Accounting and Payroll Services


	Here at Black & Associates we specialize in providing cost effective and comprehensive accounting and payroll services to small business owners and managers. Jelena S. Black, a founding partner at BAA, is a Certified Public Accountant (CPA) and a member of the American Institute of Certified Public Accountants (AICPA). The diagram below outlines the accounting and payroll processes we use with many of our business clients. Clicking on each section will take you to a brief description of each step in the process. OUR ACCOUNTING AND PAYROLL PROCESS ACCOUNTING SERVICES QuickBooks Setup & Training As a new business owner, it may be a daunting task to set up your accounting system. Because Intuit has the largest market share, most of our clients use QuickBooks. However, there are a handful of other accounting programs available that we work with as well. We will discuss with you the accounting software options available and which one would probably work best for your company. Once this is determined, we will create and setup the software file based on how you conduct business. When we are finished with your file, we will set up a follow up appointment to come out and incorporate the software on your computer and provide onsite one-on-one training if you need it. This is a good time to pull out your actual checks, bank statements, receipts from customers, etc., which we will ask you to use during our hands-on training. We believe this approach is much more useful to you, than having you run through generic company data during training. Bookkeeping & Financial Statement Preparation We can provide bookkeeping services and prepare financial statements for you either monthly, quarterly, annually, or on an as-needed basis. The amount of day-to-day activity you have and the volume of financial data in your accounting software usually dictates how often we review your books for you and how often we prepare financial statements for the business. Oftentimes these services are required only during certain times of the year, for example, when obtaining a business line of credit or some other type of financing where the banks require formal financial statements with your loan package. For those times where you are required to present Reviewed or Audited financial statements, for example when obtaining bonding for a construction project or you are admitting a new partner to your business, we can conduct a formal review or audit of your books and issue financial statements accordingly. Sales Tax Preparation If you are a business that provides services and sells goods, whether you purchase and install hardware as an IT consultant or you produce components or finished products in a manufacturing company, you will be required to report your sales to the California State Board of Equalization (SBOE). Many business owners make the mistake of believing they do not have reporting requirements if they are only resellers. Quite the contrary. The SBOE has strict requirements in reporting resale sales, internet sales, inter- and intra-state sales, service revenue, etc. You may or may not owe tax, but you will still have to accurately report your revenue. To help you do this, we will review your accounting software and the reports it generates to be sure your sales tax codes are properly set up so that the revenue you generate is properly reported to the SBOE. It is very common for businesses to over pay OR under pay their sales tax liabilities. The SBOE is certainly not a stranger to conducting audits knowing sales tax reporting is often done incorrectly. That is why we will also prepare your sales tax returns depending on your reporting requirements, either on a monthly, quarterly, or annual basis. Management Advisory Services As a business owner, you are very well aware of all those items that pop up throughout the course of running a business that may not neatly fall into an accounting-related question or a tax-related question . Management Advisory Services encompass a wide array of issues that business owners and entrepreneurs encounter. When it’s time to replace your vehicle, should you lease it or buy it? We will provide you the pros and cons of each option based on the circumstances in your vehicle renewal and will prepare an analysis to show you the cash flow ramifications. If you are a start-up company seeking capital from sources such as banks, angel investors, friends and family, or capital venture firms, preparing strong financial models is essential. Your financial model must enhance your story and needs to be put together on a level that you can easily change the variables, but also provide your investors with important top-level information in a language they can understand. There language will often be different from yours as a manager/owner and mine as your consultant. To help you achieve this, we will put together various financial models that run based on the variables your new venture will encounter. If you receive $1M in capital, how long will it last? How will advertising revenue on my website factor into my cash flow? How will capital expenditures affect my available cash? And if they are not recurring, how do I explain this to my investors? These are all questions our financial modeling can answer. Long-story short, we firmly believe that our