Services FOR BUSINESSES
Running a business is demanding — and keeping up with the financial side can feel like a full-time job on its own. We handle the details behind the scenes so you can stay focused on what really matters: running your business and generating profits. We don’t just crunch numbers — we help you understand them. Our advisors become an extension of your team, offering clear insights and proactive strategies to keep your business strong, compliant, and positioned for growth.
Having us reconcile your account each month allows you to:
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Identify lost checks, lost deposits and unauthorized wire transactions.
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Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
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Detect and prevent embezzlement of funds from within your company.
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Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
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Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
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Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
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Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.
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An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to…
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Track revenues and expenses so that you can determine the operating performance of your business.
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Determine what areas of your business are over-budget or under-budget.
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Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
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Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
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Determine your income tax liability.
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A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.
A balance sheet helps you to:
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Quickly get a handle on the financial strength and capabilities of your business.
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Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
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Determine if your business is in a position to expand.
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Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
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Determine if you need to take immediate steps to bolster cash reserves?
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Determine if your business has been slowing down payables to forestall an inevitable cash shortage?
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
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The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. We can build consultations according to your needs into our pricing, so you feel free to call us with questions or concerns.
As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter we’ll do the following things for you…
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Reconcile your bank account
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Generate an income statement
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Generate a balance sheet
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Clean up your general ledger
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Provide unlimited consultations
These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.
We will take your manually-prepared payroll records and other payroll information and post this information to our data files, so you get:
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Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
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User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
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Detailed reports on your employee’s vacation, sick days, and personal days accruals.
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Creation and filing of the required new hire reports
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Your payroll records maintained in tip top shape.
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You can enter your employee’s hours and earnings securely online and get:
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The ability to instantly print payroll checks on your own printer.
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Free Direct Deposits.
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Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
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User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
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Detailed reports on your employee’s vacation, sick days, and personal days accruals.
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Creation and filing of the required new hire reports.
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Your payroll records maintained in tip top shape.
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There seems to be an endless amount of special reports required by Government agencies. We can prepare the following reports for you:
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Worker’s Compensation Audits.
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Unemployment Claims.
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Social Security Audits.
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Child Support Audits.
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W-2 and W-3 processing.
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1099 and 1096 processing.
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Preparation/assistance with Federal and State registration forms.
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When it comes to paying employees, laws and the IRS have made payroll services a time-consuming nightmare for the small business owner.
Our Comprehensive Payroll Service takes care of all of the payroll processing for you, so that you won’t have to. You get:
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Your payroll checks prepared and printed on-time, every-time.
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All of your payroll checks are laser printed on “blank” check stock to ensure maximum security and meet the micro encoding standards as set forth by the Federal Reserve System.
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Free Direct Deposits
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Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
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User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
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Detailed reports on your employee’s vacation, sick days, and personal days accruals.
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Creation and filing of the required new hire reports
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Your payroll records maintained in tip top shape.
In order to give you an accurate price for our payroll services we need to know a little more about your business and what services you’re interested in. Our prices are very affordable.
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.
It's Cost-Effective
An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.
Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.
An Audit allows you to...
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Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the investing community, as to the credibility of published information.
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Facilitate the payment of corporate tax, goods and services tax, and other taxes on-time and accurately, thereby avoiding interest, penalties, and investigations.
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Comply with banking covenants.
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Help deter and detect material fraud and error.
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Facilitate the purchase and sale of businesses.
Here's what you get ...
You get the highest level of assurance because we go outside your company to obtain more information. Typically, we’ll have written communication with:
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Your customers, to check outstanding receivable balances,
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Your banks, to confirm cash or debt balances and terms,
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Your vendors, to verify outstanding payable balances, and
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Your attorneys, for information on pending or threatened legal action.
We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client’s supporting work papers.
Audits Not Just for Public Entities
All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, not-for-profit agencies and other organizations receiving government grants.
Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank’s assessment of the company’s risk. Also, companies with absentee ownership (such as those owned by investment firms, or individuals who no longer run the business) may order audits as checks of their management teams.
Comprehensive Reports
You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers’ compensation reports and much more.
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Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.
A review doesn’t require us to study and evaluate your company’s internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: “We are not aware of any material modifications” for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.
Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA’s technical expertise without the work and expense of an audit.
In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements.
Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.
Each type of financial statement report may suit specific circumstances, depending on requirements from your client’s bank or other parties, as well as meet budgetary needs.
Understanding each report’s unique strengths and weaknesses can help you choose the most appropriate one. Please call if you have questions about which type of report is right for you.
Understanding each report’s unique strengths and weaknesses can help you choose the most appropriate one.
Stockholders, creditors, and private investors often need assurance that the financial statements accurately represent the true financial position of a company.
Your stockholders, creditors, or private investors have different levels of risk tolerance, so we provide three levels of assurance to meet your needs.
A wise business owner once said, “Happiness is a positive cash flow.” As a business owner, I’m sure you agree. Everything is better when your cash-in exceeds your cash-out.
A cash crisis can be emotionally devastating and it can even kill your business. If you’ve ever had to beg, borrow and steal to cover tomorrows payroll you know what I mean.
Know ..
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Know when, where, and how your cash needs will occur.
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Know what the best sources are for meeting your additional cash needs.
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Be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors.
