Traditional Accounting Services

Cook Martin Poulson provides a complete set of traditional accounting and bookkeeping services for a large variety of clients. These services include:

• Income and expense tracking
• Account reconciliation (bank accounts, ledger accounts, etc.)
• Transaction summaries
• General ledger reports and financial statements
• Payables management and payment
• Payroll calculation and distribution
• Payroll reports
• Quarterly summaries
• Monthly and quarterly tax reports
• Year-end tax reports

As we work with you, we evaluate your business, size, and financial information needs as we establish procedures and timelines that meet those needs. Some clients bring in their paperwork monthly, others quarterly or yearly. The frequency depends on the need, and we are happy to work with them all.

The process of accounting and bookkeeping can be a distraction to many business owners. By working with Cook Martin Poulson, clients can have the information and benefits of correct procedures without having to take the time to do it themselves.

The process

As an example, let's examine a typical monthly client. Each month, as the client delivers the new bookwork, Cook Martin Poulson bookkeepers review and sort the information, which arrives in the form of check registers and/or stubs, bank statements, sales summaries, payroll information, and more. All of the information is categorized as income or expense and entered into our bookkeeping software. Next, we reconcile bank statements and ledger accounts to make sure nothing is missed and all transactions are accounted for. If we are handling payroll or payables, we review and enter all the necessary information and prepare the check processing.

Once all the information is entered and reconciled, the updated books are printed for our internal use. The new information is reviewed by department managers and accountants to check for any errors or oversights. The managers also look for trends or patterns that should be discussed or reviewed with the client to assist with their business operations and planning. When the review is complete, any necessary checks are issued, and the client is notified to come and pick up the updated books and reports.

Taxes

We also prepare all required tax reports, monthly or quarterly, depending on the needs of the client. The completed tax reports are given to the client for review and submission, with the client submitting any balances due. When clients receive any correspondence from the various taxing agencies, we review the information and respond as needed, either writing letters of explanation, copying information, or forwarding information to the client for them to take care of.

Year-end

At the end of the year, we prepare W2 forms for each employee and reconcile all quarterly reports. We also balance all bank loans, ledger accounts, and prepare all information for review by the tax preparer. Since we track the books for management purposes, some adjustments need to be made for tax submission. We work closely with the tax preparers here at Cook Dorigatti & Associates to make sure that all ledger adjustments are tied to the management books, maintaining accurate information and legal accounting records, according to established industry standards and practices.

Most importantly, we always work closely with you, our client, to make sure you understand the information we put together. We are available to consult with you whenever necessary so you can make the best use of the financial information we provide.