Our Services
Preferred Small Business Solutions provides the critical back-office services your small business needs to operate efficiently and effectively. We're proud of our hands-on approach, which means taking time to explain the controls and processes we put in place for you.
Accounting software set-up and maintenance
Budget and financial statement preparation
Business incorporation, business plan development, project management
Monthly accounting and bookkeeping processes
Notary services
Payroll services
Printing services
Professional referral services
Sales tax and other tax services
Software and Hardware
Time and attendance reporting
We tailor our services to meet your business' specific needs, and deliver them at rates that save you time and money.
Accounting software set-up/maintenance
Every small business needs robust accounting/bookkeeping software to properly monitor and manage its finances. As a member of the QuickBooks Professional Advisors Program, Preferred Small Business Solutions offers expertise in QuickBooks, considered the industry standard for small-business accounting software.
Our staff of certified QuickBooks consultants stays up to date on all enhancements to the software and shares that knowledge, to ensure our clients maximize the potential of this powerful program.
If your business is a first-time QuickBooks user, Preferred Small Business Solutions will install and set up your QuickBooks program, and train you and your staff on the software's basics and new features when they are introduced. If you already have QuickBooks, we can evaluate your configuration and suggest improvements that might be needed.
And, for new and existing QuickBooks users, we're always available to answer clients' QuickBooks accounting and bookkeeping questions. Working through us, clients can also receive a discount on their software purchase.
If you are using other bookkeeping software, Preferred Small Business Solutions will help fine-tune your program if necessary and keep it running smoothly.
Monthly accounting and bookkeeping processes
For new clients, Preferred Small Business Solutions reviews their books and financial records and, where necessary, undertakes a books clean-up to put in place standard reporting categories and payment/collection procedures. This initial work may include installation and set-up of appropriate accounting software.
Thereafter, on monthly basis, we perform the following bookkeeping services:
- Reconciliation of all bank and credit card statements
- Monthly payment of accounts payable – Accounts payable (AP) are the bills a business owes to its suppliers and service providers. AP varies depending on the type of business but can include such items as rent, utility bills, office supply expenses and attorney fees. Preferred Small Business Solutions processes the bills received and, following client approval, records bill payments and prints signature-ready checks. We also assist in managing cash flow by utilizing vendors' payment terms.
- Monthly review and collection of accounts receivable – Accounts receivable (AR) are outstanding amounts owed to the business from its sale of products or services. Preferred Small Business Solutions monitors the aging of a client's AR and, with client approval, enforces a collection policy for delinquent accounts. We process payments and credits to invoices, and post all deposits.
- Invoicing - We set up for client approval that month's invoices to be issued for new and past-due accounts receivable, generate the invoices that have been approved and prepare them for distribution.
Budget and financial statement preparation
Preferred Small Business Solutions customizes your annual budget based on your prior year's data and current performance projections and develops comprehensive financial reporting packages to meet your individual needs. We furnish and customize the financial management tools your business requires for interim and year-end financial statement and tax-return preparation and reporting, and work with your accountant to prepare those reports. Our budgeting services include forecasting monthly and annual expenses and projecting cash flows.
Payroll services
Preferred Small Business Solutions provides payroll services for your small business. We generate all forms needed for your employees' income tax filings and input the amount of time worked by each employee. We set up all W-2 forms and arrange for direct-deposit or printing of payroll checks. Based on your maintenance of adequate funds on hand, we guarantee payment of all federal, state and local taxes for your employees.
Time and attendance reporting
Preferred Small Business Solutions offers streamlined and accurate time and attendance reporting services for your employees, full-time and part-time, through an automated software program. This reporting tool also facilitates the scheduling and rescheduling of staff hours. This software can be used on mobile devices.
Notary services
All of our bookkeepers at Preferred Small Business Solutions are notaries. We can notarize your documents as needed during your regular appointments with us.
Sales tax and other tax services
If your small business is required to collect state and local sales taxes, Preferred Small Business Solutions can set up your system for assessing and collecting these taxes and passing them on to the appropriate authorities. Our services include preparing your mandatory filings.
If you pay estimated quarterly taxes at the state and federal levels, we can also manage your estimated tax filings. For your other tax-service needs, including preparation of annual income tax filings, we can refer our clients to experienced certified public accountants and tax attorneys (see below).
Business incorporation, business plan development, project management
For businesses in the start-up phase, Preferred Small Business Solutions can advise on choosing the appropriate form of business organization and assist with the incorporation process. For businesses at any stage of development, we can help you devise a business plan to guide your future growth. We're also experienced in project management for projects large and small.
Printing services
Preferred Small Business Solutions has partnered with a printing house for all of your printing needs, from business cards, checks and mailing labels to holiday cards, marketing materials and promotional products. Click here to learn more.
Software and hardware
Through partnerships with other vendors, Preferred Small Business Solutions can pass along to you discounts on small-business software, including QuickBooks, and on equipment that many small businesses need, such as credit card machines and cash registers. Call us at 201-925-2057 to learn more.
Professional referral services
Beyond our in-house capabilities, Preferred Small Business Solutions maintains relationships with a network of insurance, tax, legal, graphic design and communications professionals who can offer other assistance your small business may require.
Preferred Small Business Solutions provides referrals for the following services:
- Insurance
- Accounting/tax services
- Legal, including contract review
- Financial and retirement planning
- Branding, social media & marketing
- Website content and design
