Dominion Accounting

Monthly bookkeeping services are provided to businesses. It is important to know how your business is performing relative to profit or loss. If your business is profitable, you may need to file estimated tax payments to keep in line with the estimated tax payment rules as established by the Internal Revenue Service. If your business is not showing a profit, our financial statements are a great management tool to see what is happening financially within your company.

If you are a very small business, we can provide bookkeeping services on a quarterly basis.

Whether we provide bookkeeping services to you on a monthly or quarterly basis we will:
1. Process checks written from your check register.
2. Record your deposits
3. Make any necessary journal entries (automatic deductions from your bank statement)
4. Provide a bank reconciliation
5. You will receive the following reports (either in hard copy or through our “Client Log In”:
a. Balance Sheet
b. Income Statement
c. Statement of Cash Flows
d. A general ledger which shows all posting to each account
e. A payroll register (if you have employees)

If you have employees, you will also received completed payroll tax coupons/reports:
1. Form VA5 – Employer’s Return of Virginia Income Tax Withheld
2. Form FC20 – Virginia Employment Commission Quarterly Report
3. Form 8109 – Federal Tax Deposit Coupons (monthly for federal payroll taxes – quarterly for federal unemployment)
4. Form 941 – Employer’s Quarterly Federal Tax Return (quarterly)

We also assist our clients in setting up retirement plans for themselves and their employees. Ask us about setting up a SIMPLE retirement plan for your business. Contributions are made by the employees through a payroll deduction with a company match of 2% or 3% (your choice) of employees wages. The company match is deductible by the business.

Remember: Through our “Client Log In” secure site, all of the above information is placed in your account on pdf files so if you need to review your files and you don’t have them with you, YOU CAN….and if you need to print something, YOU CAN.