role in these special situations will benefit you in more ways than you may initially see. These circumstances are an opportunity to see you operate on different levels and to provide you excellent service and consulting to broaden your knowledge in areas you may not encounter on a daily basis when running your business. With time, we get to know our clients rather well while we develop long-term professional relationships with them. And we hope you will become one of them! Click here to learn more about our MAS process. PAYROLL SERVICES You may be at a point where you are now adding employees and need to begun payroll. Perhaps, you have been using a payroll company, but just aren’t happy with the service, or lack thereof, that you are receiving. Payroll preparation and compliance is an added value service we provide our business clients to remove some of the burdens of deadlines and ever-changing tax limits and payroll rules. Once we set up your payroll system, running payroll is easy enough. It’s keeping track of tax payment due dates, when quarterly returns need to be prepared and filed, and when additional employee reporting is needed to the Employment Development Department (EDD), Internal Revenue Service (IRS), and Social Security Administration (SSA). This is where we differ from other large payroll processing companies. To them, oftentimes you are an identification number, part of the large volume they carry. To us, you are a client who needs to not only pay their employees on time, but also needs to keep track of due dates, compute workers compensation, pay government payment arrangements, and comply with new employee reporting standards. Payroll Setup & Configuration Whether you are a new company or a business with a track record, but want better payroll service then what you are currently getting, we will set up your payroll and ensure that it will be properly prepared and that compliance with the various agencies will be taken care of timely. We will set up your direct deposit requirements, ensure your tax liabilities are paid timely, prepare your quarterly payroll tax returns, keep track of vacation/sick/PTO accruals, assist in workers compensation audits and reporting, and prepare all year-end reporting forms for the government and your employees. Process Payroll as Scheduled Once your pay cycle is determined and your payroll is set up in our software, all you need to do is keep track of your employees’ hours and any changes we need to be aware of, such as new hires for that pay cycle. We will send you a reminder via e-mail that your payroll is coming up and to provide us with the hours and salary for each employee. You will provide us copies of Form W-4 for any new employees when applicable. We will prepare your payroll accordingly and provide you with the proper reports you request. We make sure that your tax deposits are paid timely and comply with any other reporting obligations specific to the activity for that pay cycle. Quarterly Payroll Tax Filing Each quarter you will have specific filing requirements with the IRS, EDD, and SSA. We will ensure these forms are prepared accurately and filed timely on your behalf. Tax Forms and Workers Comp Report Preparation Throughout the year, your workers compensation provider will require you to submit to their audit reporting. When you receive these forms, forward them to our office and we will prepare them for you based on our payroll records. These audits are used to compare your estimated payroll to actual payroll, and dictate how much you pay in workers compensation. These forms can be tricky, where businesses have been known to over-pay workers compensation because employees were classified incorrectly or over-time was computed wrong. At year-end we will prepare all W-2s and either give them to you to pass out to your employees, or we will mail them on your behalf. Contact Us Today! To learn more about our accounting and payroll process and how we can help meet your business needs, please contact us during normal business hours at 714.821.6393 or click here to fill out an online information request form.

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Shaun Black is a registered representative registered to transact business with clients in California. ^Shaun Black is advisory licensed in the following states: California. Shaun Black is also an insurance agent licensed in California - insurance lic. OF45986. Jelena Black is a registered representative registered to transact business with clients in California. Jelena Black is also an insurance agent licensed in California - insurance lic. OE88261. If you are not a resident of the states noted above, all investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or insurance services over the internet. *Securities offered through H.D. Vest Investment Services (sm), Member: SIPC, ^Advisory Services offered through H.D. Vest Advisory Services (sm), non-bank subsidiaries of Wells Fargo & Company, 14241 E. Firestone Blvd. Suite 400, La Mirada, CA 90638. Phone (714) 821-6393 • Fax (714) 876-0753. Investments and insurance products are not insured by the FDIC or any federal government agency, are not deposits of or guaranteed by the bank or any bank affiliate and may lose value. © 2004-2008 Black and Associates LLP • Los Angeles and Orange County California