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FINANCIAL CONSULTATION Many clients engage us for accounting, audit and tax work and come back to seek our advice about a wide range of business concerns such as the restructuring of their business, refinancing borrowings, advising on mergers and on the acquisition and sale of businesses, and computer selection. TRENETY SERVICES advise and assist solicitors and barristers in assessing the accounting and financial aspects of their cases. This often leads to frequent consultations with legal advisors who require our firm to prepare briefing notes and reports for tendering in court. Our management advisory services include corporate and personal financial planning, cash flow management, organization chart and, job descriptions, systems evaluation, flow of documentation, budgeting and forecasting, business valuations, feasibility studies and due diligence, the valuation of shares, the development and implementation of a negotiating strategy to maximize the financial return for our client in many situations. TRENETY SERVICES is creative business advisors. We listen to our clients' concerns, learn about their businesses, and give them the answers they need in order to make sound business decisions. Our Consultancy includes: Advice on the appropriateness of policies in particular business circumstances, including acting as arbitrator or an expert witness. Implementation, follow-up and review of financial accounting. Advice on the valuation of interest in business. Participation in setting up accounts through the design and follow-up of the cost accounting system, the implementation of accounting plans and the preparation of periodical financial positions, balance sheets and income statements. Financing, including advice on sources of finance, assistance with preparation of budgets, cost analysis, margins, profitability, negotiation of finance. Preparation of reports for investment banks and financial institutions. Business expansion advice. Assistance in preparing management reporting, budgetary control and advice on methods to improve profit or reduce costs, particularly in the financial areas. Advice on the evaluation and selection of microcomputer systems and related software, and their installation. ACCOUNTING As an 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... Reconcile your bank account Generate an income statement Generate a balance sheet Clean up your general ledger Provide unlimited consultations These tasks form the solid foundation of your 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 specialize in personal tax preparation and full-service accounting services for small- to medium-sized businesses & individuals. Small firm friendliness Whether you?re a large business, a small business or someone who needs taxes done once a year, Trenety Services is here for you! We provide exceptional service and personal attention to every detail. We take time to get to know you ? what?s important to you, your goals, your style. We flex our services to your needs. Big firm expertise We match our grade-A service with business acumen. Electronic filing, online IRS and tax law updates, tax form software for governments, and more ? enable us to provide you with industry-leading accounting services. We?ll help you improve your tax and capital position, business structure and benefits packages, acquisition potential and much more. Bank Reconciliation Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you 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. Know 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 money, it makes money for you. 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. 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. Income Statement 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... Track revenues and expenses so that you can determine the operating performance of your business. Determine what areas of your business is 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. Balance Sheet A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. A balance sheet helps 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 payables. 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 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. Maintaining a Clean General Ledger 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. Unlimited Consultations We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern. PAYROLL When it comes to paying employees, laws have made the payroll function a time consuming nightmare for the small business owner. Small business owners spend an average of daily work to three daily works in month performing payroll functions. That could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers. We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company. Why Outsource Your Payroll... Its Cost Effective Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees. It's a Time Saver our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system--no more data entry, no more researching updates or new laws, no more worries. Worry Free Payroll Tax & Social Security Filing Eliminate the risks of calculating and filing your own payroll tax & social securities by having professionals do it for you. Local payroll tax & social security laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date? Allows You To Focus On Core Competencies our professional staff allows you to focus on the core competencies of your business. We are accounting professionals--you get the experts working for you and with you. 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. Get the Payroll Solution That Best Fits Your Needs. We know that when it comes to payroll service .That why we offer comprehensive Payroll Services takes care of the entire payroll processing for you, so that you won't have to. You get... Your payroll checks prepared and written on-time, every-time. Free Direct Deposits Worry free tax & social security reporting as well as tax & social security deposits. User friendly, and easy to understand monthly, quarterly, and annual payroll tax & social security reports, including R-10, R-5, R-6, R-8 and the social security forms. Detailed reports on your employee's vacation, sick days, and personal day's accruals. Creation and filing of the required new hire reports Your payroll records maintained in tip top shape. CASH FLOW MANAGEMENT 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 tomorrow's payroll you know what I mean. Our cash management service allows you to... Know when, where, and how your cash needs will occur. Know what the best sources are for meeting your additional cash needs. Be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors. 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. Creating an accurate cash flow projection is just one of the many cash management services we provide. You also get... Help obtaining an appropriate line of credit Cash collection acceleration techniques Proven effective collection policies Proven effective payment policies Help obtaining the maximum rate of return on your idle cash INTERNAL CONTROLS At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft. 