Concierge accounting serices

Proactive accounting and financial management services designed to keep you on track throughout the year and make managing your finances simple again.

"The best financial advice does not need to be complicated or expensive but it does need to be available when you can use it". - Tony Novak, MBA, MT, Certified Public Accountant

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Small business accounting setup checklist

Here is a list of the information that you will want to have on hand before you start setting up an electronic accounting system for your small business. The list may vary depending on the type of business.

Company data

Company legal name and address
Federal EIN or social security number
Fiscal year dates
Name of the income tax form the client files
Accounting basis (cash or accrual)

Chart of accounts

Names, numbers, and descriptions for the chart of accounts (use the existing chart of accounts, if available)
Financial statements as of the end of the prior tax year
Trial balances as of the QuickBooks start date
List of department or location classifications (for the Class list)
Numbers and balances (from the start date through today) for the following types of accounts: bank, credit card, loan, and lines of credit
Value of assets (including original cost and accumulated depreciation for fixed assets)
Equity information including all owner's contributions, plus retained earnings for each year the company has been operating

Customers and Jobs list

Customer numbering scheme
Information to complete the Customer list: names, addresses, contact information, taxable status, etc.
Customer payment terms
Customer shipping methods
Customer types
Open balances or outstanding invoices as of the start date

Vendor list

Vendor numbering scheme
Information to complete the Vendor list: names, addresses, other contact information
List of 1099 vendors and their tax ID numbers
Vendor payment terms
Shipping methods
Vendor types
List of outstanding bills as of the QuickBooks start date

Item list

List of all inventory, non-inventory, service, and other items to complete the Item list
Price list for all items
Inventory numbering scheme
Quantities on hand and values for inventory as of the start date
Desired reorder points for all inventory items
Taxable status for each item
List of states in which the company pays sales tax
Sales tax rates, sales tax agencies, and the sales tax liability as of the start date
Frequency of sales tax reporting (monthly, quarterly, annually)
Sales tax calculation basis (cash or accrual)
Type of sales (wholesale, retail, out of state)
Manufacturer’s part numbers for client’s vendors

Fixed Asset Item list

Asset name
Account used to track the asset
Purchase date, cost, and vendor
Description, location, and warranty information

Employee list

Employee numbering scheme
Information to complete the Employee list: names, addresses, telephone numbers, social security numbers, etc.

Determine the following items for payroll:

Form 941 Deposits:

Each pay-period

State Withholding:

Multi-state (Specify:_________________)

Local Withholding:


Unemployment Tax:

SUTA (Rate:________)

Assemble the following:

YTD information for each employee as of the start date
Accrued benefits including sick and vacation time for each employee as of the start date
Earnings, additions, and deductions for payroll processing (SEP, union benefits, 401(k), reported tips, etc.
Employer federal, state, and local tax identification numbers
YTD payroll liability payments

Entering historical transactions

Accounts receivable transactions
Accounts payable transactions
Historical payroll transactions
Bank and other transactions