the perfect time to seek it. The bank will want to see your income statement, balance sheet and tax returns for the most current and prior years, as well as projected statements showing the impact of the requested loan.

  4. Prepare a Budget - All businesses should use budgets for planning purposes. Budgets keep businesses on track by forecasting cash needs and controlling expenditures.

  5. Prepare Your Income Tax Return - No matter what your business entity, you must file an income tax return and pay income taxes. With good records, preparing an accurate tax return will be easier and filing will more likely be done on time. Poor record keeping may result in underpayment or overpayment of your taxes.

  6. Submit Sales Tax - If you collect sales tax, good records make it easy for you to compute the tax due and prepare the required reports. Sales tax must be deposited according to strict deadlines. Late payment of sales tax can result in severe and unnecessary penalties and interest.

  7. Distribute Profits - If your business is a partnership, you will need good records to determine the correct amount of profits to distribute to each partner. If you are operating as a corporation, profits that you will be paying out as dividends or distributions to the shareholders must be determined.
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