Accounting is the overarching term for all processes related to recording a business's financial transactions. Bookkeeping is the subset of those processes that are an integral part of accounting. Transformative BK's value is based on providing services that are affordable to the client's that we support. Not all small & medium sized businesses are able to afford full accounting services like those that are provided by CPA firms. With that in mind, the following accounting services are incorporated into our offerings:
Reviewing and analyzing financial statements
Preparing adjusting entries
Capturing and properly coding all bank and credit card transactions
Analyze the cost of business operations
Advise business owner during financial decision making
Assess financial health and make financial forecasts
Prepare monthly reports (Balance Sheet, Profit/Loss, and others as requested)
Transformative BK works with small & medium size business CPA firms to provide quarterly and end of year services. As such, Transformative BK with defer the following services to our client's selected CPA firm.
Performing full financial audits
Business tax preparation (Sole Proprietorship, Partnership/LLC, S-Corp, and C-Corp)
Individual tax preparation
Conduct tax planning
File relevant business tax returns
Provide tax advisory services
Tax problem resolution (penalty abatement, installment agreements, Offer In Compromise, Currently Not Collectible Status, etc.)