Bookkeeping

Bookkeeping

Detailed management of your daily finances is critical to the successful development of your business. You MUST have accurate and timely financial records to make intelligent strategic management decisions. Mark Accounting Firm understands the role and process of the bookkeeping services that will ultimately provide these all-important details.

We offer Accounting and Bookkeeping Services at our offices located in Alexandria, VA Washington DC as well as Silver Spring, MD for wide range of small businesses located in Northern Virginia, Southern Maryland and Washington DC metro area. We provide affordable services by allowing your company to choose the best, most comprehensive and customized services at a cost that fits your company.

Our Bookkeeping Services include:

Account Payable and Account Receivable Management:

Accounts payable management involves the oversight of all financial activities relating to creditors (people you owe money to). All related transactions are recorded in the Accounts Payable sub-ledger at the time of invoice and displayed as liabilities on your company's balance sheet.

Mark Accounting Firm has expertise in all AP levels and extensive experience managing AP operations. Therefore, utilizing our resources and expertise, we will help your business to answer the following questions so you can be on the top of your business.

• Do you know the total amount of your business debt?

• Can you track all outstanding bills?

• Are paying your vendors on time?

• Mark Accounting Firm also provides daily updates of all outstanding bills, a daily-updated AP balance reports, access to vendor sales terms and so much more.

Accounts Receivable Management involves the oversight of all financial activities relating to debtors (people who owe you money). All transactions related to accounts receivable are recorded in the Accounts Receivable sub-ledger upon creation of invoice and displayed as assets on your company's balance sheet. Mark Accounting Firm has expertise in all AR levels, with extensive experience managing AR operations. Our Firm is ready to help your business improve its cash flow by reducing business bad debt loss and maximizing the effectiveness of your accounts receivable management system. We help our clients obtain a clear image about the impact of management decisions on cash flow.

Bank/Credit Card Reconciliation

• Do you know the importance of the monthly bank and credit card reconciliation?

• Do you have the right procedures and controls to protect your company against fraud?

• What are you doing to ensure accurate invoice processing?

• Do you understand the true costs of human error as it relates to your accounts?

Let Mark Accounting Firm help you answer these questions.

Balance Sheets and P&L Statements are prepared to help determine the financial state of a business. They provide critical visibility into the effectiveness of corporate strategies and management efforts. That's why it is so important to review these documents on a regular basis to ensure accuracy and further fine tune the day-to-day operations in an ongoing effort to maximize business performance. In addition to these internal reviews, business experts also recommend review by an impartial third party. The checks and balances afforded by an outside company that specializes in balance sheet and profit and loss statement review can help to ensure the reliability and effectiveness of the data itself.

Mark Accounting Firm has group of experienced accounting professionals with expertise to help you improve the visibility of your individual assets and liabilities, and true profitability of your business. We understand the tactical importance of preparing and reviewing these all-important financial documents, and are ready to work with you to free up cash and maximize profitability. Our staffs of accomplished consultants know where to look and what to highlight to identify any opportunities.

Payroll Administration

• How are you processing your payroll?

• Do you understand all the payroll terms and deductions?

• How are you automating employee deductions through the use of self-service?

• Do you pay your employees by checks or by direct deposit?

Payroll involves recording all employee wages, fringe benefits, vacation and sick pay, bonuses, and applicable taxes. As every new employee means an exponential increase in processing and paperwork, most small businesses outsource their payroll services to companies.

Let Mark Accounting Firm Administer your Payroll so you can have more time to grow your business.

Our Payroll Services include:

• Professional payroll processing (fixed salary or hourly rates)- with Direct Deposit option

• Payments to independent contractors (1099 Contractors)

• Prepare and file the quarterly payroll forms required by the IRS, and assist on paying the quarterly dues

• Prepare and file all year end business W-2 forms, W-3 forms, and 1099 forms

• Accurate federal, state and local tax calculations

• Vacation and sick pay tracking

Our mission

Our Mission is to provide you with the most comprehensive and complete services and computer training so that you can be successful in your business, secure a professional job and help you achieve your business dreams.