Develop projections and strategies
The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you.
We can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs.
We also prepare historical cash flow statements to help you gain an understanding about where all the money went.
You also get ...
Creating an accurate cash flow projection is just one of the many cash management services we provide. You also get…
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Help obtaining an appropriate line of credit
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Cash collection acceleration techniques
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Proven effective collection policies
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Proven effective payment policies
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Help obtaining the maximum rate of return on your idle cash
Need more information?
To learn more about how we can help you avoid stressful cash shortages please click the button below to complete a contact form. We will get back to you promptly to arrange a Free Consultation.
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We will concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it’s needed.
We will use your data and underlying assumptions to prepare information that your banker can easily read and buy in to.
We make copies of the last three years of personal tax returns for the bank, as well as identify the collateral being pledged as security for the loan.
We help substantiate your financial needs/position to your banker in person.
Need money to grow your business? Requesting bank financing without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach for financing.
Put your best foot forward by allowing us to prepare a winning loan proposal for you. Our proposals have a high likelihood of success because they’re created from the lender’s perspective.
We know exactly what banks want to see, to win approval for the money you need to grow. We know exactly how to prove to them that you will be able to pay them back.
Few things are more important to business owners than the value of their business. The valuation you get for your business can make or break a proposition.
Whether you’re negotiating a merger, considering new shareholders, attempting to resolve disputes associated with liability, shareholder equity, estate planning or marital dissolution, objective valuation can make the difference between loss or gain, success or failure.
Process needs experienced professionals
Business valuation is not an exact science. It’s based on judgment, experience and relevant information. So, you need professionals who are well qualified, with significant experience in evaluating all types of organizations.
Our approach is to intimately know your business in order to understand what constitutes its value. We work closely with you to analyze your operations and historical financial data. Our in-depth knowledge of your business enables us to provide a well-reasoned, fully documented and defensible valuation opinion.
Evaluations for range of needs
We provide a full range of business valuation services for the following needs:
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Bankruptcy
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Business Disputes
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Buyouts
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Divorce
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Estate Planning
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Financing
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Gifting
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Mergers & Acquisitions
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Other Business Valuation Scenarios
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We can help you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you.
Each year the IRS requires ...
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.
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Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent…
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Balance Sheet with specific categories like cash, accounts receivable, accounts payable…
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Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
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Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
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Revenue Support Schedules that detail the organization’s sources of income in specific categories like charitable donations, membership fees, investment income.
The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it’s imperative that you build your accounting system around these revenue and expense classifications.
Here's what we do for you ...
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Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the investing community, as to the credibility of published information.
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Facilitate the payment of corporate tax, goods and services tax, and other taxes on-time and accurately, thereby avoiding interest, penalties, and investigations.
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Comply with banking covenants.
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Help deter and detect material fraud and error.
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Facilitate the purchase and sale of businesses.
Here's what you get ...
You get the highest level of assurance because we go outside your company to obtain more information. Typically, we’ll have written communication with:
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Your customers, to check outstanding receivable balances,
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Your banks, to confirm cash or debt balances and terms,
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Your vendors, to verify outstanding payable balances, and
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Your attorneys, for information on pending or threatened legal action.
We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client’s supporting work papers.
501(c)(3) applications
If you’re starting a new not-for-profit organization we can help you prepare your organization’s 501 (c)(3) application for tax-exempt status.
Here’s what’s needed…
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Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 (“Organizational Test”).
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Employer Identification Number
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By-laws of the Organization
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Minutes of Board Meetings
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Names, Addresses, and Resumes of Board Members
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Names and addresses of all Active Members
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Inventory of Assets like cash, furniture, equipment, property, pledges…
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Inventory of Liabilities like mortgages, accounts payable, loans…
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Rent/Lease Agreements and Contracts
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Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years.
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Written Reason for Formation and History of the organization.
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Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
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Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets…
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Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers…
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Fund Raising Program Descriptions
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IRS Processing/Filing Fee.
We are happy to prepare any of these items if you need help.
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At times you may need a trained outside professional to evaluate your company’s operations to determine if the appropriate internal controls are in place to ensure proper handling of resources and to protect yourself from employee theft.
Assessment and Recommendations
We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.
What we do for you ...
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Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
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Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
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Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
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Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions in records of internal controls.
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Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
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Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
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Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.
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Client Accounting Services
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
General ledger & financial statement preparation
Bookkeeping (Monthly/Quarterly/Annual)
Accounting system setup for new businesses
Personal financial statements
Financial Statements Preparation
We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.
Assurance Services
Audit Services
Audits differ from reviews and compilations, as they are an intensive examination of your company’s systems and records. KM&M approaches audits constructively, concluding each engagement with recommendations on how to improve our client’s management information, internal control systems and procedures – with our goal being to ultimately improve your bottom line.
Review Services
Reviews provide a limited assurance that financial statements are free of material misstatement. The limited assurance is derived through inquiry of management and key employees as well as analytical procedures performed on financial information. Through these procedures, KM&M looks to enhance the value of the engagement by identifying any opportunities for efficiency and improvement that would be identified by our review procedures.
Compilation Services
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Compilations differ from reviews and audits as they are based upon client information provided and used primarily for internal use only as no assurance is expressed.
Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses.
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company’s financial goals.