eCloud Accountant provides a comprehensive range of business support services, including bookkeeping, payroll, business consultation, and more. Here are three example use cases we have made with some of our current clients.
Comprehensive Business Support: Business is a manufacturer who averages $100,000 per month. Staff includes 10 laborers and 1 production manager. Owner oversees all manufacturing work and runs all sales and receivables. Business has no accounting, payroll, or administrative staff.
Our service provides them with monthly bank and credit card reconciliations. Checks are issued to all vendors supported by pdf copies of invoices issued to the business. Income and expense statements are available in real time, at the business’ request. Sales and sales tax liabilities are tracked. State sales tax return is prepared and filed on a quarterly basis.
Services also include weekly payroll runs. All payroll liabilities are paid on a weekly basis to the federal government and states. All federal, state, and local payroll tax returns are prepared and filed on time.
Year end services include W-2s, 1099s, and adjustments to finalize the books.
New Business Support: Business has been opened for less than one year, specializing in cannabis. Comprised of 3 partners who are focused on establishing operations and generating revenue. Business has one bank account established, used for all expenses and deposits.
Our services provide them with a monthly bank reconciliation. Expenses are appropriately reviewed to determine what should be expensed or capitalized. Deposits are matched to customer invoices. Year end services include 1099s and adjustments to finalize the books.
Business consultation meetings are held regularly with the three partners to help remain compliant with the federal government and state, establish best practices, and discuss any of the challenges the business is facing.
Payroll Support: Business is an established medical practice. Owned by 1 physician, practice includes 2 medical assistants and 1 administrative support. Business handles payments to vendors, tracking income, and manages their own books.
Our services provide them with biweekly payroll runs. Proper withholding of all federal, state, and local taxes. Payroll liabilities payments to all applicable government agencies. Preparation and filing of all federal, state, and local payroll tax returns. Year-end services include preparation and filing of W-2s
