Payroll and Bookkeeping Services

Looking for a way to streamline your payroll, reporting processes, or/and bookkeeping work? Let us help you. MS Group CPA provides professional, hassle-free payroll, reporting, and bookkeeping services for all sizes companies. Our team removes the burden of tedious payroll, reporting, or/ and bookkeeping tasks from your staff and ensures that even the most minute of details are attended to. From setup to reporting, we handle every aspect of this important job so you’re free to do what you do best: Run your business effectively. Our professional services are designed to provide you with reliable, error-free, cost-effective solutions to your company’s payroll, reporting, and bookkeeping challenges. Don’t waste your valuable time on cumbersome payroll, reporting, and bookkeeping tasks. Call us today for a consultation and learn more about how our payroll, reporting, and bookkeeping services can benefit you. 

Prepare Financial Statements

Once we provide payroll reporting and bookkeeping services for your entity, we can assist your entity precisely prepare Financial Statements. Per SSARS, Preparation is a new level of service below a compilation. While a compilation is an attest engagement, preparation is a non-attest engagement. They also provide some examples of when bookkeeping does not rise to the level of preparation:

•Assisting in the preparation of financial statements (still no guidance on when assisting becomes compiling)

•Maintaining depreciation schedules and preparing bank reconciliations

•Certain adjustments such as deferred taxes and depreciation

•Drafting footnotes

The Following is a nice chart, highlighting the major differences between Compilation and Preparation of Financial Statements:

1“When an accountant is engaged to prepare financial statements, the accountant is required to include an adequate statement on each page of the financial statements indicating that no CPA provided any assurance on the financial statements. If the accountant is unable to include an adequate statement on each page of the financial statements, the accountant is required to issue a disclaimer on the financial statements.”