Business Accounting Services

Provide improvements and recommendations to transaction processing as part of a smoothly run operation with separation of approval and disbursements.

Having a good accounting system is beneficial when there is an interest in the accuracy of financial reports to review the results of operations. This will help provide an understanding your business and becoming a cog in the flow of the business. When not reviewing results, cash balances, accounts payable and receivables you might want to look at the big picture and a one to three year business plan.

Smaller business interested in accounting primarily for tax purposes can provide us with the bank statements and information to complete the information ourselves with their help. They perceive their business primarily on a cash basis and by how much revenue is being generated.

A company that can help provide continual improvements can provide advice that will help clear the path for revenue growth and business success.

Get better financial and sales reports

While a manual accounting systems are possible they are not very detailed and take a long time to prepare. The day and age of the computer has long been arrived for accounting and QuickBooks is the biggest name on the block for small to medium business. Having clear financial reports requires that you to have a solid chart of accounts. Also the accuracy of the financial data is a concern.

Work with your invoice system to better identify and list products and services being offered by your business. Make sure to understand income streams and popular items in your business. Provide reports A-Z from estimate to Sales by Customer and Item variance from estimated profit. This system is used often for construction business yet there are reports such as Sales by Product or Service in summary form by time period which can tell you about the quantity and amount of your sales mix.

There is much to be said for having smoothly run accounting systems

• Lower annualized costs
• Simplify employee training and processes
• Easy access to reports
• Fewer complaints about double entry of accounting systems.
• Quick preparation and turnaround of your income tax returns.
• Verifiable data and record keeping
• Advice on your records archive and storing data

Write up, Audit and review services

Clients will enjoy the assistance with your write up and also be able to provide review services to you in either Connecticut or New York. It’s helpful when the review helps you identify weakness in internal controls and makes recommendations. So whether you need a review for your investors, bankers or not for profit requirements and board of directors please contact us to discuss our services.

Gain confidence in your computerized system or upgrade

As your company grows you are likely to have employees who need access to the computer to enter transactions or print reports. With multi user access comes the need for some sort of network where computers share information with each other. In general we recommend wired 1000 GB Ethernet cable in your network. Using a wireless network increases potential downtime and slow connections.

From work groups we can help our accounting clients set up workstations and consult on the wiring and connections and help set up a Cisco or CheckPoint router. Problems printing your documents are made easier using network printers and properly installing the drivers. All this plus access to the Symantec Anti-Virus, with a three year license at no additional cost.

Some networks go beyond these set ups and establish an advanced business network called a Domain Network. This type of network creates specific users and security protocols using a managed server called a domain controller. Not only making the log on process better but access to network resources, such as email and company files. This type of set up is recommended for a medium to large business. This is because of the barriers to entry include items such as backup, power supply, storage networks and advanced switching equipment.

Having knowledge in accounting and computerization will help make things run smoothly when it comes to communication and access to reports for top management. If you are changing to QuickBooks, Salesforce or any other accounting upgrade or trying to fix the system you are currently using we can help make the transition as smoothly as possible.

We also have experience in installing and customizing your Point of Sale terminals and setting up network chef printers and the menu layout. Also recording communication of daily cash receipts to accounting software, either automatically or manually.

Financial plans and cash budgets

When it’s difficult to understand the presentation or accuracy of historical information business planning becomes stalled. A business plan for a new business is not burdened with this since there is no historical information at the time.

Thus having a good system in place is the foundation of your planning strategy and understanding your gross margin, expenses and net income margin. Also the quality of accounts receivable could be a consideration.

Your clientele can be your key to business success. However, cash is king when it comes to planning and creating a budget to manage this asset based on operations, investment in equipment and real estate and financing activities. For this reason there is a specific report called the cash flow report which details the changes and ending cash balance.

While the primary financial reports also include the income statement and balance sheet and so cash flow is usually prepared last. Recently in QuickBooks you can simply print out your cash flow reports. We can help you prepare and better understand your business for success.

Summary of Services:

  • Services

Accounting Services

Get Help with Small Business Accounting Service, Income Tax Preparation, Tax Planning and Budget Forecasting
  • • Tax preparation and planning for Individuals and Business

  • • Business accounting services leading

    to effective general ledger and financial reports
  • • Account analysis of expenses,

    accounts receivable, accounts payable, fixed assets and loans, for example.
  • • Cash budgets, forecasts & business plans.

  • • New Business set-up and state & federal registration

  • • Work with owners and managers

    on an environment of recording transactions according to an policies and procedures, and review the effectiveness of following directions.
  • • Computer accounting network & Software Upgrades Service and Installation

  • • Audit, Review and Payroll Services

  • • Web enabled remote workplace

    for desktop QuickBooks, Sage Software for accounting clients
  • • Point of sale products

  • • Fiduciary manager, planning & accounting services for your estate or trust

  • Strictly Accounting CPA Offers a Full Suite of Individual and Business-Related Accounting Services

    Strictly Accounting CPA provides comprehensive, custom accounting services for individuals and businesses. We tailor the from our many capabilities for each one of our clients, so you can always rest assured that you will receive the highest quality of services available. Whether you require tax planning services, Quickbooks training, annual write up or monthly services, IRS audit help in the Stamford, CT area and beyond, Strictly Accounting CPA can serve all of your accounting needs.
  • Our Accounting Service in Stamford Offers Flexibility, Efficiency, and Ease of Use

    Strictly Accounting CPA provides the expertise and professionalism that you require from a certified accountant with CPA status in both New York and Connecticut. Among the tax and accounting services available at Strictly Accounting CPA, we offer the following:
  • Tax Preparation for Businesses, Families, and Individuals

  • Tax Planning Services

  • Business Accounting Services

  • Financial Analysis and review

  • Budget Forecasting & Projection

  • Business Planning & Loan applications and personal financials

  • New Business Formation and set up

  • QuickBooks Training

  • Effective Design of Policies & Procedures

  • Accounting Software Upgrade & Service

  • Audit & Review Services

  • Web-based remote workplace

  • Point of Sale Products

  • Estate and Trust Fiduciary, Planning and Accounting

  • Strictly Accounting CPA clients benefit

    from our dedication to training and technology. From QuickBooks Training to our featured “accounts payable service,” Bill Pay USA, Strictly Accounting CPA is technology focused in providing solutions. Bill Pay USA serves a wide business community, our clients can monitor their affairs, get detailed cash flow reports, and streamline the transaction process. In fact, your time will be more efficiently and effectively used when you are freed up to manage your business while Bill Pay USA ensures that your bills are paid accurately and in a timely fashion.
  • Get Help with Small Business Accounting Service,

    Income Tax Preparation, Tax Planning and Budget Forecasting

    Whether you take advantage of our internet remote workplace apps, benefit from our full business accounting services, or use any of the other accounting services offered by Strictly Accounting CPA, you have the assurance that you are getting professional, experienced, and comprehensive accounting services that have been designed to save you money and provide for all of your financial and tax-related needs. When you need the very best in Stamford accounting and tax services, turn to Strictly Accounting CPA and founder and manager David Devin, CPA.
  • For Professional Accounting and Tax Services in Stamford,

    CT, Contact Strictly Accounting CPA

    When you require accounting services that meet the highest professional standards in the industry, Strictly Accounting CPA is the accounting firm for you. Strictly Accounting CPA is located in the center of Stamford, CT, just south of Lord and Taylor’s on Long Ridge Road and can service your accounting needs throughout the metro area. Contact Strictly Accounting CPA by calling 203.322.4000 or toll free 866.322.9188. You may also reach us via email at dave@strictlyaccounting.com, or simply fill out our online form, and we will contact you as soon as possible.

Business Accounting Services

Financial plans and cash budgets
  • Business Accounting Services

    Provide improvements and recommendations to transaction processing as part of a smoothly run operation with separation of approval and disbursements.
    Having a good accounting system is beneficial when there is an interest in the accuracy of financial reports to review the results of operations. This will help provide an understanding your business and becoming a cog in the flow of the business. When not reviewing results, cash balances, accounts payable and receivables you might want to look at the big picture and a one to three year business plan.
    Smaller business interested in accounting primarily for tax purposes can provide us with the bank statements and information to complete the information ourselves with their help. They perceive their business primarily on a cash basis and by how much revenue is being generated.
    A company that can help provide continual improvements can provide advice that will help clear the path for revenue growth and business success.
  • Get better financial and sales reports

    While a manual accounting systems are possible they are not very detailed and take a long time to prepare. The day and age of the computer has arrived for accounting and QuickBooks is the biggest name on the block for business. Having clear financial reports requires that you to have a solid chart of accounts. Also the accuracy of the financial data is a concern.
    Work with your invoice system to better identify and list products and services being offered by your business. Make sure to understand income streams and popular items in your business. Provide reports A-Z from estimate to Sales by Customer and Item variance from estimated profit. This system is used often for construction business yet there are reports such as Sales by Product or Service in summary form by time period which can tell you about the quantity and amount of your sales mix.
  • • Lower annualized costs

  • • Simplify employee training and processes

  • • Easy access to reports

  • • Fewer complaints about double entry of accounting systems.

  • • Quick preparation and turnaround of your income tax returns.

  • • Verifiable data and record keeping

  • • Advice on your records archive and storing data

  • Write up, Audit and review services

    Clients will enjoy the assistance with your write up and also be able to provide review services to you in either Connecticut or New York. It’s helpful when the review helps you identify weakness in internal controls and makes recommendations. So whether you need a review for your investors, bankers or not for profit requirements and board of directors please contact us to discuss our services.
  • Gain confidence in your computerized system or upgrade

    As your company grows you are likely to have employees who need access to the computer to enter transactions or print reports. With multi user access comes the need for some sort of network where computers share information with each other. In general we recommend wired 1000 GB Ethernet cable in your network. Using a wireless network increases potential downtime and slow connections.
    From work groups we can help our accounting clients set up workstations and consult on the wiring and connections and help set up a Cisco or CheckPoint router. Problems printing your documents are made easier using network printers and properly installing the drivers. All this plus access to the Symantec Anti-Virus, with a three year license at no additional cost.
    Some networks go beyond these set ups and establish an advanced business network called a Domain Network. This type of network creates specific users and security protocols using a managed server called a domain controller. Not only making the log on process better but access to network resources, such as email and company files. This type of set up is recommended for a medium to large business. This is because of the barriers to entry include items such as backup, power supply, storage networks and advanced switching equipment.
    Having knowledge in accounting and computerization will help make things run smoothly when it comes to communication and access to reports for top management. If you are changing to QuickBooks, Salesforce or any other accounting upgrade or trying to fix the system you are currently using we can help make the transition as smoothly as possible.
    We also have experience in installing and customizing your Point of Sale terminals and setting up network chef printers and the menu layout. Also recording communication of daily cash receipts to accounting software, either automatically or manually.
  • Financial plans and cash budgets

    When it’s difficult to understand the presentation or accuracy of historical information business planning becomes stalled. A business plan for a new business is not burdened with this since there is no historical information at the time.
    Thus having a good system in place is the foundation of your planning strategy and understanding your gross margin, expenses and net income margin. Also the quality of accounts receivable could be a consideration.
    Your clientele can be your key to business success. However, cash is king when it comes to planning and creating a budget to manage this asset based on operations, investment in equipment and real estate and financing activities. For this reason there is a specific report called the cash flow report which details the changes and ending cash balance.
    While the primary financial reports also include the income statement and balance sheet and so cash flow is usually prepared last. Recently in QuickBooks you can simply print out your cash flow reports. We can help you prepare and better understand your business for success.

Tax Preparation Services

When you require accounting services that meet high professional standards in the industry,
  • Tax Preparation Services

    Strictly Accounting CPA has produced many tax returns for both individuals and business. We automatically renew our systems, and stay updated with changes in the tax code that can affect you. Having someone experienced in various nuances and getting things done correctly the first time is beneficial. In general the less correspondence from the IRS the more likely you are doing things correctly. However if you have any of that would like to be resolved we can always help you prepare or correct a back return and respond in a timely manner.
  • Individual Tax Returns

    When you have a lot going on and the tax return becomes more of a daunting process it probably is a good time to have a professional help prepare your tax return. Some of those reasons could include:
  • • Recently moved or multi state tax returns

  • • Rental Home Income and expenses

  • • Recently purchased a home

  • • Business expenses that your employer does not reimburse you

  • • Many accounts including capital gains and tax exempt bonds

  • • Education and other credits available such as the Child Tax Credit

  • • Property tax credit in Connecticut for your home or automobile

  • • Foreign Tax Credit and Passive Activity Losses

  • • Expatriates working in the United States

  • • US Citizens who work abroad

  • • Foreign Bank Account Report and Statements

  • • Owners K-1s and Self Employment tax

  • • Home office and automobile deductions

  • Or just come by for the convenience of easily e-filed returns

    where we keep track of your records for up to four years and can always contact us with any questions or updates to your current year tax planning. Such as estimated tax payments or updates to your W-4 withholding allowance status and exemptions.
  • Business Tax Returns

    Having a solid business plan that gives you access to your financial data and reports as part of a smoothly run operation is always a plus. Yet once a year income also needs to be calculated for tax purposes and filing in various states. Strictly Accounting CPA can provide monthly and annual account services for your business and help make sure you’re filing your tax returns in a timely manner.
  • • Corporations, Partnerships, LLC and Sole Proprietor income tax returns

  • • Multi-state allocations and sales tax

  • • Owners K-1

  • • QuickBooks organization and review

  • • Up to date preparation records

  • • File retention of up to four years

  • • Recommendations to improve the quality of your accounting records

  • • Assistance with IRS Correspondence and CP2000

  • • E-filing

  • • Documentation to create a new business bank account

    and S-Corp Elections and Federal Identification Numbers
  • • Look at applicable fixed assets and loans

    and how that effects your business income.
  • • Sales and Payroll Taxes, Property Tax and Rental Income and Expense Reports.

  • When you require accounting services that meet high professional standards in the industry,

    Strictly Accounting CPA is the accounting firm for you. Strictly Accounting CPA is located in the center of Stamford, CT, just south of Lord and Taylor’s on Long Ridge Road and can service your accounting needs throughout the metro area. Contact Strictly Accounting CPA by calling 203.322.4000 or toll free 866.322.9188. You may also reach us via email at dave@strictlyaccounting.com.

BillPay USA

You benefit by:
  • Business and Accounting Office

    Bill Pay USA is an office management service that works directly with your banking and vendor relationships. We provide a proactive approach to making payments and keeping your records manageable from our office, using telecommunications, regular and business reply mail.
  • We work with managers and owners to pay ordered and approved goods and services

  • Cash reports along with accounting, tax preparation, and financial statements

  • Use policies and procedures to keep staff focused

    on operations and training on customer invoicing, receipts and deposits
  • Focus on customers and revenue generation and gain synergy between bookkeeping and accounting

  • Utilize various skill sets at an economical value

  • QuickBooks Desktop using the Microsoft remote web workplace on the internet

  • Stay organized and focused on operations and marketing

    while increasing financial compliance
  • Saving time and equipment costs

  • Reducing business risk and create efficiency

  • Technical Consultant, archiving documents and budgeting

  • Having your bills paid with no hassles

  • Redeploying your personnel to more profitable tasks

  • Access to financial reports and analysis of your business

    from an experienced CPA firm and real time cash balances.

Business Office – Accounts Payable, Receivable & Bill Pay Services

  • Accounts Payable

    Managing cash disbursements is a vital task in the steps of making sure to manage the most important asset in your business. Not only would you like to know how much is owed but how much there currently is on hand. You would like to be able to verify the accuracy of disbursements which can be provided via a cash general ledger showing the different payments. Thus this may be equally as vital as taking care of the customer side of the business.
    Having a firm that is proactively managing your cash accounts and making disbursements creates synergy with your accounting. There is a lot to be said for getting it right the first time and taking care of business when the opportunity is present. By hiring our firm to provide this business office outsource we are able to give you a blended rate that is lower than our standard accounting rates.
    We invoice for this service as a set monthly rate. As an agreed up on rate we operate in a corridor of hours and then evaluate periodically for balance. It’s likely there will be a transition period which includes onetime fees as your rejuvenated systems become effective.
  • Accounts Receivable

    The customer cycle to the extent that it can be managed by operations personnel who know their clients is our primary recommendation. However we will assist with questions and training and have accounts where we work with managers depending on the size and type of the invoicing system.
    In any case we can help clean up your reporting in this area to write off uncollectible accounts and check for consistency. Also to show how to create effective invoices and record the subsequent cash collections properly. We will also work in the background to make sure you have properly set up items for sale and invoicing templates or adding a logo.
    As we get to know your company we build synergy from the day to day operation to long term success, and are willing to help make sure your operation is running smoothly.
  • Computerization

    Computers will be vital to your operation and used as a communication tool. Having systems in place that give your staff confidence in their job function is a basic necessity nowadays. Having someone that can make recommendations and provide assistance adds value to you’re the services you are receiving. From networking to workstations, anti-virus and email we have helped many clients over the years.
  • Reporting

    All QuickBooks reports are available online and can be printed or emailed. We support QuickBooks 2013 2014 and 2015 and will retain a three year life cycle. Using our hosted set up we don’t export to Excel but in general we can assist you and provide reports for board of director meetings, monthly reports etc. One of the key benefits is not only access to reports but the accuracy of the reports.
  • Business Planning & Up to date records for tax and verification purposes

    With all these tools we have a solid foundation for business planning. The best business plans will look not only at expected income but also your cash budget for at least the upcoming year and any proposed changes. Using an accrual based net income we will add back or remove non-cash items and review expected investments in equipment and other sources of cash such as owner equity and loan financing or repayment. The external accountant will be pleased with the strength of the accounting system in providing their services and ease of access to documents and records.
    We hold onto your records and return them periodically boxed and organized in folders for your permanent storage and provide recommended destruction dates or permanent files.
    For your business office needs and Bill Pay USA services. Contact Strictly Accounting today.

Estimated Taxes and Budget Planning

  • Estimating and paying the Internal Revenue Service

    United States Treasury and state income taxes
    The first step in preparing income tax estimates is generally completing your tax return. However if your return is going on extension the first quarter payment for the current year is also due on April 15. In that case additional efforts would be applied and reviewed again once the return has been completed.
    The second step would be to decide on whether to pay your income taxes based on the minimum to avoid an estimated income tax penalty or based on expected current year income. Paying the estimated tax penalty means you will pay more of the amount due towards the final due date of April 15, and is typically less than several hundred dollars. Perfection in estimated income tax payments is hard to achieve because the Internal Revenue Service gives you choices. A small estimated income tax penalty is not a huge concern. However completing your tax return in a timely manner is a good practice.
    We can help you figure out your proper filing status and exemptions on your W-4. Higher income individuals that are married may still want to have their status as “married but withhold at the higher single rate” due to the effect of losing some benefits in dual income families from the graduated tax rates. The traditional zero exemptions will still get you the highest amount of withholding under any status so figuring the amount for line five of your W-4 is also important.
    Yet many individuals send their estimated taxes by one of the other methods such as check, electronic withdrawal, Electronic Federal Tax Payment System, or right on www.IRS.GOV as a direct pay. So we can go over with you about your tax plans and prepare the payment coupons for you with convenient courtesy prepaid postage envelopes or schedule electronic withdrawals.
  • Estimating scenarios, capital gains, business and rental income

