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General Bookkeeping

Bookkeeping is an important part of running your business, or your personal record keeping. If you do not keep accurate records of your business expenses, you will not be able to prove them and therefore claim deductions. An auditor may disallow the deductions, burdening you with back taxes and penalties. Kaydee Services, is here to help.

Bank Reconciliations:

Every month Kaydee Services goes through all the deposits and withdrawals that went through the bank and reconciles them to make sure everything balances. This is one of the most important jobs because if there’s any fraud happening, the bank account will usually be the first place that it appears. Kaydee Services pays careful attention to detail to create accurate reports of the business's income and expenses.

Payroll:

Depending on the size of the company, Kaydee Services duties will be to provide weekly, semi-monthly, or monthly payroll for your employees. Kaydee Services can also file annual reports for payroll, such as W-2s and 1099s. Payroll reports are filed quarterly and include form 941, state unemployment taxes and worker's compensation taxes. We are familiar with government regulations regarding deductions as well as laws pertaining to employees. Many times an employer is not familiar with these laws so it’s up to Kaydee Services to inform them to avoid potential legal issues.

Accounts Payable:

Kaydee Services handles keeping track of vendor invoices that come in and pays them before they are due.

Accounts Receivable:

In order for a company to thrive, it must have an income. So, Kaydee Services duties involve posting daily cash sales of the accounts receivables using spreadsheets. Some companies invoice clients and others receive cash that must be tracked and deposited.

Inventory:

If a company’s business involves inventory, Kaydee Services will keep track of it in an accounting program. Inventory is affected by purchases the company makes as well as the income the company generates. Periodic inventory counts have to be done to make sure that everything balances so adjustments can be made.