Bookkeeping, Payroll, QuickBooks Consulting & Tax Reporting and Compliance
The accounting services offered by Ketel Thorstenson, LLP (KTLLP) include bookkeeping and the management of payroll – all are designed to sustain the everyday operational and accounting functions of businesses and organizations.
It doesn’t always make sense to hire an in-house staff member to manage and monitor every day accounting tasks. In an ever changing regulatory environment, staying up on all the laws and regulations related to sales, use, payroll tax, and respective reporting is becoming more difficult. Small-to-medium businesses and organizations often find themselves seeking out the services of outside entities to manage responsibilities, such as bookkeeping, and payroll.
What Can Our Accounting Services Do For You?
In addition to alleviating the burden of everyday accounting tasks, KTLLP offers the best in technology and service to keep your business running smoothly and efficiently. Our accounting services allow you to free up management and staff resources, while entrusting these responsibilities to an established and experienced accounting firm.
General Ledger | maintenance of your General Ledger based on your particular business
Bank Statements | monthly reconciliation of your checkbook and bank statements to your General Ledger
Payroll Processing | preparation and transmission (various methods) of your payroll checks from your time records. This might include:
- Making sure your 401(k), Simple Plans, and Cafeteria Plans are reported correctly to the IRS
- Assisting with computing and paying 941 tax deposits on a semi-weekly or monthly basis
- Assisting with the Electronic Filing Tax Payment System (EFTPS) for all taxes
- Reporting new-hires to the State
Cash Management | issuing checks, make and record deposits, maintain periodic cash balances
TAX REPORTING AND COMPLIANCE
W2s | annual compilation and printing of W2s for each employee. This might also include:
- Year-end reporting of employee life insurance, auto usage, and stockholder health insurance
- Compilation and issue to the IRS Magnetic Media
- W2s for businesses
Payroll Tax Reporting | quarterly Form 941 (FICA & withholding), annual Form 940 (federal unemployment), quarterly South Dakota Unemployment Form
Form 1099 Reporting | payments of rent, interest, and amounts paid to non-employees for outside services.
Sales Tax & Excise Taxes | preparation of state Sales and Use Tax Returns and Excise Tax Returns.
Accounts Payable | check printing from client-provided invoices.
Affordable Care Act Year-End Reporting
Quarterly & Year End Payroll Services | allow the CPAs and accounting professionals at KTLLP to assist with the following: W-3s, W-2s, 941s, 940s, State Unemployment (all states), 8027 (allocated tips), information necessary to complete 8846s (credit for employee tips).
- Accessing payroll solutions from anywhere, at any time, with an Internet connection (safe, secure, encrypted, and password protected)
- Going Paperless
- Running Payroll Reports (available electronically)
- Entering Remote Payroll Data (log in from work, home, or while traveling)
- Printing Remote Payroll Checks (from anywhere with Internet access and a printer)
- Managing Web Employee (gives your employee access to electronic copies of their payroll information, including W2s)
Payroll Processing | KTLLP can assist you in the preparation of payroll information, including paper checks, direct deposit payrolls, and pay cards. We can also assist in calculating and paying 941 deposits, tracking and calculating allocated tips, and ensuring correct overtime rates for tipped employees or employees with commissions and/or bonuses. Our payroll processing services also cover Cafeteria Plans, Simple/401(k) Deductions, Child Support Payments/Garnishments, New HIRE Act Reporting, and Workers Compensation Audit Assistance.
After-the-Fact Payroll Processing | this accounting service includes calculation and payment of payroll taxes and the management of payroll forms.
Pay Cards | this convenient, automatic, and flexible system issues paychecks in real time using prepaid debit cards. It’s the most convenient way to pay people today, making direct deposit easy, eliminating paper checks, and allowing employees to use their debit cards at ATMs and merchants.
Contact us about our Accounting Services
For more information on accounting services, please contact: