Weinberg, Barton & Company practice in a wide variety of areas to better serve our client base. We provide accounting, tax & consulting services to clients of all types – from mid-sized corporations to individuals. We pride ourselves in serving clients in all financial matters.
WBC accounting services are tailored to assist our clients in developing sound business practices, minimize tax burdens and more importantly, make smart management decisions.
The specific accounting services and systems we provide are dependent on the client’s particular needs and requirements. For some of our clients, it is periodically reviewing the in-house accountant or bookkeeper’s accounting work. For others, it is maintaining the books and preparing financial statements and/or budgets. In some cases, we handle the client’s entire payroll needs. In others, the clients frequently will outsource their payroll needs to a company such as Paychex or ADP. Also, we will handle the sales tax requirements for businesses required to submit sales taxes and the specific reporting requirements.
WBC will continually review the accounting services and systems with each client and modify the services and systems if needed.
WBC has many years’ experience using most accounting systems and is expert in many features that allow businesses to record transactions and report financial results. Our accountants are able to assist businesses with special accounting projects, prepare for tax audits, close their accounting books and step in when bookkeepers are not available. We can work with most general ledger accounting systems.
Taxes and Tax Planning
At Weinberg, Barton & Company, we provide tax services for individuals, businesses, not-for-profits, estates & trusts and employee benefit plans. Our tax services encompass income, payroll, estate & gift and sales taxes. We construct tax plans to fit the needs of our clients to maximize tax savings and benefits.
THE “WBC PROCESS”
We start with a basic understanding of:
- the financial picture for each business and the owner(s)
- the business’ industry
- the skills of the business’ personnel
- the business’ financial reporting needs
- the business’ and owners’ tax reporting needs
- CPA professional standards that may apply to our services
- develop the list of reports and tax returns to be delivered and their timing
- analyze the accounting and tax data to determine proper treatments
- develop a schedule for regular meetings with management and owners
- indentify the computerized accounting system being used or to be used
- communicate the services to be provided to the business and its owners
- satisfy CPA professional standards that apply to the services being provided
- create an understanding with the business and its owners as to the services that we will perform and any limitations on these services
After delivery of reports and tax returns:
- maintain all copies, hard and electronic, of reports, tax returns & source documents
- monitor the status of electronically filed forms
- represent the client with all taxing authorities
- available to respond to any government notices
- updating clients on new tax laws and regulations
We use the latest technologies to gather and disseminate client information at a much faster and more efficient manner than most firms. Using these latest technologies allows us to deliver our work sooner while keeping the cost down for our clients. It also allows us to have the client information readily available, if needed, most often right at our finger tips! We can communicate quickly and effectively using “client portals”. We receive and deliver most information electronically, which allows to use and store less paper.
We are required by professional standards to attend seminars, conferences and continuing education classes each year for 40-60 hours. We read daily and weekly tax and accounting standards updates. We keep abreast of all accounting and tax software updates. We require a detailed review of all reports and tax returns.
WBC provides assurance services to our clients based on particular needs and reporting requirements which benefit management, owners, lenders and shareholders.
Assurance services are specifically defined and regulated by accounting boards and various government organizations. All CPA firms are bound by the same set of rules when it comes to offering assurance services. We first gain an understanding of the client’s business and then tailor an assurance service plan to meet the needs of the client. There are various forms of assurance services that may or may not be required for the client. We meet with each client to determine what level of service is needed. WBC offers three different levels of assurance services, which include:
An audit is the process of applying analytical procedures to financial statements, meeting and inquiring with the company’s management team about the financial statements, obtaining samples of transactions and verifying certain balances with the financial statements. This process is meant to afford us the ability to form an opinion on the financial statements and report on that opinion. Our opinion must report that the financial statements presented are in fact, in all material respects, in accordance with Generally Accepted Accounting Principles.
A review is less in scope than the audit. We apply analytical procedures to the financial statements and inquire with the company’s management team about the financial statements. A review provides limited assurance to a reader of the financial statements that the financial statements are presented in accordance with Generally Accepted Accounting Principles.
A compilation is the presentation of the company’s financial statements which are prepared from the information provided by the company with no analysis, inquiry or verification. A compilation is the lowest form of assurance that a CPA firm can provide and is neither an audit nor a review. It provides no assurance as to the accuracy or completeness of the financial statements.
WBC can also provide other assurance services based on a company’s specific needs. We often review financial statements of other companies, vendors and in merger & acquisition cases.
Business Management Consulting
We offer business management consulting and advice in a wide array of areas and concerns for the business owner(s) and/or management team.
Our Services in this area include:
- Business consulting
- Due diligence
- Cash flow analysis & planning
- Budget preparation & analysis
- Other strategic planning
- Establishment of payroll systems
- Establishment of accounting systems
- Insurance needs
- Internal controls
- Capital Expenditures
- Merger & acquisitions of businesses
- Employee benefits
Each business is different and the strategic plan designed to assist our clients is well thought out and planned through years of practical experience. We listen to our clients and their needs and will design a strategic plan to benefit the business. Through planning and working with the business owner(s) and/or management team, the implantation of the strategic plan will benefit the business and owner(s) for years to come. Our main goal is to be the person that the owner(s) can rely on for the best solutions in dealing with a growing business and its many issues.
WBC will tailor a specific plan, either informal or formal, to meet the needs of the business and its owner(s). Whether the business is in the meat packing industry or is manufacturing die cast parts, each business and its owner(s) needs the continuing assistance and advice from a trusted advisor. WBC wants to be that trusted advisor for all of its clients and strives to provide the highest level of service it can in the most cost-effective manner.
Quickbooks Training & Consulting
We have many years of experience using QuickBooks and implementing & designing a QuickBooks system to increase efficiency and productivity for your business.
From a first-time set-up of QuickBooks for a new business, converting to QuickBooks from another system or you need training using QuickBooks. Maybe you need a clean-up of an existing QuickBooks system that was set-up improperly or need custom reports. We can do it all.
QuickBooks Services include:
- QuickBooks set-up and design for a new business
- Re-design of current QuickBooks system
- Assist in conversion to QuickBooks from another accounting system
- Training users on QuickBooks
- QuickBooks support on a monthly, quarterly or annual basis
- Design of custom QuickBooks reports for business & owners
- Clean-up current QuickBooks system
QuickBooks Support consists of a periodic review of the QuickBooks file. We are able to work in the Accountants’ Copy of the file without interrupting current work and slowing down your business. We make all the necessary changes and updates, communicate these changes to you and send back a “clean” version of QuickBooks for immediate use.