An Established Accounting Firm You Can Rely On

It is good business to keep your bank account, accounting, and taxes up-to-date. Reconciling your business checking account each month allows the Bring Team to...

• Identify lost checks, lost deposits and unauthorized wire transactions. 
• Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank. 
• Detect and prevent embezzlement of funds from within your company. 
• Have a true understanding of how your business is doing. You can't really know unless all accounts are reconciled and properly accounted for on your financial statement. 
• Manage your cash more effectively. Proper management of funds not only saves you money, it makes you money.
• 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.

The Bring Team will create periodic income statements for you, giving you an itemized list of all your revenues and subtracting an itemized list of all your expenses to come up with a profit or loss for the period.

Bring Team Income statements allow you to...

• Track revenues and expenses so that you can determine the operating performance of your business.
• Determine what areas of your business are over-budget or under-budget.
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
• Determine your income tax liability.

The Bring Team will also generate period Balance Sheets to give you a snapshot of your business financial condition at a specific moment in time.

Bring Team balance sheets help you...

• Quickly get a handle on the financial strength and capabilities of your business.
• Identify and analyze trends, particularly in the area of receivables and payable. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
• Determine if your business is in a position to expand.
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses.
• Determine if you need to take immediate steps to bolster cash reserves.
• Determine if your business has been slowing down accounts payable to forestall an inevitable cash shortage.

Bring Team Financial Statements are the most critical elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Bringhurst Financial payroll services ensure that your employees are paid on time and that all of your legal obligations are met. The Bring Team will take the worry out of your payroll processes allowing your business leaders to focus on important enterprise tasks instead of worrying about how and when individual employees will be paid.

We handle a wide variety of payroll duties including:

• monitoring employee time and attendance
• setting up and making adjustments to direct deposit accounts
• calculating payroll taxes and ensuring the correct deductions
• proactively monitoring the relationship between workers’ comp premiums and actual payroll
• integrating third-party 401(k) and benefits plans
• providing electronic payroll records to employees and employers
• ensuring compliance with all state and federal laws governing payroll.

Bringhurst Financial assists businesses that sell a product or provide a service that is taxable to set up tax collection process and to pay sales taxes and file federal, state, and local sales tax returns periodically.

Sales taxes are, frankly, a mess. There are many taxing localities involved, each with its own tax rate and list of taxable products and services. If you have a tax presence (called a tax nexus) in different states, you may have to collect different taxes on different items. And if you sell online, trying to figure out if you have to collect sales tax from customers in many states becomes almost impossible to manage. 

The Bring Team will help you sort this out.  We provide the steps and help you reach important decisions in order to collect, report, and pay sales taxes on the products or services you sell. Here are the main steps in the process of preparing to collect, report, and pay sales taxes:

• Begin by determining whether you must collect sales taxes in a specific state. 
• Begin by registering with your state's taxing agency. If you sell in more than one state, you will need to register in each state. Your state will also have information on what products and services are taxable. 
• Determine the sales tax rate or rates you must charge. It has been estimated that there are 11,000 tax collection entities in the U.S., so determining and collecting sales tax can be very complex The Tax Foundation has a downloadable table of state sales tax rates. 
• Set up your processes to collect sales tax from your customers. You might be selling online, at a retail store, or at outside venues like flea markets and events. 
• Gather your records for all your sales and the taxes through your business accounting system. 
• Send reports to your state and, of course, 
• Pay sales taxes to your state as required.