    The estimating process may involve things such as expected business income and capital gains and losses from selling either real estate or securities. Or simple ones such as same as last year type of estimate or bumping up one thing or another such as retirement income. It may be convenient to have withholding on your social security payments when income levels go up the social security may become taxable.
    So depending on the complexity we can prepare the estimate that is best for you. When paying by check it’s important to keep track of your payments to avoid payment confusion since there is a possibility if we prepare and estimated payment coupon that the check and envelope was not actually sent. Electronic payments are easier to keep track in this regard so when bringing your tax documents for your income tax preparation it’s always a good idea to go over the payments for the current year.
  • Estimating same as last year or different business income scenarios

    and clearing the self-employment tax threshold
    One thing about estimating your income tax is also looking at whether you are paying self-employment tax. If you are self-employed, a single member LLC or involved in a partnership with pass through earned income you are probably familiar with paying into Social Security. The good news is this the majority of tax is only applicable to the first $110,000 of your income so after that there will be some relief. However this is per person limit so crossing this threshold will take careful planning and a good education.
  • Budgeting and Planning

    We have an ability to help you calculate personal financial statements or create financial literacy by helping you with family budgets and calculating savings and buying a home in five year plan. We can break it down to monthly and annual analysis.
    Most of our budgeting tends be geared to business planning so most home budgeting can be done relatively quickly. So if you have any budgets that you have a concern about please let us know and we can help you with your planning and ease your concerns.

Estate and Trust Planning

The services include:
  • The long term goals of your family and business

    are essential for continuation plans for you and your clients.
    While most will have a need for trusts only under special circumstances such as higher wealth individuals, estate planning is something that should be completed for a variety of reasons. Once such reason is business continuation but also having your estate distributed to the ones you care about most. While trust and estate documents fall under the skills of a good attorney there is still much to be said about planning ahead and keeping things simple to the extent possible.
    Such planning can include simple things such personal contacts, insurance and location of financial information. The safety of personal property such as electronics and jewelry for example but also family items that have personal value. Yet also not so simple things such as having someone in place to avoid losing the value of your business if it no longer functions. Clients may have voiced concerns of your continuation plans for business and the proverbial “bus” accident and such.
    Many a single owner businesses, especially in the trade business, may have the one person who is so vital to the operation that there is not a feasible ongoing business plan and thus no value can be retained. Thus a strategy is important to determining what might happen if planning is available or life insurance products to protect your family.
    Based upon accounting expertise, the company can guide you on kind of planning would best suit you. There are simple things to be done and help identify areas for further research. For instance, credit shelter trusts are the most common kind of way to avoid costly mistakes that can be made through neglect. Also creating family partnerships way in advance is a great way to pass down real estate assets while keeping control of the partnership.
  • Serving As Fiduciaries – Managers For Your Estate Or Trust

    Fiduciaries can be any individual or a company that acts for the benefit of another. Executor is a form of fiduciaries. As an executor, the entity responsible would manage and settle your estate as per your wishes. Some estates are settled with a will and some without. However if you do not have a will the assets do not automatically get sent to the state coffers as there is state law which tends to direct it towards your family in a specific order. So for example if you have children by two marriages you might want to consider how this might work and without a “will” probably not according to your wishes.
    While some take on responsibility of managing their own trusts, many find a professional trustee more convenient to take care of the administrative duties. Having an accountant handle the ins and outs while also preparing the tax returns can keep costs more effective than hiring separate functions.
    The executor should have in-depth knowledge of all financial matters that can arise as they are responsible for the collection and location of the decedent’s assets and paying expenses and making beneficiary distributions. They should also have excellent experience about probate accounting and tax matters.
  • Work on business continuation plans, transition and valuation

  • Managing real estate and other valuable personal property

  • Working with probate attorney

    and the process of making distributions to beneficiaries
  • Keeping financial assets safe and identifying liabilities

  • Paying bills and filing relevant information

  • Probate accounting and tax returns

  • Distribution to beneficiaries as per your wishes