As a business owner, crunching numbers is not your main responsibility. So let us handle your finances, while you focus on high value business activities that impact your bottom line.
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Transaction recording: Accurately processing and recording all financial transactions, such as income, expenses, and transfers.
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Account reconciliation: Verifying the accuracy of financial records by reconciling them with bank and credit card statements.
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Budgeting and forecasting : Assisting with budgeting and financial forecasting
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Accounts Payable & Receivable: Managing and reconciling accounts payable and accounts receivable
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Financial reporting:Providing regular financial reports to management and stakeholders.
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Quarterly and End of year clean ups
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Quickbooks desktop & online training
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Tax compliance: Preparing and submitting necessary tax returns and documents.
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Note: Specific responsibilities may vary depending on the company's size, industry, and needs.
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Payroll
Let us assist you in growing your business to its full potential partner with Virtual Bookkeeping Solutions today to ensure that you're on the right tract.
VBS can help you in the following areas with Payroll:
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Payroll Processing: Calculating and paying employee salaries, wages, and benefits and ensuring accurate payment.
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Tax compliance: Filing and paying payroll taxes, including federal, state, and local taxes.
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Employee onboarding and setup: Setting up new employee in the payroll system.
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Time and attendance tracking:Managing employee work hours, leave, and absences.
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Benefits and administration:Managing employee benefits, such as health insurance and retirement plans.
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Compliance reporting: Providing reports and documentation to ensure regulatory compliance.
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Garnishment and deduction management: Handling court ordered garnishments and voluntary deductions.
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Year end-processing:Processing W-2's,1099;s and other year-end tax forms.
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Support and customer service: Assisting with payroll-related questions and issues.
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Note: Some payroll services may also offer additional features, such as HR support, worker's compensation insurance, and performance management tools.
Company Set Up
Business Organization &Restructuring
Beneficial Ownership Information(BOI)
Company set up and Business organization and restructuring are a crucial part in ensuring you start off in the right track. We can assist you to achieve faster turnarounds times an ease your documentation burden.
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Business registration: Registering the company with the appropriate state and local authorities.
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Entity selection: Assisting with choosing the right legal structure(e.g., LLC, corporation,partnership.)
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Business licenses and permits: Obtaining necessary licenses and permits to operate legally.
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Tax registration: Registering for federal, state, and local taxes.
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EIN(Employer Identification unique identifier for tax purposes.
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Business bank account setup: Opening a business bank account to separate personal and business finances.
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Compliance requirements: Assisting with meeting ongoing compliance requirements.
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Initial Filings: Completing initial filings with the state and local authorities.
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Beneficial Ownership Information: refers to the process of collecting, verifying , and maintaining information about the ultimate beneficial owners of a company or legal entity. These services included:
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Beneficial Ownership Information(BOI Report): Collecting, verifying, and maintaining information about the ultimate beneficial owners of a company or legal entity.
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Identify the beneficial owners: Determining who ultimately owns or controls the company, such as individuals or other legal entities.
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Collecting and verifying information: Gathering and verifying details like names, addresses, dates of birth, and identification documents.
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Creating and updating BOI reports: Compiling and maintaining reports on beneficial ownership, including changes or updates.
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Maintaining Records: Keeping accurate and up-to-date records of beneficial ownership information.
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