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... 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. Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available. Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed. Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records. 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. 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. Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned. NON-PROFIT ORGANIZATIONS We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the reporting for you. Each year requires most tax-exempt organizations to submit the Forms and its relations, which includes the following items. ? Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent... ? Balance Sheet with specific categories like cash, accounts receivable, accounts payable... ? Functional Expense Statement with all the expenses allocated to program services, fundraising, or operations. ? Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings. ? Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income. We use 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... Review and compile your financial statements Design, install, and maintain your Accounting System Weekly, bi-weekly, or monthly payroll preparation Payroll Tax Preparation and Deposits Provide training for your accounting personnel Complete and file your non-profit status application Provide training for your board on non-profit financial statement usage and effective budgeting practices Prepare and file the tax forms AUDITING Our firm has the expertise and resources to carry out statutory audits for a large range of clients. Consistent with Trenety Services philosophy of quality service, our audits are more than just statutory audits. We have a broad practical knowledge of auditing, both on a local and international scale. Our aim is to conduct every audit with maximum efficiency and so provide clients with genuine solutions to problems that may arise. Our audit staff is trained to identify and discuss with the client, potential problems or areas where the client could derive significant benefits. It is this attention to detail that distinguishes Trenety Services from many other accounting firms. Whilst it is necessary for auditors to maintain an appropriate level of independence, we encourage our staff to develop a relationship of mutual respect and understanding with senior management within the organization we are auditing. To benefit the client we endeavor to have the same staff particularly at senior level, on an audit from year to year, to improve efficiency. At Trenety Services we can assist clients in setting up the optimum business structure by establishing workable accounting systems and advising on reporting systems and the preparation of periodic or annual accounting. Our audit approach can be illustrated as follows: Business Review Evaluate Risk and Review Internal Controls Determine Audit Strategy Assess Control Effectiveness Develop and Implement Testing Plan Evaluate Results and Review Financial Statements Audit Report on the Financial Statements Audit Reports to the Board and Management. INTERNAL AUDITING In addition, we strive to establish ourselves as one of the client's key advisers in the decision making process. To reach this goal, our approach involves: At the audit team level: Possessing specialized experience in all economic, financial and industrial sectors. Getting full understanding of the nature of the business activity and its financial and accounting characteristics. Working in close collaboration with client staff to maximize the effectiveness of work. Establishing strong quality control and close involvement of assigned partners and managers at all stages. At the audit process level: Elaborating careful planning to ensure the scope is responsive to procedures and controls in operations. Identifying the techniques, procedures and measures necessary to achieve the objectives of internal control. Identifying the procedural weaknesses for management's attention. Keeping up regular meetings with client management to consider problems. Audit Consulting In addition to financial audits, we also provide audit consulting services, including: Financial investigations in accordance with due diligence procedures for transactions involving mergers, acquisitions, joint ventures or partnerships' understandings. Operational audits of internal control structure such as assistance in setting up accounting systems for new or expanding businesses. Acquisitions and disposals supports consisting of in-depth reviews of specific businesses, purchase investigation or audit of an intended acquisition. Company valuations. Implementation of consolidation processes, including the different aspects relating to the definition of reporting group, to the choice of accounting principles and to the implementation of reporting procedures from affiliates to their holding. Acting as liquidators of companies appointed by partners in voluntary liquidation or courts in compulsory liquidation and handling of any subsequent related matters. Assistance in assessing the effectiveness and structure of internal audit departments, and training of internal auditors in relevant techniques including computer auditing.
Accounting Services Preparing and reviewing financial statements Compiling and auditing accounting reports Preparation of financial forecasts and projection ?Startup Accounting Services ?Tax Accounting Services ?Tax planning for individuals, business owners, and executives ?Tax planning for corporations, share holders, and closely-held businesses ?Assisting individuals with their pension plans, deferred compensation. ?Online tax services ?Payroll Processing Services ?Payroll preparation & processing ?Payroll management ?Online payroll processing ?Startup Accounting Services ?Preparation of business and individual Federal tax returns ?Preparation of business and State tax returns ?Payroll processing for business startups

Business Description

Accounting and Auditing Services manages day - to - day business functions, enabling you to improve your company's control and service levels while reducing costs. Our services include transaction management, general accounting, management financial analysis and reporting, tax consulting and compliance, risk management. When managing your financial business processes, Trenety Services focuses on controls, productivity and provides accurate and timely information needed for decision support and business planning. We also focus on quality measures and key performance indicators in order to improve customer satisfaction . Moreover, you benefit from an increased ability to devote management time and resources to your core competencies and strategies that lead to growth.

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